Apple Is Looking to Move Production Out of China, Report Says

Apple


has hastened plans to move part of its production out of China, home to the world’s largest iPhone factory, according to a The Wall Street Journal report citing anonymous sources.

The world’s most valuable company is telling suppliers to plan more actively for assembling


Apple


 (ticker: AAPL) products elsewhere in Asia, especially India and Vietnam, in an effort to lower its dependence on Taiwanese assemblers led by Foxconn (2354: Taiwan), the Journal reported.


Foxconn


produces 70% of global iPhone shipments and is one of the world’s largest electronics contractors. Apple didn’t reply to Barron’s requests for comment.