Salcomp, an Apple supplier, has announced plans to double its headcount in India to 25,000. The Finnish company intends to do so over the next three years.
Salcomp intends to increase its workforce in the country while also aiming for annual revenue of USD 2-3 billion by 2025.
Salcomp's announcement comes as Apple plans to shift large portions of its production away from China in response to COVID lockdowns last year, as well as geopolitical issues between the US and China.
Salcomp currently employs 12,000 people in Chennai. Not too long ago, Nokia owned the company.
According to media reports, the company is constructing a housing complex with entertainment and education for 15,000 people.
According to sources, another Apple supplier, Foxconn, plans to quadruple its workforce in India over the next two years.
As per last year's JPMorgan estimates, Apple may manufacture one out of every four iPhones in India by 2025.
iPhones are assembled in India by three Apple suppliers: Foxconn, Wistron, and Pegatron.