This morning Patently Apple posted a report titled "Apple Analyst Ming-Chi Kuo Releases Notes on what to watch for in Tomorrow's FY23 Financial Report from Apple." This afternoon Kuo released his second report of the day relating to India manufacturing a larger portion of iPhones in 2024. Kuo's five point on this include:

• In 2023, 12–14% of global iPhone shipments are made in India. Foxconn owns 75–80% of the iPhone production capacity in India.
• If all goes well, the proportion of iPhones made in India will increase to 20–25% by 2024.
• Foxconn’s production scale in Zhengzhou and Taiyuan, China, is expected to decrease by 35–45% and 75–85%, respectively, by 2024. In addition to expanding production in India, Luxshare’s rapid increase in iPhone order allocation and improvements in production line automation are also the main reasons for the production scale reduction.
• The new product introduction (NPI) for the standard iPhone 17 (to be launched in 2H25) is expected to start kick-off in India in 2H24. It will be the first time for Apple to begin development of a new iPhone model outside of China. The standard iPhone is chosen for its lower-difficulty design development to reduce design risk.
• By making India’s Tata Group an iPhone assembler (already acquired Wistron’s iPhone production lines in India), Apple can strengthen its relationship with the Indian government. This move will benefit future sales of iPhones and other products in India and is critical to Apple’s growth over the next decade.