Apple accelerating plans to move iPhone production out of China
WIBC 9AM-Noon Podcast
WIBC
4.6 • 1.2K Ratings
🗓️ 5 December 2022
⏱️ 6 minutes
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| 0:00.0 | Okay, so let's talk about Apple and they're accelerating their plan to move iPhone production |
| 0:07.0 | out of China. This is in the wake of violent worker protests over COVID-19 regulations. It's |
| 0:13.8 | happening at the world's largest iPhone factory and this is a report according to the Wall Street |
| 0:19.2 | Journal. So the plant is dubbed iPhone City. They made headlines recently. Of course you saw it. |
| 0:25.6 | The workers were revolting and Apple is reportedly looking to shift its production towards other |
| 0:32.9 | nations in Asia like India and also Vietnam. So Apple is the largest most powerful company |
| 0:44.8 | in the world in the world. Apple has 10 times the market cap of Disney. But China becoming toxic |
| 0:58.4 | and Apple should distance itself. I don't know why Apple would have a problem with their factory |
| 1:03.7 | becoming Thunderdome over in China. No, I think it's a good move and I think for a lot of |
| 1:09.5 | manufacturers you're going to see this more and more. Some of this is because China still has |
| 1:14.1 | pretty heavy duty lockdowns over there. And the supply chain issues here are directly related |
| 1:19.9 | to their lack of production there. And I think just to insulate themselves and I know that there's |
| 1:26.1 | been an initiative from the Biden administration to encourage more people to produce here in North |
| 1:30.8 | America. I think that is probably just a good best practice that if, especially if you're the size |
| 1:36.1 | of Apple, you can have a production facility in China. You probably should have one in India or |
| 1:42.1 | Indonesia or somewhere else or maybe even here in North America. And that is just as an insurance |
| 1:49.2 | policy because you don't want all of your stuff tied up in a factory like this where suddenly there |
| 1:54.3 | is no production coming out. And even if they were producing, if it's going to get here, that is |
| 1:59.7 | just a bad policy. I think we're sharing a brain on this. So I said China is toxic. They changed |
| 2:07.0 | the law so that Xi Jinping could have his third term, even though he was supposed to be done after |
| 2:12.7 | two. You might recall him hauling the former prime minister out of a meeting publicly, front of |
| 2:19.6 | everybody. It's almost like he's just putting in a better suit. Yeah. I was the most surprising |
... |
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