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Apple is closer to manufacturing phones in India, says report

Ritesh Shukla | NurPhoto | Getty Images

Apple is getting closer to making a deal that would allow the company to start assembling its phones in India, according to a Wall Street Journal report, citing a government official.

Taiwanese contract manufacturer Winstron Corp. could start making the iPhone 6 and 6S models at its plant in Bangalore as soon as April, and add the assembly of Apple's cheaper SE model in three months, according to the WSJ.

India has one of the fastest-growing smartphone markets, and Apple currently only has about a 4 percent share of it. As the Indian population of 1.2 billion people continues to grow, the move presents an opportunity for the company to boost sales.

The cost of the iPhone is still high for the average Indian, and while manufacturing them there will bring the cost down by about $100 dollars, the devices may still be out of reach for the average person in the country.

Apple also has plans to open a retail store in Bangalore, and while on a call with analysts Chief Executive Tim Cook said the company will "invest significantly in the country" now, and in the future.

Read the entire report at the WSJ.