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As per the report from CNBC, the California-based tech giant will begin assembling the iPhones via Foxconn's assembly by early 2019.

This price may go down to $1000 United States dollars once Foxconn starts making iPhones in India. This is scheduled to happen next year, and will be the first time the Taiwanese contract manufacturer will be making the product in the country. Foxconn will invest $356 million and the investment may create as many as 25,000 jobs.

The flagship iPhones are not the first iPhones to be assembled in India.

The Hindu newspaper first reported on December 24 that the Foxconn plant would begin manufacturing various models of the iPhone.

This is much higher than the 12 percent of iPhone buyers who upgraded from an Android phone after the iPhone 8 and 8 Plus were released in September 2017. Till date, Apple has assembled only the lower-cost iPhone models that include iPhone SE and iPhone 6S in India via Wistron Corp's facility in Bengaluru.

"It appears that iPhone XR did serve to attract current Android users,", said Mike Levin from the market-research firm CIRP. There's a catch, though, as it requires a trade-in of an iPhone 7 Plus device launched two years ago. The company reduced the prices for iPhone X previous year since it introduced new 2018 iPhones models globally.

Still, it could potentially get Hon Hai to make the older iPhone X version in India in a bid to get a bigger share of the world's fastest-growing major mobile phone market.

It should be noted that it's now unknown whether Foxconn is planning to move its existing iPhone assembly from China to India.

The report also indicates that Foxconn will be responsible for manufacturing of iPhones in India as opposed to Wistron which is now manufacturing lower-end, budget iPhone models in the country.