I have built an iOS Swift framework with Xcode.
After writing the code I have build the project and took the .framework file inside the Products folder to test it.
When you're referencing a framework in the products directory from your workspace, ensure that the location is "Built Products" and the filename is just the framework name, without any additional path components.
If you're referencing a framework that isn't in your workspace, I would recommend using Carthage instead of copying it directly into your repository. This will make versioning much easier, and will ensure that it is built correctly for both simulator and device.