Apple is set to begin manufacturing iPhones in India whether or not it has received agreement from the government over proposed tax relief incentives, a new report claims.
The first iPhones to be assembled in India are said to be 300,000 – 400,000 iPhone SE models, which will be manufactured at a plant owned by Winstron in Karnataka, Bengaluru.
Apple supplier Foxconn has reconfirmed its intentions to build factories in India, with officials telling ministers from the state of Maharashtra that it will invest $5 billion building plants in the country.
Maharashtra Chief Minister Devendra Fadnavis is said to be working with Foxconn to help find suitable land in the state to fit the iPhone maker’s demands.
Apple wants the right to import and sell refurbished iPhones in India, according to a new report.
The company previously tried to roll out a similar scheme, only to have it squashed by a consortium of local smartphone OEM rivals. This time, however, Apple has the bargaining chip that it plans to manufacture iPhones in India working in its favor.
Apple will begin manufacturing iPhones in India by the end of April.
Its factory in Bangalore, Karnataka, will be run by Wistron, and all of the devices it produces will be sold locally. Apple will be hoping that the move can bolster the iPhone’s presence in India, where it has somewhat struggled in the past due to its high price tag.
Apple is set to reveal its first quarterly earnings report of 2017 and, if Wall Street’s estimates are any indicator, it could be Apple’s biggest quarter ever.
After multiple quarters of declining revenues, today’s call could see the company return to growth, lifted by strong iPhone sales over the holidays and a burgeoning services business that has quickly become Apple’s second-biggest moneymaker.
Tim Cook and Luca Maestri are scheduled to hold an open call with investors today at 2 p.m. Pacific. As usual, Cult of Mac will be here liveblogging and analyzing all the action. Get prepped for the call with our guide on what to expect, and join the fun in the liveblog below.
Apple is close to finalizing its negotiations with the Indian government over a local manufacturing facility, according to a new report.
The company confirmed on Wednesday that it had enjoyed a “constructive” meeting with Indian officials after issuing a list of demands for its move. Now a source with knowledge of the matter says “it’s almost a done deal.”
Apple has confirmed it has had a “constructive” meeting with the Indian government over plans to open a local manufacturing facility.
Its statement comes less than a week after the company issued a list of demands that included lengthy tax breaks and a waiver on customs duties.
Apple is currently weighing up the possibility of building new manufacturing facilities in India. Its decision rests on whether it can strike a deal over perks with the Indian government. Here are some of the things the company is requesting.
Indian officials are reportedly keeping an “open mind” with regards to Apple’s demands in return for considering producing iPhones in the country.
“We will very much like Apple to come and have a base in India,” Information Technology Minister Ravi Shankar Prasad told reporters earlier today.
Apple will hike App Store prices for users in the U.K. due to fluctuating exchange rates and taxation changes.
U.K. prices will go up by at least 25 percent within the next seven days, and Turkey, India and other countries can also expect to see increases, Apple said.
Apple is reportedly planning to start manufacturing its iPhones in India, and — right on cue — a new report claims that Apple supplier Wistron has applied for fast-tracked approval to expand its factory in the Indian city of Bengaluru.
“Wistron has approached us to expedite certain clearances with regards to the augmentation and expansion of its existing unit,” said a high-ranking regional government official, who declined to be identified.
Apple has a new demand for the Indian government as it barters about stepping up its investment in the country: getting rid of the detailed product information it is asked to print onto its devices — thereby cluttering its minimalist design.
Apple recently made the request to the country’s Department of Industrial Policy and Promotion (DIPP), which forwarded the message to the Department of Revenue and Department of Electronics and Information Technology (DeITY) for consideration. No response has yet been issued.
Apple is continuing to consider manufacturing its devices in India — but it wants the Indian government to make it worthwhile.
That’s according to a new report from the Wall Street Journal, which notes that Apple recently outlined its wish for financial incentives in a letter to officials in India, and that the country’s Senior Trade Ministry authorities have since met to discuss the matter.
The iPhone 7 may cost half the average annual salary in India, but that’s not stopping it from trouncing rival Samsung when it comes to premium smartphone marketshare in the country.
While Samsung garnered just 23 percent of the Rs 30,000 and up ($437-plus) market last month, Apple almost tripled this with a 66 percent share of high-end smartphone unit sales. Google’s new Pixel smartphone slid into third place with 10 percent of the market.
Apple has “sought incentives” to set up a manufacturing facility in India, according to a new report.
Apple reportedly made its case to the country’s Department of Revenue and Department of Electronics and Information Technology (DeITY).
During tomorrow’s Apple earnings call, Tim Cook is likely to unload some bad news. Wall Street expects Apple to report its first annual revenue decline since 2001, snapping one of the most impressive streaks ever witnessed.
Slumping iPhone sales mean Apple’s annual revenue could drop to $215.67 billion for 2016. That would be a significant decline from the $233.72 billion in revenue Apple posted in 2015 — but there may be light at the end of the tunnel.
The iPhone 7 and iPhone 7 Plus went on sale in India today, as Apple continues to try and grow its brand in the country.
It’s going to be a challenge, though, as Gartner research vice president Mark Hung told CNBC’s “Street Signs” — given that the price for the new handset is more than the average Indian citizen earns in six months.
Apple is trying its darndest to grow its brand in India but, just like Apple’s troubles in China, it seems to be running into problems with the government.
According to a new report, the Indian government is currently trying to force foreign smartphone makers — Apple included — to bake in Indian-developed biometric technology, designed to allow users to access a range of public and private services, such as banking.
And Apple’s none too happy about it!
Apple plans to open a new high-end app development center in Bengaluru, India, according to a new report, citing people familiar with the company’s plans.
The report claims that Apple has already come to terms concerning a 40,000 square foot office space, spread across two floors. It is likely that this space will house around 300 people, and will open in early 2017.
It’s been a long time coming, but from the sound of things India is finally about to get its first official Apple Store, according to people familiar with the matter.
Apple’s biggest supporter? None other than Prime Minister Narendra Modi, who is set to grant the company a three-year exemption to India’s rules about foreign single-brand retailers sourcing a significant portion of their products from India.
Apple’s plans for a string of retail stores in India hit a hurdle last month when the country’s finance minister ruled that Apple must conform to local sourcing laws in order to be granted a permit for the country. Requiring that Apple procure 30 percent of its goods locally, this seemed like it put a decisive halt to plans for Apple Stores in India.
Fortunately, it seems that cooler heads have prevailed — as part of a much larger rethink that goes way beyond Apple.
With Apple running into problems in China, it’s been upping its focus on India as another relatively untapped market where Cupertino hopes to expand its market share. But can India, which has a population of 1.25 billion people, really serve as a substitute for China, with its comparative 1.36 billion people?
Not according to a group of Mizuho Securities analysts, who argue that regulatory politics, competition, low wages and lack of carrier support are all obstacles in India which means it will struggle to offset a slowdown in Apple’s China business.
Apple’s plans to open own-brand Apple Stores in India may finally be gaining momentum, with a new report claiming that the Indian government is likely to give the company a two or three year exemption to local sourcing laws in order to establish its retail outlets in the country.
Apple may be running into problems in China, but it doesn’t seem like its campaign to expand into India — another vast country with plenty of potential for smartphone growth — is going any better.
According to a new report, India’s finance minister has ruled that Apple must conform to local sourcing laws to open official Apple Stores within India, despite previous rumors stating that Apple would be exempted from such rules.
Buying an iPhone is a major financial decision for most people that pine for Apple’s pricey products, but according to CEO Tim Cook, the iPhone could soon see a price cuts in certain markets.
During his heavily publicized tour of India, Tim Cook sat down for an interview with Vikram Chandra on NDTV to talk about Apple’s interest in the country. When asked about whether the iPhone is too expensive, especially considering some features don’t work in countries outside the U.S., Cook actually acknowledged the price is a bit steep.