GT Advanced Technologies, the company that was supposed to make sapphire screens for the iPhone early this decade, has been charged with misleading investors by the SEC.
The SEC’s investigation found that GT and its CEO violated antifraud provisions of the federal securities laws as part of its deal to supply Apple with sapphire. After failing to meet certain performance requirements, GT caused “significant investor harm” by reclassifying over $300 million in debt to Apple. Sadly, the company’s punishment is pretty much just a slap on the wrist.
Apple is hoping to secure new tax incentives in India that will allow it to increase local iPhone production and export more devices to be sold in other countries.
The company has teamed up with other large names in the Indian Cellular and Electronics Association (ICEA) to propose a raise in export credits on smartphone shipments, as well as tariff cuts on imports of components and machinery.
The group argues that manufacturing growth cannot be sustained and accelerated without the changes.
Getting your hands on the newest iPhones just got a little bit cheaper.
Apple hasn’t knocked the price down on the iPhone XS or iPhone XR yet, but the company is offering a limited-time promotion that gives customers up to $100 extra when you trade in an old iPhone for a new one.
Apple supplier Wistron has started production of the iPhone 6s at its factory in Bengaluru, India.
This marks the second iPhone to be produced in India. Last year, Wistron began producing the iPhone SE in India. The iPhone 6s, which launched in 2015, is a logical choice as a follow-up due to the popularity of the handset in India, thanks to its cheaper price.