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News on Medial
Apple has had few incentives in the past to start making iPhones in US
Economic Times
·
3m ago
Medial
President Trump threatened a 25% tariff on iPhones unless Apple moves production to the US, amidst the trade war with China. Apple CEO Tim Cook responded by stating that most US iPhones would be sourced from India, projecting a cost of $900 million due to tariffs. Analysts speculate that moving production to the US could triple iPhone prices, significantly impacting sales. Apple aims to negotiate with Trump, while facing challenges from rising AI technologies and changing market dynamics.
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ETtech Explainer: Epic Games’ battles against Big Tech antitrust violations
Economic Times
·
1y ago
Medial
Fortnite maker Epic Games has accused Apple of violating an injunction governing its App Store and has asked a US judge to hold Apple in contempt. The companies have been locked in a legal battle since 2020 when Epic accused Apple of antitrust violations. The recent allegation is related to Apple's allegedly new rules and fees for developers, which Epic says are in violation of a September 2021 injunction. Apple recently blocked Epic from launching its online marketplace on iPhones and iPads in Europe, citing past breaches of contract. Epic also had a similar antitrust battle with Google last year.
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Apple supplier Jabil eyes two more India units with $275 million investment
Economic Times
·
10m ago
Medial
Apple supplier Jabil is planning to invest $250-275 million in India to build two new manufacturing units over the next few years. Currently, Jabil operates two units in Pune and proposes to set up another unit in Tamil Nadu. The investment comes as Jabil aims to expand its operations in India, which is a rapidly growing market for iPhones. Jabil has been producing plastic casings for Apple AirPods and intends to venture into making plastic casings for chargers, older iPhone models, AirPods, and components for Apple watches and Mac.
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Apple's sales fall for the fourth straight quarter despite a strong start for latest iPhones
Economic Times
·
1y ago
Medial
The government has asked Apple to join a probe into alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament. This comes as Apple's sales have fallen for the fourth consecutive quarter, despite a strong start for their latest iPhones.
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Apple partner Hon Hai injects $1.5 billion into India unit
Economic Times
·
3m ago
Medial
Hon Hai Precision Industry Co., a key manufacturer for Apple, is investing $1.5 billion in its Indian unit to boost iPhone production as the company shifts operations from China. This strategic move aligns with Apple's plan to import most iPhones sold in the US from India, amid geopolitical and tariff concerns. The majority of India-assembled iPhones come from Hon Hai’s southern India factory, supporting Apple’s increased local production by 60% over the past year.
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Move over China: iPhones for America now mostly assembled in India, confirms Apple CEO Tim Cook
Economic Times
·
1m ago
Medial
Apple CEO Tim Cook announced that most iPhones sold in the US last quarter were assembled in India, shifting production away from China for the American market. While India has become a primary manufacturing hub for Apple's iPhones, China continues to produce Apple products for other international markets. The company's focus on India reflects strong sales growth in the region, despite challenges such as US tariffs. Cook also highlighted expansion plans in India to enhance retail presence.
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Apple's reply on device vulnerability not totally clear: Rajeev Chandrasekhar on iPhone alert to MPs
Economic Times
·
1y ago
Medial
The Indian government is awaiting a response from Apple regarding an alert sent to opposition leaders about alleged hacking of their iPhones. Minister of State for Electronics and IT, Rajeev Chandrasekhar, stated that the government has asked Apple whether their devices are safe and why the alert was sent. Chandrasekhar acknowledged that getting a clear answer from Apple on vulnerabilities in their platform is unlikely. Opposition leaders had received notifications from Apple about state-sponsored hackers attempting to compromise their iPhones. The government has involved CERT-In in the investigation.
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Tata in talks with Pegatron to set up iPhone assembly in Tamil Nadu: Report
Livemint
·
1y ago
Medial
Indian conglomerate Tata Group is reportedly in advanced discussions with Taiwan's Pegatron to establish a joint venture for manufacturing iPhones in Tamil Nadu. By partnering with Pegatron, Tata aims to accelerate its plans to start iPhone production, while also helping Apple expand its operations in India. The joint venture would see Pegatron providing technical and engineering support at the new assembly plant in Hosur City. This move would allow Apple to diversify its manufacturing beyond China and mitigate the impact of US-China tensions on its business.
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Apple aims to make a quarter of the world’s iPhones in India
Livemint
·
1y ago
Medial
Apple and its suppliers have ambitious plans to produce over 50 million iPhones in India annually within the next few years, with the aim to account for a quarter of global iPhone production. The move comes as Apple seeks to diversify its supply chain away from China and reduce dependence on the country. The company believes that India's trust factor is high and is making progress in building a network of core suppliers in the country. While China will remain the largest iPhone producer, India is positioning itself as a significant manufacturing hub for the tech giant.
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Apple to pay $490 million in lawsuit claiming Tim Cook defrauded shareholders
Livemint
·
1y ago
Medial
Apple has agreed to pay $490 million to settle a class-action lawsuit accusing CEO Tim Cook of defrauding shareholders. The lawsuit alleged that Apple concealed the declining demand for iPhones in China. Apple's announcement in January 2019 that it would slash its quarterly revenue forecast by up to $9 billion due to US-China trade tensions had caused a significant drop in share prices. The settlement, which still requires approval from the court, will cover investors who bought Apple shares between Cook's comments and the revenue forecast. Apple denies liability but settled to avoid further litigation costs.
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iPhone 16 war: Blinkit, Big Basket go head-to-head to reach 300 mark; ‘clocking in 3 per minute’ | Mint
Livemint
·
11m ago
Medial
Blinkit and Big Basket, two quick commerce platforms, had a tight race in iPhone 16 sales. Both companies reached the milestone of selling 300 iPhones within the first few hours of the launch. Big Basket took the lead, selling 372 iPhones in 100 minutes, while Blinkit sold around one iPhone per minute. Big Basket recorded the sale of three iPhones every minute, while Blinkit partnered with Unicorn stores to make the iPhone 16 series available in select cities. Both companies had sales partnerships with Croma, except for Pune.
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