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Apple to Start India Manufacturing in Coming Months With iPhone SE

17Feb By reutersNo Comments

News

Apple to Start India Manufacturing in Coming Months With iPhone SE

Apple Inc will in the coming months start assembling its lower-priced iPhone SE models at a contract manufacturer's plant in the southern Indian technology hub of Bengaluru, an industry source with direct knowledge of the matter said on Friday. Apple's Taiwanese manufacturing partner Wistron Corp is setting up a plant in Bengaluru to focus solely on assembling iPhones, a separate source told Reuters earlier this month. Apple's move comes as it seeks to boost its share in the world's fastest growing major mobile market, where handsets far cheaper than Apple's iPhones dominate. It also comes as smartphone sales growth is slowing in Asia's other massive market, China. To lower prices, Apple has been seeking to set up local production and has been in talks with the Indian federal gove...

No Decision Yet on Apple’s Demand For Concessions: DIPP

6Feb By Press Trust of IndiaNo Comments

INDIA

No Decision Yet on Apple’s Demand For Concessions: DIPP

The government has not taken a final decision yet on the concessions being sought by US iPhone maker Apple for setting up a manufacturing unit in India, a top official said today. Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said that Apple has submitted certain demands for the government's consideration. "We had a meeting of all the concerned ministries and departments (on those demands) and we have asked them to look at those issues and take a view. No ministry has yet taken a final decision on any of those. But we are in touch with them," Abhishek told reporters here. He said the government supports all manufacturing, including value manufacturing, in the country by companies. "So we would definitely like to promote this. So we are coord...

25Jan By AnkitaNo Comments

INDIA

Apple Ready With Blueprint For Manufacturing Unit in India

Apple Inc today indicated to the government that it is ready with a blueprint to begin manufacturing iPhones in India, but wants fiscal concessions, including Customs duty waiver on import of components. Apple executives made a detailed presentation on its road map for setting up a manufacturing unit in India to an inter-ministerial group headed by Department of Industrial Policy and Promotion Secretary Ramesh Abhishek, sources privy to the development said. The presentation was made by senior executives of the company, including Global Vice-President (iPhone operations) Priya Balasubramanian. It cited the country's business friendly ecosystem for keenness to start local manufacturing. With sales tapering in the US and China, Apple is eyeing India the fastest growing smartphone marke...

31Dec By Press Trust of IndiaNo Comments

INDIA, News

Apple to Make iPhones in Bengaluru

Apple is all set to start manufacturing its iconic iPhones in India at Bengaluru, as part of efforts to cash in on the world's second largest smartphone market in a big way. Local manufacturing is expected to help Apple price its phones more competitively in India as it currently attracts 12.5 percent additional duty on imports. The phones would be manufactured by Wistron, a Taiwanese OEM maker for Apple, according to top government sources. "Wistron has plans for setting up iPhone manufacturing plant for domestic market in Peenya," top government sources familiar with the developments told Pixr8. Another senior government official said Bengaluru has the talent required for quality high technology products and that was the reason for selecting the city. The official added that Foxcon...

Chinese Smartphone Maker Oppo Plans $216 million Industrial Park in Greater Noida

27Dec By Press Trust of IndiaNo Comments

News

Chinese Smartphone Maker Oppo Plans $216 million Industrial Park in Greater Noida

Betting big on the booming Indian smartphone market, Chinese smartphone maker Oppo is planning an industrial park in Greater Noida which will house a manufacturing unit. "We already have a production unit in India and the SMT (surface-mount technology) centre is now undergoing the furnishment...it will be finished in February. Also, with regard to the industrial park, we will have the agreement signing press conference at the end of next month," Sky Li, vice president of Oppo and managing director of international mobile business and President of Oppo India. He said the industrial park is spread over 1,000 acres and entails investment of about 1.5 billion RMB (Renminbi) yuan or about USD 216 million. Oppo already has manufacturing operations in Noida. Exuding confidence on the co...

17Nov By Press Trust of IndiaNo Comments

CHINA

China FDI – $98 Billion in Ten Months, 600 Companies Invested Over $100 Million

FDI in China rose 4.2 percent year on year to reach around USD 98 billion in the first ten months of the year with service sector attracting massive investments, unlike manufacturing which suffered over capacity, official data said today. The growth rate is unchanged from the January-September period, according to the Ministry of Commerce. The service industry continued to attract massive foreign investment from January to October, said Tang Wenhong, head of the ministry's foreign investment division. The FDI rose 4.2 percent to reach 666.3 billion yuan during initial ten months. In the service sector, which accounted for 70.7 percent of all investment, FDI increased 9.1 percent year on year during the period. In particular, FDI in high-tech services skyrocketed 90.2 percent from a y...

Foxconn $5 Billion Investment is Not Going Anywhere, Says Devendra Fadnavis

30Oct By Press Trust of IndiaNo Comments

INDIA

Foxconn $5 Billion Investment is Not Going Anywhere, Says Devendra Fadnavis

As per the news that Taiwan-based tech giant Foxconn may shy away from its proposed USD 5 billion investment in Maharashtra, Chief Minister Devendra Fadnavis today said the company is "not going anywhere" and hoped issues raised by it will be resolved soon. "Foxconn had issues pertaining to the Central government. The company wants its manufacturing costs here to match those in China," he said while speaking to reporters at his residence 'Varsha' here. The world's largest electronics contract manufacturer plans to set up manufacturing units in India, which boasts of the world's second-largest base of mobile phone users, to mitigate rising labour costs in China and also lower manufacturing cost of iPhones. Fadnavis said the company, which counts Apple, Xiaomi, Blackberry and Amazon...

29Oct By Press Trust of IndiaNo Comments

CHINA

U Turn of China’s Official Media- Supporting Chinese Companies Investment in India

Arguing that anxieties of Chinese businesses in investing in India are "overblown", official media today said investors can make "fat gains" by cashing in on the rapid growth in India's manufacturing sector and staying away is indisputably an "unwise choice". Making a strong case for why Chinese should rush their investments to India, an article in the official daily Global Times said "the rapid growth in India's manufacturing sector has thus far had little to do with Chinese capital". "In other words, China does not have the capability to limit India's manufacturing development. What China is capable of is preventing Chinese investment from capitalising on India's admired growth outlook, indisputably an unwise choice," the article written by Ge Cheng, Research fellow at the National...

LeEco Like Xiaomi Will Assemble smartphones in India, Invests $7 Million

31Aug By AdityaNo Comments

News

LeEco Like Xiaomi Will Assemble smartphones in India, Invests $7 Million

Joining peers such as Xiaomi, Vivo and Gionee, Chinese handset maker LeEco will assemble its smartphones in India, investing Rs 50 crore in the facility. Set up in partnership with Compal Electronics, the facility in Greater Noida will have an initial capacity of 60,000 units a month. This will be ramped up to 2,00,000 by the end of December. "We have partnered with Compal for the facility and will start with the assembly of Le2. We will invest Rs 35 crore to start with and have earmarked another Rs 12-15 crore for the ramp-up," LeEco COO Smart Electronics Business Atul Jain said. He added that the facility, spread over 2,00,000 sq ft, will provide jobs to nearly 200 people. "India will be a global export hub... We are already there in China, Hong Kong and will soon star...

Home-Grown Jivi Mobiles to Invest Rs 200 Cr in Mobile Manufacturing

22Aug By AdityaNo Comments

BUSINESS

Home-Grown Jivi Mobiles to Invest Rs 200 Cr in Mobile Manufacturing

Home-grown mobile phone maker Jivi Mobiles plans to invest up to Rs 200 crore in setting up a new manufacturing unit in Lonavala with initial production capacity of 5 lakh units per month. "We are selling around 3-3.5 lakh feature phones per month. By Diwali, we expect to reach sales of 6 lakh units a month. Based on demand, we expect to sell 10 lakh units per month by 2017-18 for which we are setting up additional plant in Lonavala with investment of Rs 180-200 crore," Jivi Mobiles CEO Pankaj Anand said. Jivi at present has a mobile assembly unit in Delhi where it produces 3-3.5 lakh mobile feature phones per month. "We could have opted for a contract manufacturer but due to issue of quality control and supply issues, we have started our own unit in Delhi with investment of Rs 150 cr...

Anand Mahindra Looking To Launch Driverless Tractor

11Aug By NitishNo Comments

News

Anand Mahindra Looking To Launch Driverless Tractor

Mahindra group is investing in the future of mobility with intentions to play a pioneering role in the development of driverless tractors and commercial vehicles, its Chairman Anand Mahindra today said. Amid speculations in the world whether conventional auto companies will survive in a transformed environment, he said the buzz about the future of mobility is centered around three topics -- shared mobility, role of renewable energy- powered vehicles and autonomous vehicles. "Mahindra is investing in the future of mobility by combining our innovative manufacturing capabilities with our investments in downstream platforms," he said while addressing the companys AGM here. Stressing on the groups ambitions to be prepared for the future, Mahindra said: "Everyone in the world is...

India Opens The Door For Apple Stores in New FDI Rules

20Jun By AnkitaNo Comments

News

India Opens The Door For Apple Stores in New FDI Rules

Apple Inc could open its first stores in India and might eventually start manufacturing in the country under new foreign investment rules for retailers outlined on Monday. The new rules exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally. That would allow Apple, which currently sells its iPhones, iMacs and iPads through resellers, to set up its own shops in India, ending months of uncertainty for the California-based company that had first applied for store licenses in January. India is the world's fastest growing large smartphone market with sales expected to rise over 25 percent this year. For Apple, which has less than a two percent share in the smartphone market in the country, gaining a bigger footp...