Apple hikes iPhone prices by 5% due to increase in GST
The government last month increased GST on smartphones to 18% from 12% earlier, while in the Budget it increased net import duty by 2% by withdrawing the exemption on social welfare surcharge which was earlier available on the basic custom duty on mobile phones.
Apple increases prices of some iPhone models
As per industry executives, the Budget had hiked import duty of various products both by way of increase in basic custom duty rate and withdrawal of earlier exemption from basic custom duty and social welfare surcharge.
Handset companies hike prices of mobile phones on high GST
“The rupee has depreciated significantly against the US dollar. Since we maintain less than 5% profit margin for all our hardware products, we have no option other than to increase prices,” Manu Jain, India head at Xiaomi, India’s leading handset maker, said in a note to customers.
Coronavirus impact: Apple India shuts down four sales offices and map development centre
As per two industry executives aware of the plans, over 5,000 employees and associates of Apple in India will be largely working from home. Apple has four sales offices in India located at Mumbai, Bengaluru, Hyderabad and Gurgaon.
Why Apple's upcoming first India store is making news
Apple currently sells its devices through third-party reseller outlets like Amazon, Flipkart and Paytm Mall. Apple plans to sell its devices through its own website starting the later half of this year and will build a physical store, most likely in Mumbai, next year.
Apple to open its first store in India next year
Speaking to investors at the annual shareholder meeting at Apple Park in Cupertino, California on Wednesday, Cook confirmed the company will open its first offline retail outlet in the world's second biggest smartphone market next year.
Apple is finally opening its first store in India next year
Apple CEO Tim Cook has announced that the company will open its first retail store in India in 2021. Apple doesn't have an outlet in India, ...
iPhone makers suspend India production due to lockdown
Foxconn, also known as Hon Hai Precision Industry Co., is suspending operations until April 14, it told Bloomberg News. It intends to resume India production based on further government announcements. A Wistron representative said the company is also adhering to the order, while declining to comment on exactly what products are affected.
Turnaround year for Apple: Analysts
Counterpoint Research estimates iPhone shipments to have grown 6% in 2019, though on a smaller base after a 43% decline the year before. For the October-December quarter, it is estimating the growth to be 41%, more than double the pace of the premium smartphone market where it said the expansion was slower than the full year average of 20%.
Phone companies diversify into accessories, services space to boost topline, margin
Chinese phone makers Xiaomi, Oppo and Realme have launched their financial services apps called Mi Credit, Oppo Kash and Realme Paysa to offer small ticket loans to SMEs, credit score analysis and insurance cover.
Apple postpones launch of online store in India
Co needs more time to finish back-end work and wants the roll out to coincide with launch of new iPhones, say industry executives
Rs 42,000 crore booster from government for India's local mobile manufacturing
According to a report in the Times of India, the production-linked incentive scheme will benefit high end mobile manufacturers and domestic makers the most. The scheme will help in boosting local production of mobile phones and wean away Indian manufacturers from their dependence on China.
India proposes incentives to woo Apple, Samsung suppliers
India is mulling a plan to offer interest subsidy on local borrowing by mobile handset manufacturers.
Apple logs double-digit growth in iPhone sales in India in Dec quarter
Apple India logged double-digit rise in iPhone sales and witnessed strong demand for iPads in Dec quarter.
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