Investment bank JP Morgan has raised its Apple stock price target on the potential for an on-time 'iPhone 12' launch and the iPhone SE's opportunity to drive growth in India.
Apple customers in India now have the ability to purchase custom Mac configurations, such as those with RAM or SSD upgrades, through authorized resellers.
Apple is contemplating a major shift of its manufacturing capacity to India, with a move of almost a fifth of its production capacity away from China possible, if the report is accurate.
Months after it was officially made available in India, Apple is now promoting the HomePod and directing users to local resellers where, unusually, the device is sold for below the regular US pricing.
While Apple has yet to make substantial inroads into India's mainstream smartphone market, the tech giant's latest flagship iPhones continue to dominate top-tier category sales.
Apple's attempts to grow market share in India is continuing to bear fruit, with iPhones seeing 79% year-on-year growth in the first quarter, as well as being the leading brand in the ultra-premium smartphone segment.
Apple's major supplier Foxconn makes the iPhone XR in Chennai, which is an area that is now subject to India's COVID-19 lockdown.
In the midst of ongoing attempts to diversify its supply chain, a new report outlines some of the trouble Apple is running into, while establishing a manufacturing foothold in India.
Apple will be opening its first retail outlet in India in 2021, CEO Tim Cook has advised to shareholders, marking the iPhone maker's initial self-owned outlet in an important potential market.
The idea Apple was failing to establish itself in India — and outsold by Samsung and Chinese brands — has been overturned by new research showing that iPhone ate up over 75% of all premium smartphone sales in the subcontinent in the fourth quarter, while also posting strong iPad, Apple Watch, and AirPod sales. Along with "double-digit" growth, Apple is also expanding its production in the subcontinent for audiences globally.
The iPhone XR led the way to Apple becoming the fastest growing premium smartphone brand for the year in the country.
Alongside the assembly of iPhones from other suppliers' components, Wistron will also assemble printed circuit boards for the devices.
The HomePod is now available to purchase in India for the first time, with the regional launch of Apple's smart speaker also offering the audio device at the equivalent of $280 after sales tax, and potentially even lower at some retailers.
Following years of speculation, sources familiar with the matter say that Apple's first-party online store in India will open in late 2020, perhaps as soon as July.
Victor and William discuss the new Apple Watch rewards program in selected gyms, what's really going on with WhatsApp and iCloud encryption, and how iPhone demand in India has grown so much that a third factory is opening.
Apple assembly partner Wistron is increasing its production capacity in India, ramping up productivity for its third plant in the country after an initial trial by the firm, with iPhones thought to be the main produce from the newest operation.
India's Ministry of Electronics and Information Technology may begin offering incentives to smartphone manufacturers in hopes of enticing more Apple and Samsung suppliers to open factories in India.
Foxconn has denied a Tuesday report claiming it was canceling investment in India valued at $5 billion, one that alleged there was an internal dispute between the iPhone assembly partner and Apple itself.
The Indian government has announced that Apple is increasing its local operations and in addition to iPhones, will also be making components and chargers in the country.
Foxconn has just started local production of the iPhone XR at its plant in India and will later make the iPhone 11 too. The move will keep manufacturing costs down, but Apple reportedly doesn't plan price cuts.
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Mike Peterson
Malcolm Owen
William Gallagher
Mikey Campbell
Daniel Eran Dilger
Amber Neely
Mike Wuerthele
Victor Marks
