Apple to start shipping India-made iPhones this month
- Author: Darren Santiago May 18, 2017,
May 18, 2017, 16:05
Additionally, a person familiar on the matter told WSJ, "We are beginning initial production of a small number of iPhone SE in Bengaluru".
This is a significant move for the iPhone company that wants to set up itself in the Indian market.
But she remains conservative in her initial expectations for iPhone 8 supply and forecasts iPhone unit growth of just 3% in the second half of calendar 2017.
Earlier this month, Apple chief executive Tim Cook said the company was strengthening its presence in India, but admitted that it was "underpenetrated" in the country. But, it is also a fact that it has to abide by the Indian laws. Furthermore, the iPhone prices must go down. Since iPhone SE is the cheapest iPhone in India, it competes with Moto G series, Xiaomi Redmi series and Gionee products.
Qualcomm filed a separate claim against Apple for interfering with the license agreements between Qualcomm and the manufacturers.
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In comparison, only 59 percent of LG smartphone owners, 56 percent of Motorola owners and 42 percent of Nokia owners said they were likely to upgrade from their existing phones. Argus reaffirmed an "outperform" rating and set a $160.00 target price on shares of Apple in a research note on Friday, May 5th. This local manufacturing shows Apple concerns over decreasing sales in China.
In separate news, Canaccord Genuity analyst Mike Walkley also weighed in on Apple yesterday and lifted his price target by 9.1% from $165 to $180, as he sees pent-up demand for the upcoming iPhone 8. Currently, it's being sold at $320 in India. Bringing the phone to even Rs 16,000 could help it become more affordable. Apple presently has an average rating of "Buy" and a consensus target price of $156.06.
Several media reports said in January that Wistron Corp was seeking permission from the Karnataka government to expand its plant in Bengaluru.
The BIS certification for A 1723 model is a direct reference to iPhone SE, which the company launched globally in 2016. The Company also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store. TrimTabs Asset Management LLC increased its position in shares of Apple by 88.3% in the first quarter.
During the opening of the said first store, the company will provide a series of programs, such as an acoustic performance by Sezairi Sezali, an Idol victor. The first brick-and-mortar store in the country will finally open.