Tuesday January 16, 2018
Home India Apple plans t...

Apple plans to make iPhones in Bengaluru, says Karnataka’s Minister of State for IT Priyank Kharge

Priyank Kharge, Karnataka's Minister of State for IT informed about Apple's plans to start manufacturing IPhones in Bengaluru

0
//
60
Apple Logo, VOA
Republish
Reprint

Bengaluru, Feb 3, 2017: Apple plans to make its iPhones in Bengaluru, said Karnataka’s Minister of State for IT Priyank Kharge on Thursday.

“An Apple team discussed with us its proposal to set up a plant in Bengaluru to make iPhones for the Indian and global markets,” said Kharge in a statement here.

An Apple team, led by iPhone Operations Vice-President Priya Balasubramaniam, Government Affairs Head Ali Khanafer, iPhone Operations Director Dheeraj Chugh and Country Counsel Priyesh Povanna discussed the proposals with the state officials in the presence of the minister.

NewsGram brings to you latest new stories in India.

“We welcome Apple’s proposal to commence initial manufacturing operations in Karnataka. Its intentions to make iPhones in Bengaluru will foster the cutting-edge technology ecosystem and supply chain development in the state, which are critical for India to compete globally,” said Kharge.

“Apple’s decision to make iPhones in Bengaluru has enhanced the city’s reputation as the most preferred destination for foreign investment and validation of our policies to foster manufacturing, innovation and investments in the state,” he said.

The Silicon Valley-based global firm has been eyeing the India for a greater pie of its growing smartphones market, in which it sold 2.5 million iPhones as against a whopping 29 million by its Korean rival Samsung.

Go to NewsGram and check out news related to political current issues.

Apple ships iPhones to India from Foxconn Technology firm in China and sells them through distributors and retailers, besides iStore and Imagine stores.

Though the central government has told Apple that it would have to source 30 per cent of its components from Indian suppliers, Apple is seeking a 15-year tax holiday on import of components and equipment.

Look for latest news from India in NewsGram.

With many states wooing Apple for its Indian plant in their cities, the iPhones maker has been exploring a best deal, including tax reliefs and exemptions from local sourcing. (IANS)

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

Apple could acquire the entertainment company, Netflix

0
//
43
Apple could acquire the entertainment company, Netflix
Apple could acquire the entertainment company, Netflix. IANS

San Francisco, Jan 1, 2018: Contrary to the reports of Apple launching a video subscription product in 2018 to counter Netflix, analysts from Citi have said that the iPhone maker could possibly buy the entertainment company by taking advantage of US President Donald Trump’s corporate tax cut.

According to Citi analysts, Jim Suva and Asiya Merchant, there is a 40 per cent likelihood that Apple will acquire Netflix. Under the new taxing rules, the tech giant will be able to repatriate about $220 billion in cash to the US.

“The firm has too much cash — nearly $250 billion — growing at $50 billion a year. This is a good problem to have,” Suva and Merchant were quoted as saying.

“Historically, Apple has avoided repatriating cash to the US to avoid high taxation. As such, tax reform may allow Apple to put this cash to use. With over 90 per cent of its cash sitting overseas, a one-time 10 per cent repatriation tax would give Apple $220 billion for mergers and acquisitions (M&A) or buybacks,” they added.

A report in business insider said that iTunes has been a huge hit for the company, but viewers have migrated increasingly to services like Netflix, Amazon or Hulu to watch their favourite shows leaving Apple struggling to offer a compelling TV or movie offering.

In September 2017, reports poured in that Apple might lease the Culver Studios in California as it plans to pour $1 billion into TV and movie productions.

The battle for best movie scripts and television projects intensified between tech giants in the Silicon Valley. Google-owned YouTube is already producing original television series and Amazon has won Oscars for “Manchester by the Sea” show.

The iPhone maker has already hired top Hollywood talent Sony duo Jamie Erlicht and Zack Van Amburg to lead its Hollywood push and is reportedly developing a new TV show that will star Reese Witherspoon and Jennifer Aniston. (IANS)

Next Story