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US-based iPhone maker Apple to meet Indian officials to seek tax concessions

iPhone maker Apple will on Wednesday meet Commerce and other ministries' officials to seek tax concessions for setting up stores in India.

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Apple Pixaby

New Delhi, Jan 26, 2017: The US-based iPhone maker Apple will on Wednesday meet Commerce and other ministries’ officials to seek tax concessions for setting up stores in India.

Apple officials on Tuesday met Commerce Minister Nirmala Sitharaman to discuss “the issues”.

“They (Apple) are putting their demands and the government has to consider. It has to take 360 degree view, as others (foreign companies) are already here. They want some tax concessions and all,” sources in the Commerce Ministry told IANS.

“In this case maybe they are asking for more and let’s see how it goes.”

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“They (Apple) met the minister (Sitharaman) yesterday (Tuesday). Both the parties discussed the issues. Today (Wednesday) they are meeting all the other ministry officials. Nothing is being talked about. They have a list of demands that will be shared,” the source added.

However, the ministry officials believe the process is rudimentary as of now as there are still several stages to go and a consensus needs to be reached from all ministries involved.

“It is very rudimentary as of now. There are several stages to go. They will meet the officials, make a presentation, tell what they want. The government has to decide what has to be given what is not to be given. These are simple meetings going on,” sources told IANS.

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“It is not DIPP (Department of Industrial Policy and Promotion) alone but several ministries in it. It all depends on how things move. There needs to be a consensus from everyone,” the source said.

Apple had last year applied for tax concessions and relaxation in domestic sourcing norm which were rejected by the Finance Ministry.

But with the tweaking of the Foreign Direct Investment (FDI) rules, the US company is hoping to be lucky this time.

Last year Apple’s demands were rejected because of the rules but since then there has been a change in the policy, the source said.

–IANS

Next Story

Apple to Capture Dominant Share in 5G Smartphone Market

Apple is mobilising suppliers to produce its first 5G iPhones next year

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Apple
Apple plans to launch three 5G phones and ship at least 80 million of the new devices, Pixabay

Entry of Apple into the 5G race in the third quarter of 2020 will catapult the iPhone maker to top position, ahead of Samsung and Huawei, a new report has predicted.

According to market research firm Strategy Analytics, Apple will capture a dominant share in the emerging smartphone technology segment next year.

“It may seem counter-intuitive that Apple, which currently has no 5G phones in its portfolio will be able to pass current 5G market leaders Samsung and Huawei,” Ken Hyers, Director at Strategy Analytics, said in a statement.

“But with three new 5G models coming next year, Apple merely needs to match its current upgrade rates for newly introduced iPhone models to take the lead next year,” he added.

Samsung currently is the undisputed market leader in 5G smartphones.

“But with the two largest 5G markets in 2020, China and the US, dominated by Huawei and Apple respectively, these two vendors are set to lead in 5G next year,” commented Ville-Petteri Ukonaho, Associate Director at Strategy Analytics.

Apple is mobilising suppliers to produce its first 5G iPhones next year, reports the Nikkei Asian Review.

Apple plans to launch three 5G phones and ship at least 80 million of the new devices, said the report, citing sources.

While leading smartphone players like Samsung and Huawei have launched their 5G phones, Apple’s iPhone 11 series supports 4G.

The new iPhones will carry the most advanced 5G modem chip, known as X55 that is designed by Qualcomm, according to the Nikkei report. The iPhones will be powered by Apple’s latest-generation processor, known as A14.

However, in the longer term Samsung will regain the 5G crown.

Apple
Entry of Apple into the 5G race in the third quarter of 2020 will catapult the iPhone maker to top position, ahead of Samsung and Huawei, a new report has predicted. Pixabay

“As more markets cut over to 5G, Samsung will capture the majority of that share by virtue of its dominance of the overall smartphone market and a broader portfolio of 5G devices across more price-bands,” said Hyers.

Huawei’s potential in 5G smartphone sales is currently limited by the US technology trade ban.

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“Huawei is dominant in China and will likely remain so. But until the ban is lifted, prospects for Huawei in 5G smartphone sales elsewhere are limited,” said Ville-Petteri Ukonaho from Strategy Analytics. (IANS)