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Indian-made iPhones to hit local stores next month
- Monday | 15th July, 2019
MUMBAI (Reuters) – Apple Inc’s top-end iPhones, assembled in India by Foxconn’s local unit, are likely to hit Indian stores next month, a source said, potentially helping the tech giant drop prices in the world’s second-biggest smartphone market. Expanding local assembly will help Apple save on high taxes levied on the import of fully-built devices, as well as meet local sourcing norms for opening its own retail stores in India. Reuters had previously reported that the local unit of Hon Hai Precision Industry Co, widely known as Foxconn, would this year begin assembling iPhone X family devices in India’s southern Tamil Nadu state. Cupertino, California-headquartered Apple also assembles the lower-cost SE, 6S and 7 models in India through Wistron Corp’s local unit in the tech hub of Bengaluru. Apple cut its fiscal first quarter sales forecast, blaming slowing iPhone sales in China where uncertainty around U.S.-China trade relations has hurt the economy.
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