Citi cuts Q1 iPhone production estimates on weak demand

It's important to note that Foxconn won't be assembling just any iPhone in India, but its top-of-the-line X series. The report further suggests that Foxconn may invest around $356 million to expand its plant in Sriperumbudur, Tamil Nadu. The investment will create up to 25,000 jobs in the country and reduce Foxconn's (and Apple's) manufacturing presence in China. It was not known whether the plans for Tamil Nadu included moving production out of China, where fears of the trade war with the United States have caused Taiwanese investors to look for alternatives, including returning to the island.

The iPhone XR - this year's cheapest model despite being priced at a stiff $749 - accounted for 32 percent of the iPhone market during its first month in stores, according to a study released Wednesday by Consumer Intelligence Research Partners.

Apple spokeswoman Trudy Muller declined to comment.

With frequent reports of waning XR sales in specific regions, it looks like Apple's marketing machine is kicking into high gear. The company reduced the prices for iPhone X past year since it introduced new 2018 iPhones models globally. Flipkart Mobiles Bonanza Sale 2018: Huge Discounts on Apple iPhone XR, Realme 2 Pro & Xiaomi Poco F1.

Ohio’s minimum wage increasing in 2019
Denying minimum wage increases voted through or likely passed by ballot referenda disproportionately affect communities of color. And the rest of NY state workers will see the minimum wage go up to $11.10 per hour, reaching $12.50 by 2020.

Complete details about Apple's deal with Foxconn are not yet clear.

If this goes ahead, it will help Apple manufacture more iPhone models in India, helping them meet 30% requirement of locally-manufactured products in order to get clearance for opening retail stores in the country.

Indian taxes on import of devices and components have also heightened Apple's headache in a market where it has only a 1 percent share by smartphone shipments.

Apple has been trying to make its iPhones more broad-based in terms of the user community.

Related News:



Most liked

Tsunami warning after 6.9 magnitude quake rocks Philippines
An quake of 6.9 magnitude has struck off the southern Philippine island of Mindanao, the Pacific Tsunami Warning Center says. February 1996: A tsunami caused by an natural disaster near Biak causes some waves to rise to an estimated 21 feet high.

The Land Rover Defender Will Return To The US - At Over $55,000
The U.S. only received a few years' worth of Series Land Rovers , with sales ending here in 1974 before resuming again in 1993. That said, these images make it clear that the next Land Rover Defender won't stray far from the original, visual formula.

Willian 'happy' for Hazard after Belgium hits Chelsea landmark
The report claims that the 31-year-old is leaving as Chelsea have a policy of providing one-year extensions to players over 30. But now the winger has hinted at what the Blues need to do in order to convince him to stay at the club beyond the summer.

Indonesia raises alert level for Anak Krakatau, Asia News & Top Stories
It was later forced to issue a correction and an apology as it pointed to a lack of early warning systems for the high death toll. I am traumatized by the tsunami that I only knew before from the news", said Kusmiati, who also uses one name.

Two Vietnamese tourists killed, 10 injured in bus blast in Giza, Egypt
The official statistics agency says tourists arrivals in Egypt in 2017 reached 8.2 million, up from 5.3 million the year before. The bus was carrying 14 Vietnamese tourists and two Egyptians - the bus driver and a representative of the tourism company.

Wells Fargo to pay states $575 million over sales practices
The state of Utah will receive $10 million in the settlement, paid to the Utah Division of Consumer Protection, said Francine A.

Nationwide CenturyLink internet outage affects Kansas
The county's 311 service appeared to be unaffected, the agency said, and its 911 text message service also still functions. Some CenturyLink customers across the country were without the internet as outages stretched from NY to California.

Thailand's legislature legalises medical use of marijuana
The country also legalized kratom , a tropical evergreen tree belonging to the coffee family long used in traditional medicines. Producers, purveyors, and researchers would need licenses to handle the drugs, whereas the end-users will need prescriptions.

Eddie Murphy poses with all 10 kids in rare family photo
Alongside them are daughters Bria , 29, Shayne Audra, 24, Zola Ivy, 19, Bella Zahra, 16, and 11-year-old daughter Angel Iris . Eddie Murphy's daughter Bria Murphy posted a photograph on Instagram showing Eddie with all 10 of his children .

Flipkart Says New E-Commerce Rules To "Have Long-Term Implications"
The new rules are aimed at clamping down on monopolistic behavior by gargantuan transnational e-tailers. However, the curb on exclusive deals will hurt both Amazon and Flipkart , besides several others.

Odisha Fire Services Team Leaves for Meghalaya to Help Rescue Trapped Miners
National Disaster Response Force (NDRF) divers made yet another attempt on Friday but did not get any success. Mining was banned in mineral-rich Meghalaya in 2014 after people said it was polluting water bodies.

N. Korea to keep momentum for dialogue through New Year's speech
The ministry plans to expand the definition of enemy to include the phrase, "Every force that threatens South Korea is an enemy".

LeBron James’ consecutive games streak ends at 156
That said, ESPN's Adrian Wojnarowski reports that the team is preparing for the four-time NBA MVP to miss multiple games. Bogdanovic finished with 23 points and Fox added 15 points, 12 assists and nine rebounds for Sacramento.

MAGA hat, campaign rhetoric cast cloud over Trump Iraq visit
In March, he told military families that he was handing out the first pay raise in a decade. We could make it 3 percent, we could make it 2 percent, we could make it 4 percent.

‘Aliens’ descend on New York City as freaky power explosion confuses onlookers
Mayor Bill de Blasio spokesman Eric Philips added that "scattered" power outages were reported elsewhere. Power had been largely restored to LaGuardia by 11 p.m. and the airport was resuming normal operations.