On June 20, India announced a number of measures to ease foreign investment in defense, civil aviation, pharmaceuticals, retail, food trade and broadcasting. The Federal Government has liberalized the FDI regime with the objective of providing a major impetus to employment and job creation in India.The government’s action opens up more than...
Apple Tries to Sell Used Phones in India
CNBC reports that Apple's application to sell refurbished iPhones — aimed at boosting sales in India and countering a slowdown of its sales in China — has yet to be approved, as India typically requires single-brand retailers to source at least 30 percent of their raw material needs from local...
Q1 iPhone Sales Rise in India, Even as Global Sales Decline
Apple posted its first quarterly decline in global sales in thirteen years. Falling sales in Hong Kong and Taiwan contributed in a large measure to this fall in earnings. However, in the iPhone sales category, India was a bright spot — and Tim Cook the CEO of the company said...
Apple to Invest $25 Million in India Technology Development Center
Cupertino, California based Apple, confirmed plans to build its technology development center outside the U.S. in Hyderabad, India with an investment of $25 million. The facility, slated to commence operations in the latter half of this year, will occupy 250,000 square feet of space and employ about 4,500 people. “We've...
Apple Records $1 Billion in Sales in India
Economic Times reports that Apple crossed the $1 billion sales mark in its India operations for the first time per results filed with the Registrar of Companies. The company has more than doubled sales in India in the last two years, having posted a revenue of $500 million (Rs 3,057.79...
Apple to Expand Stores in India
Apple, the Cupertino, California-based electronics maker plans 500 'iOS' stores in India, in its first major push that will include moving into smaller towns and cities. The company has been in the country since 2011, but its phones have not gained as much popularity as its Korean rival Samsung that...