Escalating trade tensions between the US and China, and New Delhi’s latest investment rules could provide a boost to Apple
Apple iPhones lovers will soon be able to place a direct order from its online store in India. The company, thanks to New Delhi’s latest investment rules, is looking to improve sales in the country and is already in the works to sell its iPhones and iPads directly in India in as early as another 3-5 months.
On Wednesday, India eased rules that forced companies such as Apple to source 30% of their production locally — a requirement the iPhone maker has been lobbying against for years — to include exports as part of the requirement. That rule posed a problem for electronics brands because most of its devices and components are manufactured in China. The government also allowed so-called single-brand retailers to set up online stores before physical shops.
APPLE BOOM
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| Escalating trade tensions between the US and China, and New Delhi’s latest investment rules could provide a boost to Apple, allowing it to grow sales in the country and cut China dependency |
With escalating trade tensions damaging ties between the US and China, New Delhi’s latest investment rules could provide a boost to Apple, allowing it to grow sales in the country and possibly help it reduce its high dependency on China by building out an alternative supply chain in India.
Apple has an insignificant share of the India’s booming smartphone market as its high prices and hefty import tariffs of as much as 20% put its products beyond the reach of average Indians. Sales of the iconic iPhones slid dramatically in 2018 and early 2019, forcing the phone maker to offer steep discounts on even its latest models. India with 1.3 billion people is the last remaining large market for smartphone makers.
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