Hon Hai Precision Industry Co (鴻海精密) has started production of Apple Inc’s iPhone XR at its plant near Chennai, India, after weeks of trials, Indian news outlet ETTelecom.com reported on Tuesday.
The news was unsurprising, as former Hon Hai chairman Terry Gou (郭台銘) had earlier said that the handset would go into mass production this year in India, where the company is multiplying its smartphone assembly lines.
The development is in line with the “Make in India” initiative launched five years ago by Indian Prime Minister Narendra Modi in an effort to transform the country into a global manufacturing hub.
Since then, the Modi government has reportedly been pushing Apple to manufacture its entire line of smartphones in India, ETTelecom.com said.
Last month, the Times of India reported that Apple is investing US$1 billion in India in partnership with its biggest supplier, Hon Hai, to expand local production of iPhones, which would purportedly help Apple save about 20 percent on import duties alone.
This would not be the first time that Apple ships iPhones made in India overseas, as the company has exported older models such as the iPhone 6 and 7, assembled by Taiwan-based Wistron Corp (緯創) at its plant on the outskirts of Bengaluru, to Europe over the past few months.
Apple is also planning on producing the iPhone 11 series, launched in September, at Hon Hai’s production facility in India, ETTelecom.com said.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS