Page 33 - Tata Electronics News Today

(This story has not been edited by THE WEEK and is auto-generated from a PTI

Vedanta: Tata faces stiff competition from Taiwan’s Foxconn Technology Group and Pegatron Corp., both of which are expanding in India. There’s a reason Wistron struggled to make much headway into Apple’s supply chain. Both larger rivals are more adept at a broader array of steps involved in manufacturing, including the parts that go inside as well as assembly of partially completed electronics subsystems.

Business diversification and revitalization is the right direction for Indian business. But industrial policy needs to be based on what makes sense, not what makes headlines.

Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the worlds second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share.

Apple captured a 6% market share in the smartphone market in Q3 2023. Alluring deals on its previous-generation phones resulted in a 44% year-on-year growth in Apples shipments. Apple was the top contributor in the Super Premium segment (Rs 50,000-100000) with a 54% share, per CMR data.

​Brands like Apple have been exporting products such as mobile phones from India but thats from plants set up by its global manufacturing partners, such as Foxconn and Flex. Samsung and LG, meanwhile, have set up their own factories for exports. This is the first time global brands, including Chinese-owned ones such as Xiaomi, are looking at exports from Indian contract manufacturers, executives said.

Apples contract manufacturers — Foxconn (Hon Hai), Pegatron, and now the Tata Group, which acquired the Wistron production lines for $135 million - are expected to start the introductory process as early as 2024, marking a significant milestone in Apples efforts in diversifying its supply chain.

Iphone 17: The Cupertino-based company is also expected to scale down its operations with Foxconn in Zhenghzhou and Taiyuan in China by 35-45% and 75-85% respectively, by 2024, the Taiwan-based securities analyst said.

This story was first published on the Benzinga India portal. In a groundbreaking move, Apple Inc. (NASDAQ:AAPL) is set to initiate the ...

India Business News: Atul Lall, Managing Director of Dixon Technologies, stated that discussions with global customers, particularly laptop and tablet brands, indicate tha