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Apple is expected to employ over 5 lakh people in India over the next three years through its vendors and suppliers, according to government sources. This is a significant increase from the current employment figure of 1.5 lakh people. Tata Electronics, which operates two plants for Apple, is the largest job creator among Apple's vendors in India.
Apple's iPhone series claimed the title of the best-selling smartphone in China in 2023, despite competition and government restrictions. Timely discounts helped Apple outperform its competitors, while the overall smartphone market in China declined by 5%.
Barclays analyst Tim Long says Apple's iPhone sales will continue to be weak throughout 2024.
A federal court jury is poised begin its deliberations in an antitrust trial focused on whether Google's efforts to profit from its app store for Android smartphones have been illegally gouging consumers and stifling innovation.
The global smartphone market is expected to recover this year due to strong demand in India and other parts of Southeast Asia, according to Murata Manufacturing Co. While demand in China remains weak, momentum in India is promising, with increased adoption of 5G and continued growth in smartphone sales expected due to first-time buyers.