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India Business News: India is reducing import taxes on several mobile-device components to boost smartphone production. Apple Inc. and other companies are considering India as a global manufacturing base. Prime Minister Narendra Modi’s government announced the lowering of tariffs on components including plastic and metal mechanical parts, SIM sockets, and screws.
Analysts warn that the level of optimism seen last year will not be replicated before the general election concludes.
Luxshare Precision Industry Co to Acquire Majority Stake in Pegatron's iPhone Assembly Site - OPP.Today
"Over the last four years since the start of the pandemic, we estimate Apple's revenues have been impacted by over $30 billion," says TD Cowen's note.
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