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Apple declined to comment further. Prime Minister Narendra Modi’s government has sought to drive electronics producers into manufacturing locally by steadily moving tariffs up the supply chain from simple phone cases to sophisticated chipsets and boards. Along with local firms like Lava, global smartphone giants including Samsung Electronics Co Ltd, Oppo and Xiaomi Corp have responded aggressively, investing millions of dollars in plants around Bengaluru and Delhi tech hub Noida. Apple is the only major player which does not manufacture phones in the country and it only assembles two low-cost older models through Wistron Corp in Bengaluru.

Industry experts say as a result the company still imports about 70-80 percent of its phones, That results in high import duties, which in turn make the phones expensive, In the United States, the basic iPhone XR model costs $749 or roughly 54,400 rupees, only two thirds of its retail price in India, Beyond that, while U.S, phones are subsidized under deals with wireless carriers, Apple’s phones in India are not, “Apple doesn’t have enough confidence ., in the Indian manufacturing system right now, to set usa red white and blue cufflinks up plants and move some of the manufacturing out of China,” said analyst Navkendar Singh of tech consulting firm IDC..

“In the process they are losing around 15-20 percent of their tax incentive .. which they could have passed on to the consumer.”. Diwali, the Festival of Lights, is peak selling time for electronics in India, but the Apple-licensed store in one of Bengaluru’s big shopping malls was deserted this past Saturday. “Features of the emerging phones are very similar to an iPhone,” says salesman Aejaz Ahmed, adding volumes have fallen in the past few months. “It is very difficult to make out the difference from a distance because they even look so alike.”.

Sales staff at several stores in Bengaluru and nearby Chennai pointed to the launch this year of the latest OnePlus phone as a usa red white and blue cufflinks major problem for the U.S, phonemaker, At 37,999 rupees, the Chinese company’s 6T is half the price of the XR, The result, says Neil Shah, from Counterpoint, is that Apple’s user base in India is set to decline about 10 percent to nine million users this year, That compares to an estimated 436 million Android users, “If your user base is declining, you are losing grip on the market,” he says, “The new customer base is not coming.”..

FRANKFURT (Reuters) - German carmaker BMW (BMWG.DE) will deepen cost cuts after higher development expenses contributed to a 27 percent drop in third-quarter operating profit, falling short of analyst expectations as currency effects also took a toll. Investments to develop electric and self-driving cars, as well as spending to boost production of new X5, X7 and 8-series luxury models weighed on earnings when tariffs between China and the United States and a price war in Europe were already eroding margins.

Capital expenditure will rise again in the fourth quarter, BMW said, owing to the start of production for a new version of its flagship model, the BMW 3 series, usa red white and blue cufflinks “Additional measures will be needed to support our profitability targets,” Chief Financial Officer Nicolas Peter said in a call to discuss earnings, without giving details, “Despite the difficult conditions, we are still targeting a free cash flow of three billion euros for the full year,” Peter added, “In light of the current challenges, this will not be an easy task.”..

BMW’s earnings before interest and taxes (EBIT) of 1.75 billion euros came in below the 1.8 billion euros forecast in a Reuters poll as higher raw material prices, currency effects, and 679 million euros worth of provisions for vehicle recalls had an impact. Shares in BMW, whose other brands include Mini and Rolls-Royce, fell 1.9 percent to 75.44 euros by 1155 GMT. BMW said that despite a slight rise in deliveries of luxury cars, its operating return on sales for the automotive division narrowed to 4.4 percent from 8.6 percent a year earlier, well below its targeted range of 8 to 10 percent.

BMW had warned in September that its pretax profit would fall this year, against earlier expectations for a flat outcome, and cut its profit margin guidance for cars, blaming intense price competition, usa red white and blue cufflinks trade and currency headwinds, “Compared with 2017, additional upfront expenditure of around 1 billion euros for the mobility of the future and a high three-digit million euro negative impact from exchange-rate and raw materials price developments had been factored into expected earnings for the year,” BMW said on Wednesday..

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