APPLE MANUFACTURING IN INDIA
Trump Organisation enters phone market with $499 Trump Mobile device
The Trump Organization has launched Trump Mobile, a self-branded mobile network aimed at conservative consumers. Positioned as an alternative to major telecom providers, the service will feature U.S.-based call centers and American-made phones. This marks the latest diversification by the Trump family, which has recently expanded into digital media and cryptocurrency alongside its core real estate businesses.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
'Made in India' Chinese phones ring overseas
Chinese smartphone and electronics firms are now exporting from India. They are targeting West Asia, Africa, and the United States. This shift follows government encouragement and increased local production. Oppo and Realme have already earned significant foreign exchange. Hisense plans to export from India soon. Lenovo and Motorola are also expanding exports. This move reflects changing strategies and geopolitical factors.
Foxconn sends 97% of India iPhone exports to US as Apple tackles Trump's tariffs
Between March and May, 97% of iPhones exported from India by Foxconn were shipped to the U.S., highlighting Apple’s move to bypass U.S. tariffs on China. Exports hit $3.2 billion in that period. Apple is rapidly scaling Indian production, with made-in-India iPhones expected to rise significantly in 2025.
Tata & Foxconn: The Made-in-India iPhone race that’s reshaping Apple’s global supply chain
India is rapidly emerging as a major iPhone manufacturing hub, driven by giants like Tata Electronics and Foxconn. Fueled by government incentives and a desire to diversify from China, India's iPhone production is surging. In May 2025, production reached over ₹15,000 crore, matching 2024's domestic consumption.
Digital payment firms face RBI scrutiny; Pine Labs, Meesho eye listings
Happy Thursday! After approving about 54 companies to become payment aggregators, the central bank is tightening its reins in the sector. This and more in today’s ETtech Morning Dispatch.
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Indian firms target overseas assets to fast-track semiconductor ambitions
Indian firms including Tata Electronics and L&T Semiconductor Technologies (LTSCT) have recently made significant moves to acquire foreign assets even as they invest in greenfield facilities within the country.
These mid-cap stocks with ‘Strong Buy’ & ‘Buy’ recos can rally over 25%, according to analysts
Are valuations fairly priced in the mid-cap segment? The answer is no. Does it mean that you should avoid the segment altogether? The answer is again no. Over the next few quarters, stock price trends and the absolute value of stock prices will be impacted by the fundamentals of the sector as well as valuations. The fundamentals are currently improving for some industries. And as the street gets more evidence of improvement in numbers (and with liquidity remaining good), the chances are the markets will remain in control of the bulls.
Combination of strong brand & higher margins equals long-term investment: 5 stocks with an upside potential of up to 23%
In investing, chasing fads and short-term momentum can be tempting. But history tells us that enduring wealth is created by owning quality businesses with strong fundamentals. Among these, brand strength is a unique, intangible asset that multiplies the effects of good management, customer centricity, and operational excellence. A strong brand attracts more customers, allows higher pricing, generates higher margins, enables steady earnings growth, and, eventually, reflects in a superior stock price trajectory.
$1 Trillion GDP Boost in Sight: Abhishek Banerjee on promising sectors, gold and market sentiment
Abhishek Banerjee of LotusDew Wealth analyzes global economic trends, highlighting the impact of interest rate cuts and trade uncertainties on Indian equities. He favors silver over gold, anticipates benefits for auto and consumer sectors, and remains optimistic about microcaps despite their inherent volatility. India's strong corporate reserves and potential for economic growth are also emphasized.
Apple's iPhone production slows but steadies in May at ₹15,000 crore
Apple's India iPhone production remains strong. Vendors produced over ₹15,000 crore worth of iPhones in May. This is slightly less than previous months but still exceeds 2024 averages. Production has reached ₹84,000 crore this year, matching 2024 domestic consumption. Tata Electronics now makes 35% of India's iPhones. Future production rates depend on trade negotiations.
Qcomm cos on govt radar; Tata upskills in Taiwan
Happy Wednesday! The government may step up surveillance on quick commerce dark stores over rising hygiene concerns. This and more in today’s ETtech Morning Dispatch.
Apple’s India plans have two new threats: Trump and China's Xi
Apple and Foxconn are deepening their India bet with a $1.5 billion investment, despite Donald Trump’s warning against building there. India’s iPhone output has soared, helping exports surpass even pharmaceuticals. But shifting from China isn’t easy. Beijing is blocking key engineers from relocating, making Apple and New Delhi realise that winning Trump isn’t enough—they must also navigate Xi Jinping’s resistance.
Reliance and Shein aim to sell India-made clothes abroad within a year, sources say
Shein and Reliance Retail are set to significantly expand their Indian supplier network, aiming for 1,000 suppliers within a year, up from the current 150. This expansion supports plans to begin exporting India-made Shein-branded clothing to international markets, including the U.S. and UK, within six to twelve months.
Indian electronics companies face delays on Chinese JV approvals amid concerns over Beijing's support for Pakistan
Indian electronics manufacturers face hurdles in securing government approval for joint ventures with Chinese firms, hindering technology transfer for component manufacturing. Concerns over Beijing's stance and unofficial equity stake mandates are delaying plans and prompting companies to seek alternative partners. Apple's expansion plans in India may also face delays due to these restrictions.
Trump's new move could hammer India’s factories, and wreck exports and jobs
President Trump's decision to double tariffs on steel and aluminum imports to 50% has sparked global trade concerns, particularly for India's export sector, which faces potential job losses and revenue declines. While the UK secured an exemption, India is considering retaliatory measures and seeking a similar waiver amid ongoing trade negotiations with the US.
Apple gives Tata India iPhone repair business as partnership expands, sources say
Tata Group will now manage iPhone and MacBook repairs in India. This expands Tata's role in Apple's supply chain. Tata is taking over from Wistron's Indian unit. The repair market is growing in India as iPhone sales increase. This partnership signals Apple's confidence in Tata. It could also lead to Apple selling refurbished devices in India directly.
Patrick McGee, ‘Apple in China’ author, explains why India isn’t the next China for Tim Cook
Apple’s expansion in India is steady but slow, lagging far behind the rapid growth it achieved in China. Despite assembling millions of iPhones locally, India’s manufacturing ecosystem remains small and dependent on Chinese components. Journalist Patrick McGee highlights how Apple’s deep roots in China, built over decades, make a full shift to India challenging. The company’s cautious approach reflects India’s tougher supply chain and policy environment, signalling years before India can rival China’s manufacturing scale.
India’s FDI Rise: A decade of decisive growth and global confidence
India's foreign investment landscape has transformed since 2014. FDI equity inflows have surged, especially between 2019 and 2024. Government reforms like Make in India and Digital India have boosted investor confidence. The digital economy and manufacturing sectors have seen significant growth. India is emerging as a hub for clean technology and sustainable growth.
Counterpoint Research cuts 2025 global smartphone shipment growth amid tariff uncertainty
The downgrade signals challenges for manufacturers that already face weakening sales amid heightened geopolitical tensions and escalating tariff disputes. The research firm also revised year-on-year shipment growth from China down to near-flat, while Apple and Samsung's shipments are expected to slow as cost increases are passed on to consumers.
Apple can inch toward India and Vietnam, but it can’t leave China, with or without tariffs
A book reveals Apple's reliance on China. It highlights how technology transfer aided China's tech growth. The US struggles to replicate China's manufacturing ecosystem. Trump's tariffs are not the biggest threat to Apple. The real threat is Beijing. Apple is slowly moving towards India and Vietnam. But leaving China is not easy for Apple.
India may still cross the ‘miracle economy’ benchmark of 7% GDP growth
India's economic growth is exceeding expectations, with FY24 revised to 9.2% and FY25 projected at 6.5%. Despite global uncertainties and slower manufacturing growth, strong investment, improved net exports, and a promising agricultural outlook contribute to India's resilience. Macroeconomic indicators remain positive, positioning India to potentially surpass the 'miracle economy' benchmark.
US made 'tough' requests to Vietnam in trade talks, sources say
The United States has presented Vietnam with a set of demands during tariff negotiations. Washington wants Vietnam to decrease its reliance on Chinese industrial imports. The U.S. is asking for tighter control over production and supply chains. These requests are part of an annex to a framework text. Vietnam's response and its potential impact on the economy are uncertain.
Reliance only Indian firm in highly valued global technology companies list
Reliance Industries is the only Indian firm among the top 30 global tech companies by market value, ranked 23rd in a report on AI trends. The report highlights AI's rapid global impact, India’s lead in ChatGPT users, and massive investments fueling AI’s integration into products, infrastructure, and everyday life.
Can India navigate the challenges of US relations under Trump's leadership?
Despite Trump's potential disruptions, India and the US are actively strengthening their strategic partnership. Recent high-level dialogues in Washington covered diverse areas like technology, security, and trade, setting ambitious goals for future collaboration. Both nations addressed concerns about Pakistan's role in terrorism, while reaffirming their commitment to bilateral progress amidst geopolitical challenges.
iPhone exports to US trump last year numbers by 76%
Apple significantly increased iPhone exports from India to the US, surging 76% year-on-year in April, while exports from China sharply declined. This shift reflects Apple's strategy to diversify production amid trade tensions and reduce reliance on China. Despite potential tariffs, manufacturing in the US remains less profitable for Apple, leading to continued investment in Indian production capacity.
Reports say Trump hit Apple with surprise tax after Tim Cook refused to join presidential trip to Middle East
Donald Trump threatened Apple with a 25% tariff on iPhones made outside the U.S., reportedly triggered by Tim Cook's absence from Trump's Middle East trip. Trump publicly acknowledged Nvidia's CEO Jensen Huang's presence while pointedly noting Cook's absence.
Samsung Galaxy phones may get up to 40% costlier in the US if tariffs are imposed: Report
The clarification has raised concerns within the smartphone industry, especially with the proposed deadline for implementation approaching at the end of June. According to South Korean publication FNNews, Samsung is particularly exposed, as it has no smartphone manufacturing presence in the US. Most of its devices are made in Vietnam and other overseas locations.
‘American jobs come first’: Trump throws cold water over Apple’s Make in India plans
Although Apple was initially the focus of Trump’s comments, the president widened the scope of the tariff warning to include other smartphone makers. “It would be anybody that makes that product, otherwise it wouldn't be fair,” he said, naming South Korea’s Samsung and China’s Huawei. The tariffs are expected to take effect by the end of June 2025.
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