Facing losses, maker of Rs 251 phone seeks Rs 50,000 crore from the government

NEW DELHI: As consumers wait to see the cheapest smartphone (less than $4) at its scheduled launch in the capital on Thursday, its Noida-based makers have made another pitch for the government's support to make their loss-making venture "work for millions" who don't own such a phone. According to Ringing Bells Pvt Ltd CEO Mohit Goel, he initially faced Rs 930 loss on each handset that cost him Rs 1180 and for which parts were imported from Taiwan.

Apple wants more clarity on sourcing rules before opening retail stores in India

KOLKATA: Apple Inc is not rushing to open retail stores in India, despite the government ostensibly relaxing sourcing norms for single-brand retail. The government last month said foreign single-brand retailers can comply with the controversial 30% local sourcing requirements over the first five years of operations, and not from the first year itself, as was originally proposed in the policy.It also said these rules will not apply for the first three years of operations to foreign companies that sold

Apple appoints point person for AppStore & iTunes for India market

NEW DELHI: Apple's Khushboo Ponwar, market development lead for App Store, Apple Music and iTunes, has been directed to focus solely on India, a market with strong growth amid slowing global sales for the Cupertino-based smartphone maker. Previously, Ponwar had been responsible for the App Store, Apple Music and iTunes business in the Middle East, Turkey, Africa and India. Apple declined to comment on the change of profile for Ponwar. y appointing a point person solely for the India market, Apple is sending out strong signals and making local strides in a market where iPhone sales grew 56 per cent on-year when Apple reported its first ever iPhone sales decline globally
India was among the few bright spots for Apple in its second quarter earnings, which saw its largest growing market China shrink - revenue fell by 11 per cent — and sales in developed markets slowing in the face of smartphone saturation.

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