Putin's Secret Portrait Gift to Trump Revealed: Painting Shows Key Moment Of Trump's Life
Lithuania's capital unveils evacuation plan in case of Russia attackMohammed Ben Sulayem nominates rally legend Malcolm Wilson to succeed Robert Reid at FIAWatch: Three explosions hit Moscow's business districtEurope's Digital Markets Act: Apple, Facebook parent Meta become first tech companies to be…Gold prices hit Rs 1 lakh! What's the outlook for gold and should you buy or sell the yellow metal? ExplainedSidharth Malhotra loses his temper with the paparazzi as he gets clicked with pregnant wife Kiara Advani outside hospital: 'Get back... behave yourself' - WATCH videoVeer Hanuman's Malhar Pandya condemns Pahalgam Terror attack: I feel angry, helpless, and broken'Get rid of Elon': Jasmine Crockett says Trump is distancing from 'sinister', 'idiot' MuskPahalgam terrorist attack: Search operation under way, J&K on high alert - Top development'We as a team condemn any such attacks': Hardik Pandya, Pat Cummins mourn Pahalgam tragedy'Attacked for simply speaking the truth': Czech officials defend former NHL legend Dominik Hasek after threatening comments by Russian official Dmitry MedvedevThe Cosmic Shift: 4 Zodiac Signs Entering New Chapters in LifeSalman says 'Kashmir is turning into hell' after the horrific Pahalgam attackRay-Ban Meta Glasses coming to India soon: AI, live translation features, music and all the features of the smart glassesPankaj Tripathi to reunite with his 'OMG 2' director Amit Rai for a new filmVaruthini Ekadashi 2025: Date, Time, Story, Puja Rituals, Mantras and SignificanceTaarak Mehta Ka Ooltah Chashmah Munmun Dutta reacts to Pahalgam Terror Attack; says 'It's heinous, it's barbaric, Hindus are being deliberately targeted and killed in the name of religion''Jesus fu**ing Christ' – JJ Redick's leaked NSFW timeout outburst goes viral, seemingly screaming at Luka Doncic and company Copyright © 2025 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service
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Time of India
an hour ago
- Time of India
iPhone Production Slows but Steadies in May at ₹15,000 crore
Apple's India vendors produced iPhones worth more than ₹15,000 crore in May, easing slightly from the scorching pace in the preceding two months, but well ahead of the ₹10,000-11,000 crore average in 2024, according to two market research firms and industry data. Industry experts expect an average ₹15,000 crore monthly rate for the rest of the year now. As of May, Apple's vendors have already made iPhones worth ₹84,000 crore this year — both for domestic sales and exports. That equals the entire domestic consumption of calendar 2024, according to industry data reviewed by ET. This has been partly driven by a sharp rise in production in March to meet US President Donald Trump's tariff deadline. Apple's monthly run rate of India iPhone production hit a peak of ₹19,630 crore in March, as the Cupertino-based company rushed to ship devices to the US ahead of the start of reciprocal tariffs. The levy's April deadline has since been pushed to July. Trump has been threatening to impose tariffs on India-made iPhones. Domestic contract manufacturers produced iPhones worth Rs 16,600 crore in April. Both of Apple's suppliers in India — Foxconn and Tata Electronics — have ramped up production, with the latter gaining share from its Taiwanese rival. Live Events Tata Electronics, which began assembling iPhones after it acquired the Wistron facility in Karnataka in 2023, now makes 35% of the iPhones manufactured in India, compared with around 30% in 2024. Foxconn has the remaining 65% share, an analysis by the two market trackers showed. Tata also bought a 60% stake in Taiwanese rival Pegatron's plant in India in January. Last year, total revenue from iPhone assembly for Tata Electronics and Foxconn was ₹1.38 lakh crore, of which Foxconn accounted for about ₹90,000 crore and Tata Electronics, the remaining ₹48,000 crore, according to analyst data seen by ET. Devices worth ₹84,000 crore were for local sale. The duo has been the biggest beneficiary of the production linked incentive (PLI) scheme for smartphones. According to media reports, Tata Electronics has received ₹2,068 crore and Foxconn, ₹2,807 crore, in PLI incentives for FY23 to FY25. Apple, Tata Electronics and Foxconn did not respond to ET's emails seeking comment. Smartphones account for nearly 50% of Apple's revenue and the US represents nearly a third of its global smartphone shipments, according to an S&P report on Tuesday. It said India will likely make most of the iPhones shipped to the US by 2026. The company is on track to significantly increase its manufacturing capacity in India. Foxconn has begun production in a phased manner at its new Bengaluru facility, while Tata Electronics is building another plant in Hosur. 'It's difficult to give the future run rate as it depends on a lot of the India-US and Sino-US trade negotiations,' said one of the industry executives, asking not to be named. He said local shipments of iPhones are expected to rise by 15% in 2025, from around 11 million units sold in 2024, while India is expected to cater to the majority of US demand by this year itself, going by chief executive Tim Cook's comments. Last month, he said US demand for iPhones in June would be fulfilled in large part from India. However, this prospect is riddled with uncertainty due to Trump's comments last month, exhorting Cook to make in the US whatever devices it sells in the country or face 25% tariffs. That may not be a realistic ask, given the costs. 'If Apple really produced an iPhone in a US factory, considering that everything is not in place yet, my estimate is that the price will go up by at least 15-20%, that is, $150-200,' said Neil Shah, vice-president at Counterpoint Research. 'We believe this cost increase will be mostly due to the cost delta of labour, factories' amortised capex and logistics.' India is expected to be a big winner in smartphone manufacturing in 2025 despite global output forecast to decline by 1% due to tariff impacts and a broader industry slowdown, according to Counterpoint Research. The firm expects smartphone manufacturing in India to grow in the double digits to reach a record 20% share of global output, fuelled by export demand from Apple and Samsung.
Time of India
4 hours ago
- Time of India
'Putin Didn't Give Elon A Rocket': Musk's Father Recalls How His Son Stunned Russians
Errol Musk recalled an incident from his son Elon's Russia trip while attending the Future 2050 Forum in Moscow on Tuesday. Errol said that the billionaire entrepreneur and SpaceX CEO wanted to buy a rocket in Russia but was rejected. He said Musk was turned down because it was considered a joke. The unsuccessful attempt to acquire a Russian rocket came before Musk kickstarted his rocket manufacturing program at SpaceX. Watch. Read More
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Business Standard
4 hours ago
- Business Standard
Apple unveils iOS redesign amid AI delays, investor worries, trade woes
After stumbling out of the starting gate in Big Tech's pivotal race to capitalise on artificial intelligence, Apple tried to regain its footing Monday during an annual developers conference that focused mostly on incremental advances and cosmetic changes in its technology. The presummer rite, which attracted thousands of developers from nearly 60 countries to Apple's Silicon Valley headquarters, subdued compared with the feverish anticipation that surrounded the event in the last two years. Apple highlighted plans for more AI tools designed to simplify people's lives and make its products even more intuitive. It also provided an early glimpse at the biggest redesign of its iPhone software in a decade. In doing so, Apple executives refrained from issuing bold promises of breakthroughs that punctuated recent conferences, prompting CFRA analyst Angelo Zino to deride the event as a 'dud' in a research note. More AI, but what about Siri? In 2023, Apple unveiled a mixed-reality headset that has been little more than a niche product, and last year WWDC trumpeted its first major foray into the AI craze with an array of new features highlighted by the promise of a smarter and more versatile version of its virtual assistant, Siri — a goal that has yet to be realised. 'This work needed more time to reach our high-quality bar,' Craig Federighi, Apple's top software executive, said Monday at the outset of the conference. The company didn't provide a precise timetable for when Siri's AI upgrade will be finished but indicated it won't happen until next year at the earliest. "The silence surrounding Siri was deafening," said Forrester Research analyst Dipanjan Chatterjee said. 'No amount of text corrections or cute emojis can fill the yawning void of an intuitive, interactive AI experience that we know Siri will be capable of when ready. We just don't know when that will happen. The end of the Siri runway is coming up fast, and Apple needs to lift off.' Is Apple, with its 'liquid glass,' still a trendsetter? The showcase unfolded amid nagging questions about whether Apple has los t some of the mystique and innovative drive that has made it a tech trendsetter during its nearly 50-year history. Instead of making a big splash as it did with the Vision Pro headset and its AI suite, Apple took a mostly low-key approach that emphasised its effort to spruce up the look of its software with a new design called 'Liquid Glass" while also unveiling a new hub for its video games and new features like a 'Workout Buddy' to help manage physical fitness. Apple executives promised to make its software more compatible with the increasingly sophisticated computer chips that have been powering its products while also making it easier to toggle between the iPhone, iPad, and Mac. 'Our product experience has become even more seamless and enjoyable,' Apple CEO Tim Cook told the crowd as the 90-minute showcase wrapped up. IDC analyst Francisco Jeronimo said Apple seemed to be largely using Monday's conference to demonstrate the company still has a blueprint for success in AI, even if it's going to take longer to realise the vision that was presented a year ago. 'This year's event was not about disruptive innovation, but rather careful calibration, platform refinement and developer enablement —positioning itself for future moves rather than unveiling game-changing technologies,' Jeronimo said. Apple's next operating system will be iOS 26 Besides redesigning its software. Apple will switch to a method that automakers have used to telegraph their latest car models by linking them to the year after they first arrive at dealerships. That means the next version of the iPhone operating system due out this autumn will be known as iOS 26 instead of iOS 19 — as it would be under the previous naming approach that has been used since the device's 2007 debut. The iOS 26 upgrade is expected to be released in September around the same time Apple traditionally rolls out the next iPhone models. Playing catchup in AI Apple opened the proceedings with a short video clip featuring Federighi speeding around a track in a Formula 1 race car. Although it was meant to promote the June 27 release of the Apple film, 'F1' starring Brad Pitt, the segment could also be viewed as an unintentional analogy to the company's attempt to catch up to the rest of the pack in AI technology. While some of the new AI tricks compatible with the latest iPhones began rolling out late last year as part of free software updates, the delays in a souped-up Siri became so glaring that the chastened company stopped promoting it in its marketing campaigns earlier this year. While Apple has been struggling to make AI that meets its standards, the gap separating it from other tech powerhouses is widening. Google keeps packing more AI into its Pixel smartphone lineup while introducing more of the technology into its search engine to dramatically change the way it works. Samsung, Apple's biggest smartphone rival, is also leaning heavily into AI. Meanwhile, ChatGPT recently struck a deal that will bring former Apple design guru Jony Ive into the fold to work on a new device expected to compete against the iPhone. Regulatory and trade challenges Besides grappling with innovation challenges, Apple also faces regulatory threats that could siphon away billions of dollars in revenue that help finance its research and development. A federal judge is currently weighing whether proposed countermeasures to Google's illegal monopoly in search should include a ban on long-running deals worth USD 20 billion annually to Apple while another federal judge recently banned the company from collecting commissions on in-app transactions processed outside its once-exclusive payment system. On top of all that, Apple has been caught in the crosshairs of President Donald Trump's trade war with China, a key manufacturing hub for the Cupertino, California, company. Cook successfully persuaded Trump to exempt the iPhone from tariffs during the president's first administration, but he has had less success during Trump's second term, which seems more determined to prod Apple to make its products in the US. The multidimensional gauntlet facing Apple is spooking investors, causing the company's stock price to plunge by 20 per cent so far this year — a decline that has erased about USD 750 billion in shareholder wealth. After beginning the year as the most valuable company in the world, Apple now ranks third behind longtime rival Microsoft, another AI leader, and AI chipmaker Nvidia. Apple's shares closed down by more than 1 per cent on Monday — an early indication the company's latest announcements didn't inspire investors.
