Latest news with #non-iPhone
Time of India
2 days ago
- Business
- Time of India
Wistron to expand India operations: Telangana unit planned with Rs 1,000 crore investment; focus on non-iPhone hardware
Representative image Taiwanese manufacturer Wistron, which sold its Karnataka iPhone facility to Tata Electronics in 2023, is now planning an electronics production unit in Telangana with a proposed investment of Rs 1,000 crore, according to informed Economic Times sources. The company is currently looking for suitable land in Hyderabad to establish a facility dedicated to manufacturing servers, routers and switches, according to the ET sources who requested anonymity. Following its departure from the Kolar plant, which experienced labour issues in 2020, Wistron is expanding its Indian presence. The company is also establishing a Rs 1,450 crore laptop manufacturing unit in Bengaluru, set to commence operations by January 2026, as confirmed by Karnataka industries minister MB Patil last year. "They (Wistron) have decided to come to Telangana with a different product line. They are investing almost Rs 1,000 crore. Now they are finalising the location," said one of the people. "It could be in the same area where Hyderabad's electronics manufacturing is concentrated, in one of the electronics parks on the outskirts of the city. It has not frozen the location yet. They have seen a few locations," the person, quoted by ET, added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search Ads Search Now Undo "Wistron is into manufacturing servers, routers and switches. Manufacturing of those may go to Telangana. But it will be the non-iPhone making that will go to the state; iPhone assembly is ruled out," another person said. Responding to ET, Wistron declined to comment on the Telangana plans but reiterated its 2024 announcement regarding its subsidiary, ICT Service Management Solutions (India), seeking land use rights from Karnataka Industrial Area Development Board for up to Rs 140 crore near Bangalore's international airport. In March last year, the Karnataka State High Level Clearance Committee approved ICT Service Management's Rs 1,450 crore investment proposal, potentially creating 2,500 jobs. When signing the memorandum of understanding in January last year, minister Patil mentioned ICT Service Management's request for 32 acres. The automated facility would manufacture laptops for various brands, with over 50% intended for export, according to Patil. The unit would also produce IoT components and EV-related parts. Wistron operates in India through three subsidiaries: ICT Service Management, Smartiply India and Wistron Automotive Electronics (India). ICT Service Management handles import-export services and maintenance, Smartiply India develops internet platforms and IoT products, whilst Wistron Automotive Electronics focuses on automotive electronics manufacturing and R&D. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Business Insider
2 days ago
- Business
- Business Insider
Top Analysts Expect Apple to Report In-Line Q3 Revenue, Say ‘Sentiment Is Negative' on AAPL Stock
iPhone maker Apple (AAPL) is scheduled to announce its results for the third quarter of Fiscal 2025 (June quarter) on July 31. Ahead of the results, Krish Sankar, a top analyst from TD Cowen, reiterated a Buy rating on Apple stock with a price target of $275. Sankar expects Apple to report its June quarter revenue in line with Wall Street's expectation of a 4% year-over-year growth. The analyst stated that the sentiment on AAPL stock remains 'relatively negative,' given its insufficient artificial intelligence (AI) offerings, sensitivity to tariffs, and an unfavorable regulatory backdrop. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Sankar contends that Apple's 'incomplete' AI strategy remains the biggest overhang on its stock. He believes that the company still has about 1.5 years to provide a compelling solution. Sankar's sentiment is also echoed by another top analyst from Bank of America. Top Analysts Weigh in on Apple's Q3 Expectations Sankar said that his Q3 FY25 sell-in estimate for iPhone sales is 43 million units. He thinks that year-over-year declines in China were a moderate headwind in the second quarter of the calendar year, but the September quarter could see easier comparisons. Further, he expects non-iPhone revenue to decline by a low single-digit percentage year-over-year in the June quarter. Meanwhile, Sankar expects Services revenue to increase by 11%. Despite a subdued macro environment, the 5-star analyst expects AAPL to report June quarter results in line with the Street's estimates. He expects the company to issue September revenue growth guidance of low single-digit percentage on approximately flat year-over-year iPhone units. Another 5-star analyst, Wamsi Mohan from Bank of America, also believes that there is a 'tough setup' heading into Apple's fiscal third-quarter results due to tariff-led margin pressures and ongoing regulatory concerns. Mohan highlighted that client sentiment is 'fairly negative,' due to tariff uncertainty, the U.S. Department of Justice's (DOJ) investigation into Google's (GOOGL) payments (Traffic Acquisition Cost or TAC) to Apple, App Store headwinds, and slow progress in AI. Mohan expects Apple to report in-line Q3 FY25 results, with the possibility for a slight revenue beat. He expects Q3 EPS and revenue estimates of $1.45 and $90.2 billion, respectively, compared to the Street's estimates of $1.43 and $89.3 billion. On the positive side, the analyst is upbeat about Apple's upcoming product cycles and expects iPhone, Mac, and iPad sales to gain from the launch of new models, including a slim iPhone priced at $100 above last year's Plus version and a new iPad Pro with an M5 chip expected this fall. Mohan reiterated a Buy rating on AAPL stock with a price target of $235. Is AAPL Stock a Buy, Sell, or Hold? Overall, Wall Street has a Moderate Buy consensus rating on Apple stock based on 13 Buys, 11 Holds, and one Sell recommendation. The average AAPL stock price target of $229.11 indicates 7.1% upside potential from current levels. AAPL stock is down about 15% year-to-date.
Time of India
3 days ago
- Business
- Time of India
Wistron is eyeing Rs 1,000 crore IT hardware plant in Telangana
Academy Empower your mind, elevate your skills Wistron, the Taiwanese contract manufacturer that sold its iPhone assembly plant in Karnataka's Kolar to Tata Electronics in 2023, is firming up plans for an electronics production facility in Telangana with an investment of around Rs 1,000 crore, people aware of the matter is scouting for land in Hyderabad to build the facility that will manufacture servers, routers and switches, these people said on the condition of exiting the Kolar plant, where it had faced worker unrest in 2020, Wistron is again expanding its operations in India. The plans also include setting up a Rs 1,450 crore plant in Bengaluru to manufacture laptops. This facility is scheduled to start production by January 2026, Karnataka industries minister MB Patil said last year."They (Wistron) have decided to come to Telangana with a different product line. They are investing almost Rs 1,000 crore. Now they are finalising the location,' said one of the people. 'It could be in the same area where Hyderabad's electronics manufacturing is concentrated, in one of the electronics parks on the outskirts of the city. It has not frozen the location yet. They have seen a few locations," this person said."Wistron is into manufacturing servers, routers and switches. Manufacturing of those may go to Telangana. But it will be the non-iPhone making that will go to the state; iPhone assembly is ruled out," another person did not comment on the Telangana plan. In a statement to ET, the company repeated the announcement in 2024 when it said a wholly owned subsidiary, ICT Service Management Solutions (India), intended to secure a land use right from the Karnataka Industrial Area Development Board for up to Rs 140 crore. That land is near the international airport in Bangalore, it said in the latest Karnataka State High Level Clearance Committee had in March last year approved ICT Service Management's Rs 1,450 crore investment proposal with a potential to create 2,500 jobs. In January last year, when the company and the state government signed a memorandum of understanding, minister Patil said that ICT Service Management had sought 32 acres for the proposed proposed unit with a fully automated facility would make laptops for all brands and over 50% of laptops made here would be exported, Patil had said. The plant would also produce IoT components and EV-related currently operates in India through three subsidiaries: ICT Service Management, Smartiply India and Wistron Automotive Electronics (India). While ICT Service Management focuses on import-export services and maintenance operations, Smartiply India develops internet platforms and IoT-related products. Wistron Automotive Electronics specialises in manufacturing, R&D and design of automotive electronics and related products.
