MUMBAI: Apple Inc. will in the coming months start assembling its lower-priced iPhone SE models at a contract manufacturer’s plant in the southern Indian technology hub of Bengaluru, an industry source with direct knowledge of the matter said on Friday.
Apple’s Taiwanese manufacturing partner Wistron Corp. is setting up a plant in Bengaluru to focus solely on assembling iPhones, a separate source told Reuters earlier this month.
Apple’s move comes as it seeks to boost its share in the world’s fastest growing major mobile market, where handsets far cheaper than Apple’s iPhones dominate. It also comes as smartphone sales growth is slowing in Asia’s other massive market, China.
To lower prices, Apple has been seeking to set up local production and has been in talks with the Indian federal government regarding issues such as tax concessions.
The industry source told Reuters the initial manufacturing of the iPhone SE model was not contingent on those concessions.
Apple did not immediately respond to a request for comment.
The Economic Times newspaper earlier on Friday reported Apple planned to initially assemble 300,000 to 400,000 iPhone SE handsets in India. The industry source told Reuters the numbers would be substantially lower to begin with.
The source also said it was too early to say what other phone models Apple would assemble at the Bengaluru plant.
Apple shipped 2.5 million iPhones to India last year, with a third coming in the December quarter, according to market researcher Counterpoint, which estimates that three-quarters of smartphones sold in India were made locally.
In the fourth quarter, Apple ranked 10th in India’s smartphone market but led the premium segment with a 62 percent market share, Counterpoint said.
Samsung Electronics Co. Ltd. and a host of Chinese players including Xiaomi and Vivo dominate India’s smartphone market where the vast majority of phones sold are priced below Rs15,000 ($225).
In comparison, the entry-level iPhone SE model sells on Amazon.com’s India site for Rs28,433 ($424).
Apple to start India operations with iPhone SE
Apple to start India operations with iPhone SE
Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador
RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.
Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.
He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.
La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh.
Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.
Launching La Fabrique as a space dedicated to artistic creativity
The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally.
He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.
Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.
Saudi Arabia benefiting from French experience in the cultural field
Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.
This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.
He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.
La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.
