Business Headlines | 3 years ago

Apple Inc. (NASDAQ:AAPL) Prepares To Set Manufacturing Plant In India

Apple Inc. (NASDAQ:AAPL) one of the top Nasdaq stocks has been experiencing a lower than average trade volume, despite having recorded successive gains, throughout the past week. It is possible that the hyper created by AAPL’s growing focus towards India, has started to die down. The company’s CEO, Tim Cook, has continued to market India as the next big market for year, owing to a rapidly developing infrastructure and large population base, but sales figures suggest otherwise.

However, with reports of Apple starting to manufacture iPhone SE in India, it seems that AAPL might just maintain its position among the best Nasdaq stocks. While creating a market for its moderately priced smartphones in India, the company is also being presented with the opportunity to diversify its manufacturing operations. This would prove to be crucial, if the ongoing trade tensions between the U.S. and China accelerate. The iPhone SE is being sold in the U.S. at a starting price of $399.

Reports have also suggested that AAPL has already engaged Wistron, a Taiwanese based manufacturer, to setup a plant in India. If this is true, it would mean that the company is unwilling to wait for the tax concessions it has requested from the government. However, the iPhone SE is expected to be just one of the many goods Apple is planning to manufacture in India. This assumption is based on the fact that locally produced goods in the country are not subject to taxes, worth 10%-12%, like that on imported electronics.

In addition to this, news leaks about the upcoming iPhone 8 have suggested that the company is going to remove the TouchID fingerprint recognition. The feature is said to have been replaced by a 3D laser scanner for facial recognition, instead. The move comes amid a rapid growth in mobile payment solutions and a need for better recognition technologies.

Apple Inc. (NASDAQ:AAPL) had a trade volume of 22.2 million, during the February 17 trading session, to close at $135.72 per share.

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