“Apple Inc. Chief Executive Officer Tim Cook went to India last week to push his bestselling iPhones. The trip may not have paid off,” Siddhartha Singh and Saritha Rai report for Bloomberg. “India’s Foreign Investment Promotion Board ruled Apple must comply with regulations to procure 30 percent of components locally if it wants to sell through its own retail stores, according to people with direct knowledge of matter. The company makes most of its products in China and doesn’t currently meet that criteria.”
“While India can provide waivers for cutting-edge technology companies, the panel decided it can’t certify Apple for that exception, the people said, asking not to be identified as the decision isn’t public. The FIPB decision needs to be ratified by the government and it could still be overruled,” Singh and Rai report. “The FIPB decision needs to be ratified by Finance Minister Arun Jaitley, the people said.”
“Apple sells its products at a premium in India. More than 80 percent of phones sold in the country cost less than $150 while the cheapest new iPhone from Apple is the 4-inch iPhone SE at 39,000 rupees ($577),” Singh and Rai report. “The company’s push to bring in and sell lower-priced refurbished iPhones was rejected after competitors objected, a telecommunications ministry official said earlier this month.”
Read more in the full article here.
MacDailyNews Take: The Indian people should realize that their government isn’t helping them by blocking affordable Apple Certified Refurbished iPhones, it’s subjecting them to inferior, insecure, derivative fragamndroid crap.
India should approve Apple’s plan to sell Apple Certified refurbished iPhones in India. Not only would they be affordable to more consumers in India, Apple’s refurb’ed iPhones are easily better than competitors’ new phones! Why keep the Indian people shackled to inferior iPhone knockoffs when they could have the real thing?
As for the retail stores, that’ll be worked out eventually.
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