Apple Inc supplier and Japan Display Inc said on Thursday that Chinese investment firm Harvest Group would withdraw from a bailout of the cash-strapped smartphone screen maker, increasing the chance of the 80 billion yen ($743 million) deal collapsing.

The pullout of Harvest, which had offered to inject three-quarters of the bailout, threatens the survival of Japan Display, which has been hit by Apple's slowing iPhone sales and a late shift to organic light-emitting diode (OLED) screens.

But Minoru Kikuoka, Japan Display's chief financial officer, said at a press briefing there were no worries about an immediate cash crunch, thanks to loans extended by Japanese government-backed fund INCJ, its biggest shareholder.

Harvest decided to pull out due to disagreements with other members of the investor group over governance, Japan Display said. The Japanese company will look for new investors to replace the Chinese fund while keeping up talks with Harvest with the aim of receiving promised investment, it added.

Meanwhile, a major Japan Display client, which sources said is Apple, intends to double its planned investment to $200 million, if Japan Display could find other investors to replace Harvest by the end of this year partially, Japan Display said.

Apple Japan was not immediately available for comment.

Apple accounted for 60.6 per cent of Japan Display's revenue in the last financial year ended March. Japan Display still owes Apple nearly $900 million for the $1.5 billion cost of building a smartphone screen plant four years ago.

Hong Kong-based activist investor Oasis Management is still sticking with its plans to contribute $150-180 million. In addition, a major supplier and other private equity funds are showing interest in joining the deal, Kikuoka said.

The investment would give the investor group a 49.8 per cent&nbsp;stake in Japan Display, replacing Japanese government-backed fund INCJ as Japan Display's biggest shareholder.

Japan Display first agreed on the bailout deal with the Chinese group in April, but was forced to change the structure as some members dropped out after making checks on Japan Display’s financials.

Japan Display in August reported a tenth consecutive quarterly loss and logged a negative net worth, with liabilities exceeding assets by 77.2 billion yen.

Japan Display was formed in 2012 by combining the liquid-crystal display businesses of Hitachi Ltd Toshiba Corp and Sony Corp in a government-brokered deal.

Apple Inc supplier and Japan Display Inc said on Thursday that Chinese investment firm Harvest Group would withdraw from a bailout of the cash-strapped smartphone screen maker, increasing the chance of the 80 billion yen ($743 million) deal collapsing.

Apple Inc supplier and Japan Display Inc said on Thursday that Chinese investment firm Harvest Group would withdraw from a bailout of the cash-strapped smartphone screen maker, increasing the chance of the 80 billion yen ($743 million) deal collapsing. The pullout of Harvest, which had offered to inject three-quarters of the bailout, threatens the survival of Japan Display, which has been hit by Apple's slowing iPhone sales and a late shift to organic light-emitting diode (OLED) screens. But Minoru Kikuoka, Japan Display's chief financial officer, said at a press briefing there were no worries about an immediate cash crunch, thanks to loans extended by Japanese government-backed fund INCJ, its biggest shareholder. Harvest decided to pull out due to disagreements with other members of the investor group over governance, Japan Display said. The Japanese company will look for new investors to replace the Chinese fund while keeping up talks with Harvest with the aim of receiving promised investment, it added. Meanwhile, a major Japan Display client, which sources said is Apple, intends to double its planned investment to $200 million, if Japan Display could find other investors to replace Harvest by the end of this year partially, Japan Display said. Apple Japan was not immediately available for comment. Apple accounted for 60.6 per cent of Japan Display's revenue in the last financial year ended March. Japan Display still owes Apple nearly $900 million for the $1.5 billion cost of building a smartphone screen plant four years ago. Hong Kong-based activist investor Oasis Management is still sticking with its plans to contribute $150-180 million. In addition, a major supplier and other private equity funds are showing interest in joining the deal, Kikuoka said. The investment would give the investor group a 49.8 per cent stake in Japan Display, replacing Japanese government-backed fund INCJ as Japan Display's biggest shareholder. Japan Display first agreed on the bailout deal with the Chinese group in April, but was forced to change the structure as some members dropped out after making checks on Japan Display’s financials. Japan Display in August reported a tenth consecutive quarterly loss and logged a negative net worth, with liabilities exceeding assets by 77.2 billion yen. Japan Display was formed in 2012 by combining the liquid-crystal display businesses of Hitachi Ltd Toshiba Corp and Sony Corp in a government-brokered deal.

Apple supplier Japan Display loses out on Chinese funds, survival at risk

Apple's latest iPhone 11 range hit stores in China on Friday, with short queues of die-hard fans contrasting with the hundreds who camped out ahead of previous launches.

The sales performance of the US tech giant's latest line-up is being closely watched in the world's largest smartphone market, where Apple has been losing ground to competitors with cheaper and feature-packed handsets in recent years.

The queues at the Shanghai and Beijing stores added up to few dozen customers, were in sharp contrast to previous years, when hundreds used to wait for hours outside Apple's shops to be the first to grab its latest offerings.

But much of the fanfare in China has moved online where the pre-sales for iPhone 11, priced between $699 and $1,099, started last week.

Analysts said they had gotten off to a better start than the last cycle a year ago. Chinese e-commerce site JD.com said day one pre-sales for the iPhone 11 series were up 480% versus comparable sales for the iPhone XR last year.

Among the customers who went to a store in Beijing on Friday to make a purchase in person was a programmer who only gave his surname as Liu and said that he has owned a model from every Apple series since the 3G range.

He said he was particularly attracted to the more expensive iPhone 11 Pro, which has three cameras on the back. "When it comes to taking photos, it's better for night shots and the image is clearer", he told Reuters.

Other customers, however, said that they were concerned that the range was not enabled for fifth-generation networks, putting them behind 5G models already released by China's Huawei Technologies and smaller rival Vivo, and expressed hopes that Apple could make it happen for its next line-up.

Apple's latest iPhone 11 range hit stores in China on Friday, with short queues of die-hard fans contrasting with the hundreds who camped out ahead of previous launches.

Apple's latest iPhone 11 range hit stores in China on Friday, with short queues of die-hard fans contrasting with the hundreds who camped out ahead of previous launches. The sales performance of the US tech giant's latest line-up is being closely watched in the world's largest smartphone market, where Apple has been losing ground to competitors with cheaper and feature-packed handsets in recent years. The queues at the Shanghai and Beijing stores added up to few dozen customers, were in sharp contrast to previous years, when hundreds used to wait for hours outside Apple's shops to be the first to grab its latest offerings. But much of the fanfare in China has moved online where the pre-sales for iPhone 11, priced between $699 and $1,099, started last week. Analysts said they had gotten off to a better start than the last cycle a year ago. Chinese e-commerce site JD.com said day one pre-sales for the iPhone 11 series were up 480% versus comparable sales for the iPhone XR last year. Among the customers who went to a store in Beijing on Friday to make a purchase in person was a programmer who only gave his surname as Liu and said that he has owned a model from every Apple series since the 3G range. He said he was particularly attracted to the more expensive iPhone 11 Pro, which has three cameras on the back. "When it comes to taking photos, it's better for night shots and the image is clearer", he told Reuters. Other customers, however, said that they were concerned that the range was not enabled for fifth-generation networks, putting them behind 5G models already released by China's Huawei Technologies and smaller rival Vivo, and expressed hopes that Apple could make it happen for its next line-up.

No crowds as Apple's iPhone 11 hits stores in China

Apple went on the offensive against Brussels in an EU court on Tuesday, fighting the European Commission's landmark order that the iPhone-maker reimburse Ireland's $14 billion&nbsp;in back taxes.

The EU's tax demand, made three years ago, "defies reality and common sense," Apple's lawyer Daniel Beard told the EU's lower General Court.

The commission's "conclusion is wrong," he added at the start of two days of hearings.

Lawyers for the world's biggest company faced EU officials in the Luxembourg court, challenging a decision that CEO Tim Cook slammed at the time as "total political crap" with no basis in law.

Ireland, which is similarly appealing the decision, lashed out at the EU's "astonishing" interpretation of tax law.

"The Commission decision simply ignores Irish laws," Ireland's representative Maurice Collins told judges.

The commission's historic decision was delivered on August 2016 by Competition Commissioner Margrethe Vestager, a shock decision that put Europe at the forefront of an emerging effort to rein in the power of America's largest technological companies.

The EU accuses <a href="https://www.wionews.com/world/disney-ceo-bob-iger-resigns-from-apple-board-as-tv-battle-looms-249672">Apple</a> of parking untaxed revenue earned in Europe, Africa, the Middle East, and India in Ireland, which has become a European hub for US-based big tech.

This privilege allegedly gave Apple an advantage over other companies, allowing it to avoid Irish taxes between 2003 and 2014 of around 13 billion euros which, according to Brussels, constituted illegal "state aid" by Ireland.

An EU lawyer pushed back at Apple and Ireland's arguments, insisting that the iPhone-maker was on the hook to pay taxes in Ireland.

The judges are not expected to hand down their decision before 2020. Any appeal would then go the EU's highest court, the European Court of Justice, for a final ruling that could land as late as 2021.

'Rewrite history'

Apple fiercely rejects the tax bill, while the <a href="https://www.wionews.com/world/us-house-panel-demands-tech-company-emails-in-antitrust-investigation-249510">US </a>government insists the order by Brussels constitutes a major breach of international tax law.

"The European Commission has tried to rewrite Apple's history in Europe, to ignore Ireland's tax laws and, in doing so, to disrupt the international tax system," Tim Cook said in an open letter in 2016.

The group insists that it is in the United States, where the company invests in research and development and thus creates wealth, that it must pay taxes on the revenue in question.

This became possible after a major tax overhaul in the US at the end of 2017 that allowed Apple to repatriate profits made abroad. Apple has promised to pay Washington a tax bill of $37 billion, in addition to the taxes already paid in the United States.

That argument is "perfectly irrelevant", said the commission's lawyer.

"There is no tax mismatch here," said the lawyer.

The two days of hearings are taking place in a tense trade context between the EU and the United States. President Donald Trump accuses Europeans of deliberately attacking American technology giants.

The EU's competition supremo, Vestager, has in particular been accused by Trump of "hating" the US. He has slammed her as the "tax lady" because of the investigations and heavy fines imposed on US tech firms such as Google.

Pending the conclusion of the case, Apple has blocked the funds in an escrow account: a total of 14.3 billion euros after interest.

The group, which has been present in Ireland since the 1980s, employs around 6,000 people in Cork, the country's second-largest city.

The first indications of how the Apple case may finish will come as early as September 24 when the same EU court will rule on whether Vestager was right to demand unpaid taxes from Starbucks and a unit of Fiat Chrysler.

Apple went on the offensive against Brussels in an EU court on Tuesday, fighting the European Commission's landmark order that the iPhone-maker reimburse Ireland's $14 billion in back taxes.

Apple went on the offensive against Brussels in an EU court on Tuesday, fighting the European Commission's landmark order that the iPhone-maker reimburse Ireland's $14 billion in back taxes. The EU's tax demand, made three years ago, "defies reality and common sense," Apple's lawyer Daniel Beard told the EU's lower General Court. The commission's "conclusion is wrong," he added at the start of two days of hearings. Lawyers for the world's biggest company faced EU officials in the Luxembourg court, challenging a decision that CEO Tim Cook slammed at the time as "total political crap" with no basis in law. Ireland, which is similarly appealing the decision, lashed out at the EU's "astonishing" interpretation of tax law. "The Commission decision simply ignores Irish laws," Ireland's representative Maurice Collins told judges. The commission's historic decision was delivered on August 2016 by Competition Commissioner Margrethe Vestager, a shock decision that put Europe at the forefront of an emerging effort to rein in the power of America's largest technological companies. The EU accuses Apple of parking untaxed revenue earned in Europe, Africa, the Middle East, and India in Ireland, which has become a European hub for US-based big tech. This privilege allegedly gave Apple an advantage over other companies, allowing it to avoid Irish taxes between 2003 and 2014 of around 13 billion euros which, according to Brussels, constituted illegal "state aid" by Ireland. An EU lawyer pushed back at Apple and Ireland's arguments, insisting that the iPhone-maker was on the hook to pay taxes in Ireland. The judges are not expected to hand down their decision before 2020. Any appeal would then go the EU's highest court, the European Court of Justice, for a final ruling that could land as late as 2021. 'Rewrite history' Apple fiercely rejects the tax bill, while the US government insists the order by Brussels constitutes a major breach of international tax law. "The European Commission has tried to rewrite Apple's history in Europe, to ignore Ireland's tax laws and, in doing so, to disrupt the international tax system," Tim Cook said in an open letter in 2016. The group insists that it is in the United States, where the company invests in research and development and thus creates wealth, that it must pay taxes on the revenue in question. This became possible after a major tax overhaul in the US at the end of 2017 that allowed Apple to repatriate profits made abroad. Apple has promised to pay Washington a tax bill of $37 billion, in addition to the taxes already paid in the United States. That argument is "perfectly irrelevant", said the commission's lawyer. "There is no tax mismatch here," said the lawyer. The two days of hearings are taking place in a tense trade context between the EU and the United States. President Donald Trump accuses Europeans of deliberately attacking American technology giants. The EU's competition supremo, Vestager, has in particular been accused by Trump of "hating" the US. He has slammed her as the "tax lady" because of the investigations and heavy fines imposed on US tech firms such as Google. Pending the conclusion of the case, Apple has blocked the funds in an escrow account: a total of 14.3 billion euros after interest. The group, which has been present in Ireland since the 1980s, employs around 6,000 people in Cork, the country's second-largest city. The first indications of how the Apple case may finish will come as early as September 24 when the same EU court will rule on whether Vestager was right to demand unpaid taxes from Starbucks and a unit of Fiat Chrysler.

Apple slams European Union as court battle over tax bill begins

On Monday, the Supreme Court of the United States voted to allow a years-long antitrust case against Apple to move forward, despite Apple's objections.

Apple store in Brussels

Apple Inc said on Friday that Walt Disney Co-Chief Executive Officer Bob Iger had resigned from the company's board of directors on September 10 as the two companies prepare to compete head-to-head in the streaming television business.

Iger departed Apple's board the same day the company revealed new details about Apple TV+, a $4.99-per-month service that will launch on November 1.

&nbsp;Apple is spending billions in Hollywood to secure original programming for the service.

The monthly subscription price for Apple TV+ undercuts Disney, which earlier this year announced its own streaming service that will feature its iconic children's content and cost $6.99 per month. The Disney+ service will debut on November 12.

Apple and Disney have long had a unique relationship among major American companies, dating back to when Apple co-founder Steve Jobs became a Disney director and major shareholder when the entertainment giant bought Pixar, the digital animation studio majority-owned by Jobs. Iger became an Apple director shortly after Jobs' death in 2011.

"While we will greatly miss his contributions as a board member, we respect his decision and we have every expectation that our relationship with both Bob and Disney will continue far into the future," Apple said in a statement.

Iger said it was "an extraordinary privilege" to have served on Apple's board for eight years.

"I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members," Iger said in a statement. "Apple is one of the world's most admired companies, known for the quality and integrity of its products and its people."

Apple Inc said on Friday that Walt Disney Co-Chief Executive Officer Bob Iger had resigned from the company's board of directors on September 10 as the two companies prepare to compete head-to-head in the streaming television business.

Apple Inc said on Friday that Walt Disney Co-Chief Executive Officer Bob Iger had resigned from the company's board of directors on September 10 as the two companies prepare to compete head-to-head in the streaming television business. Iger departed Apple's board the same day the company revealed new details about Apple TV+, a $4.99-per-month service that will launch on November 1. Apple is spending billions in Hollywood to secure original programming for the service. The monthly subscription price for Apple TV+ undercuts Disney, which earlier this year announced its own streaming service that will feature its iconic children's content and cost $6.99 per month. The Disney+ service will debut on November 12. Apple and Disney have long had a unique relationship among major American companies, dating back to when Apple co-founder Steve Jobs became a Disney director and major shareholder when the entertainment giant bought Pixar, the digital animation studio majority-owned by Jobs. Iger became an Apple director shortly after Jobs' death in 2011. "While we will greatly miss his contributions as a board member, we respect his decision and we have every expectation that our relationship with both Bob and Disney will continue far into the future," Apple said in a statement. Iger said it was "an extraordinary privilege" to have served on Apple's board for eight years. "I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members," Iger said in a statement. "Apple is one of the world's most admired companies, known for the quality and integrity of its products and its people."

Disney CEO Bob Iger resigns from Apple board as TV battle looms

A US House of Representatives panel on Friday demanded internal emails, detailed financial information and other company records from Amazon.com Inc., Facebook Inc, Apple Inc, and Alphabet Inc's Google as its antitrust probe of Big Tech widens.

The committees' letters seek by October 14 internal emails over the last decade from Apple CEO Tim Cook, Amazon CEO Jeff Bezos, <a href="https://www.wionews.com/world/facebooks-libra-has-to-build-anti-money-laundering-anti-terror-financing-design-us-treasury-248861">Facebook CEO Mark Zuckerberg</a> and Alphabet CEO Larry Page, among others, about acquisitions.

Apple shares fell about 1.8% after the market opened. While Apple had been mentioned as a potential target, the House letter offered the first concrete evidence of a wide-ranging antitrust investigation of the company.

Apple has faced criticism that its policies and algorithms in its App Store support its own products and stifle third-party applications.

The letters come days after the Texas attorney general led a group of 50 attorneys general from US states and territories in a probe of whether Google abuses its market power in advertising.

Apple and Facebook did not immediately respond to a request for comment, while Amazon did not immediately comment. Google referred to a blog post issued this week that said its services "create choice for consumers."

The committee requested information from the companies' executives on market share, competitors, their largest customers for specific products and documents from other investigations.

It asked Apple for information on the company's decision to remove some parental control apps from its App Store and its policy regarding whether iPhone users can set non-Apple apps as defaults, among other concerns about its App Store.

The US Justice Department said in July it is investigating "whether and how" large tech companies in "search, social media, and some retail services online" are engaging in anticompetitive behaviour, an apparent reference to the same companies named by the House panel on Friday.

A US House of Representatives panel on Friday demanded internal emails, detailed financial information and other company records from Amazon.com Inc., Facebook Inc, Apple Inc, and Alphabet Inc's Google as its antitrust probe of Big Tech widens.

A US House of Representatives panel on Friday demanded internal emails, detailed financial information and other company records from Amazon.com Inc., Facebook Inc, Apple Inc, and Alphabet Inc's Google as its antitrust probe of Big Tech widens. The committees' letters seek by October 14 internal emails over the last decade from Apple CEO Tim Cook, Amazon CEO Jeff Bezos, Facebook CEO Mark Zuckerberg and Alphabet CEO Larry Page, among others, about acquisitions. Apple shares fell about 1.8% after the market opened. While Apple had been mentioned as a potential target, the House letter offered the first concrete evidence of a wide-ranging antitrust investigation of the company. Apple has faced criticism that its policies and algorithms in its App Store support its own products and stifle third-party applications. The letters come days after the Texas attorney general led a group of 50 attorneys general from US states and territories in a probe of whether Google abuses its market power in advertising. Apple and Facebook did not immediately respond to a request for comment, while Amazon did not immediately comment. Google referred to a blog post issued this week that said its services "create choice for consumers." The committee requested information from the companies' executives on market share, competitors, their largest customers for specific products and documents from other investigations. It asked Apple for information on the company's decision to remove some parental control apps from its App Store and its policy regarding whether iPhone users can set non-Apple apps as defaults, among other concerns about its App Store. The US Justice Department said in July it is investigating "whether and how" large tech companies in "search, social media, and some retail services online" are engaging in anticompetitive behaviour, an apparent reference to the same companies named by the House panel on Friday.

US House panel demands tech company emails in antitrust investigation

Apple sent out invitations on Thursday to a September 10 event at its Silicon Valley campus where it is expected to unveil a new-generation iPhone.

In its trademark, tight-lipped style, Apple disclosed little about what it plans to spotlight in the Steve Jobs Theater at its headquarters in the city of Cupertino.

For years now, Apple has hosted events in the fall to launch new iPhone models ahead of the Christmas holiday shopping season.

Introduction of "iPhone 11" handsets would come as the global smartphone market tightens and Apple makes a priority of selling digital content and services to fans of its hardware.

New iPhones are expected to boast improvements including ramped-up processing power and camera capabilities, but no radical changes or offerings for super-speedy 5G telecom networks that are starting to take shape.

Apple last month delivered stronger than expected results in the just-ended quarter as growth from services helped offset weak iPhone sales.

Chief executive Tim Cook said the company had its "biggest June quarter ever -- driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and significant improvement in iPhone trends."

Long the driver of Apple's money-making machine, iPhone revenue overall was down 12 per cent from last year to $26 billion.

The premium smartphone market has grown fiercely competitive and overall sales have cooled as a lack of stunning innovation has caused people to wait longer before upgrading to new models.

Rivals in the premium smartphone market also field champions to fight for market share during the prime shopping season.

Google typically holds a Fall event to launch new Pixel smartphones powered by its Android software.

Samsung recently introduced a new-generation Galaxy Note large-screen handset starting at $950 and said it will work closer with Microsoft so that services function better across its array of devices.

Apple lost more ground in the shrinking smartphone market last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival.

Apple fell to fourth place in global smartphone sales, shipping 35.3 million iPhones in the second quarter compared to the 36.2 million units shipped by Oppo, according to a report from IHS Markit this week.

South Korean consumer electronics titan Samsung remained in first place with 23 per cent of the market, having shipped 75.1 million smartphones, China's Huawei shipped 58.7 million smartphones to claim 18 per cent of the market, IHS Markit calculated.

Other smartphone market trackers such as Counterpoint Research and International Data Corporation concluded that while iPhone shipments sank in the second quarter, Apple remained in third place what it came to global shipments.

Apple sent out invitations on Thursday to a September 10 event at its Silicon Valley campus where it is expected to unveil a new-generation iPhone. In its trademark, tight-lipped style, Apple disclosed little about what it plans to spotlight in the Steve Jobs Theater at its headquarters in the city of Cupertino.

Apple sent out invitations on Thursday to a September 10 event at its Silicon Valley campus where it is expected to unveil a new-generation iPhone. In its trademark, tight-lipped style, Apple disclosed little about what it plans to spotlight in the Steve Jobs Theater at its headquarters in the city of Cupertino. For years now, Apple has hosted events in the fall to launch new iPhone models ahead of the Christmas holiday shopping season. Introduction of "iPhone 11" handsets would come as the global smartphone market tightens and Apple makes a priority of selling digital content and services to fans of its hardware. New iPhones are expected to boast improvements including ramped-up processing power and camera capabilities, but no radical changes or offerings for super-speedy 5G telecom networks that are starting to take shape. Apple last month delivered stronger than expected results in the just-ended quarter as growth from services helped offset weak iPhone sales. Chief executive Tim Cook said the company had its "biggest June quarter ever -- driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and significant improvement in iPhone trends." Long the driver of Apple's money-making machine, iPhone revenue overall was down 12 per cent from last year to $26 billion. The premium smartphone market has grown fiercely competitive and overall sales have cooled as a lack of stunning innovation has caused people to wait longer before upgrading to new models. Rivals in the premium smartphone market also field champions to fight for market share during the prime shopping season. Google typically holds a Fall event to launch new Pixel smartphones powered by its Android software. Samsung recently introduced a new-generation Galaxy Note large-screen handset starting at $950 and said it will work closer with Microsoft so that services function better across its array of devices. Apple lost more ground in the shrinking smartphone market last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival. Apple fell to fourth place in global smartphone sales, shipping 35.3 million iPhones in the second quarter compared to the 36.2 million units shipped by Oppo, according to a report from IHS Markit this week. South Korean consumer electronics titan Samsung remained in first place with 23 per cent of the market, having shipped 75.1 million smartphones, China's Huawei shipped 58.7 million smartphones to claim 18 per cent of the market, IHS Markit calculated. Other smartphone market trackers such as Counterpoint Research and International Data Corporation concluded that while iPhone shipments sank in the second quarter, Apple remained in third place what it came to global shipments.

Apple expected to unveil new iPhone at September 10 event

India&nbsp;is targeting companies including <a href="https://www.wionews.com/world/apples-data-shows-a-deepening-dependence-on-china-as-trumps-tariffs-loom-246416">Apple</a>, Foxconn and Wistron Corp with a charm offensive aimed at encouraging them to shift business out of trade war-hit China, according to a source and a document seen by Reuters.

Several&nbsp;Indian officials met on August&nbsp;14 and discussed a list of "target companies" that also include Taiwan-headquartered contract manufacturer Pegatron Corp, a source with direct knowledge said.

The dispute between the United States and China, the world's two largest economies, has led to higher tariffs on goods worth billions of dollars and disrupted global supply chains, prompting companies to look at other investment avenues to escape higher tariffs.

Amid suggestions that&nbsp;India&nbsp;is late to capitalise on the trade war, government ministries have been asked to submit their policies and incentive structures to Invest&nbsp;India, the country's foreign investment promotion agency. Nine sectors including electronics, autos pharmaceuticals and telecoms will be targeted.

The document said the government will meet companies between August&nbsp;26 and September&nbsp;5 to suggest the best investment zones for their operations. State governments will also participate.

A "complete package" detailing market factors and&nbsp;Indian incentives on offer will then be readied for presenting to potential investors, according to the government record of the August&nbsp;14 meeting seen by Reuters.

Apple, Wistron, Pegatron and Foxconn did not respond to a request for comment.

It is not clear whether the government will dole out new incentives or just detail existing ones, but the document shows&nbsp;India&nbsp;wants to explore opportunities and move swiftly, even as some fear it has missed the bus.

As companies think about rebuilding supply chains outside of China, a major global manufacturing hub, nations such as Vietnam have emerged as top destinations given the faster clearances and stable policies they offer, industry experts say.

Alphabet Inc's Google is shifting its Pixel smartphone production to Vietnam from China starting this year, the Nikkei business daily reported on Wednesday.

"There is one other monster country that has a huge domestic market,&nbsp;India, but they have got to get moving," said Richard Rossow, a US-India&nbsp;specialist at the Center for Strategic and International Studies in Washington.

"There is no time to waste in catching that new wave and in fact the question is: Have they already missed it?"

Benefitting from tariffs war

The Sino-US trade war has also rattled global automotive supply chains and affected big automakers.

Indian officials this week separately met local delegates of automakers including Volkswagen, Hyundai Motor Co and Honda Motor Co to see if they would consider moving some supply chain operations from China to&nbsp;India, according to the source and an industry official who attended the meeting.

"The government is looking at it as a great opportunity," said the industry official.

Honda declined to comment, while Volkswagen and Hyundai did not respond to Reuters' request.

The protracted trade dispute has also jolted Apple, which faces levies of 15% imposed by the US administration on major products made in China such as smartwatches on September&nbsp;1, with a tariff on its iPhone to take effect on December&nbsp;15.

India&nbsp;is the world's second-biggest smartphone market with huge room for growth. But while the likes of Foxconn, which assembles Apple phones in&nbsp;India, have deepened their&nbsp;India&nbsp;presence, executives say nations such as China offer a more skilled workforce and a better-organised components ecosystem.

A senior smartphone industry executive in&nbsp;India&nbsp;said future corporate investment decisions would rely mostly on whether a country can offer policy stability and faster clearances.

"Vietnam at the end of the day is a small country and the potential of growing to super-scale, multi-tier supply chain capability is not possible," said the executive.

The&nbsp;Indian government will also share a list of foreign companies with its consulates which will be tasked to fix meetings with the firms at their headquarters.

"This exercise to start first with Chinese companies based in China and to be completed before 15th of September 2019, including one-on-one meetings," the document said.

India is targeting companies including Apple, Foxconn and Wistron Corp with a charm offensive aimed at encouraging them to shift business out of trade war-hit China, according to a source and a document seen by Reuters.

India is targeting companies including Apple, Foxconn and Wistron Corp with a charm offensive aimed at encouraging them to shift business out of trade war-hit China, according to a source and a document seen by Reuters. Several Indian officials met on August 14 and discussed a list of "target companies" that also include Taiwan-headquartered contract manufacturer Pegatron Corp, a source with direct knowledge said. The dispute between the United States and China, the world's two largest economies, has led to higher tariffs on goods worth billions of dollars and disrupted global supply chains, prompting companies to look at other investment avenues to escape higher tariffs. Amid suggestions that India is late to capitalise on the trade war, government ministries have been asked to submit their policies and incentive structures to Invest India, the country's foreign investment promotion agency. Nine sectors including electronics, autos pharmaceuticals and telecoms will be targeted. The document said the government will meet companies between August 26 and September 5 to suggest the best investment zones for their operations. State governments will also participate. A "complete package" detailing market factors and Indian incentives on offer will then be readied for presenting to potential investors, according to the government record of the August 14 meeting seen by Reuters. Apple, Wistron, Pegatron and Foxconn did not respond to a request for comment. It is not clear whether the government will dole out new incentives or just detail existing ones, but the document shows India wants to explore opportunities and move swiftly, even as some fear it has missed the bus. As companies think about rebuilding supply chains outside of China, a major global manufacturing hub, nations such as Vietnam have emerged as top destinations given the faster clearances and stable policies they offer, industry experts say. Alphabet Inc's Google is shifting its Pixel smartphone production to Vietnam from China starting this year, the Nikkei business daily reported on Wednesday. "There is one other monster country that has a huge domestic market, India, but they have got to get moving," said Richard Rossow, a US-India specialist at the Center for Strategic and International Studies in Washington. "There is no time to waste in catching that new wave and in fact the question is: Have they already missed it?" Benefitting from tariffs war The Sino-US trade war has also rattled global automotive supply chains and affected big automakers. Indian officials this week separately met local delegates of automakers including Volkswagen, Hyundai Motor Co and Honda Motor Co to see if they would consider moving some supply chain operations from China to India, according to the source and an industry official who attended the meeting. "The government is looking at it as a great opportunity," said the industry official. Honda declined to comment, while Volkswagen and Hyundai did not respond to Reuters' request. The protracted trade dispute has also jolted Apple, which faces levies of 15% imposed by the US administration on major products made in China such as smartwatches on September 1, with a tariff on its iPhone to take effect on December 15. India is the world's second-biggest smartphone market with huge room for growth. But while the likes of Foxconn, which assembles Apple phones in India, have deepened their India presence, executives say nations such as China offer a more skilled workforce and a better-organised components ecosystem. A senior smartphone industry executive in India said future corporate investment decisions would rely mostly on whether a country can offer policy stability and faster clearances. "Vietnam at the end of the day is a small country and the potential of growing to super-scale, multi-tier supply chain capability is not possible," said the executive. The Indian government will also share a list of foreign companies with its consulates which will be tasked to fix meetings with the firms at their headquarters. "This exercise to start first with Chinese companies based in China and to be completed before 15th of September 2019, including one-on-one meetings," the document said.

India to woo foreign firms like Apple to capitalise on US-China trade war

Tapping factories in Brazil and India has not lessened<a href="https://www.wionews.com/business-economy/apple-debuts-credit-card-as-it-readies-tv-launch-244559"> Apple</a> Inc's dependence on China, the company's supply chain data shows, raising the stakes for the iPhone maker as US President Donald Trump wages a trade war and promises more tariffs.

Apple faces levies of 15% imposed by Trump's administration on major products made in China such as smartwatches and wireless headphones on Sept. 1, with a tariff on its biggest seller, the iPhone, to take effect on December&nbsp;15.

Few American firms are as tightly bound to Asia's largest economy as Apple. Contract factories owned by Hon Hai Precision Industry Co Ltd's Foxconn, Pegatron Corp, Wistron Corp and others employ hundreds of thousands of workers to assemble Apple devices.

In recent years, Apple's contract manufacturers have expanded into other countries. India, for example, had no Apple contract manufacturer locations in 2015 but expanded to three assembly facilities by 2019, including a factory owned by Foxconn, which plans to make models from the iPhone X family of devices, Reuters reported last year.

Apple taps the India operations to avoid steep import duties on iPhones in one of the last fast-growing mobile phone markets on the planet, similar to Apple and Foxconn's move to open a production facility in Brazil in 2011.

But the factories outside China are smaller and, in the case of India and Brazil, Apple only uses them to meet domestic demand. Apple's contract factories inside China, meanwhile, have added far more locations than outside, with Foxconn alone expanding from 19 locations in 2015 to 29 in 2019 and Pegatron going from eight to 12, according to Apple's data. The new locations come as Apple has added watches, smart speakers and wireless headphones to its product lineup.

And beyond the contract factories, the rest of Apple's suppliers - the companies that sell it chips, glass, aluminium casings, cables, circuit boards and much more - became more concentrated in China. Among all supplier locations, 44.9% were in China in 2015, a proportion that rose to 47.6% by 2019, the data showed.

Reuters analysed five years' worth of supply chain data published by Apple. The data includes more than 750 locations each year between 2015 and 2019 for the California company's top 200 suppliers based on Apple's spending. Apple does not disclose how much it spends with each, and the companies on the list can change as different suppliers make the top-200 cutoff among Apple's thousands of suppliers.

Reuters sorted the data and calculated the overall portion of Apple's supply chain in China. In a few cases each year, Apple did not provide a specific address and Reuters excluded that location.

Apple declined to comment on Reuters' analysis. In July, Chief Executive Tim Cook told investors on the company's quarterly earnings call that he "wouldn't put a lot of stock into" speculation about how the company would shift production because of US tariffs.

"The vast majority of our products are kind of made everywhere," Cook said on the call. "There is a significant level of content in the United States, and a lot from Japan to Korea to China, and the European Union also contributes a fair amount. ... I think that will carry the day in the future as well."

No place like China

Apple faces hurdles in diversifying beyond China, where the clustering of multiple suppliers allows it to make hundreds of millions of devices per year while holding only a few days' worth of inventory, which is critical to the free cash flow Apple investors prize.

Other phone makers ship far fewer units and have more flexibility. Alphabet Inc’s Google is shifting its Pixel smartphone production to Vietnam from China starting this year as it builds a cheap supply chain in Southeast Asia, the Nikkei business daily reported on Wednesday.

But Apple's scale works against it because few other nations have workforces as large as China. Factories require highly skilled engineers to design and troubleshoot custom tools and processes. Vietnam, where Apple has manufactured accessories for years, has a population less than one-tenth the size of China.

Even if Apple can make devices in India or Vietnam, the volumes would be small compared with Apple's overall needs.

Outside of China, "there few places in the world that have the infrastructure to produce 600,000 phones a day," said Dave Evans, chief executive of San Francisco supply chain firm Fictiv.

Apple has so far been spared tariffs on major products, winning a reprieve last year on many wireless devices. And Cook has cultivated a close relationship with Trump over dinners and private meetings at the White House.

Apple has told trade officials that it generally believes tariffs will result in higher prices for US&nbsp;consumers but has not said whether it plans to pass tariffs onto customers by raising prices.

For electronics products, where the circuit board is made can sometimes determine the product's country of origin, said George R. Tuttle III, a customs attorney who has worked with electronics firms.

That leaves open the possibility that device makers could make circuit boards or other key components outside China while still assembling devices there to avoid tariffs.

Apple has disclosed no such plans. But the India unit of Foxconn, which also performs work for HMD Global's Nokia-branded phones and Xiaomi Corp in addition to Apple, has developed the ability to make circuit boards in India, two industry sources told Reuters last year.

Tapping factories in Brazil and India has not lessened Apple Inc's dependence on China, the company's supply chain data shows, raising the stakes for the iPhone maker as US President Donald Trump wages a trade war and promises more tariffs.

Tapping factories in Brazil and India has not lessened Apple Inc's dependence on China, the company's supply chain data shows, raising the stakes for the iPhone maker as US President Donald Trump wages a trade war and promises more tariffs. Apple faces levies of 15% imposed by Trump's administration on major products made in China such as smartwatches and wireless headphones on Sept. 1, with a tariff on its biggest seller, the iPhone, to take effect on December 15. Few American firms are as tightly bound to Asia's largest economy as Apple. Contract factories owned by Hon Hai Precision Industry Co Ltd's Foxconn, Pegatron Corp, Wistron Corp and others employ hundreds of thousands of workers to assemble Apple devices. In recent years, Apple's contract manufacturers have expanded into other countries. India, for example, had no Apple contract manufacturer locations in 2015 but expanded to three assembly facilities by 2019, including a factory owned by Foxconn, which plans to make models from the iPhone X family of devices, Reuters reported last year. Apple taps the India operations to avoid steep import duties on iPhones in one of the last fast-growing mobile phone markets on the planet, similar to Apple and Foxconn's move to open a production facility in Brazil in 2011. But the factories outside China are smaller and, in the case of India and Brazil, Apple only uses them to meet domestic demand. Apple's contract factories inside China, meanwhile, have added far more locations than outside, with Foxconn alone expanding from 19 locations in 2015 to 29 in 2019 and Pegatron going from eight to 12, according to Apple's data. The new locations come as Apple has added watches, smart speakers and wireless headphones to its product lineup. And beyond the contract factories, the rest of Apple's suppliers - the companies that sell it chips, glass, aluminium casings, cables, circuit boards and much more - became more concentrated in China. Among all supplier locations, 44.9% were in China in 2015, a proportion that rose to 47.6% by 2019, the data showed. Reuters analysed five years' worth of supply chain data published by Apple. The data includes more than 750 locations each year between 2015 and 2019 for the California company's top 200 suppliers based on Apple's spending. Apple does not disclose how much it spends with each, and the companies on the list can change as different suppliers make the top-200 cutoff among Apple's thousands of suppliers. Reuters sorted the data and calculated the overall portion of Apple's supply chain in China. In a few cases each year, Apple did not provide a specific address and Reuters excluded that location. Apple declined to comment on Reuters' analysis. In July, Chief Executive Tim Cook told investors on the company's quarterly earnings call that he "wouldn't put a lot of stock into" speculation about how the company would shift production because of US tariffs. "The vast majority of our products are kind of made everywhere," Cook said on the call. "There is a significant level of content in the United States, and a lot from Japan to Korea to China, and the European Union also contributes a fair amount. ... I think that will carry the day in the future as well." No place like China Apple faces hurdles in diversifying beyond China, where the clustering of multiple suppliers allows it to make hundreds of millions of devices per year while holding only a few days' worth of inventory, which is critical to the free cash flow Apple investors prize. Other phone makers ship far fewer units and have more flexibility. Alphabet Inc’s Google is shifting its Pixel smartphone production to Vietnam from China starting this year as it builds a cheap supply chain in Southeast Asia, the Nikkei business daily reported on Wednesday. But Apple's scale works against it because few other nations have workforces as large as China. Factories require highly skilled engineers to design and troubleshoot custom tools and processes. Vietnam, where Apple has manufactured accessories for years, has a population less than one-tenth the size of China. Even if Apple can make devices in India or Vietnam, the volumes would be small compared with Apple's overall needs. Outside of China, "there few places in the world that have the infrastructure to produce 600,000 phones a day," said Dave Evans, chief executive of San Francisco supply chain firm Fictiv. Apple has so far been spared tariffs on major products, winning a reprieve last year on many wireless devices. And Cook has cultivated a close relationship with Trump over dinners and private meetings at the White House. Apple has told trade officials that it generally believes tariffs will result in higher prices for US consumers but has not said whether it plans to pass tariffs onto customers by raising prices. For electronics products, where the circuit board is made can sometimes determine the product's country of origin, said George R. Tuttle III, a customs attorney who has worked with electronics firms. That leaves open the possibility that device makers could make circuit boards or other key components outside China while still assembling devices there to avoid tariffs. Apple has disclosed no such plans. But the India unit of Foxconn, which also performs work for HMD Global's Nokia-branded phones and Xiaomi Corp in addition to Apple, has developed the ability to make circuit boards in India, two industry sources told Reuters last year.

Apple's data shows a deepening dependence on China as Trump's tariffs loom

The Directorate General of Civil Aviation (DGCA) on Monday asked passengers to not to fly with older generation 15-inch MacBook Pro units which have been recalled by Apple, as they may pose a safety risk.

"After the recall of a number of older generation 15-inch Apple MacBook Pro laptops due to fears that their batteries may overheat and pose a safety risk, DGCA requests passengers not to fly with affected models either as hand-baggage or checked-in baggage until the battery has been certified as safe or replaced by the manufacturer," the statement by DGCA read.

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<a href="https://t.co/b5OEcAQZ46">pic.twitter.com/b5OEcAQZ46</a>
— DGCA (@DGCAIndia) <a href="https://twitter.com/DGCAIndia/status/1165933389179801600?ref_src=twsrc%5Etfw">August 26, 2019</a></blockquote>
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Earlier on June 20, Apple had announced a voluntary recall of the older generation 15-inch MacBook Pro units which contained a battery that may overheat and pose a fire safety risk.

The Federal Aviation Administration (FAA) which has the power to regulate all civil aviation matters in the United States of America had banned all passengers from carrying the model on flights.

The Directorate General of Civil Aviation (DGCA) on Monday asked passengers to not to fly with older generation 15-inch MacBook Pro units which have been recalled by Apple, as they may pose a safety risk.

The Directorate General of Civil Aviation (DGCA) on Monday asked passengers to not to fly with older generation 15-inch MacBook Pro units which have been recalled by Apple, as they may pose a safety risk. "After the recall of a number of older generation 15-inch Apple MacBook Pro laptops due to fears that their batteries may overheat and pose a safety risk, DGCA requests passengers not to fly with affected models either as hand-baggage or checked-in baggage until the battery has been certified as safe or replaced by the manufacturer," the statement by DGCA read. pic.twitter.com/b5OEcAQZ46 — DGCA (@DGCAIndia) August 26, 2019 × Earlier on June 20, Apple had announced a voluntary recall of the older generation 15-inch MacBook Pro units which contained a battery that may overheat and pose a fire safety risk. The Federal Aviation Administration (FAA) which has the power to regulate all civil aviation matters in the United States of America had banned all passengers from carrying the model on flights.

Don't fly with Apple’s old MacBook Pro laptops: DGCA requests passengers

President Donald Trump said on Sunday that he had spoken with Apple Inc's Chief Executive Tim Cook about the impact of US tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics Co Ltd.

Trump said Cook "made a good case" that tariffs could hurt Apple, given that Samsung`s products would not be subject to those same tariffs.&nbsp;

Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on September 1 and December 15.

By contrast, the United States and South Korea struck a trade agreement last September.

"I thought he made a very compelling argument, so I`m thinking about it," Trump said of Cook, speaking with reporters at a New Jersey airport.

US stock futures rose upon opening on Sunday after Trump's comments.&nbsp;

In addition to his comments on Apple, Trump said on Twitter earlier in the day that his administration was "doing very well with China."

Apple's MacBook laptops and iPhones would not face the additional tariffs until December 15, but some of the company's other products, including its AirPods, Apple Watch and HomePod, would be subject to the levies on September 1.

Apple was not immediately available for comment outside normal business hours.

President Donald Trump said on Sunday that he had spoken with Apple Inc's Chief Executive Tim Cook about the impact of US tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics Co Ltd.

President Donald Trump said on Sunday that he had spoken with Apple Inc's Chief Executive Tim Cook about the impact of US tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics Co Ltd. Trump said Cook "made a good case" that tariffs could hurt Apple, given that Samsung`s products would not be subject to those same tariffs. Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on September 1 and December 15. By contrast, the United States and South Korea struck a trade agreement last September. "I thought he made a very compelling argument, so I`m thinking about it," Trump said of Cook, speaking with reporters at a New Jersey airport. US stock futures rose upon opening on Sunday after Trump's comments. In addition to his comments on Apple, Trump said on Twitter earlier in the day that his administration was "doing very well with China." Apple's MacBook laptops and iPhones would not face the additional tariffs until December 15, but some of the company's other products, including its AirPods, Apple Watch and HomePod, would be subject to the levies on September 1. Apple was not immediately available for comment outside normal business hours.

Apple CEO warns Trump about China tariffs, Samsung competition

<a href="https://www.wionews.com/south-asia/trump-gets-update-from-aides-on-afghan-peace-plan-with-troop-pullout-possible-243530">US President Donald Trump</a> said he was having dinner on Friday with Chief Executive Officer <a href="https://www.wionews.com/india-news/after-trump-goof-up-tim-cook-renames-his-twitter-handle-as-tim-apple-201972">Tim Cook of Apple</a>, a company the president has criticized for not manufacturing more of its products in the United States.

"Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the US Great!" Trump, who is on a working vacation at his golf club in Bedminster, New Jersey, said in a Twitter message.

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Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the U.S. Great!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1162500362810642437?ref_src=twsrc%5Etfw">August 16, 2019</a></blockquote>
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The White House did not immediately respond to a question about the agenda for the dinner and what Trump was referring to when he said Apple would be spending vast sums in the United States.

Apple did not immediately respond to a request for comment.

Trump has said he wants Apple and other manufacturers to move their production from China and other countries to the United States.

Another round of US tariffs on Chinese imports had been due to take effect in Sept. 1, but the Trump administration this week delayed the tariffs on some products until December 15.

"We're doing this for Christmas season, just in case some of the tariffs would have an impact on US customers," Trump said on Tuesday after the announcement.

Levies on Apple's MacBooks and iPhones were delayed until December, while tariffs on its AirPods, Apple Watch and HomePod will go into effect as scheduled next month.

The United States and China are locked in a trade war over US demands that China change its policies on intellectual property protection, technology transfers, industrial subsidies and other trade barriers.

Trump said on Thursday that US and Chinese negotiators were holding "productive" trade talks and expected them to meet in September.

US President Donald Trump said he was having dinner on Friday with Chief Executive Officer Tim Cook of Apple, a company the president has criticized for not manufacturing more of its products in the United States.

US President Donald Trump said he was having dinner on Friday with Chief Executive Officer Tim Cook of Apple, a company the president has criticized for not manufacturing more of its products in the United States. "Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the US Great!" Trump, who is on a working vacation at his golf club in Bedminster, New Jersey, said in a Twitter message. Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the U.S. Great! — Donald J. Trump (@realDonaldTrump) August 16, 2019 × The White House did not immediately respond to a question about the agenda for the dinner and what Trump was referring to when he said Apple would be spending vast sums in the United States. Apple did not immediately respond to a request for comment. Trump has said he wants Apple and other manufacturers to move their production from China and other countries to the United States. Another round of US tariffs on Chinese imports had been due to take effect in Sept. 1, but the Trump administration this week delayed the tariffs on some products until December 15. "We're doing this for Christmas season, just in case some of the tariffs would have an impact on US customers," Trump said on Tuesday after the announcement. Levies on Apple's MacBooks and iPhones were delayed until December, while tariffs on its AirPods, Apple Watch and HomePod will go into effect as scheduled next month. The United States and China are locked in a trade war over US demands that China change its policies on intellectual property protection, technology transfers, industrial subsidies and other trade barriers. Trump said on Thursday that US and Chinese negotiators were holding "productive" trade talks and expected them to meet in September.

Having dinner on Friday with Tim Cook of Apple: Trump

Donald Trump said Friday that tech giant Apple would be spending "vast sums" of money in the US in a tweet ahead of a dinner meeting with its CEO Tim Cook.

The men have had several informal meetings before, including at Bedminster, New Jersey, where Trump is reportedly on a working holiday at his golf course.

"Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the US Great!" he tweeted at around 7 pm local time.

The meeting follows Thursday's announcement from Apple that it has invested roughly $60 billion in the US, and currently employs some 90,000 people in the country.

Many of the tech giant's products are assembled in China and the company opposes incoming tariffs an issue Trump is fixated on of 10 per cent on goods manufactured in China, due to come into force on September 1.

Trump has rejected <a href="https://www.wionews.com/world/apple-loses-more-ground-in-smartphone-market-falls-to-fourth-place-in-global-sales-241919">Apple's calls for an exemption on its products</a>, tweeting in July the company should, "Make them in the USA, No Tariffs!"

But his administration announced Thursday tariffs on some goods would be delayed until December.

Apple did not immediately respond to comment about the dinner, and Trump did not tweet again about the meeting, or what was discussed.

The president's latest missive comes after a gaffe in March when he referred to Cook as "Tim Apple".

Donald Trump said Friday that tech giant Apple would be spending "vast sums" of money in the US in a tweet ahead of a dinner meeting with its CEO Tim Cook. The men have had several informal meetings before, including at Bedminster, New Jersey, where Trump is reportedly on a working holiday at his golf course.

Donald Trump said Friday that tech giant Apple would be spending "vast sums" of money in the US in a tweet ahead of a dinner meeting with its CEO Tim Cook. The men have had several informal meetings before, including at Bedminster, New Jersey, where Trump is reportedly on a working holiday at his golf course. "Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the US Great!" he tweeted at around 7 pm local time. The meeting follows Thursday's announcement from Apple that it has invested roughly $60 billion in the US, and currently employs some 90,000 people in the country. Many of the tech giant's products are assembled in China and the company opposes incoming tariffs an issue Trump is fixated on of 10 per cent on goods manufactured in China, due to come into force on September 1. Trump has rejected Apple's calls for an exemption on its products, tweeting in July the company should, "Make them in the USA, No Tariffs!" But his administration announced Thursday tariffs on some goods would be delayed until December. Apple did not immediately respond to comment about the dinner, and Trump did not tweet again about the meeting, or what was discussed. The president's latest missive comes after a gaffe in March when he referred to Cook as "Tim Apple".

Trump says Apple will spend 'vast sums' of money in the United States

Apple lost more ground in the <a href="https://www.wionews.com/world/apple-offers-record-bounty-to-researchers-who-find-iphone-security-flaws-241605">shrinking smartphone market</a> last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival.

Apple fell to fourth place in global smartphone sales, shipping 35.3 million iPhones in the second quarter compared to the 36.2 million units shipped by Oppo, according to a report from IHS Markit this week.

South Korean consumer electronics titan Samsung remained in first place with 23 per cent of the market, having shipped 75.1 million smartphones, China's Huawei shipped 58.7 million smartphones to claim 18 per cent of the market, IHS Markit calculated.

"Apple continues to face challenges in terms of unit shipments -- a trend that is unlikely to be fixed soon," IHS smartphone research and analysis director Jusy Hong said in an online post.

While California-based Apple has been aggressively promoting iPhones, current-generation smartphones have "super-premium" prices while models a few years old are still costly compared to bargain Android-powered handsets, the analyst reasoned.

Other smartphone market trackers such as Counterpoint Research and International Data Corporation concluded that while iPhone shipments sank in the second quarter, Apple remained in third place what it came to global shipments.

Huawei, meanwhile, saw smartphone shipments rise despite the overall market contracting and US-China trade tensions, market trackers reported.

Chinese rivals rising

Huawei -- considered the world leader in superfast fifth-generation, or 5G, equipment and the world's number two smartphone producer -- has been blacklisted by US President Donald Trump amid suspicions it provides a backdoor for Chinese intelligence services. The company denies those charges.

"The effect of the ban did not translate into falling shipments during this quarter, which will not be the case in the future," Counterpoint associate research director Tarun Pathak said in the firm's market report.

"In the coming quarters, Huawei is likely to be aggressive in its home market and register some growth there, but it will not be enough to offset for the decline in its overseas shipments."

The combined global smartphone market share of Chinese firms Huawei, Oppo, Vivo, Xiaomi and Realme reached a new high of 42 per cent in the second quarter, according to Counterpoint.

"These brands have been aggressively expanding outside China and achieving growth offsetting the saturation in their home market," said Counterpoint research analyst Varun Mishra.

"Their strategies and product portfolios are more aligned to the local needs and preferences, which is one of their key strengths."

Apple has been striving to wean itself off its reliance on iPhone sales with a focus on services, digital content and related gadgets.

In the just-ended quarter, Apple for the first time took in less than half its revenue from the iPhone, the longtime cash and profit driver for the company.

Apple managed to grow its overall revenues, albeit by a modest one per cent, to $53.8 billion, even as iPhone revenues plunged nearly 12 per cent in the April-June period.

The company delivered strong growth from digital content and services including Apply Pay and Apple Music, along with wearables and accessories like the Apple Watch and Air Pods.

Apple has stopped reporting iPhone unit sales, but chief executive Tim Cook said during an earnings call that there was a "strong customer response" to iPhone promotions and financing programs.

Apple saw its sales improve in the crucial China market, which included a double-digit increase in services revenue driven by strong growth in the App Store there, according to the company.

The sale of iPhones in that country was boosted by factors including pricing moves by Apple, and trade-in and financing programs, Cook said.

Apple lost more ground in the shrinking smartphone market last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival.

Apple lost more ground in the shrinking smartphone market last quarter, with a sales tracker saying the tech giant was pushed off the top-three seller list by a Chinese rival. Apple fell to fourth place in global smartphone sales, shipping 35.3 million iPhones in the second quarter compared to the 36.2 million units shipped by Oppo, according to a report from IHS Markit this week. South Korean consumer electronics titan Samsung remained in first place with 23 per cent of the market, having shipped 75.1 million smartphones, China's Huawei shipped 58.7 million smartphones to claim 18 per cent of the market, IHS Markit calculated. "Apple continues to face challenges in terms of unit shipments -- a trend that is unlikely to be fixed soon," IHS smartphone research and analysis director Jusy Hong said in an online post. While California-based Apple has been aggressively promoting iPhones, current-generation smartphones have "super-premium" prices while models a few years old are still costly compared to bargain Android-powered handsets, the analyst reasoned. Other smartphone market trackers such as Counterpoint Research and International Data Corporation concluded that while iPhone shipments sank in the second quarter, Apple remained in third place what it came to global shipments. Huawei, meanwhile, saw smartphone shipments rise despite the overall market contracting and US-China trade tensions, market trackers reported. Chinese rivals rising Huawei -- considered the world leader in superfast fifth-generation, or 5G, equipment and the world's number two smartphone producer -- has been blacklisted by US President Donald Trump amid suspicions it provides a backdoor for Chinese intelligence services. The company denies those charges. "The effect of the ban did not translate into falling shipments during this quarter, which will not be the case in the future," Counterpoint associate research director Tarun Pathak said in the firm's market report. "In the coming quarters, Huawei is likely to be aggressive in its home market and register some growth there, but it will not be enough to offset for the decline in its overseas shipments." The combined global smartphone market share of Chinese firms Huawei, Oppo, Vivo, Xiaomi and Realme reached a new high of 42 per cent in the second quarter, according to Counterpoint. "These brands have been aggressively expanding outside China and achieving growth offsetting the saturation in their home market," said Counterpoint research analyst Varun Mishra. "Their strategies and product portfolios are more aligned to the local needs and preferences, which is one of their key strengths." Apple has been striving to wean itself off its reliance on iPhone sales with a focus on services, digital content and related gadgets. In the just-ended quarter, Apple for the first time took in less than half its revenue from the iPhone, the longtime cash and profit driver for the company. Apple managed to grow its overall revenues, albeit by a modest one per cent, to $53.8 billion, even as iPhone revenues plunged nearly 12 per cent in the April-June period. The company delivered strong growth from digital content and services including Apply Pay and Apple Music, along with wearables and accessories like the Apple Watch and Air Pods. Apple has stopped reporting iPhone unit sales, but chief executive Tim Cook said during an earnings call that there was a "strong customer response" to iPhone promotions and financing programs. Apple saw its sales improve in the crucial China market, which included a double-digit increase in services revenue driven by strong growth in the App Store there, according to the company. The sale of iPhones in that country was boosted by factors including pricing moves by Apple, and trade-in and financing programs, Cook said.

Apple loses more ground in smartphone market; falls to fourth place in global sales

Apple Inc is offering cybersecurity researchers up to $1 million to detect flaws in<a href="https://www.wionews.com/world/apple-faces-investigation-for-suspected-unfair-competition-in-russia-241525"> iPhones</a>, the largest reward offered by a company to defend against hackers, at a time of rising concern about governments breaking into the mobile devices of dissidents, journalists and human rights advocates.

Unlike other technology providers, Apple previously offered rewards only to invited researchers who tried to find flaws in its phones and cloud backups.

At the annual Black Hat security conference in Las Vegas on Thursday, the company said it would open the process to all researchers, add Mac software and other targets, and offer a range of rewards, called "bounties," for the most significant findings.

The $1 million prize would apply only to remote access to the iPhone kernel without any action from the phone's user. Apple's previous highest bounty was $200,000 for friendly reports of bugs that can then be fixed with software updates and not leave them exposed to criminals or spies.

Watch: Apple loses bid to end Antitrust case in Supreme Court

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Government contractors and brokers have paid as much as $2 million for the most effective hacking techniques to obtain information from devices. Apple's new bounties, however, are in the same range as some published prices from contractors.

Apple is taking other steps to make research easier, including offering a modified phone that has some security measures disabled. A principal component of breaches is programs that take advantage of otherwise unknown flaws in the phones, their software or installed applications.

A number of private companies, such as Israel's NSO Group, sell hacking capabilities to governments.

"NSO Group develops technology that is licensed to intelligence and law enforcement agencies for the sole purpose of preventing and investigating terror and crime," NSO said in a statement. "It is not a tool to target journalists for doing their job or to silence critics." 
&nbsp;

Apple Inc is offering cybersecurity researchers up to $1 million to detect flaws in iPhones, the largest reward offered by a company to defend against hackers, at a time of rising concern about governments breaking into the mobile devices of dissidents, journalists and human rights advocates.

Apple Inc is offering cybersecurity researchers up to $1 million to detect flaws in iPhones, the largest reward offered by a company to defend against hackers, at a time of rising concern about governments breaking into the mobile devices of dissidents, journalists and human rights advocates. Unlike other technology providers, Apple previously offered rewards only to invited researchers who tried to find flaws in its phones and cloud backups. At the annual Black Hat security conference in Las Vegas on Thursday, the company said it would open the process to all researchers, add Mac software and other targets, and offer a range of rewards, called "bounties," for the most significant findings. The $1 million prize would apply only to remote access to the iPhone kernel without any action from the phone's user. Apple's previous highest bounty was $200,000 for friendly reports of bugs that can then be fixed with software updates and not leave them exposed to criminals or spies. Watch: Apple loses bid to end Antitrust case in Supreme Court × Government contractors and brokers have paid as much as $2 million for the most effective hacking techniques to obtain information from devices. Apple's new bounties, however, are in the same range as some published prices from contractors. Apple is taking other steps to make research easier, including offering a modified phone that has some security measures disabled. A principal component of breaches is programs that take advantage of otherwise unknown flaws in the phones, their software or installed applications. A number of private companies, such as Israel's NSO Group, sell hacking capabilities to governments. "NSO Group develops technology that is licensed to intelligence and law enforcement agencies for the sole purpose of preventing and investigating terror and crime," NSO said in a statement. "It is not a tool to target journalists for doing their job or to silence critics."

Apple offers record 'bounty' to researchers who find iPhone security flaws

Chinese telecom giant Huawei unveiled its<a href="https://www.wionews.com/business-economy/huawei-still-number-two-smartphone-seller-despite-us-sanctions-239773"> own operating system</a> on Friday, as it faces the threat of losing access to Android systems and US sanctions.

Richard Yu, the head of Huawei's consumer business, told a press conference in the southern city of Dongguan that the new system, called HarmonyOS, would "bring more harmony to the world".

On Thursday, Beijing had said US rules banning technology giant <a href="https://www.wionews.com/business-economy/huawei-rolls-out-5g-phone-and-flags-first-hongmeng-device-238641">Huawei and other Chinese firms</a> from government contracts amounted to &nbsp;"abuse of state power" amid an escalating China-US trade war.

Huawei's new operating system comes amid US moves to blacklist it, citing national security concerns, cutting it off from American-made components it needs for products - though it was issued a 90-day reprieve in May.

That ban could prevent the Chinese tech firm from getting hold of key hardware and software including smartphone chips and elements of the Google Android operating system even as Huawei said it would challenge the move in federal court.&nbsp;

Huawei was the world's number two smartphone producer last year, ahead of Apple and behind South Korea's Samsung, as well as the largest provider of telecom networking equipment, but the firm has emerged as a key bone of contention in the wider China-US trade war.

Washington accuses Huawei of working directly with the Chinese government, a claim the company denies.

The US fears that systems built by Huawei could be used by Beijing for espionage via secret "backdoors" built into telecom networking equipment.

Fears have also heightened over the coming rollout of super-fast 5G networks expected to power the next wave of technological development.&nbsp;

The latest US restrictions unveiled on Wednesday also bar contracts to Chinese firms ZTE, Hytera Communications Corporation, Hangzhou Hikvision Digital Technology Company and Dahua Technology Company. 
&nbsp;

Chinese telecom giant Huawei unveiled its own operating system on Friday, as it faces the threat of losing access to Android systems and US sanctions. Richard Yu, the head of Huawei's consumer business, told a press conference in the southern city of Dongguan that the new system, called HarmonyOS, would "bring more harmony to the world".

Chinese telecom giant Huawei unveiled its own operating system on Friday, as it faces the threat of losing access to Android systems and US sanctions. Richard Yu, the head of Huawei's consumer business, told a press conference in the southern city of Dongguan that the new system, called HarmonyOS, would "bring more harmony to the world". On Thursday, Beijing had said US rules banning technology giant Huawei and other Chinese firms from government contracts amounted to "abuse of state power" amid an escalating China-US trade war. Huawei's new operating system comes amid US moves to blacklist it, citing national security concerns, cutting it off from American-made components it needs for products - though it was issued a 90-day reprieve in May. That ban could prevent the Chinese tech firm from getting hold of key hardware and software including smartphone chips and elements of the Google Android operating system even as Huawei said it would challenge the move in federal court. Huawei was the world's number two smartphone producer last year, ahead of Apple and behind South Korea's Samsung, as well as the largest provider of telecom networking equipment, but the firm has emerged as a key bone of contention in the wider China-US trade war. Washington accuses Huawei of working directly with the Chinese government, a claim the company denies. The US fears that systems built by Huawei could be used by Beijing for espionage via secret "backdoors" built into telecom networking equipment. Fears have also heightened over the coming rollout of super-fast 5G networks expected to power the next wave of technological development. The latest US restrictions unveiled on Wednesday also bar contracts to Chinese firms ZTE, Hytera Communications Corporation, Hangzhou Hikvision Digital Technology Company and Dahua Technology Company.

Huawei unveils own operating system HarmonyOS to compete with Android

<h2 dir="auto" title="Apple faces investigation for suspected unfair competition in Russia"><meta charset="utf-8" /></h2>

Apple&nbsp;is under&nbsp;investigation&nbsp;in&nbsp;Russia&nbsp;following a complaint from<a href="https://www.wionews.com/world/i-live-in-constant-fearbulgaria-data-breach-victim-239482"> cybersecurity company</a> Kaspersky Lab and may be abusing its dominant market position, Russia's anti-monopoly watchdog said on Thursday.

Watchdog FAS said it was investigating why a new version of Kaspersky Lab's Safe Kids application had been declined by&nbsp;Apple's operating system, resulting in a significant loss in functionality for the parental control app.

It said&nbsp;Apple&nbsp;had released version 12 of its parental control app, Screen Time, which had similar functions to the Kaspersky program. Parental control apps allow parents to control their children's phone and tablet usage.

Asked about the&nbsp;<a href="https://www.wionews.com/world/robert-mueller-testimony-on-russia-meddling-investigation-postponed-reports-235395">Russian&nbsp;investigation,&nbsp;</a>Apple&nbsp;referred Reuters to an April 28 statement in which it said it had recently removed several parental control apps from its App Store because they "put users' privacy and security at risk."

It said several of these apps were using a "highly invasive" technology called Mobile Device Management (MDM) and that its use in a consumer-focused app was a violation of App Store policies.

Kaspersky said&nbsp;Apple's App Store guidelines allowed for limited use of MDM, but that it was not clear how to obtain&nbsp;Apple's permission to do so. It also said the requirements reduced the competitiveness of third party developers.

Apple is under investigation in Russia following a complaint from cybersecurity company Kaspersky Lab and may be abusing its dominant market position, Russia's anti-monopoly watchdog said on Thursday.

Apple is under investigation in Russia following a complaint from cybersecurity company Kaspersky Lab and may be abusing its dominant market position, Russia's anti-monopoly watchdog said on Thursday. Watchdog FAS said it was investigating why a new version of Kaspersky Lab's Safe Kids application had been declined by Apple's operating system, resulting in a significant loss in functionality for the parental control app. It said Apple had released version 12 of its parental control app, Screen Time, which had similar functions to the Kaspersky program. Parental control apps allow parents to control their children's phone and tablet usage. Asked about the Russian investigation, Apple referred Reuters to an April 28 statement in which it said it had recently removed several parental control apps from its App Store because they "put users' privacy and security at risk." It said several of these apps were using a "highly invasive" technology called Mobile Device Management (MDM) and that its use in a consumer-focused app was a violation of App Store policies. Kaspersky said Apple's App Store guidelines allowed for limited use of MDM, but that it was not clear how to obtain Apple's permission to do so. It also said the requirements reduced the competitiveness of third party developers.

Apple faces investigation for suspected unfair competition in Russia

Apple Inc rolled out its virtual credit card on Tuesday, working with bank Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from device sales and build out the Wall Street bank's new consumer business.

Apple announced the card in March, aiming to draw in iPhone owners by offering a card with 2% cashback on purchases with the Apple Pay service, no fees, an app to manage related finances, and a focus on data privacy.

For Goldman, the issuing bank, the card builds on a foray into its Marcus consumer banking brand, started in 2015.

Apple said a limited number of consumers who expressed interest in the card will start to receive sign-up invitations on Tuesday.

The card is designed to work with the iPhone, where users sign up for the card and can start using it immediately if approved via the Apple Wallet app and Apple Pay system.

Apple offers an option for a physical card made of titanium, but the physical card has no visible number. Instead, the card's number is stored in a secure chip inside the iPhone, which generates virtual numbers for online or over-the-phone purchases requiring a number.

Apple has focused on privacy, saying that purchase information is stored on the user's iPhone and that it cannot see the information.&nbsp;

Goldman will not be allowed to use data for marketing purposes, even for selling other Goldman products.

Gene Munster, managing partner with Loup Ventures and a longtime Apple watcher, said Apple Card adoption is likely to be low in the first year, but that Apple Card could generate about $1.4 billion of high-margin revenue by 2023, adding about 1.8% to Apple's overall earnings and complementing the much larger Apple Pay business for total payments revenue of $5.38 billion by 2023. Apple has roughly 50 million US Apple Pay users now.

But at Apple's size - $265.6 billion in sales for fiscal 2018 - the revenue matters less than the effect on keeping Apple customers tied to its brand, analysts said, said Ben Bajarin, an analyst at Creative Strategies. 
"If it works, it's one more thing that causes you to stay deeply loyal and entrenched in the Apple ecosystem, even if something better comes along," he said

Apple Inc rolled out its virtual credit card on Tuesday, working with bank Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from device sales and build out the Wall Street bank's new consumer business.

Apple Inc rolled out its virtual credit card on Tuesday, working with bank Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from device sales and build out the Wall Street bank's new consumer business. Apple announced the card in March, aiming to draw in iPhone owners by offering a card with 2% cashback on purchases with the Apple Pay service, no fees, an app to manage related finances, and a focus on data privacy. For Goldman, the issuing bank, the card builds on a foray into its Marcus consumer banking brand, started in 2015. Apple said a limited number of consumers who expressed interest in the card will start to receive sign-up invitations on Tuesday. The card is designed to work with the iPhone, where users sign up for the card and can start using it immediately if approved via the Apple Wallet app and Apple Pay system. Apple offers an option for a physical card made of titanium, but the physical card has no visible number. Instead, the card's number is stored in a secure chip inside the iPhone, which generates virtual numbers for online or over-the-phone purchases requiring a number. Apple has focused on privacy, saying that purchase information is stored on the user's iPhone and that it cannot see the information. Goldman will not be allowed to use data for marketing purposes, even for selling other Goldman products. Gene Munster, managing partner with Loup Ventures and a longtime Apple watcher, said Apple Card adoption is likely to be low in the first year, but that Apple Card could generate about $1.4 billion of high-margin revenue by 2023, adding about 1.8% to Apple's overall earnings and complementing the much larger Apple Pay business for total payments revenue of $5.38 billion by 2023. Apple has roughly 50 million US Apple Pay users now. But at Apple's size - $265.6 billion in sales for fiscal 2018 - the revenue matters less than the effect on keeping Apple customers tied to its brand, analysts said, said Ben Bajarin, an analyst at Creative Strategies. "If it works, it's one more thing that causes you to stay deeply loyal and entrenched in the Apple ecosystem, even if something better comes along," he said

Apple, Goldman Sachs start issuing Apple Cards to consumers

With its latest financial results, <a href="https://www.wionews.com/business-economy/apple-woos-investors-with-china-gain-market-value-nears-1-trillion-239747">Apple </a>is showing it can move beyond the<a href="https://www.wionews.com/business-economy/apples-services-wearables-shore-up-results-as-iphone-drops-below-half-of-sales-239681"> iPhone</a> with gadgets and services that can help the California tech giant weather the slumping smartphone market.

In the just-ended quarter, Apple took in less than half its revenue from the iPhone, the longtime cash and profit driver for the company, representing a milestone for the company.

Apple managed to grow its overall revenues, albeit by a modest one per cent, to $53.8 billion, even as iPhone revenues plunged nearly 12 per cent in the April-June period.

The company delivered strong growth from digital content and services that include its Apply Pay and Apple Music, along with wearables and accessories like the Apple Watch and Air Pods.

Apple is preparing to launch its branded credit card in August that ties into its digital wallet, as well as its own streaming television service to compete with Netflix and others, with at least $1 billion invested in original content.

The results show Apple is lessening its dependence on the iPhone, analysts said.

"As the smartphone market matures Apple can no longer rely on iPhones alone to power the company forward," said Avi Greengart of the consultancy Techsponential.

"Apple has been signaling for a while that its plan was to diversify into services and we've seen from the latest results that this strategy is working quite well."

- Apple's roadmap -

Apple's update should allay investor concerns that the company's growth could be hobbled by a sputtering smartphone market, said a research note from Gene Munster and Will Thompson of the equity firm Loup Ventures.

"We believe the Street is systematically undervaluing Apple's ecosystem by focusing on hardware sales instead of revenue and earnings growth plus optionality," Munster and Thompson wrote.

"We believe this quarter's results and the roadmap for the next two years will prove to be a turning point for investors to begin valuing Apple with a more appropriate multiple."&nbsp;

- Challenges ahead -

But some analysts warn that Apple still faces challenges as rivals chip away at the smartphone market, in which the iPhone's share is less than 12 per cent.

Daniel Newman of Futurum Research said it was "an impressively unimpressive quarter" for Apple highlighted by weak iPhone sales.

"I believe the iPhone success is a double-edged sword for Apple, because it has become such a dependency for the company to achieve its growth targets, yet the market is clearly showing a stabilizing or even shrinking demand," Newman said in a research note.

Newman said Apple has no other product as lucrative as the iPhone, which has seen problems in China and has failed to gain traction in low-income countries.

"I believe Apple is floundering a bit more than people want to believe," Newman said.

"The company's strategy seems to be lacking vision. Apple's growth is coming from accessories and services, rather than iPhones and iPads. While diversification is a step forward, the company will need more of it, and fast."

Richard Windsor of the research firm Radio Free Mobile said Apple "is still a one-product company" because its ecosystem revolves around the iPhone.

"I still think that ending its dependence on the iPhone is a very distant dream meaning Apple will continue to live and die with the success of this product," Windsor said in a blog post.

While Apple is showing gains in these new services, Windsor said Apple's trajectory remains somewhat murky.

"If the Apple iPhone suddenly loses its mojo then these businesses which are being dressed up as iPhone independent are also likely to crater."

Greengart said the fears are overblown, pointing out that Apple has a large and loyal base of iPhone users which allows the company to sell more accessories and services.

"They're keeping their existing customers and there's still more switching to iPhone than away from iPhone," he said.

Greengart said Apple has the potential to lead in mobile augmented and virtual reality, health and wellness services through its smartwatch, which has been dominating the segment.

"Satisfaction with the Apple Watch is very high," the analyst said.

"If you want a smartwatch and you have an iPhone the Apple Watch is compelling, and once you have the Apple Watch, you're not going to switch to Android."

With its latest financial results, Apple is showing it can move beyond the iPhone with gadgets and services that can help the California tech giant weather the slumping smartphone market.

With its latest financial results, Apple is showing it can move beyond the iPhone with gadgets and services that can help the California tech giant weather the slumping smartphone market. In the just-ended quarter, Apple took in less than half its revenue from the iPhone, the longtime cash and profit driver for the company, representing a milestone for the company. Apple managed to grow its overall revenues, albeit by a modest one per cent, to $53.8 billion, even as iPhone revenues plunged nearly 12 per cent in the April-June period. The company delivered strong growth from digital content and services that include its Apply Pay and Apple Music, along with wearables and accessories like the Apple Watch and Air Pods. Apple is preparing to launch its branded credit card in August that ties into its digital wallet, as well as its own streaming television service to compete with Netflix and others, with at least $1 billion invested in original content. The results show Apple is lessening its dependence on the iPhone, analysts said. "As the smartphone market matures Apple can no longer rely on iPhones alone to power the company forward," said Avi Greengart of the consultancy Techsponential. "Apple has been signaling for a while that its plan was to diversify into services and we've seen from the latest results that this strategy is working quite well." - Apple's roadmap - Apple's update should allay investor concerns that the company's growth could be hobbled by a sputtering smartphone market, said a research note from Gene Munster and Will Thompson of the equity firm Loup Ventures. "We believe the Street is systematically undervaluing Apple's ecosystem by focusing on hardware sales instead of revenue and earnings growth plus optionality," Munster and Thompson wrote. "We believe this quarter's results and the roadmap for the next two years will prove to be a turning point for investors to begin valuing Apple with a more appropriate multiple." - Challenges ahead - But some analysts warn that Apple still faces challenges as rivals chip away at the smartphone market, in which the iPhone's share is less than 12 per cent. Daniel Newman of Futurum Research said it was "an impressively unimpressive quarter" for Apple highlighted by weak iPhone sales. "I believe the iPhone success is a double-edged sword for Apple, because it has become such a dependency for the company to achieve its growth targets, yet the market is clearly showing a stabilizing or even shrinking demand," Newman said in a research note. Newman said Apple has no other product as lucrative as the iPhone, which has seen problems in China and has failed to gain traction in low-income countries. "I believe Apple is floundering a bit more than people want to believe," Newman said. "The company's strategy seems to be lacking vision. Apple's growth is coming from accessories and services, rather than iPhones and iPads. While diversification is a step forward, the company will need more of it, and fast." Richard Windsor of the research firm Radio Free Mobile said Apple "is still a one-product company" because its ecosystem revolves around the iPhone. "I still think that ending its dependence on the iPhone is a very distant dream meaning Apple will continue to live and die with the success of this product," Windsor said in a blog post. While Apple is showing gains in these new services, Windsor said Apple's trajectory remains somewhat murky. "If the Apple iPhone suddenly loses its mojo then these businesses which are being dressed up as iPhone independent are also likely to crater." Greengart said the fears are overblown, pointing out that Apple has a large and loyal base of iPhone users which allows the company to sell more accessories and services. "They're keeping their existing customers and there's still more switching to iPhone than away from iPhone," he said. Greengart said Apple has the potential to lead in mobile augmented and virtual reality, health and wellness services through its smartwatch, which has been dominating the segment. "Satisfaction with the Apple Watch is very high," the analyst said. "If you want a smartwatch and you have an iPhone the Apple Watch is compelling, and once you have the Apple Watch, you're not going to switch to Android."

As iPhone sales sputter, Apple moves toward reinvention, again

Apple CEO Tim Cook on Tuesday said that the desire to keep <a href="https://www.wionews.com/world/apple-will-not-be-given-tariff-wavers-or-relief-for-mac-pro-parts-made-in-china-trump-238701">Mac Pro computer production</a> in United States was behind the company's recent request for tariff exclusions.

"We want to continue to be here," he told analysts on a post-earnings call, adding that the company is investing in capacity to manufacture $6,000 Mac Pros in the United States.

On July 18, Apple had asked the US Trade Representative's office <a href="https://www.wionews.com/world/apple-explores-moving-15-30-of-production-capacity-from-china-to-southeast-asia-report-228703">to waive 25 per cent tariffs </a>on 15 parts, including ones for the Mac Pro desktop computer. The public comment period for those requests closes on August 1.

The Wall Street Journal reported in June that Apple is shifting manufacturing of its new Mac Pro desktop computer to China from Texas.

Last week, US President Donald Trump had said his administration would not grant Apple any relief for tariffs on parts made in China for Mac Pro, later adding that he thought the firm would build a plant in Texas.

Apple Inc iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook described the change as successfully diversifying away from a single product and forecast results above Wall Street targets.

Apple's greater China sales, which had gone into a near free fall earlier this year, dipped only slightly, assuaging concerns that trade tension were undermining Apple's standing in one of its most important markets. Shares rose 4.25 per cent after hours.

"We actually grew in mainland China," Cook said, adding,"non-iPhone revenue grew 17 per cent. We grew in every category outside of iPhone."

Apple reported results as US and Chinese trade negotiators resumed off-and-on talks. US President Donald Trump has suspended new tariffs on a final $300 billion of Chinese imports, which would include iPhones.

Trade tension has slowed down economic growth in China, a major market for Apple, which effectively cut iPhone prices in China earlier this year after currency exchange rates had made its phones too expensive for many Chinese consumers.

Apple CEO Tim Cook on Tuesday said that the desire to keep Mac Pro computer production in United States was behind the company's recent request for tariff exclusions.

Apple CEO Tim Cook on Tuesday said that the desire to keep Mac Pro computer production in United States was behind the company's recent request for tariff exclusions. "We want to continue to be here," he told analysts on a post-earnings call, adding that the company is investing in capacity to manufacture $6,000 Mac Pros in the United States. On July 18, Apple had asked the US Trade Representative's office to waive 25 per cent tariffs on 15 parts, including ones for the Mac Pro desktop computer. The public comment period for those requests closes on August 1. The Wall Street Journal reported in June that Apple is shifting manufacturing of its new Mac Pro desktop computer to China from Texas. Last week, US President Donald Trump had said his administration would not grant Apple any relief for tariffs on parts made in China for Mac Pro, later adding that he thought the firm would build a plant in Texas. Apple Inc iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook described the change as successfully diversifying away from a single product and forecast results above Wall Street targets. Apple's greater China sales, which had gone into a near free fall earlier this year, dipped only slightly, assuaging concerns that trade tension were undermining Apple's standing in one of its most important markets. Shares rose 4.25 per cent after hours. "We actually grew in mainland China," Cook said, adding,"non-iPhone revenue grew 17 per cent. We grew in every category outside of iPhone." Apple reported results as US and Chinese trade negotiators resumed off-and-on talks. US President Donald Trump has suspended new tariffs on a final $300 billion of Chinese imports, which would include iPhones. Trade tension has slowed down economic growth in China, a major market for Apple, which effectively cut iPhone prices in China earlier this year after currency exchange rates had made its phones too expensive for many Chinese consumers.

Want to make high end computers in US, need tariff relief: Apple CEO Tim Cook

Shares of Apple Inc rose 4.2 per cent on Wednesday after the company calmed <a href="https://www.wionews.com/world/wall-street-notches-all-time-highs-as-rate-cut-hopes-lift-investor-spirits-235406">Wall Street</a> nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019.

If the gains hold, Apple would be within touching distance of again topping $1 trillion in market value, just shy of the world's most valuable company, Microsoft Corp. Apple had 4.53 billion shares outstanding at the end of last quarter.

In the earnings report after markets closed on Tuesday, Apple said services revenue rose 12.6 per cent to $11.5 billion in the three months to June, offsetting a 12 per cent fall in global iPhone sales to just under $26 billion.

"We were especially pleased with the double-digit increase in Services driven by strong growth from the App Store in China," <a href="https://www.wionews.com/business-economy/want-to-make-high-end-computers-in-us-need-tariff-relief-apple-ceo-tim-cook-239585">Chief Executive Tim Cook</a> told a conference call after the results.

JP Morgan analyst Samik Chatterjee, who rates the stock 'Overweight', said he believed Apple's transformation of the services business and a strong product cycle are strong reasons to own its shares.

At least seven of the 43 brokerages who rate Apple shares raised their price targets for the stock, with Citigroup raising its price target by $45 to $250. The median of current recommendations is $217.

In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, driving a more rise in services sales by the company in the world's second-largest economy.

Concerns about a slowdown in China, where iPhone sales continue to decline, have helped keep Apple's share price below last year's highs. But it is still up 50 per cent in value from lows hit in a market sell-off at the end of last year.

"If there is a China slowdown, clearly no one told Tim about it," Evercore analyst Amit Daryanani wrote in a note.

Shares of Apple Inc rose 4.2 per cent on Wednesday after the company calmed Wall Street nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019.

Shares of Apple Inc rose 4.2 per cent on Wednesday after the company calmed Wall Street nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019. If the gains hold, Apple would be within touching distance of again topping $1 trillion in market value, just shy of the world's most valuable company, Microsoft Corp. Apple had 4.53 billion shares outstanding at the end of last quarter. In the earnings report after markets closed on Tuesday, Apple said services revenue rose 12.6 per cent to $11.5 billion in the three months to June, offsetting a 12 per cent fall in global iPhone sales to just under $26 billion. "We were especially pleased with the double-digit increase in Services driven by strong growth from the App Store in China," Chief Executive Tim Cook told a conference call after the results. JP Morgan analyst Samik Chatterjee, who rates the stock 'Overweight', said he believed Apple's transformation of the services business and a strong product cycle are strong reasons to own its shares. At least seven of the 43 brokerages who rate Apple shares raised their price targets for the stock, with Citigroup raising its price target by $45 to $250. The median of current recommendations is $217. In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, driving a more rise in services sales by the company in the world's second-largest economy. Concerns about a slowdown in China, where iPhone sales continue to decline, have helped keep Apple's share price below last year's highs. But it is still up 50 per cent in value from lows hit in a market sell-off at the end of last year. "If there is a China slowdown, clearly no one told Tim about it," Evercore analyst Amit Daryanani wrote in a note.

Apple woos investors with China gain, market value nears $1 trillion

<a href="https://www.wionews.com/business-economy/want-to-make-high-end-computers-in-us-need-tariff-relief-apple-ceo-tim-cook-239585">Apple Inc iPhone</a> sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook on Tuesday described the change as successfully diversifying away from a single product and forecast results above Wall Street targets.

That strategy proved especially useful in China, the world's largest smartphone market. Investors feared a drumbeat of negative shipment data from the Chinese government and analysts meant problems for the iPhone maker.

Apple's greater China sales, which had gone into a near free-fall earlier this year, dipped only slightly, assuaging concerns that trade tension was undermining Apple's standing in one of its most important markets. Shares rose 4.25 per cent after hours.

Moribund global mobile phone sales have led Apple to focus on accessories like the Apple Watch and growth in music, apps, gaming, video and a credit card coming in August. In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, helping to increase the market for its services, whose sales were up by more than 10 per cent there.

"We grew in mainland China," Cook told Reuters. "Non-iPhone revenue grew 17 per cent. We grew in every category outside of iPhone."

But globally, iPhone sales fell 12 per cent to $25.99 billion, after dropping 17 per cent in the previous quarter, and matched Wall Street targets.&nbsp;

&nbsp;Wearables and other accessories revenue rose nearly 50 per cent, topping expectations.

Services revenue rose 12.6 per cent to $11.46 billion, slowing and slightly missing expectations but setting a new record.

Apple said it expects revenue for the current fiscal fourth quarter of between $61 billion and $64 billion, compared with analyst estimates of $61.02 billion.&nbsp;

At the high end of Apple's forecasted range, sales would beat the prior year's $62.90 billion in sales, even though analysts expected continued lacklustre iPhone sales until 5G models arrive in 2020.

For the fiscal third quarter ended in June, Apple reported a 1 per cent rise in revenue to $53.8 billion and a 7 per cent drop in earnings per share to $2.18, compared with expectations of $53.39 billion and $2.10 per share, according to Refinitiv data.

Hal Eddins, a chief economist for Apple shareholder Capital Investment Counsel, said he was pleasantly surprised to see iPhone sales declines slow down versus the prior quarter.

"You don’t hear people talk about their phones like they did several years ago," Eddins said. But, "the key is that when people want to splurge on a phone, they do it with an Apple product."

Apple did not give the number of active <a href="https://www.wionews.com/business-economy/apples-india-made-top-end-iphones-to-hit-stores-next-month-source-235135">Apple devices</a>, but in January it said it was 1.4 billion, with 900 million of those being iPhones. Investors used the number, called the installed base, as a proxy for how many subscribers it can gain for its services business.&nbsp;

Cook told investors on a conference call Tuesday that Apple has 420 million paid subscribers to its services and third-party apps. The company has set a goal of 500 million by 2020.

Trip Miller, the managing partner at Apple shareholder Gullane Capital Partners, said he wants to see services growth return to the 20 per cent range and thinks Apple needs to use its billions in cash to buy media properties to fuel its forthcoming television service.

"You have to have a bigger installed base and have services that people get value from," Miller said.

Trade tension still looms large

Apple reported results as US and Chinese trade negotiators resumed off-and-on talks. The US President Donald Trump has suspended new tariffs on a final $300 billion of Chinese imports, which would include iPhones.

Trade tension has slowed down economic growth in China, a major market for Apple, which effectively cut iPhone prices in China earlier this year after currency exchange rates had made its phones too expensive for many Chinese consumers.

Apple's market share in China declined to 5.8 per cent from 6.4 per cent, according to market research firm Canalys, in part because smartphone rival Huawei Technologies Co Ltd gained market share to become the top handset seller in the country.

But Apple experienced a smaller market share less than competitors such as Xiaomi Corp, Oppo and Vivo, according to Canalys data. Cook said that iPhone price adjustments, plus the Chinese government's move to cut phone taxes, helped keep iPhone sales in China from eroding further.

"Our trade-in and financing programs are doing extremely well in China," Cook told Reuters. "Because of the active installed base is growing in China, our services business is doing very well, growing double digits."

Apple shares have gained more than 20 per cent since early June when shares dropped on news that the US Department of Justice had jurisdiction over the company in a potential probe as part of a broader review of whether technology giants engage in anticompetitive practices.

Apple said revenue for its "Wearables, home and accessories" segment that contains devices like the Apple Watch and AirPods was $5.53 billion, compared with analyst estimates of $4.81 billion.

Apple said it returned more than $21 billion to shareholders during the fiscal third quarter, including $17 billion in share repurchases. It declared a dividend of 77 cents per share.

Apple Inc iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook on Tuesday described the change as successfully diversifying away from a single product and forecast results above Wall Street targets.

Apple Inc iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, but CEO Tim Cook on Tuesday described the change as successfully diversifying away from a single product and forecast results above Wall Street targets. That strategy proved especially useful in China, the world's largest smartphone market. Investors feared a drumbeat of negative shipment data from the Chinese government and analysts meant problems for the iPhone maker. Apple's greater China sales, which had gone into a near free-fall earlier this year, dipped only slightly, assuaging concerns that trade tension was undermining Apple's standing in one of its most important markets. Shares rose 4.25 per cent after hours. Moribund global mobile phone sales have led Apple to focus on accessories like the Apple Watch and growth in music, apps, gaming, video and a credit card coming in August. In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, helping to increase the market for its services, whose sales were up by more than 10 per cent there. "We grew in mainland China," Cook told Reuters. "Non-iPhone revenue grew 17 per cent. We grew in every category outside of iPhone." But globally, iPhone sales fell 12 per cent to $25.99 billion, after dropping 17 per cent in the previous quarter, and matched Wall Street targets. Wearables and other accessories revenue rose nearly 50 per cent, topping expectations. Services revenue rose 12.6 per cent to $11.46 billion, slowing and slightly missing expectations but setting a new record. Apple said it expects revenue for the current fiscal fourth quarter of between $61 billion and $64 billion, compared with analyst estimates of $61.02 billion. At the high end of Apple's forecasted range, sales would beat the prior year's $62.90 billion in sales, even though analysts expected continued lacklustre iPhone sales until 5G models arrive in 2020. For the fiscal third quarter ended in June, Apple reported a 1 per cent rise in revenue to $53.8 billion and a 7 per cent drop in earnings per share to $2.18, compared with expectations of $53.39 billion and $2.10 per share, according to Refinitiv data. Hal Eddins, a chief economist for Apple shareholder Capital Investment Counsel, said he was pleasantly surprised to see iPhone sales declines slow down versus the prior quarter. "You don’t hear people talk about their phones like they did several years ago," Eddins said. But, "the key is that when people want to splurge on a phone, they do it with an Apple product." Apple did not give the number of active Apple devices, but in January it said it was 1.4 billion, with 900 million of those being iPhones. Investors used the number, called the installed base, as a proxy for how many subscribers it can gain for its services business. Cook told investors on a conference call Tuesday that Apple has 420 million paid subscribers to its services and third-party apps. The company has set a goal of 500 million by 2020. Trip Miller, the managing partner at Apple shareholder Gullane Capital Partners, said he wants to see services growth return to the 20 per cent range and thinks Apple needs to use its billions in cash to buy media properties to fuel its forthcoming television service. "You have to have a bigger installed base and have services that people get value from," Miller said. Trade tension still looms large Apple reported results as US and Chinese trade negotiators resumed off-and-on talks. The US President Donald Trump has suspended new tariffs on a final $300 billion of Chinese imports, which would include iPhones. Trade tension has slowed down economic growth in China, a major market for Apple, which effectively cut iPhone prices in China earlier this year after currency exchange rates had made its phones too expensive for many Chinese consumers. Apple's market share in China declined to 5.8 per cent from 6.4 per cent, according to market research firm Canalys, in part because smartphone rival Huawei Technologies Co Ltd gained market share to become the top handset seller in the country. But Apple experienced a smaller market share less than competitors such as Xiaomi Corp, Oppo and Vivo, according to Canalys data. Cook said that iPhone price adjustments, plus the Chinese government's move to cut phone taxes, helped keep iPhone sales in China from eroding further. "Our trade-in and financing programs are doing extremely well in China," Cook told Reuters. "Because of the active installed base is growing in China, our services business is doing very well, growing double digits." Apple shares have gained more than 20 per cent since early June when shares dropped on news that the US Department of Justice had jurisdiction over the company in a potential probe as part of a broader review of whether technology giants engage in anticompetitive practices. Apple said revenue for its "Wearables, home and accessories" segment that contains devices like the Apple Watch and AirPods was $5.53 billion, compared with analyst estimates of $4.81 billion. Apple said it returned more than $21 billion to shareholders during the fiscal third quarter, including $17 billion in share repurchases. It declared a dividend of 77 cents per share.

Apple's services, wearables shore up results as iPhone drops below half of sales

US president in a tweet said that Apple will no longer be given tariff waivers or relief for Mac Pro parts <a href="https://www.wionews.com/business-economy/will-apples-roots-in-china-hold-fast-amid-political-storm-222619">which were&nbsp;made in China</a>.

"Make them in the USA, no tariffs!" the US president tweeted.&nbsp;Apple shares dipped slightly as Trump tweeted.&nbsp;

A report in the Wall Street Journal last month had said that Apple was planning to shift production of Mac Pro computers to China amid the escalating trade war between the US and China.

Several experts felt the move could anger President Trump who has been pressing US companies to make things in America.

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Apple will not be given Tariff wavers, or relief, for Mac Pro parts that are made in China. Make them in the USA, no Tariffs!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1154755462925099008?ref_src=twsrc%5Etfw">July 26, 2019</a></blockquote>
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On Google, the US president tweeted, saying: "There may or may not be national security concerns with regard to Google and their relationship with China," adding, "if there is a problem, we will find out about it. I sincerely hope there is not!!!

In another report, Nikkei Asian Review had said that Apple Inc had&nbsp;asked its major suppliers to assess the cost implications of moving 15 per cent to 30 per cent&nbsp;of its&nbsp;production capacity from China to Southeast Asia to prepare&nbsp;for the&nbsp;restructuring of its supply chain due to the US-China trade spat.

Several iPhone assemblers including Foxconn, Pegatron Corp, Wistron Corp were reportedly asked to evaluate options outside of China with Mexico, India, Vietnam, Indonesia and Malaysia being the hot favourites, with Nikkei quoting sources to cite that India and Vietnam were among the frontrunners&nbsp;for smartphones. 
&nbsp;

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There may or may not be National Security concerns with regard to Google and their relationship with China. If there is a problem, we will find out about it. I sincerely hope there is not!!!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1154753932259991552?ref_src=twsrc%5Etfw">July 26, 2019</a></blockquote>
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Trump's latest tweet&nbsp;comes in the backdrop of US Attorney General William Barr statement in which he said that "bipartisan group had held discussions centred on big tech companies stifling competition on the internet".

The US Justice Department had said&nbsp;that it was opening an investigation of major digital technology firms.

US president in a tweet said that Apple will no longer be given tariff waivers or relief for Mac Pro parts which were made in China. "Make them in the USA, no tariffs!

US president in a tweet said that Apple will no longer be given tariff waivers or relief for Mac Pro parts which were made in China. "Make them in the USA, no tariffs!" the US president tweeted. Apple shares dipped slightly as Trump tweeted. A report in the Wall Street Journal last month had said that Apple was planning to shift production of Mac Pro computers to China amid the escalating trade war between the US and China. Several experts felt the move could anger President Trump who has been pressing US companies to make things in America. Apple will not be given Tariff wavers, or relief, for Mac Pro parts that are made in China. Make them in the USA, no Tariffs! — Donald J. Trump (@realDonaldTrump) July 26, 2019 × On Google, the US president tweeted, saying: "There may or may not be national security concerns with regard to Google and their relationship with China," adding, "if there is a problem, we will find out about it. I sincerely hope there is not!!! In another report, Nikkei Asian Review had said that Apple Inc had asked its major suppliers to assess the cost implications of moving 15 per cent to 30 per cent of its production capacity from China to Southeast Asia to prepare for the restructuring of its supply chain due to the US-China trade spat. Several iPhone assemblers including Foxconn, Pegatron Corp, Wistron Corp were reportedly asked to evaluate options outside of China with Mexico, India, Vietnam, Indonesia and Malaysia being the hot favourites, with Nikkei quoting sources to cite that India and Vietnam were among the frontrunners for smartphones. There may or may not be National Security concerns with regard to Google and their relationship with China. If there is a problem, we will find out about it. I sincerely hope there is not!!! — Donald J. Trump (@realDonaldTrump) July 26, 2019 × Trump's latest tweet comes in the backdrop of US Attorney General William Barr statement in which he said that "bipartisan group had held discussions centred on big tech companies stifling competition on the internet". The US Justice Department had said that it was opening an investigation of major digital technology firms.

Apple will not be given tariff wavers or relief for Mac Pro parts made in China: Trump

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) on Thursday said it expects a stronger half-year on <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/china-soon-to-issue-5g-license-as-it-enters-crucial-period-223979&amp;sa=U&amp;ved=2ahUKEwjzz7_2pr7jAhWKiXAKHdeuASUQFjAAegQIARAC&amp;usg=AOvVaw3Jz3ha5QNLHaEe2H2YzeoJ">5G telecoms</a> demand, and that a dispute over chip-making materials between Japan and South Korea in its most uncertain factor.

The world's largest contract chipmaker reported a decline in second-quarter profit but said demand is likely to recover during the rest of 2019 particularly from smartphone makers, hampered at present by the impact of a Sino-US&nbsp;trade war.

"Although our business continues to be impacted by a global slowing economy ... we have also passed the bottom of the cycle of our business and again began to see demand increasing," Chief Executive Officer and Vice Chairman Chung Ching Wei told analysts during an earnings briefing.

Taiwan's supply chain manufacturers have been navigating slowing global demand for smartphones - a primary source of revenue - as well as market disruption stemming from tit-for-tat import tariffs between China and the United States, plus the latter's ban on US companies doing business with Chinese telecoms equipment maker Huawei Technologies Co Ltd.

Adding to risk factors, Japan last week tightened curbs on exports of high-tech materials used in smartphone displays and chips to South Korea, home to the world's biggest memory chip makers, Samsung Electronics Co Ltd, and SK Hynix Inc.

TSMC Chairman Mark Liu said the dispute is a major uncertainty for the coming months as it is likely to impact technology supply chains, as Japan dominates the market for the materials in question.

Earlier, TSMC, a proxy for technology demand as its clients include iPhone maker Apple and chip leader Qualcomm Inc, reported a 7.6% decline in April-June net profit at T$66.77 billion ($2.15 billion), meeting analyst estimates.

Revenue rose 3.3% to T$241 billion but fell 1.4% to $7.75 billion in US&nbsp;dollar terms - still topping both the firm's forecast and the average of 23 analyst estimates compiled by Refinitiv.

Business in the third quarter will be driven by increased demand for fifth-generation telecommunications (5G) equipment as well as for smartphones spurred by new product launches, and the fourth quarter will be even stronger, Wei said.

TSMC forecast a gross profit margin of 46% to 48% for the third quarter, and an operating margin of 35% to 37%, compared with 47.4% and 36.6%, respectively, a year earlier.

The chipmaker also said it expected annual capital expenditure for the year to exceed the high end of its earlier forecast of $10 billion to $11 billion due to strong 5G demand.

Even so, analysts were cautious about TSMC's growth outlook for the coming months, citing a slower-than-expected introduction of 5G technology and still-tepid demand for smartphones, which they said accounted for nearly half of its first-quarter sales.

"With a still-slow demand recovery and excessive inventory, we think wafer orders from fabless companies might remain weak," Fubon Securities analyst Sherman Shang wrote in a research note prior to TSMC's earnings announcement.

TSMC's short-term downside, however, could be supported by "major customers' recovery in 2020 from a very low base in 2019, such as Apple," Shang wrote.

Indicating evolving market conditions, the spread of accelerating the spread of 5G networks helped Dutch semiconductor equipment maker ASML Holding NV, a supplier to TSMC, beat analysts' second-quarter earnings estimates on Wednesday.

Prior to TSMC's announcement, shares in the chipmaker closed up 0.8% versus a 0.25% fall in the wider market. The stock has risen around 13% so far this year.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) on Thursday said it expects a stronger half-year on 5G telecoms demand, and that a dispute over chip-making materials between Japan and South Korea in its most uncertain factor.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) on Thursday said it expects a stronger half-year on 5G telecoms demand, and that a dispute over chip-making materials between Japan and South Korea in its most uncertain factor. The world's largest contract chipmaker reported a decline in second-quarter profit but said demand is likely to recover during the rest of 2019 particularly from smartphone makers, hampered at present by the impact of a Sino-US trade war. "Although our business continues to be impacted by a global slowing economy ... we have also passed the bottom of the cycle of our business and again began to see demand increasing," Chief Executive Officer and Vice Chairman Chung Ching Wei told analysts during an earnings briefing. Taiwan's supply chain manufacturers have been navigating slowing global demand for smartphones - a primary source of revenue - as well as market disruption stemming from tit-for-tat import tariffs between China and the United States, plus the latter's ban on US companies doing business with Chinese telecoms equipment maker Huawei Technologies Co Ltd. Adding to risk factors, Japan last week tightened curbs on exports of high-tech materials used in smartphone displays and chips to South Korea, home to the world's biggest memory chip makers, Samsung Electronics Co Ltd, and SK Hynix Inc. TSMC Chairman Mark Liu said the dispute is a major uncertainty for the coming months as it is likely to impact technology supply chains, as Japan dominates the market for the materials in question. Earlier, TSMC, a proxy for technology demand as its clients include iPhone maker Apple and chip leader Qualcomm Inc, reported a 7.6% decline in April-June net profit at T$66.77 billion ($2.15 billion), meeting analyst estimates. Revenue rose 3.3% to T$241 billion but fell 1.4% to $7.75 billion in US dollar terms - still topping both the firm's forecast and the average of 23 analyst estimates compiled by Refinitiv. Business in the third quarter will be driven by increased demand for fifth-generation telecommunications (5G) equipment as well as for smartphones spurred by new product launches, and the fourth quarter will be even stronger, Wei said. TSMC forecast a gross profit margin of 46% to 48% for the third quarter, and an operating margin of 35% to 37%, compared with 47.4% and 36.6%, respectively, a year earlier. The chipmaker also said it expected annual capital expenditure for the year to exceed the high end of its earlier forecast of $10 billion to $11 billion due to strong 5G demand. Even so, analysts were cautious about TSMC's growth outlook for the coming months, citing a slower-than-expected introduction of 5G technology and still-tepid demand for smartphones, which they said accounted for nearly half of its first-quarter sales. "With a still-slow demand recovery and excessive inventory, we think wafer orders from fabless companies might remain weak," Fubon Securities analyst Sherman Shang wrote in a research note prior to TSMC's earnings announcement. TSMC's short-term downside, however, could be supported by "major customers' recovery in 2020 from a very low base in 2019, such as Apple," Shang wrote. Indicating evolving market conditions, the spread of accelerating the spread of 5G networks helped Dutch semiconductor equipment maker ASML Holding NV, a supplier to TSMC, beat analysts' second-quarter earnings estimates on Wednesday. Prior to TSMC's announcement, shares in the chipmaker closed up 0.8% versus a 0.25% fall in the wider market. The stock has risen around 13% so far this year.

TSMC expects 5G earnings boost, flags South Korea-Japan spat as risk

The European Union's (EU) powerful antitrust authority launched an in-depth <a href="https://www.wionews.com/world/amazon-workers-in-germany-strike-over-pay-verdi-union-says-236173">investigation into Amazon</a> on Wednesday, amid suspicions the US-based online behemoth misuses merchant data hosted on its website.

The formal investigation opens a new chapter in the European Union's campaign to curtail the dominance of US tech firms with Google, Facebook and Apple also regular targets of regulators in Brussels.

"I have... decided to take a very close look at <a href="https://www.wionews.com/world/amazon-warehouse-workers-in-minnesota-set-walkout-on-prime-day-234450">Amazon's business practices</a> and its dual role as marketplace and retailer (and) to assess its compliance with EU competition rules," the EU's antitrust commissioner Margrethe Vestager said in a statement.

At the heart of the case is Amazon's service to third party merchants who use the world's biggest online retailer to access customers and broaden their reach.

In providing this service, Amazon "continuously collects data about the activity on its platform", the commission said.

Preliminary findings, according to the statement, indicate that Amazon "appears to use competitively sensitive information -- about marketplace sellers, their products and transactions on the marketplace."&nbsp;

The investigation, which has no deadline, is likely to be the final offensive by Vestager against big tech before the end of her current mandate on October 31.

In an email to AFP, Amazon said: "We will cooperate fully with the European Commission and continue working hard to support businesses of all sizes and help them grow."

In some areas, insurgents and religious leaders tell communities that vaccines are a Western conspiracy aiming to sterilise Muslim children, or that such programmes are an elaborate cover for Western or Afghan government spies.

Last year, the Taliban warned the International Committee of the Red Cross (ICRC) that the group would no longer protect its workers.

The threat forced the ICRC to significantly scale back its Afghan operations.

The European Union's (EU) powerful antitrust authority launched an in-depth investigation into Amazon on Wednesday, amid suspicions the US-based online behemoth misuses merchant data hosted on its website.

The European Union's (EU) powerful antitrust authority launched an in-depth investigation into Amazon on Wednesday, amid suspicions the US-based online behemoth misuses merchant data hosted on its website. The formal investigation opens a new chapter in the European Union's campaign to curtail the dominance of US tech firms with Google, Facebook and Apple also regular targets of regulators in Brussels. "I have... decided to take a very close look at Amazon's business practices and its dual role as marketplace and retailer (and) to assess its compliance with EU competition rules," the EU's antitrust commissioner Margrethe Vestager said in a statement. At the heart of the case is Amazon's service to third party merchants who use the world's biggest online retailer to access customers and broaden their reach. In providing this service, Amazon "continuously collects data about the activity on its platform", the commission said. Preliminary findings, according to the statement, indicate that Amazon "appears to use competitively sensitive information -- about marketplace sellers, their products and transactions on the marketplace." The investigation, which has no deadline, is likely to be the final offensive by Vestager against big tech before the end of her current mandate on October 31. In an email to AFP, Amazon said: "We will cooperate fully with the European Commission and continue working hard to support businesses of all sizes and help them grow." In some areas, insurgents and religious leaders tell communities that vaccines are a Western conspiracy aiming to sterilise Muslim children, or that such programmes are an elaborate cover for Western or Afghan government spies. Last year, the Taliban warned the International Committee of the Red Cross (ICRC) that the group would no longer protect its workers. The threat forced the ICRC to significantly scale back its Afghan operations.

European Union launches probe into Amazon's use of merchant data

Apple Inc's top-end iPhones, assembled in India by Foxconn's local unit, are likely to hit Indian stores next month, a source said, potentially helping the tech giant drop prices in the world's second-biggest smartphone market.

Some approvals are pending, but the India-made iPhone XR and XS devices are expected to hit the market by August, the source said, asking not to be named as the matter is not public.

Apple did not immediately respond to a request for comment. Foxconn said it does not comment on customers or their products.

Expanding local assembly will help Apple save on high taxes levied on the import of fully-built devices, as well as meet local sourcing norms for opening its own retail stores in India.

Apple's devices are coveted by millions of Indians, but its premium pricing has limited its market share to a meagre 1 per cent to the gain of rivals such as China's OnePlus.

Reuters had previously reported that the local unit of Hon Hai Precision Industry Co, widely known as Foxconn, would this year begin assembling iPhone X family devices in India's southern Tamil Nadu state.

Cupertino, California-headquartered Apple also assembles the lower-cost SE, 6S and 7 models in India through Wistron Corp's local unit in the tech hub of Bengaluru.

"Local production will give Apple the leeway to play with the margins of their distributors and indirectly price their phones lower," said Rushabh Doshi, a research director at tech consultancy Canalys.

Trade war

Prime Minister Narendra Modi's government has tried to position South Asia's third-biggest economy as a hub for smartphone manufacturing, wooing global players with access to a market with over a billion wireless connections and cheap labour.

That push has met with some success as global smartphone giants including Samsung and China's Oppo have expanded rapidly in India, and contract manufacturers like Foxconn have ramped up domestic operations.

Beyond fulfilling local demand, companies such as Apple could also use India as an export hub to soften the impact of a bruising trade war between the United States and China, according to technology analysts.

Apple cut its fiscal first-quarter sales forecast, blaming slowing iPhone sales in China where uncertainty around US-China trade relations has hurt the economy.

Some of the Wistron assembled iPhone 6s and 7 are being exported from India to markets in Europe, Neil Shah of Hong-King based tech researcher Counterpoint said.

Wistron's India head declined to comment.

Apple Inc's top-end iPhones, assembled in India by Foxconn's local unit, are likely to hit Indian stores next month, a source said, potentially helping the tech giant drop prices in the world's second-biggest smartphone market.

Apple Inc's top-end iPhones, assembled in India by Foxconn's local unit, are likely to hit Indian stores next month, a source said, potentially helping the tech giant drop prices in the world's second-biggest smartphone market. Some approvals are pending, but the India-made iPhone XR and XS devices are expected to hit the market by August, the source said, asking not to be named as the matter is not public. Apple did not immediately respond to a request for comment. Foxconn said it does not comment on customers or their products. Expanding local assembly will help Apple save on high taxes levied on the import of fully-built devices, as well as meet local sourcing norms for opening its own retail stores in India. Apple's devices are coveted by millions of Indians, but its premium pricing has limited its market share to a meagre 1 per cent to the gain of rivals such as China's OnePlus. Reuters had previously reported that the local unit of Hon Hai Precision Industry Co, widely known as Foxconn, would this year begin assembling iPhone X family devices in India's southern Tamil Nadu state. Cupertino, California-headquartered Apple also assembles the lower-cost SE, 6S and 7 models in India through Wistron Corp's local unit in the tech hub of Bengaluru. "Local production will give Apple the leeway to play with the margins of their distributors and indirectly price their phones lower," said Rushabh Doshi, a research director at tech consultancy Canalys. Trade war Prime Minister Narendra Modi's government has tried to position South Asia's third-biggest economy as a hub for smartphone manufacturing, wooing global players with access to a market with over a billion wireless connections and cheap labour. That push has met with some success as global smartphone giants including Samsung and China's Oppo have expanded rapidly in India, and contract manufacturers like Foxconn have ramped up domestic operations. Beyond fulfilling local demand, companies such as Apple could also use India as an export hub to soften the impact of a bruising trade war between the United States and China, according to technology analysts. Apple cut its fiscal first-quarter sales forecast, blaming slowing iPhone sales in China where uncertainty around US-China trade relations has hurt the economy. Some of the Wistron assembled iPhone 6s and 7 are being exported from India to markets in Europe, Neil Shah of Hong-King based tech researcher Counterpoint said. Wistron's India head declined to comment.

Apple's India-made top-end iPhones to hit stores next month: Source

The French parliament on Thursday passed a law taxing internet giants including Apple and Google in&nbsp;defiance of a probe ordered by President Donald Trump that could trigger reprisal tariffs.&nbsp;

The move has reportedly&nbsp;angered the United States and prompted Washington to open an investigation, reported news agency AFP.

The legislation -- dubbed the GAFA tax -- an acronym for Google, Apple, Facebook and Amazon -- was passed by a simple show of hands in the Senate after previously being passed by the National Assembly lower chamber, the report added.

But the French move drew an angry response from Trump even before the legislation was passed, with the president ordering an investigation that the French economy minister said was unprecedented in the history of French-US relations.&nbsp;

The law will levy a 3.0 per cent tax on total annual revenues of the largest tech firms providing services to French consumers.

"The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies," US Trade Representative Robert Lighthizer said in a statement.

But French Economy Minister Bruno Le Maire France rejected the US reaction on Thursday, saying "threats" were not the way to resolve such disputes.

France says the US was unfairly targeting its companies.&nbsp;

(With AFP inputs)

The French parliament on Thursday passed a law taxing internet giants including Apple and Google in defiance of a probe ordered by President Donald Trump that could trigger reprisal tariffs.

The French parliament on Thursday passed a law taxing internet giants including Apple and Google in defiance of a probe ordered by President Donald Trump that could trigger reprisal tariffs. The move has reportedly angered the United States and prompted Washington to open an investigation, reported news agency AFP. The legislation -- dubbed the GAFA tax -- an acronym for Google, Apple, Facebook and Amazon -- was passed by a simple show of hands in the Senate after previously being passed by the National Assembly lower chamber, the report added. But the French move drew an angry response from Trump even before the legislation was passed, with the president ordering an investigation that the French economy minister said was unprecedented in the history of French-US relations. The law will levy a 3.0 per cent tax on total annual revenues of the largest tech firms providing services to French consumers. "The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies," US Trade Representative Robert Lighthizer said in a statement. But French Economy Minister Bruno Le Maire France rejected the US reaction on Thursday, saying "threats" were not the way to resolve such disputes. France says the US was unfairly targeting its companies. (With AFP inputs)

French law taxing US digital giants draws angry response from US President Trump

Apple Inc is one of the world's most valuable company. Last year, its market capitalisation soared to US $1 trillion, making it bigger than the size of the economy of many countries, more than the Budget deficit of United States and the combined net worth of 100 of the world's richest people.

So, when a Pakistani news anchor made a faux pas, comparing Apple with a fruit, it left Twitterati in splits.

The said gaffe happened during a conversation recently. The discussion was about Pakistan's financial condition where a panelist said, "Apple's business alone amounts to more than the whole of Pakistan's annual budget."

Then came the blunder. "Yes, I have heard that even one apple is very expensive," said the anchor, thinking the panelist was talking about the fruit.

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Apple business and types of apple, just some regular tv shows in Pakistan.. <a href="https://t.co/3Sr7IBl7ns">pic.twitter.com/3Sr7IBl7ns</a>
— Naila Inayat नायला इनायत (@nailainayat) <a href="https://twitter.com/nailainayat/status/1146822338236821504?ref_src=twsrc%5Etfw">July 4, 2019</a></blockquote>
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The expert was quick to point out that the anchor had made a mistake, and it was laughingly brushed off. But not on social media. It quickly gained attention on Twitter and tons of reactions.

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Ennu apple khilao
— INDIAN FOOTBALL FANS (@imprasadj) <a href="https://twitter.com/imprasadj/status/1146824027140345856?ref_src=twsrc%5Etfw">July 4, 2019</a></blockquote>
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Hats off to the man!! What control!! Had I been there would have probably fallen off my seat laughing 😂
— Siddhartha Das (@sidharthone) <a href="https://twitter.com/sidharthone/status/1146823793635184641?ref_src=twsrc%5Etfw">July 4, 2019</a></blockquote>
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an apple a day keeps steve jobs away
— Mohammad Ali Tunna (@MdAli10veer) <a href="https://twitter.com/MdAli10veer/status/1146823498138042368?ref_src=twsrc%5Etfw">July 4, 2019</a></blockquote>
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Poor anchor still thinking about grocery after show <a href="https://t.co/wGAwMiVZ4c">pic.twitter.com/wGAwMiVZ4c</a>
— Taya Amritsaria (@TayaAmritsaria3) <a href="https://twitter.com/TayaAmritsaria3/status/1146826679106408448?ref_src=twsrc%5Etfw">July 4, 2019</a></blockquote>
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Pakistan's economic survey, presented last month, revealed that the country grew at an average rate of 3.29 per cent in the fiscal year 2018-19 against an ambitious target of 6.2 per cent set. The government said that burgeoning debt has become a major burden for Pakistan's economy.

Apple Inc is one of the world's most valuable company. Last year, its market capitalisation soared to US $1 trillion, making it bigger than the size of the economy of many countries, more than the Budget deficit of United States and the combined net worth of 100 of the world's richest people.

Apple Inc is one of the world's most valuable company. Last year, its market capitalisation soared to US $1 trillion, making it bigger than the size of the economy of many countries, more than the Budget deficit of United States and the combined net worth of 100 of the world's richest people. So, when a Pakistani news anchor made a faux pas, comparing Apple with a fruit, it left Twitterati in splits. The said gaffe happened during a conversation recently. The discussion was about Pakistan's financial condition where a panelist said, "Apple's business alone amounts to more than the whole of Pakistan's annual budget." Then came the blunder. "Yes, I have heard that even one apple is very expensive," said the anchor, thinking the panelist was talking about the fruit. Apple business and types of apple, just some regular tv shows in Pakistan.. pic.twitter.com/3Sr7IBl7ns — Naila Inayat नायला इनायत (@nailainayat) July 4, 2019 × The expert was quick to point out that the anchor had made a mistake, and it was laughingly brushed off. But not on social media. It quickly gained attention on Twitter and tons of reactions. Ennu apple khilao — INDIAN FOOTBALL FANS (@imprasadj) July 4, 2019 × Hats off to the man!! What control!! Had I been there would have probably fallen off my seat laughing 😂 — Siddhartha Das (@sidharthone) July 4, 2019 × an apple a day keeps steve jobs away — Mohammad Ali Tunna (@MdAli10veer) July 4, 2019 × Poor anchor still thinking about grocery after show pic.twitter.com/wGAwMiVZ4c — Taya Amritsaria (@TayaAmritsaria3) July 4, 2019 × Pakistan's economic survey, presented last month, revealed that the country grew at an average rate of 3.29 per cent in the fiscal year 2018-19 against an ambitious target of 6.2 per cent set. The government said that burgeoning debt has become a major burden for Pakistan's economy.

'Even 1 apple is very expensive': Pakistan anchor's gaffe about Apple Inc leaves Twitter in splits

US-based tech giant <a href="https://www.wionews.com/world/apple-explores-moving-15-30-of-production-capacity-from-china-to-southeast-asia-report-228703">Apple</a> will shift production of its Mac Pro computers to China, said a report by The Wall Street Journal on Friday.

That desktop is the only major Apple device produced in the US. It is produced in Texas.

According to the report, Apple has chosen a Taiwanese contractor, Quanta Computer Inc, to manufacture the $6,000 desktop computer near Shanghai.&nbsp;

The shift comes at amid the escalating trade war between the US and China. US President Trump is threatening to slap tariffs on almost all imports from China, which would raise prices for US consumers.

Mac Pro is a niche product for Apple and not a high volume seller. But the shift could still anger Trump, who has been pressing US companies in general and Apple specifically to make things in America.

Meanwhile, news agency Reuters had reported that earlier this month that the company has asked its major suppliers to asses the cost implications of moving 15-30 per cent of their production capacity from China to Southeast Asia.

Key iPhone assemblers Foxconn, Pegatron Corp, Wistron Corp, major MacBook maker Quanta Computer Inc, iPad maker Compal Electronics Inc, and AirPods makers Inventec Corp, Luxshare-ICT and Goertek have been asked to evaluate options outside of China, Reuters had reported citing Nikkei Asian Review report.

The countries being considered to include Mexico, India, Vietnam, Indonesia and Malaysia. India and Vietnam are among the favourites for smartphones, Nikkei said, citing sources who did not want to be identified as the discussions are private.

US-based tech giant Apple will shift production of its Mac Pro computers to China, said a report by The Wall Street Journal on Friday. That desktop is the only major Apple device produced in the US.

US-based tech giant Apple will shift production of its Mac Pro computers to China, said a report by The Wall Street Journal on Friday. That desktop is the only major Apple device produced in the US. It is produced in Texas. According to the report, Apple has chosen a Taiwanese contractor, Quanta Computer Inc, to manufacture the $6,000 desktop computer near Shanghai. The shift comes at amid the escalating trade war between the US and China. US President Trump is threatening to slap tariffs on almost all imports from China, which would raise prices for US consumers. Mac Pro is a niche product for Apple and not a high volume seller. But the shift could still anger Trump, who has been pressing US companies in general and Apple specifically to make things in America. Meanwhile, news agency Reuters had reported that earlier this month that the company has asked its major suppliers to asses the cost implications of moving 15-30 per cent of their production capacity from China to Southeast Asia. Key iPhone assemblers Foxconn, Pegatron Corp, Wistron Corp, major MacBook maker Quanta Computer Inc, iPad maker Compal Electronics Inc, and AirPods makers Inventec Corp, Luxshare-ICT and Goertek have been asked to evaluate options outside of China, Reuters had reported citing Nikkei Asian Review report. The countries being considered to include Mexico, India, Vietnam, Indonesia and Malaysia. India and Vietnam are among the favourites for smartphones, Nikkei said, citing sources who did not want to be identified as the discussions are private.

Apple to move Mac Pro production to China: Report

Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple's rise to a $1 trillion company, will leave later this year to form an independent design company.

Apple said Ive will continue work on its products at his new venture, but shares fell as much as 1.5% to $197.44 in after-market trading, wiping about $9 billion from the firm's value.

Ive spent nearly three decades at Apple, leading the design of the candy-coloured iMacs that helped Apple re-emerge from near death in the 1990s to the iPhone, regarded by some experts as one of the most successful consumer products of all time.

"It's the most significant departure of somebody who was a core part of the growth story" under Jobs, said Ben Bajarin, analyst with Creative Strategies.

Ive joined Apple in 1992 and led Apple's design teams since 1996. He became chief design officer in 2015.

Ive's new company will be called LoveFrom, the Financial Times reported, quoting Ive as saying it would be based in California "for now." Ive told the newspaper he would work on Apple devices in addition to unspecified "personal passions" and non-Apple projects.

"I have the utmost confidence in my designer colleagues at Apple, who remain my closest friends, and I look forward to working with them for many years to come," Ive said.

Ive's departure comes amid falling iPhone sales, including a record drop in Apple's most recent quarter. Sales of some newer hardware products such as the Apple Watch and its wireless AirPods headphones are expanding, but Apple has turned its attention to growing its services business, which includes Apple Music and iCloud.

Nehal Chokshi, an analyst with Maxim Group, said that despite Ive's key role in Apple history, his departure will not hurt the iPhone maker.

"I would view it as Jony Ive looking to get paid market rates for his design expertise from Apple, with the right to allow other companies - not competitors to Apple - to leverage that expertise," Chokshi said.

Continuity after jobs

Jobs deeply involved himself in Apple's design process, sometimes visiting Apple's design studios daily to offer Ive feedback. Chief Executive Tim Cook, to whom Ive now reports, has not done the same.

After Jobs' death, pundits questioned whether Apple could continue Jobs' pace of new products. Ive became a symbol of continuity, bridging the Jobs and Cook eras.

But Alan Cannistraro, chief executive of online video discovery platform Rheo who previously worked at Apple for a dozen years, said Apple employees knew Ive had taken on fewer day-to-day design duties in the past several years. Around 2015, Cannistraro would often see Ive at a high-end fitness gym on Market Street in San Francisco doing mid-morning workouts.

"When I would see him there, two days a week or more, that just told me he had taken a step back," Cannistraro said.

Ive came to oversee both hardware and software design at Apple, but the company laid the groundwork for his departure over several years. During 2015, Ive handed off some duties to other executives while he finished Apple's new corporate headquarters, Apple Park.

One of those executives was Alan Dye, who Apple on Thursday said will become vice president of human interface design. The company appointed Evans Hankey as vice president of industrial design. Both have "played key leadership roles" in Apple's design team for years, the company said.

Cannistraro, the former Apple employee, said Hankey stood out as "exceptional" among Apple's already strong design teams. Around 2008, as Apple readied new iMacs, Hankey dug in on an idea to make Apple products talk to each other as a home control system.

The effort, which was never released, was not part of Hankey's official duties. But she took an interest anyway because of her “very long-term vision kind of role – looking for seeds that could turn into something bigger, or maybe plant some seeds, too,” Cannistraro said.

The elevation of Dye and Hankey could reignite the connection between Apple's design teams and senior executives. Both will report to Chief Operating Officer Jeff Williams, who will in turn hand off logistics and supply chain duties to Sabih Khan, newly named senior vice president of operations.

Meantime, Williams, who oversaw development of the Apple Watch, "will spend more of his time working with the design team in their studio," Apple said.

Williams has gained clout in Apple's product development process, but that does not necessarily mean he is poised to become chief executive in the near future, Maxim Group's Chokshi said.

"I don't see Tim Cook retiring anytime soon," Chokshi said. 
&nbsp;

Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple's rise to a $1 trillion company, will leave later this year to form an independent design company.

Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple's rise to a $1 trillion company, will leave later this year to form an independent design company. Apple said Ive will continue work on its products at his new venture, but shares fell as much as 1.5% to $197.44 in after-market trading, wiping about $9 billion from the firm's value. Ive spent nearly three decades at Apple, leading the design of the candy-coloured iMacs that helped Apple re-emerge from near death in the 1990s to the iPhone, regarded by some experts as one of the most successful consumer products of all time. "It's the most significant departure of somebody who was a core part of the growth story" under Jobs, said Ben Bajarin, analyst with Creative Strategies. Ive joined Apple in 1992 and led Apple's design teams since 1996. He became chief design officer in 2015. Ive's new company will be called LoveFrom, the Financial Times reported, quoting Ive as saying it would be based in California "for now." Ive told the newspaper he would work on Apple devices in addition to unspecified "personal passions" and non-Apple projects. "I have the utmost confidence in my designer colleagues at Apple, who remain my closest friends, and I look forward to working with them for many years to come," Ive said. Ive's departure comes amid falling iPhone sales, including a record drop in Apple's most recent quarter. Sales of some newer hardware products such as the Apple Watch and its wireless AirPods headphones are expanding, but Apple has turned its attention to growing its services business, which includes Apple Music and iCloud. Nehal Chokshi, an analyst with Maxim Group, said that despite Ive's key role in Apple history, his departure will not hurt the iPhone maker. "I would view it as Jony Ive looking to get paid market rates for his design expertise from Apple, with the right to allow other companies - not competitors to Apple - to leverage that expertise," Chokshi said. Continuity after jobs Jobs deeply involved himself in Apple's design process, sometimes visiting Apple's design studios daily to offer Ive feedback. Chief Executive Tim Cook, to whom Ive now reports, has not done the same. After Jobs' death, pundits questioned whether Apple could continue Jobs' pace of new products. Ive became a symbol of continuity, bridging the Jobs and Cook eras. But Alan Cannistraro, chief executive of online video discovery platform Rheo who previously worked at Apple for a dozen years, said Apple employees knew Ive had taken on fewer day-to-day design duties in the past several years. Around 2015, Cannistraro would often see Ive at a high-end fitness gym on Market Street in San Francisco doing mid-morning workouts. "When I would see him there, two days a week or more, that just told me he had taken a step back," Cannistraro said. Ive came to oversee both hardware and software design at Apple, but the company laid the groundwork for his departure over several years. During 2015, Ive handed off some duties to other executives while he finished Apple's new corporate headquarters, Apple Park. One of those executives was Alan Dye, who Apple on Thursday said will become vice president of human interface design. The company appointed Evans Hankey as vice president of industrial design. Both have "played key leadership roles" in Apple's design team for years, the company said. Cannistraro, the former Apple employee, said Hankey stood out as "exceptional" among Apple's already strong design teams. Around 2008, as Apple readied new iMacs, Hankey dug in on an idea to make Apple products talk to each other as a home control system. The effort, which was never released, was not part of Hankey's official duties. But she took an interest anyway because of her “very long-term vision kind of role – looking for seeds that could turn into something bigger, or maybe plant some seeds, too,” Cannistraro said. The elevation of Dye and Hankey could reignite the connection between Apple's design teams and senior executives. Both will report to Chief Operating Officer Jeff Williams, who will in turn hand off logistics and supply chain duties to Sabih Khan, newly named senior vice president of operations. Meantime, Williams, who oversaw development of the Apple Watch, "will spend more of his time working with the design team in their studio," Apple said. Williams has gained clout in Apple's product development process, but that does not necessarily mean he is poised to become chief executive in the near future, Maxim Group's Chokshi said. "I don't see Tim Cook retiring anytime soon," Chokshi said.

Apple design chief Jony Ive, Steve Jobs' confidant, to leave and start own firm

Apple Inc on Thursday confirmed that the company's streaming music service has more than 60 million subscribers, trailing rival Spotify Technology SA's 100 million premium subscribers.

A company spokesman confirmed the figure that Eddy Cue, senior vice president of services for the iPhone maker, disclosed in remarks made&nbsp;to French publication Numerama in Paris. Apple executives had not disclosed a new number since May 2018, when the company said it had 50 million Apple Music subscribers.

The 60 million figure includes Apple customers who are on a free trial of Apple Music.

In April, Spotify reported it has 100 million "premium" subscribers. Spotify's definition of premium subscribers also includes those on free trials of its paid service so long as the user has entered a payment method such as a credit card.

When including listeners to its ad-supported service, Spotify has 217 million users. Apple and Spotify are locked in an antitrust dispute after Spotify filed a complaint with European regulators in March.

Apple Inc on Thursday confirmed that the company's streaming music service has more than 60 million subscribers, trailing rival Spotify Technology SA's 100 million premium subscribers.

Apple Inc on Thursday confirmed that the company's streaming music service has more than 60 million subscribers, trailing rival Spotify Technology SA's 100 million premium subscribers. A company spokesman confirmed the figure that Eddy Cue, senior vice president of services for the iPhone maker, disclosed in remarks made to French publication Numerama in Paris. Apple executives had not disclosed a new number since May 2018, when the company said it had 50 million Apple Music subscribers. The 60 million figure includes Apple customers who are on a free trial of Apple Music. In April, Spotify reported it has 100 million "premium" subscribers. Spotify's definition of premium subscribers also includes those on free trials of its paid service so long as the user has entered a payment method such as a credit card. When including listeners to its ad-supported service, Spotify has 217 million users. Apple and Spotify are locked in an antitrust dispute after Spotify filed a complaint with European regulators in March.

Apple Music hits more than 60 million subscribers, trailing Spotify

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