India cuts import tax on smartphones in boost for Apple
NEW DELHI - India announced it will cut import duty on mobile phones and some key parts to 15% from 20%, a move that will directly benefit Apple and mobile chargers is in the"interest of consumers."
Although Apple has boosted its local production in India through contract manufacturers such as Foxconn and India's Tata Group, it still imports some of its high-end Pro and Pro Max iPhone models into the country. India's deputy IT ministry in January privately argued for a reduction on import taxes on mobile phones, saying the country risks losing out to China and Vietnam in the race to become a major smartphone export hub and must"act fast" to lure global companies with lower tariffs, Reuters has reported.
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