Citi cuts Q1 iPhone production estimates on weak demand

Citi cuts Q1 iPhone production estimates on weak demand

Remember that India has levels of duty for imports, which will be reduced by locally made devices - though we don't know if iPhone components will be manufactured in the country.

Apple's cheaper iPhone models (SE and 6S) are already made in India, but this is the first time newer models, like the X family, will be produced there.

Foxconn will assemble Apple devices at a dedicated unit at its Sriperumbudur facility in Tamil Nadu, Reuters reported on Thursday, citing sources.

Still, it could potentially get Hon Hai to make the older iPhone X version in India in a bid to get a bigger share of the world's fastest-growing major mobile phone market. Moreover, the sources in the state suggest that the announcement might take place on January 24, during the second Global Investor Meet slated to be held in January.

Apple is bringing its iPhone production to India partially thanks to the looming threats and impacts of the China-U.S. trade war.

4 dead in apartment collapse, apparent gas explosion in Russia
The Kremlin said President Vladimir Putin had been "immediately notified of the tragedy in Magnitogorsk ". Emergency officers at the scene of the gas explosion in Russia's Urals city of Magnitogorsk.

It's unclear exactly when Foxconn would begin producing higher-end iPhones in India.

While cumulative iPhone sales for the month remain unclear, one of the more interesting tidbits from the CIRP report is that Apple's 2018 iPhone lineup - spearheaded by the iPhone XR, of course - is apparently doing a solid job of luring over Android users.

Apple did not immediately respond to a Fortune request for comment on the report. But within the product mix that it has got now, with the high-end iPhone XS Max and the iPhone XS, the third, the iPhone XR, appears to be doing well. The overall iPhone production in the fourth quarter of this year will reach 72 million units, lower than the previous forecast of 77 million units, mainly because the new iPhone demand is quite low.

This made sense geographically as India sales are now driven by models including the iPhone 8 and older.

But despite these developments, Apple would be concerned about the declining sales of iPhones overall.

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