عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

Apple CEO Meets India PM Modi, Commits to Growth and Investment

Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023. (Reuters)
Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023. (Reuters)
TT
20
TT

Apple CEO Meets India PM Modi, Commits to Growth and Investment

Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023. (Reuters)
Apple CEO Tim Cook gestures during the inauguration of India's first Apple retail store in Mumbai, India, April 18, 2023. (Reuters)

Apple Inc Chief Executive Officer Tim Cook on Wednesday committed to growth and investment across India in meeting with the country's prime minister, Narendra Modi, in New Delhi.

Cook is on a visit to India this week and inaugurated the iPhone maker's first retail store in the country on Tuesday in Mumbai. Apple will also open a retail store in New Delhi on Thursday.

"We share your vision of the positive impact technology can make on India's future — from education and developers to manufacturing and the environment, we're committed to growing and investing across the country," Cook wrote on Twitter and shared a picture of him shaking hands with Modi.

In response, the Indian PM tweeted that it was an "absolute delight" to meet Cook.

"Glad to exchange views on diverse topics and highlight the tech-powered transformations taking place in India," Modi said.

Cook's visit to India underscores Apple's growing ambitions for the country, where despite having just a 3% market share the company has been expanding iPhone assembly via contract manufacturers, and also boosting its exports.

Most Viewed

 
Technology

Chinese Tech Giant Huawei Says Profits Fell 28% Last Year

(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
TT
20
TT

Chinese Tech Giant Huawei Says Profits Fell 28% Last Year

(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT
(FILES) A Huawei logo is seen at the Mobile World Congress (MWC) in Shanghai on June 26, 2024. (Photo by AFP) / China OUT

Chinese smartphone maker giant Huawei said Monday that profits fell 28 percent last year as it faced international economic uncertainty and weak consumption at home.

The Shenzhen-based company has been at the center of an intense standoff between China and the United States after Washington warned its equipment could be used for espionage by the Chinese government, an allegation Huawei denies.

Sanctions since 2019 have cut the firm's access to US-made components and technologies, forcing it to diversify its growth strategy.

The company announced Monday that it made a net profit of 62.6 billion yuan ($8.6 billion) last year, down from 87 billion yuan in 2023.

Revenue rose 22 percent on-year -- marking a third successive increase after a sharp drop in 2021 during the pandemic.

Its 862.1 billion yuan in revenue was the highest since the figure surpassed 890 billion yuan in 2020.

The results were "in line with forecast", the company's rotating chairwoman Sabrina Meng said in a statement, according to AFP.

Employees "banded together to tackle a wide range of external challenges", Meng said, adding that the firm was "firmly committed to its quality goals and will keep honing quality as a competitive edge".

US sanctions have since 2019 cut Huawei off from global supply chains for technology and US-made components, a move that initially hammered its production of smartphones.

Last year, the company unveiled its first smartphone equipped with a fully homegrown operating system, a test of its ability to challenge the dominance of Western juggernauts.

It also released the world's first triple-folding phone, launched hours after its US rival Apple lifted the curtain on its newest iPhone.

Apple remains popular among Chinese consumers but has ceded ground to domestic players such as Huawei in recent years.

Huawei remains one of the world's leading equipment manufacturers for 5G, the fifth generation of mobile internet, and has been involved in infrastructure projects in numerous countries.