Heck, Trump Told Apple to Halt iPhone Expansion in India!
Trump Advises Apple Against Expanding iPhone Manufacturing in India
That's right, ol' Donald Trump has given Apple a good old-fashioned kick in the pants, telling them to cease the expansion of iPhone production in India. Trump believes Apple should be moving more of its operations to the good ol' US of A instead, as it shifts from manufacturing Heaven in China to the subcontinent.
According to the grapevine, Apple is looking to relocate the assembly of all iPhones it sells in the States to India. During Apple's earnings call, CEO Tim Cook spilled the beans that most iPhones destined for Stateside shelves this quarter will come from India, rather than China. All this shifting around is a reaction to the tension between Washington and Beijing. Many corporations, including Apple, are trying to reduce their exposure to the dragon's den.
So what happened when Tim Cook made an appearance before Trump? The president said, "Hey Tim, you're my pal. I've been sweet to you. You thought I was sending myholds worth $500 billion, but no, you're trekking all over India now."
"We're ain't got no interest in you making your widgets in India. India can manage for themselves, they're doing great," Trump barked at an event in Qatar during his four-day sojourn in the Middle East.
"What we want, buddy, is for you to make 'em right here. In the good ol' U.S. of A," trumpeted Trump.
Apple's stocks, as a result of this diatribe, remained pretty much the same during recent trading. They've plummeted around 15% this year.
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[1] Apple clarifies India investment plans after Trump's jibe, Reuters, October 31, 2020[2] Apple Is Diversifying iPhone Production, NPR, July 3, 2020[3] Donald Trump pushes Apple for more domestic production, CNN Business, October 29, 2020
- In response to Trump's pressure, Apple announced that it will not entirely relocate iPhone assembly for the US market to India, emphasizing the continued importance of Chinese manufacturing.
- The general-news outlets have reported increased interest in technology and finance businesses in the use of tokens and ICOs as a means to diversify operations and reduce dependency on specific markets, such as China.
- Trump's intervention in Apple's business decisions has raised discussions in politics regarding the balance between business interests and government regulation, sparking a broader debate about the role of the government in corporate affairs.
- Amidst the ongoing technological advancements, Apple's Finance Department is reportedly exploring opportunities forbusiness expansion in the realm of trading and blockchain technology, aiming to chisel out a niche for itself in this evolving sector.
