Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Apple India plans to halve the credit period it gives retailers to seven days and slash margins by 0.5-1 percentage point, it said in a trade advisory, seemingly taking advantage of a surge in iPhone sales to assert itself.
Sales of its smartphones doubled in India in the October-December quarter to a record five lakh from a year earlier, said industry executives. Apple began India sales of the iPhone 6 and 6 Plus with bigger screens than previous models in October.
The advisory is aimed at standardizing trade terms, boosting Apple’s profitability and reducing the scope of any predatory discounting by e-commerce firms, which the company considers to be disruptive of pricing and demand.
“Apple and its distributors have informed the trade that improvements in cash flow by cutting credit period and retailer margins will help them to invest more in consumer offers like EMI schemes,” said the CEO of a leading electronics retailer, requesting anonymity. “It has also told its trade partners that they don’t have to invest in store-level marketing, which will be done by them.” Original post at ET Telecom