According to a report from the Wall Street Journal this morning, Apple has completed the initial batch of assembled-in-India iPhone SE.
According to the report, Wistron, Apple's Taiwanese contract manufacturer, has completed the first ever batch of iPhones that are locally manufactured in India. The assembly was carried out at the Karnataka facility, which I have highlighted on these pages in the past.
The first locally put together iPhones could hit retail stores as early as this week or next, according to the report in the Journal.
The iPhone SE sells in India for around $300 per unit and it is hoped that by assembling locally, and thus avoiding tariffs and taxes on sourced goods from abroad, Apple could lower the price point to between $200-$250 per unit, which would bring it within reach of a huge middle class base of almost 500 million consumers.
The smartphone market in India is growing at 6- to 6.5-times the global average growth of 3% for 2016 and it is vital that Apple start rapidly making in-roads into that market going forward.
According to an anonymous official quoted in the Wall Street Journal article, the Wistron chairman is set to meet Karnataka state officials to discuss plans for setting up an iPhone manufacturing unit there as well.
If Apple is already churning out assembled-in-India phones locally, and if the company can lower prices to make the SE more affordable to the middle class, look for Apple numbers going forward to get higher as well.
It will not happen overnight, but it will not take too long either.
Not that it matters this morning, with the boo-birds and kindly uncles out chest-thumping and wringing their hands and doling out their "sage" words of wisdom ad nauseam given the beat down in the futures right now.
Be very careful. They would like nothing more than for you to give in to the noise and see you parted from your shares if you are invested or prevent you from taking a position.
Apple is indicated lower by $0.95 per share at $154.55 per share in early pre-market trading activity.
(Long aapl, long and short AAPL options)