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Time of India
13 hours ago
- Business
- Time of India
Foxconn looks to set up new Tamil Nadu unit to make iPhone enclosures
Taiwan's Foxconn is eyeing manufacturing iPhone enclosures in India and is looking at setting up a new unit within the ESR Industrial Park at Oragadam in Tamil Nadu for this purpose, people aware of the developments told ET. This would mark the Taiwanese contract manufacturer's foray into making enclosures in India, something that only Tata Electronics has been doing so far locally. Until now, Foxconn has focused on iPhone assemblies in India, harnessing its Sriperumbudur facility. ETtech by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: 1 simple trick to get all TV channels Techno Mag Learn More Undo However, the company is rapidly expanding the scope of work through its upcoming plant in Devanahalli, near Bengaluru. In addition to iPhone assembly, Foxconn also has a new unit in Hyderabad that is assembling AirPods. "Foxconn plans to start making enclosures in Tamil Nadu as they deepen their footprint in the country," one person cited above said. "Construction has begun for their enclosures unit at the industrial park. This will be a separate unit close to their upcoming display module assembly plant which is in advanced stages in the same industrial park." Live Events ETtech Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Analysts said Foxconn's entry into this space shows that Apple is looking to diversify its suppliers in India, much like in China where it has multiple vendors for different components. "This aligns well with Apple's broader strategy to derisk and diversify its supply chain," said Prabhu Ram, vice president, industry research group, CyberMedia Research. "As India emerges as a lynchpin in Apple's growth momentum — with early signs of an end-to-end manufacturing ecosystem taking shape — it is a natural progression for Foxconn to expand its capabilities and geographic presence by manufacturing enclosures." Queries sent to Foxconn and Apple remained unanswered as of press time Thursday. Sourcing depth Neil Shah, vice president, Counterpoint Research, also said Apple globally sources enclosures from multiple players and Foxconn is one of them. Hence, it was natural for Foxconn to diversify the production in India, Shah said. "This gives Apple more leverage and also provides Foxconn with ease of integration and boosts value addition," he said. "This improves supply chain effectiveness for Foxconn as well as Apple." He added that it was difficult to quantify value addition individually but for Apple specifically, Foxconn's value addition would be under 10%. Further, he said enclosures constitute a small percentage of Apple's Bill of Materials (BoM), roughly about 2–3%. So Foxconn's foray into enclosures will not significantly add to their value addition in percentage terms. It is, however, a significant move as Apple gradually increases its manufacturing presence in India. ET was the first to report on September 25 last year that Foxconn was looking to set up an assembly unit for smartphone display modules in Tamil Nadu, making it the first such facility catering to Apple. Later, on October 8, the Tamil Nadu cabinet cleared a Rs 13,180 crore investment by Yuzhan Technology (India), which is a unit of Foxconn. Sources had said at the time that Foxconn had picked up about 500,000 square feet at a plug and play facility at the ESR Oragadam Industrial & Logistics Park, which is right next to their smartphone assembly unit near Chennai. They added that the maker of the iconic iPhone is leaning in for a model wherein even other contract manufacturers — Pegatron or Tata Electronics, for instance — can use components from this unit rather than import modules that are assembled in China. On May 19, Foxconn said it was investing an additional $1.5 billion (about Rs 12,800 crore) in this unit via a London Stock Exchange filing. All of this expansion news comes on the back of Apple CEO Tim Cook's recent statements that India will become the primary manufacturing hub for iPhones sold in the US. "For the June quarter, we do expect the majority of iPhones sold in the US will have India as their country of origin," Cook said during Apple's Q1 earnings call on May 1. Tariff tribulations US President Donald Trump, however, has not taken kindly to Apple expanding its presence in the country and even threatened to have the company pay a 25% tariff if phones sold in the US were not made in the US on May 23. This tariff threat came a week after he said he had told Apple CEO Tim Cook not to build in India. "I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a tariff of at least 25% must be paid by Apple to the US,' Trump wrote in a post on Truth Social. Foxconn plans for expansion, however, continue. The company has a huge factory coming up in Bengaluru and has a new unit in Hyderabad that is targeting AirPods — showing that the company is broadening its portfolio and venturing into other areas of production in India. ET had reported on March 30 that Foxconn is targeting producing 25-30 million iPhones out of their India facilities, which is more than double their production number from last year, as per sources.
Yahoo
6 days ago
- Climate
- Yahoo
Severe frost alert for Aussie farmers
A severe weather warning has been issued for Australia's farmers as much of the nation suffers through another cold June day. The Bureau of Meteorology sounded the alarm for farmers in NSW and South Australia warning icy temperatures could impact their livestock. The BoM's warning is for those living in the Northern Tablelands, South West Slopes and Snowy Mountains forecast districts of NSW. 'Sheep graziers are warned that cold temperatures and northerly winds are expected during Saturday and Sunday,' BOM said. 'There is a risk of losses of lambs and sheep exposed to these conditions'. It was a similar message for farmers in South Australia, including parts of the Mount Lofty Ranges district, who will also experience icy conditions with risk to lambs and sheep. Chilling start to winter Millions of Aussies have shivered through a cold snap that started across the King's Birthday long weekend. The mercury plunged in NSW, Victoria, South Australia and Tasmania before the system moved north hitting the sunshine state. Temperatures reached near record breaking lows in southeast Queensland on Friday, with the mercury dropping 5 to 8 degrees Celsius below average. Friday was the coldest June day in the Brisbane CBD since 2002, warming to just 5.2 degrees. Not only did the Brisbane freeze, temperatures dropped into the negative further west in the state with Ipswich suburb Amberley recording a low of -1.6 degrees while Oakey in Toowoomba fell to -5.1 degrees. Sky News Australia's Kaiser Shields said there is a chance of frost in southern Queensland until Monday when warmer weather and higher humidity sweeps across the state. Will the cold weather last? Despite a cold start to the year, the Bureau of Meteorology is actually predicting a mild and wet winter over the next few months. Every state and territory is expected to have above average temperatures with Sydney, Perth and Melbourne having more than a 50 per cent chance of recording unusually high maximum temperatures from June to August. BOM also says there will be warmer than average nights across Australia, with an increased chance of unusually high overnight temperatures. But in return for the slightly warmer temperatures it will be a wet winter. 'Rainfall is likely to be above average for much of Australia, except in parts of the southeast and southwest,' BOM wrote.
Perth Now
6 days ago
- Climate
- Perth Now
Severe frost alert for Aussie farmers
A severe weather warning has been issued for Australia's farmers as much of the nation suffers through another cold June day. The Bureau of Meteorology sounded the alarm for farmers in NSW and South Australia warning icy temperatures could impact their livestock. The BoM's warning is for those living in the Northern Tablelands, South West Slopes and Snowy Mountains forecast districts of NSW. 'Sheep graziers are warned that cold temperatures and northerly winds are expected during Saturday and Sunday,' BOM said. 'There is a risk of losses of lambs and sheep exposed to these conditions'. Snow near Orange, NSW on June 9, 2025. Source: @printhiewine / Instagram. Credit: Supplied Queensland is in the middle of a cold snap that started on Thursday. WeatherWatch Credit: Supplied It was a similar message for farmers in South Australia, including parts of the Mount Lofty Ranges district, who will also experience icy conditions with risk to lambs and sheep. Chilling start to winter Millions of Aussies have shivered through a cold snap that started across the King's Birthday long weekend. The mercury plunged in NSW, Victoria, South Australia and Tasmania before the system moved north hitting the sunshine state. Residents in Bondi were rugged up during the King's long weekend. NewsWire / Damian Shaw Credit: News Corp Australia Temperatures reached near record breaking lows in southeast Queensland on Friday, with the mercury dropping 5 to 8 degrees Celsius below average. Friday was the coldest June day in the Brisbane CBD since 2002, warming to just 5.2 degrees. Not only did the Brisbane freeze, temperatures dropped into the negative further west in the state with Ipswich suburb Amberley recording a low of -1.6 degrees while Oakey in Toowoomba fell to -5.1 degrees. Sky News Australia's Kaiser Shields said there is a chance of frost in southern Queensland until Monday when warmer weather and higher humidity sweeps across the state. Will the cold weather last? Despite a cold start to the year, the Bureau of Meteorology is actually predicting a mild and wet winter over the next few months. Every state and territory is expected to have above average temperatures with Sydney, Perth and Melbourne having more than a 50 per cent chance of recording unusually high maximum temperatures from June to August. BOM also says there will be warmer than average nights across Australia, with an increased chance of unusually high overnight temperatures. But in return for the slightly warmer temperatures it will be a wet winter. 'Rainfall is likely to be above average for much of Australia, except in parts of the southeast and southwest,' BOM wrote.
Time of India
13-06-2025
- Business
- Time of India
Bank of Maharashtra slashes retail loan rate by up to 50 bps
NEW DELHI: State-owned Bank of Maharashtra on Thursday said it has reduced its interest rate by up to 50 basis points on retail loans, including home, car, education and other loans linked with Repo Linked Lending Rate. The interest rate reduction by Pune-based lender is in line with the rate moderation done by RBI last week and the new rates are effective from June 10. With the rate cut, its home loan now starts from 7.35 per cent and car loan from 7.7 per cent, which is among the lowest interest rates in the banking industry, BoM said in a statement. This benefit of reduced interest rates reflects the bank's commitment to offer best financing solutions to all its customers and help them fulfil their dreams, it said. In the current interest rate landscape, the bank is making retail loans cheaper to bring in cheer among its customers, it added. Meanwhile, Bank of Baroda (BoB) also reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across various tenors from one month to one year. Following the RBI action, many banks have slashed lending rate, and remaining will follow suit soon. On Friday, the RBI slashed benchmark interest rate by a larger-than-expected 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis points to 3 per cent in tranches that will add Rs 2.5 lakh crore to already surplus liquidity in the banking system.
Time Out
04-06-2025
- Climate
- Time Out
Australia's ski seasons are melting away – and could disappear completely by 2050
Reporting live from Sydney, I can confirm that winter is well and truly here. The actual temperature currently reads a drizzly 12 degrees, but my weather app says it 'feels like' a frosty four – which justifies me busting out my puffer jacket for its seasonal debut. But while the chill is real, it's not all snowflakes and rainbows – especially for Australia's ski fields. The past two winters have been incredibly disappointing for snow enthusiasts, with warm temperatures delaying the start of the season and rainy weather forcing Australia's top ski resorts to shut early. In fact, 2023 and 2024 were the hottest Aussie winters in history – and with more above-average temperatures on the horizon, things aren't looking good for our ski fields. What to expect for Australia's 2025 snow season? The Bureau of Meteorology (BoM) has forecast unusually high daytime temperatures across southern and eastern Australia, right where our ski fields sit. David Karoly, Professor Emeritus at the University of Melbourne and Councillor at Climate Council of Australia, says, 'We can also expect warmer-than-average nights, which makes it hard for snow to form and settle. It also means fewer nights with good conditions for snow-making overnight.' While the BoM predicts rainfall will return to normal following droughts in southeastern Australia, above-average temperatures could see precipitation in the mountains fall as rain, not snow, melting the existing snow base faster or washing it away entirely. Professor Karoly warns that this trend will continue in the years to come, "We have had declines of maximum snow depth and decreasing season length at Australian ski resorts reported for over 30 years… The declines are greatest at lower elevation resorts and on lower elevation slopes, where the temperatures are higher and the melting is faster.' Can artificial snow save Australia's ski industry? Australia's ski fields have become increasingly reliant on machine-made snow, with all Aussie ski resorts except Mount Stirling currently using some level of snowmaking to improve the quality and length of the season. While it's a temporary fix, experts warn artificial snow is not a sustainable solution – for two main reasons. Firstly, the climatic conditions required to produce the snow are becoming less reliable due to climate change. Artificial snow only works when it's cold enough that the snow doesn't melt, when there's enough humidity in the air and when there's lots of water – something that's becoming increasingly scarce in the southern Alps. On top of that, there are significant water and electricity costs associated with snowmaking. For perspective, covering the equivalent of an AFL stadium would require 1 million litres of water, with billions invested in machine-made snow across the country. Are Australia's ski resorts at risk of closing for good? The sad reality is that Australia's ski resorts won't be economically viable if they depend on natural snowfall alone. Dr Lily O'Neill, Director of Protect Our Winters Australia, explains, 'Future generations of Australians will know skiing, but not to the same extent as we do today. The more we get on with cutting climate pollution, largely by continuing to move away from the burning of fossil fuels like coal and gas, the better chance future generations will have at experiencing skiing here at home.' What will Australia's snow seasons look like in 2050? According to Our Changing Snowscapes – an Australian-first report exploring climate change's impacts on the Australian Alps – there may be no reliable ski areas left in Australia by 2050. Ski seasons are forecast to shrink by between 44 and 55 days (42 to 52 per cent), and the amount of machine-made snow needed to sustain a 100-day ski season (the minimum days for a ski field to remain viable) is predicted to increase by 71 to 98 per cent in the 2050s. However, we're not giving up all hope just yet. Dr O'Neill adds, 'Enjoying ski seasons later into this century should still be possible if the Albanese government takes action to keep us in a low emissions scenario, particularly for higher-altitude resorts, like Hotham and Thredbo.' Those that are at lower altitudes are particularly vulnerable and already feeling the impacts of climate pollution, and planned adaptation needs to start happening now in these communities.' Dr O'Neill is also calling for more year-round investment to help ski resorts diversify beyond snow activities. Professor Karoly agrees, 'Tourism operators may be able to adapt by switching to promoting other activities in spring and summer, such as mountain walking, horse riding and trail biking.' You can see what's in store for Australia's snow seasons and what's needed to protect them by reading the full report here.
