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JSW Cement, the building materials arm of Sajjan Jindal-led JSW

MUMBAI: A sharp increase in provisions pulled down quarterly profit

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Mahindra & Mahindra Ltd (M&M) on Saturday said it has completed the acquisition of a 58.96% controlling stake in commercial vehicle maker SML Isuzu Ltd from Japan’s Sumitomo Corporation and

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

MUMBAI: A sharp increase in provisions pulled down quarterly profit at Federal Bank, India’s sixth-largest private lender, even as asset quality and core earnings improved. Net profit declined 14.6% to

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

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JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Russia-backed Nayara Energy looks at India’s state-run oil companies to offload petrol, diesel exports Nayara Energy has approached Indian state-run oil marketing companies (OMCs) to offload its export volumes of

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Apple raises trade-in prices for iPhones in China as amid competition

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People stand in front of an Apple store in Beijing, China, on April 9, 2025.

Tingshu Wang | Reuters

Apple on Friday raised the amount of money people can get off their next iPhone in China by trading in their old device, rolling out further incentives to spur demand in a crucial market.

The iPhone 15 Pro Max now has a trade-in value of up to 5,700 Chinese yuan ($791), an increase from 5,625 yuan previously. For reference, a brand new iPhone 15 Pro Max starts at 7,999 yuan in China. The iPhone 15 Pro model can now be traded in for up to 4,750 yuan, up from 4,725 prior.

There are also trade-in value increases across other models too.

Apple has looked to offer discounts over the last year, especially around holiday periods in China. While the latest hikes are not huge, they signal Apple’s ongoing desire to galvanize sales in the world’s second largest economy, where it has faced falling market share and declining sales amid tougher competition from local rivals.

In the first quarter of the year, Apple’s China shipments fell 8% year-on-year, while the company’s share of the smartphone market in the country declined from 15% to 13%, according to data from Canalys. Apple also reported this month that sales in its Greater China region, which includes Hong Kong and Taiwan, fell slightly on an annual basis.

But Apple’s China headache goes beyond sales to questions over its supply chain and products. While U.S. President Donald Trump has paused most tariffs on China for now, there is still an ongoing discussion about whether chips and other electronics may receive a special duty.

Apple, which makes around 90% of its iPhones in China via its manufacturing partner Foxconn, has been looking to move more production to India — though Trump has also voiced displeasure with that. The White House leader said this month that he told Apple CEO Tim Cook he doesn’t want the company building products in India and would rather them make devices in the U.S.

Apple’s biggest challengers number Xiaomi and Huawei, with the latter seeing a stunning revival in its home market over the last 17 months thanks to breakthroughs in chips and aggressive launches of new devices.

Xiaomi, which was the biggest player by market share in China in the first quarter, has meanwhile been ramping up its presence in the high-end device space to directly compete with Apple. On Thursday, the company launched the Xiaomi 15S Pro smartphone that contains an in-house developed chip — something very few companies in the world have managed to do successfully.

Xiaomi has also committed nearly $7 billion to develop more chips over the next 10 years, signaling its ambition to compete with Apple and Huawei.



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