Business
Apple Inc Bets Big On India As It Opens First Flagship Store
NEW DELHI, India — Apple Inc. launched its first flagship shop in India on Tuesday, highlighting the company’s expanding ambitions to expand in the nation, which it also aims to transform into a potential manufacturing hub.
Tim Cook, the company’s CEO, posed for selfies with a few of the 100 Apple fans who had gathered outside the vast 20,000-square-foot store in India’s financial hub, Mumbai, whose design was inspired by the city’s famed black-and-yellow cabs. A second store will open in the national capital of New Delhi on Thursday.
“India has such a beautiful culture and incredible energy, and we’re excited to build on our long-standing history,” Cook stated.
The IT behemoth has been in India for almost 25 years, distributing its wares through authorized stores and a website launched a few years ago. However, regulatory issues and the epidemic hampered its intentions to construct a flagship store.
According to Jayanth Kolla, an analyst at Convergence Catalyst, the news outlets clearly show the company’s determination to invest in India, the world’s second-largest smartphone market, where iPhone sales have steadily increased. The outlets demonstrate “how much India matters to the company’s present and future,” he added.
India’s sheer size is especially appealing to the Cupertino, California-based corporation.
Around 600 million of India’s 1.4 billion people use cellphones, “which means the market is still under-penetrated and the growth prospect is huge,” said Neil Shah, vice president of research at technology market research firm Counterpoint Research.
According to Counterpoint data, the Silicon Valley business increased its share of the country’s smartphone market from 2% to 6% between 2020 and 2022.
Nonetheless, the iPhone’s high price puts it out of reach for most Indians.
Instead, iPhone sales in India have prospered within a sliver of upper-middle-class and rich Indians with disposable incomes, a group that Shah claims is growing. According to Counterpoint Research, Apple owns 65% of the “premium” smartphone market, with prices starting at 30,000 rupees ($360).
Apple said in September that it would begin manufacturing the iPhone 14 in India. The announcement was welcomed as a victory for Prime Minister Narendra Modi’s government, which has advocated for increased domestic manufacturing since his election in 2014.
Apple began manufacturing in India with the iPhone SE in 2017 and has since produced various iPhone models nationwide.
Contractors with facilities in China produce the majority of Apple’s smartphones and tablets, but the company began considering transferring some manufacturing to Southeast Asia or other locations after repeated shutdowns to combat COVID-19 affected its worldwide product flow.
“Big companies got a jolt, and they realized they needed a backup strategy outside of China — they couldn’t risk another lockdown or any geopolitical rift affecting their business,” Kolla explained.
The difficulty for Apple is that raw materials are still coming from outside India.
According to Counterpoint Research, India now produces nearly 13 million iPhones per year, up from fewer than 5 million three years ago. This equates to around 6% of all iPhones produced globally – a pittance compared to China, which still produces around 90%.
Last week, India’s Commerce Minister Piyush Goyal stated that the government was in constant contact with Apple to boost their business in India and that the corporation intended to have 25% of its global output come from India within the next five years.
According to Shah of Counterpoint, the difficulty for Apple is that raw materials are still coming from outside India, so the tech company will need to either find a local source or bring their suppliers, who are based in countries like China, Japan, and Taiwan, closer to push up production.
Nonetheless, he is optimistic that this aim can be accomplished, especially given India’s lower labor costs and the government’s enticing subsidies to stimulate local production.
“Everything is about timing for Apple.” They will only enter a market with full force once they are sure of their chances. “They see the opportunity here today — it’s a win-win situation,” Shah explained.
SOURCE – (AP)
Business
A&F Launches Investigation Into Ex-CEO Sexual Misconduct Claims
Abercrombie & Fitch (A&F) has announced that it is investigating allegations against its former CEO.
Mike Jeffries has been accused of exploiting men at international sex events that he hosted.
An investigation by the BBC revealed that an organized network used a middleman to recruit young adult males for events with Mr. Jeffries and Mr. Smith’s partner, Matthew Smith, with some alleging abuse.
Mr. Jeffries and Mr. Smith did not respond to comment requests.
Since being contacted by the BBC, A&F, which operates approximately 850 stores worldwide, including its Hollister brand, has hired an “outside law firm to conduct an independent investigation” into the allegations. It stated that it was “appalled and disgusted” by the behavior in question.
There is no evidence that the company was aware of the BBC’s discovery of allegations of sexual exploitation at sex events.
It has previously referred to Mr. Jeffries as its modern-day founder, as he transformed the Ohio-based brand from a failing heritage outfitter to a multibillion-dollar adolescent retailer during the 1990s. According to company filings at the time, he departed with a retirement package valued at approximately $25 million (£20.5 million) in 2014 due to declining sales.
According to BBC Panorama, in the months preceding Mike Jeffries’ departure, a pension fund invested in A&F brought legal proceedings alleging that the company had paid out settlements in response to allegations of “misconduct” by its then-CEO.
Abercrombie & Fitch (A&F) has announced that it is investigating allegations against its former CEO.
A source requesting anonymity stated that he had seen internal documents documenting payoffs for staff and contract employees complaining about Mr. Jeffries’ behavior. According to the source, the documents he reviewed did not disclose the nature of the complaints.
BBC Panorama inquired if the complaints were sexual, but A&F refused to respond.
After the BBC published its investigation into allegations of exploitation at sex events on Monday, A&F stated that it “was unaware of the sexual misconduct allegations” and that its new leadership had transformed the company into “the values-driven organisation we are today.”
Mr. Jeffries allegedly exploited men for sex at events he hosted in his New York residences and luxurious hotels around the globe, including in London, Paris, Venice, and Marrakech, according to a two-year BBC investigation.
Between 2009 and 2015, twelve men described attending or organizing events featuring sex acts for the 79-year-old fashion mogul and his 60-year-old British companion, Mr. Smith.
The eight men who attended the events stated that a man with a missing snout and a snakeskin patch recruited them. The BBC has identified him as James Jacobson.
Abercrombie & Fitch (A&F) has announced that it is investigating allegations against its former CEO.
Half of the men who spoke to the BBC about their recruitment claimed they were initially misled about the nature of the events or were not informed that sex was involved. Others stated that they knew the events would be sexual, but this was not precisely what they expected. Everyone was compensated.
Mr. Jacobson refuted any wrongdoing and stated that all participants entered the events “with their eyes open.”
Warning: This story contains explicit sexual content
Men who attended these occasions told the BBC Mr Jeffries and Mr Smith would engage in sexual activity with about four men – or “direct” them to have sex with each other. The men reported that personnel at the event gave them envelopes containing thousands of dollars in cash.
David Bradberry, who was 23 then, said he was introduced to Mr. Jacobson in 2010 by an agent who described him as the gatekeeper to “the owners” of A&F, but no mention of sex was made. During their meeting, he stated that Mr. Jacobson suggested that Bruce Weber, A&F’s official photographer at the time, capture his photograph.
Then, Mr. Bradberry stated, “Jim made it clear that I would not meet with Abercrombie & Fitch or Mike Jeffries unless I agreed to oral sex with him.” He described his condition as “paralysed.”
In retrospect, he acknowledges that this incident should have been a “red flag,” but he viewed Mr. Jacobson as “just a creepy old man I wouldn’t have to see again.”
Later, Mr. Bradberry accepted an invitation to a daytime event at Mr. Jeffries’ former Hamptons property on New York’s Long Island, which was sold for $29 million. He claimed to have discussed his aspirations to become an A&F model with Mr. Jeffries and Mr. Smith. Then, he claimed, Mr. Jeffries held “poppers” (a drug that can induce a strong head rush and disorientation) under his nose and later engaged in sexual activity with him.
Abercrombie & Fitch (A&F) has announced that it is investigating allegations against its former CEO.
Signing a nondisclosure agreement “felt like intimidation” – David Bradberry.
In 2011, Barrett Pall reported feeling pressured to attend an event in the Hamptons. When he was 22, he claimed that an older model who received a referral fee recruited him as his “replacement” for “some sort of sexual experience” with the couple. He stated that he consented because the older model had helped him financially and felt indebted to him.
Mr. Pall reported that the elder model told him, “You don’t have to do anything you don’t want to do,” but suggested, “The further you go, the better,” alluding to career opportunities. He felt compelled to “perform” when he arrived at the event. Mr. Pall stated at one point that Mr. Jeffries was molesting him from behind.
“I believe this experience has broken me,” he said. “I believe that this robbed me of any remaining innocence. It affected my mental state. But with the vocabulary I possess now, I can inform you that I was taken advantage of.”
Barrett Pall stated that his experience left him feeling devastated.
In 2011, dozens of males were flown to Marrakesh for the largest event described to the BBC, which took place in a private villa at a five-star hotel. According to the BBC, Mr. Jeffries and Mr. Smith are also guests. Alex, whose name has been changed to protect his identity, explained that he was a struggling model supporting his family back home when he was recruited as a performer for the event, where he anticipated having to strip.
Alex, a straight man in his twenties at the time, claimed he auditioned for Mr. Jacobson, who praised his dancing but demanded he “finish the job” by engaging in oral sex with him. “I had debt, and I wanted to support my family,” Alex explained. “I completed the task while feeling disgusted.”
Alex flew to Marrakesh for the event a few weeks later, believing that “the hardest part had been completed.” However, moments into his performance, Mr. Jeffries allegedly attempted to kiss him. “I attempted to participate without offending him. “I was extremely uneasy,” Alex stated.
Eventually, he said he hid in a back room and fell unconscious. Alex stated that he awoke with a prophylactic in his stomach and feared that the champagne he was given earlier had been tampered with.
“After putting the pieces together, I believe there is a strong possibility that I was drugged and assaulted. “I will likely never know for certain what happened,” he said.
Abercrombie & Fitch (A&F) has announced that it is investigating allegations against its former CEO.
A civil attorney who reviewed the BBC’s evidence recommended that US prosecutors investigate whether what these “brave men” describe could constitute sex trafficking. Under US law, sex trafficking includes using force, fraud, or coercion to induce an adult to travel to another state or country in exchange for sexual services.
Brad Edwards stated, “There may have been evidence of coercion for some of the men, while others may not have felt the coercive tactics.”
He added that Mr. Jeffries and Mr. Smith could contend that the men were consenting adults and that the fact that some of them had engaged in commercial sex in the past was “a factor”; however, he stated that past actions were “really irrelevant” when determining whether a particular commercial sex act was the result of force, fraud, or coercion.
“Given the stories of these courageous men who have come forward, I believe it is vital that federal prosecutors investigate this case,” Mr. Edwards said, adding that prosecutors faced a “very high” burden of proof.
Over several weeks, the BBC made repeated attempts via letter, email, and phone to contact Mr. Jeffries and Mr. Smith, inviting them to respond to a detailed list of allegations and ensuring that they were fully aware of the allegations against them. There has been no response.
Mr. Jacobson, the 70-year-old intermediary, stated his attorney in which he took offense at the suggestion of “any coercive, deceptive, or forceful behavior on my part” and stated that he had “no knowledge of such conduct by others.”
He stated that he did not recall promising modeling opportunities. “Every encounter I had was entirely voluntary and never coercive,” he said. Everyone I’ve interacted with who attended these events did so with wide-open eyes.
SOURCE – (BBC)
Business
TikTok Testing Out 1st Advert-Free Monthly Subscription
TikTok is experimenting with a new monthly subscription to eliminate video-sharing platform advertisements.
The BBC has learned that the Chinese company is testing the service in an English-speaking market outside the United States, but the company has declined to comment on where.
The tryout price for the subscription is $4.99 (£4.13).
Meta reportedly considers ad-free subscriptions for EU residents to comply with the bloc’s advertising regulations.
TikTok displays personalized advertisements to all users over the age of 18 at this time.
TechCrunch, a news website, reported that the test is on a limited scale, and there is no assurance that a global subscription rollout will occur.
YouTube and X, formerly Twitter, and Tiktok are among the sites that already charge a monthly fee for fewer or no advertisements.
TikTok is experimenting with a new monthly subscription to eliminate video-sharing platform advertisements.
According to the Wall Street Journal, Meta owns Facebook and Instagram and plans to charge European users who opt out of receiving personalized advertisements on its platforms.
Meta reportedly informed EU regulators that users would be charged approximately €10 (£8.68) per month to use Instagram or Facebook without personalized advertisements on desktop and €13 (£11.28) per month on mobile.
A spokesperson for Meta told the BBC, “Meta believes in the value of free services supported by personalized advertisements.” Nonetheless, we continue investigating potential solutions to ensure compliance with evolving regulatory requirements. No further information is available at this time.”
In response to an EU ruling, the company announced in August that it intended to modify its terms and obtain users’ consent before displaying advertisements based on their personal information.
In January, it was fined €390 million (£346 million) by the Irish Data Protection Commission.
The regulator stated that Facebook and Instagram could not “force consent” by requiring users to accept how their data is utilized or quit the platform.
SOURCE – (BBC)
Business
Disney Plus Announces Crackdown On Password Sharing In Canada In 2023
NEW YORK — Today, password-sharing crackdowns are becoming increasingly prevalent in the streaming industry. In addition, Disney Plus follows suit.
In an email sent to Canadian users this week, Disney announced restrictions on the “ability to share your account or credentials outside of the household.”
The updated Canadian Subscriber Agreement for Disney Plus stipulates that users may only share a subscription within their domicile if permitted by their account tier and that violations may result in Disney Plus limiting or terminating service. According to the streamer’s help center, “Household” refers to the collection of devices associated with a subscriber’s principal residence and used by the residents.
These password-sharing restrictions are part of multiple revisions to the Disney Plus Subscriber Agreement that will go into effect on November 1 for most Canadian users. According to this week’s email, annual subscribers in Quebec may see the changes a bit later, depending on their billing cycle, while users who alter their plan before November 1 will see the changes take effect immediately.
As previously disclosed in August, Disney Plus will launch its ad-supported tier offerings in Canada and select European markets on November 1. The ad-supported tier of Disney Plus has been available in the U.S. since December 2022.
Disney Plus Announces Crackdown On Password Sharing In Canada
When contacted by The Associated Press, a Disney Plus spokesperson declined to comment on whether similar domestic restrictions could be anticipated in countries other than Canada.
In a recent earnings call, Walt Disney Co. CEO Bob Iger pledged to make the company’s streaming services profitable, notably through an October price increase on its ad-free Disney+ and Hulu plans in the U.S. and a restriction on password sharing that is expected to last through 2019.
At the time, Iger did not elaborate on the password-sharing crackdown beyond stating that Disney could reap some benefits in 2024, although he added that the work “might not be completed” by then and that Disney could not predict how many password-sharing users would switch to paid subscriptions.
New restrictions on streaming extend far beyond Disney. Netflix, for instance, made headlines when it began clamping down on password sharing. Freeloading viewers are now required to open their accounts in the United States unless a subscriber with a standard or premium plan agrees to pay a $8 monthly surcharge to enable more people from different households to watch.
SOURCE – (AP)
-
Business5 months ago
Oprah Tells Class Of 2023 To Follow ‘Still, Small Voice’
-
Celebrity5 months ago
Harry Potter’s Miriam Margolyes Hospitalized With Chest Infection
-
News5 months ago
Strong Quake In Central Japan; 1 Dead, More Than 20 Injured
-
Beauty5 months ago
Martha Stewart Lands Sports Illustrated’s Swimsuit Cover At 81
-
Celebrity5 months ago
2023: Justin Long and Kate Bosworth Are Married!
-
Entertainment5 months ago
Unsolved Mysteries: Kayla Unbehaun Found Nearly 6 Years After Alleged Abduction