Apple (AAPL - Get Report) iPhone SE models, the cheapest the company makes, will hit Indian shelves this month as the tech giant tries to gain traction in a country where it has only a 3% market share, the Wall Street Journal reported.
The first Indian-made iPhones will be cheaper than most models at $325. About 95% of Indian mobile users pay under $500 for their phones.
Apple is also considering plans to open flagship stores in major Indian cities to accompany the development centers it already has there.
The move to increase brand awareness in India are part of Apple's effort to keep Samsung (SSNLF) and growing competitors Xiaomi Corp. and Lenovo Group (LNVGY) from dominating the growth of an expected additional 310 million mobile subscribers by 2020.
Apple's shares fell 0.4% to $145.32 early Thursday afternoon.
What's Hot On TheStreet
Tesla still doesn't deserve its valuation: Tesla (TSLA - Get Report) fanboys have just gained their daily pound of flesh. The electric car company has reportedly reached a deal with officials in China to open a production facility in the world's biggest clean-energy car market. The deal would likely allow it to form a joint-venture with a China-based partner and avoid the 25% tariff applied to imported vehicles. The move would also substantially cut shipping and production costs when compared to Tesla's facility in Nevada, TheStreet's Martin Baccardax reports.
Tesla is now valued at an insane $61 billion...and counting.
What was this Kroger exec drinking: Maybe this Kroger (KR - Get Report) fella has been up too late studying the aftershocks of Amazon's (AMZN - Get Report) big deal for Whole Foods (WFM) . "I'm glad their stores are finally open," Kroger CFO Michael Schlotman said about German rival Lidl at Oppenheimer's Consumer Conference Wednesday. Schlotman said he is excited, in fact he feels "great about it," to finally start seeing if the preparations Kroger put in place to compete with Lidl will stand the heat. TheStreet's Lindsay Rittenhouse was all over this bizarre exchange.
Having your profit margins crushed by a ruthless German grocer shouldn't be exciting, Kroger.
Don't forget about Intel: Advanced Micro Devices (AMD - Get Report) may beat Intel Corp. (INTC - Get Report) to selling the fastest computer chip this year, but the technology giant is working on other projects that are pushing the limits.
From artificial intelligence to drones, Intel is working to connect everything to the internet to collect data that can be used to improve safety, efficiency and lifestyles. Whether it is helping athletes perform better or making cars autonomous, Intel's technology is working to transform multiple industries. Here's 11 cool projects Intel is working on that investors seem to have forgotten about.
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