By the end of the year 2024, 78.05 percent of the global population was using smartphones, according to Statista. The report also details that many people use multiple smartphones which results in a higher number of smartphone subscriptions than the physical handsets. What was 6.97 billion smartphone subscribers in the year 2023 is expected to rise to a whopping 8 billion by the year 2028.
The two prominent market leaders in the smartphone industry are Apple and Samsung. Statista also reported that, in the second quarter of the year 20224, Samsung held 18.3% of the global smartphone market share, closely followed by Apple with 17.7%. These two smartphone brands are fiercely competitive and are continuously swapping the top two positions in global market share. The competition between Apple and Samsung is strong, as both companies compete in smartphones, tablets, and other tech products with different features and price ranges. Here’s a look at both these brands and their journey, highlighting their fierce competition.
Origin
Apple Inc.
Apple’s first product, the Apple I, designed by Steve Wozniak
Headquartered in Cupertino, California, Apple currently enjoys the status of the world’s biggest company by market capitalization. As of January 31, 2025, Apple’s market value is $3.55 trillion. Over the past year, it has grown by 24.91%. As valuable as the company is, its story is one that has been told many times. Suffice it to say that Apple Computer Company was founded in the year 1976 by Steve Wozniak, Steve Jobs, and Ronald Wayne to develop and sell Apple I Computers. A year later the company changed its name to Apple Computers, Inc. and then went public in the year 1980. Management disagreements and power struggles between the executives led Steve Jobs and Steve Wozniak to step back from their respective roles and pursue other individual ventures. The company landed in more trouble over the next decade and brought back Steve Jobs in a bid to guide the company back to success.
Apple – iPhone, Mac, and the iPod
It was then, that Steve Jobs turned Apple Inc., around by introducing a number of tactics and devices that included the iPhone, Mac, and the iPod. Through the years it launched many memorable campaigns, opened Apple Store retail chain, and acquired numerous companies to broaden its product portfolio. The brand enjoys a high level of customer loyalty and has been consistently ranked as one of the world’s most valuable brands.
The South Korean company was founded in the year 1969 and is headquartered in Suwon, South Korea. It was established as an industrial part of the Samsung Group. It was the result of a joint venture that was named Samsung-Sanyo Electric with Sanyo and Sumitomo Corporation. Samsung-Sanyo Electric was the predecessor to today’s Samsung Electronics.
Samsung SH-100 – Samsung’s First Mobile Phone
The company went on to produce electronic and electric appliances including televisions, calculators, refrigerators, air-conditioners, and washing machines. Since then, over the years, the company has grown its product footprint and expanded its presence across the globe. The company launched its first mobile phone in the South Korean market in the year 1988. It was only in the year 2007, that the company became the world’s second-largest smartphone manufacturer.
Samsung Electronic Products
By the end of the year 2021, Samsung Electronics was ranked at number two as the ‘Best Global Brands’ by the market research firm YouGov, and by mid-2022, PricewaterhouseCoopers ranked it at number 22 on their global top 100 companies by market capitalization.
Both of these conglomerates make some of the best products in the industry. Within the scope of consumer electronics, both these companies make the same products like smartphones, laptops, wearables, etc. Product commonality, however, breeds a very different customer base for both of these giants. The main reasons behind this are differences in design, price, compatibility, functionality, and the elusive idea of brand loyalty.
This is a look at one such common product – smartphones and how each brand fares in this particular product category.
User Experience
Apple and Samsung – Operating Systems
Even though both the smartphone brands work on different operating systems, Android on Samsung and iOS on Apple, the user experience in both is very similar. Samsung has made significant improvements over the years. Having said this, both these brands can improve in terms of design and optimization.
Product Durability
Apple and Samsung – Durability
Historically, both Apple and Samsung had huge issues with product durability. However, in recent years, both companies have made huge leaps and upgraded their products to be waterproof as well as have highly improved glass tensile strength.
Performance of the Product
Samsung is leading on the performance part as they have beaten Apple in 5G Systems by at least a year. However, the chips in Apple phones far outperform Samsung. Apple optimizes its chips rather than sourcing designs from other semiconductors on the open market. Samsung, on the other hand, leads the market with its display screens due to its concentrated R&D efforts. Overall, the product performance of an Apple smartphone in the real world is faster than that of Samsung.
Supply Chain Integration
This is a category in which Samsung is the clear winner as Apple is dependent on Samsung for product parts like OLED displays, NAND flash, and DRAM. Although Apple designs its own chips and is very competent in the area, its dependence on Samsung for procuring some parts reduces its competition with Samsung.
App Ecosystem and Native Services
Apple is unbeatable in this particular category due to its ecosystem in terms of the quality of services it offers on its devices. Samsung is dependent on Google for its services on Android. Also, Google’s apps and services that are implemented on iOS, sometimes work better than the Android version.
Platform Privacy and Security
Samsung’s platform openness versus Apple’s closed and personally managed platform means there is no comparison between the two when it comes to platform privacy and security. Apple has a track record of hardly keeping any personal logs or information about its users which stands it in good stead in the privacy category. Google, used by Samsung, is, at its heart, an advertising company. This means that the company collects data and information about its users for future use. Also, the Android ecosystem is full of malware making its usage a risk.
Product Range Comparison
Apple offers fewer phone options, with only its top models featuring the best technology at premium prices. More affordable choices come from older versions, which may get updates in the future.
Samsung provides a wider range, with budget-friendly options for basic users, high-end models with top performance, and foldable phones that remain expensive.
Pricing Comparison
Samsung is known for its budget-friendly phones. Its most affordable option offers a long-lasting battery, a reliable fingerprint scanner, and regular software updates, making it a solid choice for basic needs.
In countries like India, the UK, and parts of Europe, Samsung’s budget lineup includes phones with large batteries and multi-camera setups. These models sit below the more refined mid-range series but share some features with minor adjustments, including different processors.
Apple, on the other hand, does not offer phones at budget prices. The most affordable iPhones are either older models with outdated hardware and software or second-hand devices.
Apple iPhones have a simple and stylish design. They are easy to use, have a good camera, and a long battery life.
Samsung phones have more features, bigger screens, and more ways to customize.
Samsung offers phones at many prices, from budget to premium. Apple only sells expensive phones, with no budget options.
Apple’s software is smooth and secure, while Samsung gives more control and flexibility to users.
Conclusion
Apple and Samsung competition is strong, with both companies offering different designs, features, and price ranges to attract customers. Both are highly innovative companies that apply their innovations differently.However, customer loyalty is built by product offerings and whether it delivers value for the cost as well as in comparison to its competition. Both these companies are prime players in the consumer electronics sector and each has its own consumer base. It remains to be seen how they will both perform in the coming years.
FAQs
When was Apple founded?
Apple Computer Company was founded in the year 1976 by Steve Wozniak, Steve Jobs, and Ronald Wayne to develop and sell Apple I Computers.
Which was the first Samsung mobile phone?
Samsung launched its first mobile phone SH-100 in the South Korean market in the year 1988.
On which operating system does Samsung work?
Samsung works on the Android platform.
Are Apple and Samsung competitors?
Yes, Apple and Samsung are big competitors in the smartphone market.
How does Samsung compete with Apple?
Samsung competes with Apple by offering more phone options, bigger screens, more features, and Android’s flexibility, while Apple focuses on premium, simple, and secure devices.
Why is Samsung Apple’s biggest competitor?
Samsung is Apple’s biggest competitor because it sells the most smartphones worldwide, offers phones at all price levels, and competes in innovation, design, and technology. Both brands lead in premium devices, but Samsung also provides budget and mid-range options, attracting more users.
According to Apple CEO Tim Cook, the company’s October–December quarter sales in India set a record, with the iPhone emerging as the top-selling smartphone model in the nation. Throughout the company’s Q1 2025 financial results call, Cook stated, “I am especially keen on India, as we’re opening four new stores there and they set a December quarter record during the quarter.” With overall shipments hitting a record $12.8 billion (about INR 1.08 lakh cr), Apple’s iPhone exports from India in 2024 broke the INR 1 lakh cr milestone. The CEO also discussed the company’s plans to open four new locations across the nation. In October of last year, Apple announced intentions to establish four more retail locations nationwide. The iPhone manufacturer intends to open new locations in Mumbai, Bengaluru, Pune, and Delhi NCR.
India -2nd Largest Market for Smartphones: Cook
Given that India is the world’s second-largest smartphone market and the third-largest for PCs and tablets, he also emphasised the potential of the Indian smartphone market throughout the call. Cook responded to a query from an analyst regarding supply chain planning in India by stating that since the company produces its goods for both the local and international markets, economies of scale are necessary for the Indian manufacturer to earn money. In addition to French, German, Italian, Portuguese, Spanish, Japanese, Korean, and simplified Chinese, the tech giant now plans to make Apple Intelligence available in a number of languages, including India’s localised English. The CEO of Apple also cited Zomato, a massive foodtech startup in India, to illustrate how the business is seeing high demand in developing areas.
Growing Network of Apple in India
Cook added that the company saw high demand in new areas as well. For instance, Zomato, a well-known Indian food delivery service, has thousands of Macs spread throughout its workstations. Apple recently began talks with Bharat Forge Ltd., a major manufacturer of auto components, to include Kalyani Group as one of its local vendors. The business launched the Apple Store app in India earlier this month in response to growing sales of its flagship iPhone devices in the nation. The company’s goal is to increase its retail presence in the second-largest smartphone market in the world.
On a year-over-year basis, the company’s product sales increased 1.5% to USD 97.96 billion from USD 96.45 billion, while its services sales increased around 14% to reach a record high quarterly revenue of USD 26.34 billion from USD 23.11 billion. On a year-over-year basis, sales of Apple’s Mac PCs rose 15.5% to USD 8.98 billion from USD 7.78 billion, and sales of the iPad gained almost 15% to USD 8 billion from USD 7 billion. With the exception of China, where it produces the majority of Apple products, the company’s sales increased in every region. During the December quarter, Apple’s sales in China fell 11% to $18.5 billion from USD 20.8 billion in the same period last year.
Ahead of the case’s final hearing next year, the Competition Commission of India (CCI) has reportedly decided to put the huge tech giant behind a “confidentiality ring” as part of its stepped-up antitrust investigation into Apple. According to sources cited by a media report, the watchdog consented to establish the “confidentiality ring” last week. Before the CCI begins the lawsuit’s final hearing, the action will allow the giant tech firm to examine sensitive information related to the antitrust case. The regime, which was implemented in 2022, gives parties access to private data or records pertaining to other parties in an investigation so they can better defend themselves. The confidentiality ring aids regulators in quickly resolving complaints, subject to specific riders. Apple and other chosen parties have access to sensitive, private information under the secrecy ring.
Options Available for Apple
According to media reports, Apple may be asked to respond to the CCI probe report after information is made available, at which point the hearing will start. In this situation, Apple will have four weeks to provide the information that the watchdog is requesting. The article also stated that Apple and a few other carefully chosen linked businesses will have the opportunity to physically confirm the files and information in the investigative report, and they may even receive a certified copy of those files.
The move follows rumours that the CCI denied Apple’s plea to halt an antitrust investigation that exposed the massive tech giant’s violations of the nation’s competition laws, which circulated a month ago. Apple had argued in its petition that the non-profit Together We Fight Society (TWFS), the primary complainant, had disregarded the watchdog’s orders to remove previous probe reports. In August, the CCI ordered an extraordinary recall of investigative reports after Apple alleged that the watchdog had given over trade secrets to rivals, including Match, the owner of Tinder, as part of the antitrust inquiry.
The Commission then instructed the parties to destroy all copies and return the reports. It then released fresh reports. Allegations that Apple was abusing its dominating position in the app marketplace and pressuring developers to utilise its in-app payments system prompted the watchdog to begin its probe against the corporation in 2021.
Big Tech Companies Face Strict Scanning by CCI
According to reports earlier this year, the Cupertino-based multinational tech company was found guilty of unfair trading practices and violating competition laws by the CCI internally. It is important to note that the CCI is targeting other large IT companies in addition to Apple. The authority levied two distinct fines against Google in 2022, amounting to more than INR 2,200 Cr, for misusing its market dominance in Android smartphones and for violating Play Store regulations. The social media giant Meta was also fined INR 213.14 Cr by the CCI in November of this year for abusing its power in relation to the 2021 WhatsApp privacy policy modification. Amazon and Walmart-owned Flipkart were later found to have violated competition regulations by favouring specific sellers on their platforms, according to an internal investigation by the Commission.
Did you know shoppers saved an average of £350 on Apple products during last year’s Black Friday sales? Yet most people miss out on the best apple black friday deals because they’re looking in the wrong places. While Apple’s own store typically offers modest gift cards, authorised retailers often slash prices by up to 30% during the black friday sale 2024. We’ve spent years tracking black friday iphone deals and other Apple product discounts. The secret? It’s not just about waiting for the big day – it’s about knowing where to look, when to buy, and how to stack multiple discounts.
Ready to save hundreds on your next Apple purchase? We’ll show you exactly how to spot and secure the best deals this Black Friday season. Let’s dive in!
Let’s uncover Apple‘s unique approach to Black Friday deals. We’ve analysed years of pricing data, and the pattern is fascinating.
Historical pricing patterns
Over the years, we’ve observed that Apple maintains a consistent strategy for black friday sales in 2024. Instead of slashing prices directly, they offer gift cards with purchases. This year, from November 29 to December 2, customers can earn gift cards worth up to £160 on select products.
Setting price alerts and tracking tools
We’ve found Visualping to be invaluable for monitoring the best Black Friday deals. Here’s how we set it up:
Copy-paste your desired product URL into Visualping
Select specific areas of the page to monitor
Choose notification frequency (we recommend every 6 hours)
Set your alert email address
Creating a prioritised shopping list
Based on our analysis of historical pricing, we recommend this buying strategy:
Buy iPads and MacBooks early when deals appear
Wait for AirPods and Apple Watch deals closer to Black Friday
Monitor iPhone prices daily starting mid-November
Pro tip: Create separate wish lists on major retailer websites to track black friday iphone deals across multiple platforms simultaneously.
Maximising Savings Through Multiple Channels | Apple Black Friday Deals
We’ve discovered that combining multiple savings channels can lead to significantly better apple black friday deals than focusing on a single source. Here’s our insider guide to maximising your savings this black friday sale 2024.
Carrier deals and bundle offers
Our research shows that carriers are offering some of the most aggressive deals this season. Verizon’s current bundle offers exceptional value:
Get a free iPhone 16 with new Ultimate Unlimited plan
Receive a complimentary iPad 10.9 and Apple Watch Series 10
Save up to £837 monthly on device costs
Note: These bundles typically require a 36-month commitment and may include activation fees of around £35.
Cashback and reward programs
We’ve tested numerous shopping portals and found these best Black Friday deal strategies particularly effective:
Stack rewards by using:
Shopping portal cashback (like Rakuten)
Credit card rewards (3% back with Apple Card)
Quarterly bonus categories
Maximise protection benefits:
Use credit cards offering extended warranty
Ensure purchase protection coverage
Get return protection for holiday purchases
Pro tip: We recommend using Cashback Monitor to compare rates across different portals before making your purchase. Some portals offer up to 10% cashback on Apple products through authorised retailers.
Remember, while Apple Store rarely allows stacking discounts, authorised retailers often let you combine education pricing with black friday sale 2024 offers for maximum savings.
Our extensive price tracking reveals that timing is everything when hunting for apple black friday deals. I’ve noticed that retailers like Amazon are already offering record-low prices on the latest M3 MacBooks and iPad Air models. We’re seeing the 256GB 9th generation iPad at £120 off, which is the lowest price ever recorded. Let’s dive into our expert product-specific strategies that have helped us save thousands.
Price matching policies
We’ve discovered that most retailers will match competitors’ black friday sale 2024 prices within 14 days of purchase. Here’s what I recommend:
Keep your receipts and monitor prices post-purchase
Screenshot competitor prices as evidence
Contact customer service promptly when you spot a lower price
Remember, Apple’s price protection excludes special sales events like best black friday deals, but authorised retailers often have more flexible policies.
Refurbished vs new considerations
After years of experience with both new and refurbished Apple products, I can confidently say that Apple’s refurbished products offer exceptional value. Here’s what makes them worth considering:
Save 15-25% off retail prices
Receive full one-year warranty coverage
Get completely new batteries for iOS devices
Enjoy identical AppleCare+ eligibility
Receive pristine exterior conditions
I particularly recommend considering refurbished MacBooks and iPads, as they undergo rigorous testing and often come with the latest operating systems installed. However, for black friday iphone deals, we typically find better value in new models due to carrier promotions and trade-in offers.
Pro tip: We’ve found that refurbished stock fluctuates daily, so I recommend checking Apple’s refurbished store first thing in the morning for the best selection.
Black Friday shopping for Apple products requires smart planning and knowing where to look. Through our years of tracking prices and deals, we’ve learned that authorised retailers often beat Apple Store offers significantly. Smart shoppers who combine multiple savings channels – from trade-ins to education discounts and cashback programmes – can save up to £350 or more on their purchases. Remember that timing matters greatly for different products. MacBooks and iPads often see early deals, while iPhone deals peak during Black Friday week.
Refurbished products present another excellent way to maximise savings while still getting like-new quality and full warranty coverage. Make sure you check StartupTalky’s Instagram for daily updates on the latest Apple deals, tech news, and exclusive giveaways that could boost your savings even further. Set your price alerts now, prepare your trade-ins, and keep our product-specific timing guide handy. With these strategies and tools at your disposal, you’re ready to secure the best Apple deals this Black Friday season. Stay vigilant, act fast when you spot a great deal, and don’t forget to stack those savings whenever possible.
FAQ
Will Apple have a Black Friday sale in 2024?
Yes, Apple is hosting a Black Friday sale in 2024. Their four-day shopping event, running from November 29 to December 2
Is the iPhone cheaper on Black Friday?
Yes, iPhones are generally cheaper during Black Friday sales, with discounts varying based on models and retailers.
What is Apple Black Friday?
Apple Black Friday is a yearly event offering gift cards up to $200 on select products during Thanksgiving weekend.
Apple’s request to stop the investigation of a report that claimed the tech giant had broken Indian competition laws was denied by the Competition Commission of India (CCI). According to a media report, this permits the lawsuit, which has been being investigated since 2021, to proceed.
The investigation focusses on claims that Apple hurt app developers, consumers, and alternative payment processors by abusing its market dominance in the iOS app store. Apple has refuted the accusations, claiming that its market share is negligible in India, where Google’s Android dominates with 96.5% of the smartphone market.
How it all Started?
A previous disagreement over how to handle probe reports was linked to Apple’s most recent request. The CCI recalled its original reports, issued amended versions, and ordered the destruction of the old copies after the corporation claimed in August that the CCI had contained sensitive commercial information in those reports. Apple asserted, however, that the case’s first complaint, Together We Fight Society (TWFS), did not follow this instruction. The business asked that the updated reports be withheld and filed a regulatory action against TWFS. This request was denied by the CCI, which declared it “untenable.”
The CCI has requested that Apple provide its audited financial accounts for the last three fiscal years as the case moves forward. If the corporation is found to have violated competition laws, these records will assist the regulator in determining possible fines. After reviewing the updated inquiry report, senior CCI authorities are anticipated to render a final decision.
Apple’s App Store Policies Face Strong Criticism
The increased scrutiny of large tech companies in India and around the world coincides with Apple’s difficulties with the CCI. Apple’s App Store policies have drawn criticism from developers, especially the demand that developers use its in-app payment mechanism and pay a percentage of sales. The CCI’s inquiry and subsequent decision may have a big impact on Apple’s business operations in India, even if the company insists it doesn’t have enough market dominance there to hurt competition.
Apple Expanding its Footprints in India
To assist with the research, creation, and testing of new products, Apple has established a wholly owned company in India called Apple Operations India. In its regulatory filing, the company specified the following proposed activities: hiring engineers for hardware development, leasing facilities, purchasing engineering equipment, and offering failure analysis services to group companies. In a letter of consolation, Apple promised to continue to provide “operational and financial support” for the “foreseeable future.” The Macintosh PC manufacturer is establishing a direct subsidiary of the US parent company in India for the first time.
With fixed assets of INR 36.8 crore and capital work-in-progress of INR 38.2 crore, the company’s operations in India are making major strides. Through the provision of hardware, software, and other services, the new business will assist independent contractors and manufacturers.
Top international electronics companies like Samsung, LG, and Sony currently have research and development (R&D) facilities in India; however, these are primarily restricted to software development for international launches and hardware localisation of products. Vivo and Oppo, two Chinese phone manufacturers, operate similarly. To ensure tech and back office services and to carry out research and development, numerous multinational corporations from the United States and Europe have established global capability centres (GCCs) in India.
By 2026–2027, a year after the end of the five-year production-linked incentive (PLI) programme for handheld devices, Apple Inc. and its suppliers hope to assemble 32% of the iPhone’s global production volume and 26% of its value in India.
If global iPhone sales stay at 2023-24 (FY24) levels, this may amount to a production value of more than $34 billion. According to media reports, the figures are based on conversations on product assembly in India between Apple Inc. and its suppliers as well as the federal and state governments.
India to Produce 17-18% World’s iPhone
Apple‘s vendors project a freight-on-board (FOB) production value of $9 billion for the first half of 2024–2025 (FY25). According to projections, India would produce 17–18% of the world’s iPhones by the end of the fiscal year and 14% of their total worth.
Only 12–14% of the world’s iPhone production volume moved to India in FY24, although the value accounted for more than 10%. The corporation is anticipated to conclude FY25 with a production value of $18 billion (market value around $27 billion), according to vendor planning.
The Marketing Dynamics of iPhone
Sales, distribution costs, and dealer margins make up the market value of iPhones, whereas FOB denotes the value at the time of shipment. India’s iPhone production was valued at $14 billion in FY24. Given that iPhones accounted for 51% of Apple Inc.’s $391 billion global revenue in the fiscal year that ended on September 30, 2024, the country stands to gain greatly from the move of iPhone production from China.
With $201 billion in global sales, the iPhone is 21% more than the Tata Group‘s $165 billion overall revenue and 67% higher than Reliance Industries’ $119 billion revenue for FY24. Worldwide, Apple’s iPhone sales are on par with Microsoft’s ($211 billion) and surpass those of several companies, including Chevron ($200 billion), Honda Motor ($141 billion), Ford Motor ($176 billion), and Nestlé ($103 billion). Therefore, any increase in manufacturing capacity for India would result in significant additional income for the nation.
India is Becoming a Centre Stage for iPhone Production
The significance of this change is demonstrated by the fact that JP Morgan earlier predicted that by 2026–2027, 25–30% of iPhone manufacture would relocate to India. By the fifth year of the PLI scheme, Apple had originally promised to move just 10% of its production to India. But in the scheme’s third year, it has already surpassed that amount. If US President-elect Donald Trump raises taxes on mobile devices (which are presently 15%), especially with regard to China, with whom the US is engaged in a trade war, the scenario could shift even further.
India, Vietnam, and other Southeast Asian nations may benefit from the punitive tariffs that Trump has suggested may reach 60%. Of course, if the government does not discover more measures to reduce tariff rates on components used in mobile devices, ease labour regulations, and improve logistics, Apple’s vendor targets may alter. This is because China and Vietnam are more affordable than India. Furthermore, the difficulty of reaching value-addition goals of 35–40% by the PLI scheme’s conclusion may make matters more difficult.
India might soon contribute to the design, testing, and research of Apple’s new products. The Cupertino-based business has established Apple Operations India as a completely owned subsidiary in India.
The new entity’s anticipated activities included hiring engineers for hardware development, leasing facilities, purchasing engineering equipment, and offering failure analysis services to group companies, according to a regulatory filing.
‘Letter of Comfort’ From Apple
According to Apple Operations India’s registration with the Registrar of Companies (RoC) last week, Apple Inc. has provided “a letter of comfort,” guaranteeing that it will continue to provide “operational and financial support” for the “foreseeable future.” It would be the first time in Indian history for the iPhone manufacturer to design and test hardware in the nation. Currently, the business conducts research and development in Israel, China, Germany, and the US. Additionally, this is the first time the US parent company’s Macintosh PC manufacturer has established a direct subsidiary in India.
According to the RoC, Apple Operations International, based in Ireland, is the owner of Apple India, the holding company of its current sales and marketing entity.
According to the application, Apple outsources the manufacturing of its products in India, and the new entity would assist independent contractors and manufacturers by offering hardware, software, and other services.
Apple’s Operations in India
Top international electronics companies like Samsung, LG, and Sony currently have research and development (R&D) facilities in India; however, these are primarily restricted to software development for international launches and hardware localisation of products. Vivo and Oppo, two Chinese phone manufacturers, operate similarly.
To outsource tech and back office services and carry out research and development, numerous multinational corporations from the United States and Europe have established global competence centres (GCCs) in India.
In addition, Apple is establishing the new India corporation in the midst of the ongoing economic dispute between the US and China, which is predicted to get worse after Donald Trump won the recently concluded Presidency Election.
Apple is Growing its Network in India
According to its memorandum of association with the RoC, Apple Operations India will “undertake research and development and design relating to science, engineering, technology and applied technology, computer and information technology programming, research and systems, related technical support, technical testing and analysis,” among other related activities.
According to the memorandum, it will also supply third-party manufacturers and/or contractors with any kind of “equipment, instruments, components, and systems, technical, electronic, mechanical, software, or otherwise, by way of lease, hire, or otherwise.”
Tim Cook, the company’s CEO, has admitted in all of the company’s earnings calls over the past few years that Apple has been breaking sales records in India every quarter. As Cook stated last month, Apple now has two company-owned stores in India and intends to launch four more soon. Apple is currently the nation’s biggest exporter of electronics after growing its manufacturing facilities there with three partners.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
The wealth management industry is forecasted to reach $128.90 trillion in global Assets Under Management (AUM) by 2024. BlackRock, the largest asset manager in the world with $10.47 trillion in AUM as of October 2024, has reached its pinnacle in the asset management field by implementing effective differentiating strategies.
It has risen to prominence by distinguishing itself from the competition, utilizing the latest technology, sustainable investing, and a client-focused approach. These strategies have positioned BlackRock as a leader in the financial industry, driving its continued success and influence across global markets.
In this article, learn more about BlackRock, the company that owns the world, its founders, its success story, how it makes money, BlackRock net worth, what makes it unique, and more.
BlackRock – Company Highlights
Company Name
BlackRock
Headquarters
New York, United States
Industry
Financial Services, Asset Management, Investment
Founders
Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, and Keith Anderson
The Company That Owns the World: Who is BlackRock?
BlackRock – About
BlackRock, Inc. is a global asset management, risk mitigation, and advising firm that works with both retail and corporate clients. Single and multi-asset type baskets that invest in stocks, fixed income, options, and money market funds are among the company’s offerings.
The firm is organized into a single corporate unit. Financial advisory and admin costs make up the majority of the company’s income. Aperio, a customized indexing company, was bought by BlackRock for $1.05 billion on Feb 1, 2021.
The fund management corporation with over$10.47 trillion in Assets Under Management, employs 16,000+ colleagues from 89 offices in 38 countries. BlackRock owns 5074 total positions as of June 2024. Among its diverse portfolio, BlackRock’s top equity holdings include major companies such as Apple, Microsoft, NVIDIA, Amazon, Facebook, Tesla, ExxonMobil, etc.
In 2024, BlackRock ranks 231in the Fortune 500 companies, highlighting its prominence in the global financial sector.
BlackRock’s Top Equity Holdings | Who Does BlackRock Own?
BlackRock – Founders
The BlackRock founders—Larry Fink, Susan Wagner, Robert S. Kapito, Barbara Novick, Ralph Schlosstein, Hugh R. Frater, Ben Golub, and Keith Anderson—played a pivotal role in establishing the company and shaping its growth in the asset management industry.
Larry Fink
Larry Fink – Chairman & CEO, BlackRock
Laurence D. Fink is the co-founder, Chairman, and CEO of BlackRock. Fink is widely recognized as one of today’s leading financial figures. His beginnings were more modest; his father owned a shoe store, and his mother was an English teacher. Fink earned a Bachelor of Arts in political science from the University of California, Los Angeles (UCLA), in 1974, and he was also a member of the Kappa Beta Phi honor society. He then obtained an MBA in real estate from the UCLA Anderson School of Management in 1976.
Fink began his career on Wall Street at the age of 24, a young man from Los Angeles with long hair and jewelry, eager to make his mark in global finance. He joined First Boston with a starting salary of $20,000, where his hard work quickly attracted the attention of management, setting him on a path to leadership roles. He dedicated long hours on the trading floor, using a Monroe calculator—the only equipment available at that time.
Three years after joining First Boston, Fink was appointed head of mortgage-backed securities, significantly increasing the firm’s revenue by $1 million. His expertise in the industry earned him immense respect on Wall Street, where he was involved in significant transactions, including a $4.6 billion securitization of GMAC auto loans. Remarkably, he became the youngest chief executive in the industry at just 27 years old.
The First Boston Blunder
In Q2 of 1986, the finance team at First Boston Corporation made a critical miscalculation. They predicted that interest rates would soar, but the opposite occurred. Larry Fink, in charge at First Boston, oversaw a loss of $100 million in client funds. In less than a day, he went from a respected leader to the target of criticism.
The error was glaring, and Fink was let go, laughing in embarrassment despite the fact that it wasn’t entirely his fault. His predictions were based on backend data, which failed due to a technical glitch. Stumped by the significant loss, Fink couldn’t shake off the gravity of the situation. The computer systems simply weren’t reliable.
Determined to learn from the failure, Fink devised a strategy that would ultimately lead him to rise from the ashes and build the world’s largest asset management firm. Friends believe he felt a strong urge to redeem himself and prove his capabilities.
Rob Kapito is the co-founder of BlackRock and currently serves as its President and Director. He oversees key operations, including Investment Strategies, Client Businesses, Technology & Operations, and Risk & Quantitative Analysis. He has played a crucial role in shaping BlackRock’s portfolio management since its founding in 1988, previously heading the Portfolio Management Group.
Beyond his corporate responsibilities, he serves on the Board of Trustees for the University of Pennsylvania and the Harvard Business School Board of Dean’s Advisors. He is also the President of the Board of Directors for the Hope & Heroes Children’s Cancer Fund. Rob holds a BS in economics from the Wharton School and an MBA from Harvard Business School.
BlackRock – Startup story
The BlackRock history dates back to 1988 when 8 peers—Larry Fink, Susan Wagner, Robert S. Kapito, Barbara Novick, Ralph Sclosstein, Hugh R. Frater, Ben Golub, and Keith Anderson—with experience in mortgage-backed assets, formed BlackRock in one room. They secured a $5 million bank loan to manage assets that were good for clients.
The Federal Deposit Insurance Corporation (FDIC) was one of their initial clients. The industry was on the brink of collapse due to certain bad decisions made by Savings and Loan (S&L) institutions until their settlement trust organization was founded. Fink’s BlackRock was recruited by the FDIC to oversee the S&L holdings after the government took control.
Meanwhile, BlackRock was developing its own tech called Aladdin. By 1991, BlackRock had $9 billion in assets under management (AUM). They reached $17 billion in 1992 and $53 billion in 1994.
In 1995, Peabody, a coal company, went bankrupt. Fink was called in by General Electric (GE), which owned Peabody, to help with the liquidation of Kindler’s $7 billion mortgage-backed securities portfolio.
PNC Financial Services Group paid $240 million for a stake in BlackRock Financial Management in 1995. Some argued that the step was pointless at that time, as BlackRock was only offering a part of its company.
Fink, however, was well aware that he was about to face a difficult climb. With this offer, BlackRock was about to redefine everything. The relationship with PNC allowed BlackRock to gain retail clients to support its institutional clientele, which still made up around 80% of its AUM in the 90s.
BlackRock – Vision and Mission
Vision: BlackRock aims to help more people experience financial well-being. The firm contributes to a more equitable and resilient world for both current and future generations.
Mission: BlackRock operates under five core principles:
Client First: BlackRock is a fiduciary, prioritizing clients’ interests with integrity and unbiased advice.
One BlackRock: Collaboration within a diverse team is essential to achieving the best outcomes for clients and communities.
Passionate Performance: Continuous innovation enhances client service and overall firm performance.
Emotional Ownership: A deep sense of responsibility is taken for clients’ futures, with a commitment to high standards of excellence.
Better Future Commitment: Long-term thinking guides sustainable practices that benefit all stakeholders.
BlackRock – Name and Logo
BlackRock was established in 1988 as a risk management and fixed-income asset manager. The name “BlackRock” reflects its foundational values, where “black” signifies strength and stability, and “rock” represents reliability and security. The logo features a simple, bold typeface that highlights transparency and professionalism, which are core values of the firm as they help clients achieve financial well-being.
BlackRock Logo
BlackRock – Aladdin
BlackRock unveiled its risk evaluation and risk management system in 1999, known as Aladdin, which operates with around 5,000 supercomputers that work 24/7, monitored by a team of engineers, mathematicians, and developers. Aladdin is capable of tracking millions of daily trades and analyzing each asset within clients’ portfolios to understand how even slight economic developments might influence them.
This technology actively scans the markets for potential risks and formed the foundation for a new direction that would extend BlackRock’s scope beyond asset management into client advisory services.
Aladdin oversees more than $21 trillion in assets, serves over 1,000 clients—including 200+ financial services companies—and has over 130,000 users across 70 countries (2021), continuously enhancing its capabilities and influence in the financial landscape.
With a diversified portfolio, BlackRock became a publicly traded company on the New York Stock Exchange on October 1, 1999, launching its IPO at a price of $14 per share. However, people remained dubious about their latest technology, and BlackRock had the month’s worst IPO. As time passed, the market realized that, despite having the cheapest shares, BlackRock was keeping its commitments to investors. Fink opted to leverage the strength of acquisitions for 16 years of sustained growth. By the end of 1999, BlackRock had $165 billion in assets under management and operations in Sydney, Singapore, London, and Munich.
In 2008, while on a flight to Singapore, Fink learned that Lehman Brothers had gone bankrupt back home. The following morning, he traveled back to the USA as the financial industry shifted and was in peril. He called politicians and warned them, “The shit is hitting the fan; you’ve got to do something.” Fink was chosen by the Federal Reserve Board of NYC to oversee a $30 billion portfolio of Bear Stearns assets during the economic meltdown of 2008.
Fink believed the bank had failed to properly assess their investments, and Aladdin was utilized by investors, banks, and the Treasury. As the market was falling apart, Aladdin continued to thrive, expanding its clientele and becoming the go-to platform amid economic turmoil.
Fink, once seen as humiliated, emerged to help save the country from an economic disaster. Following this, BlackRock continued its buying spree, acquiring Barclays Global Investors for $13.5 billion in 2009, becoming the world’s largest asset manager. This merger integrated alpha and index strategies, enhancing client solutions. In 2019, BlackRock acquired eFront for $1.3 billion, setting a new standard for investment and risk management technology. These acquisitions solidified BlackRock’s position as the top asset manager.
BlackRock – Business Model
Customer Segments
BlackRock serves a wide community of retail and corporate investors with a mix of financial advice, portfolio management, and other solutions. The following are 3 major groups into which the Firm divides its clientele:
Official Entities, such as Federal Reserve, Treasuries, supranational, and other Govt agencies; Taxable Entities, such as health insurers, Investment firms, firms, Third-party fund backers, and Small investors;
Tax-exempt entities, such as specified gain and specified contribution retirement plans, NGOs, establishments, and inheritances.
BlackRock doesn’t quite reveal the details of its users on its portal or in its annual report due to the confidential and safe aspect of the Firm’s operations.
BlackRock caters to a worldwide clientele. America, APAC, Europe, the Middle East, and Africa are the multiple geopolitical zones in which the firm separates its users. America accounts for the majority of the BlackRock company’s revenue.
Value Propositions
Clients benefit from BlackRock in distinct manners:
It’s brand and repute, with the Firm having formed itself as one of the world’s top asset management and financial advising firms, with stellar credibility for offering great solutions and consistent profits to its clients;
Its service line includes single and multi-asset class pools that trade in equities, fixed income, options, and money market instruments.
Its global impact, with the Firm running a global network of offices helping people in over 100 nations all over America, APAC (Asia Pacific Accreditation Cooperation), Europe, the Middle East, and Africa;
Its availability, to facilitate direct guidance that is backed by multiple internet portals, such as its virtual BlackRock Solutions portal;
Its sector competence, with the Firm hiring highly-trained, skilled money managers, and other specialty finance experts, all of whom are overseen by a group of industry experts.
Channels
www.blackrock.com is the company’s website, where it offers data about its numerous investment vehicles, tools, and venues. Consumers can use a variety of tools and gain tailored services for their specific financial goals through the Firm’s site, along with the BlackRock Solutions portal and the iShares portal, which lets consumers handle their assets through ETFs.
BlackRock’s clients are generally served by an in-house group of qualified portfolio managers and other financial experts spread across the Firm’s segment operating areas. These employees serve out of the Office premises in Atlanta, London, Madrid, Tokyo, Sydney, and Hong Kong, which span America, APAC, Europe, the Middle East, and Africa.
BlackRock also serves consumers through a chain of approved middlemen, banks, thrift institutions, Health insurers, and Freelance experts serving the Firm’s retail investors. Third-party financial and perhaps other firms are included in this category over three of the Firm’s operating zones.
Customer Relationships
Customers can self-serve a multitude of choices and information through BlackRock’s virtual BlackRock Solutions and iShares portals. Clients can use these digital platforms to track their assets, and manage, and locate effective responses without having to deal with the Firm’s financial advice staff.
BlackRock’s clients are primarily served by a devoted team of financial advisors located throughout the firm’s many operational jurisdictions. These advisers meet with clients one-on-one to create a strong rapport and completely understand their unique needs, tastes, and limits. As a result, the Firm can serve customers that are personalized to each client.
Clients enjoy undying support from BlackRock, including frequent releases on the status of their investments. The Firm’s biggest clients are assigned their account managers, who can function as a vital link for questions and problems. Clients can also call the Firm’s main office directly, using the contact info provided on the portal.
Users can also track BlackRock’s operations on its many social media sites, such as Facebook, Twitter (Now X), and LinkedIn, and connect with the firm.
Key Activities
BlackRock gives retail and corporate clients a vast scope of portfolio and risk mitigation solutions in over 100 countries including the USA, Asia Pacific, Europe, the Middle East, and Africa. The firm offers single and multi-asset class baskets that buy stocks, fixed-income, options, and money market funds.
BlackRock primarily serves clients through a wide community of specialized investment managers and other finance experts, but it also works through a mix of finance middlemen, such as wealth managers, Banks, Health insurers, Trust firms, and freelance money managers.
Certain about the Company’s services, such as its BlackRock Solutions site and its iShares ETF offerings, are also accessible on the internet. BlackRock also provides risk analysis and risk mitigation advising solutions through the Green Package.
Key Partners
To offer financial advice to its global clientele proficiently, BlackRock collaborates with a range of affiliate corporations. The different sets are used to categorize these partners:
Supplier and Vendor Partners, which include vendors of multiple activities, products, and systems that enable the Firm’s core investing activities, as well as firms to whom key quasi-tasks can be outsourced;
Channel and Distribution Partners, which are the Firm’s chain of intermediaries, such as banks, wealth managers, health insurers, and trust entities, who offer an array of programs and options on the Company’s part;
Social and Community Allies, which include a series of non-profits and philanthropic NGOs with which the Firm operates on community initiatives all across the globe;
Tech Experts, which include a variety of technology, software, hardware, and integrations affiliates who help the Firm establish and manage robust IT systems and collaborate on diverse tech products; and
Tactical & Allied Members, which include market-leading firms from a multitude of sectors that collaborate with the Firm on promotional initiatives.
Several strategic alliances have been formed by BlackRock. A distribution relationship with Artivest to give wider exposure and quick access to its investible methods, a technological deal with Hazeltree LiquidityWeb to automate cash flows, and a trade alliance with Fidelity Investments are among the partnerships.
Key Resources
IP, Web portals, IT and Telecoms, A chain of sales and support centers, and A web of middlemen, Alliances, and Staff are among BlackRock’s most valuable assets.
As part of its mission, BlackRock holds or leases a variety of intangible assets. BlackRock was called a claimant or assignee in a lot of patents filed by the US Patent Office, such as applications labeled “Investment funds allowing a bond rating scale tactic,” “Framework and tactic for credit risk management for investments,” and “Structure and process for handling credit risk for investment portfolios.”
BlackRock has a range of tangible assets across the globe that are important to the operations that it holds or rents. Its global web of operations, which has sites in Seattle, Singapore, Sydney, and Taipei, spans the Americas, Asia Pacific, Europe, the Middle East, and Africa.
Cost Structure
The growth of BlackRock’s IP rights and web platforms, the upkeep of its IT and telecom networks, the sourcing of expertise, the function of its sales and support system, the application of promotional initiatives, the monitoring of its alliances, and the loyalty of its staff are all costs.
BlackRock Inc. generates revenue through the following key segments:
Investment Advisory, Administration Fees, and Securities Lending: The main revenue source is driven by fees based on assets under management. In FY 2023, this segment generated $14.4 billion.
Investment Advisory Performance Fees: This includes fees collected when investment returns surpass predetermined benchmarks. In FY 2023, this stream brought in $554 million.
Technology Services: BlackRock offers investment management and risk solutions through this segment. It contributed $1.49 billion in revenue for FY 2023.
Distribution Fees: This revenue is derived from the distribution and servicing of various investment products. In FY 2023, it amounted to $1.26 billion.
Advisory and Other Revenue: This segment focuses on advisory services provided to financial institutions and governmental entities. In FY 2023, it accounted for $159 million.
For the full fiscal year of 2023, which ran from January 1 to December 31, BlackRock’s revenue was $17.85 billion.
In the second quarter of 2024, BlackRock reported a record $10.6 trillion in assets under management. During this quarter, total revenue increased by 8% to $4.81 billion, while net income rose to $1.50 billion for the three months ended June 30, compared to $1.37 billion in the same period of 2023.
BlackRock – Investments
BlackRock’s investment portfolio includes a diverse range of companies. Some of its largest equity holdings as of September 2024 are:
Companies
Value Owned
% of Portfolio
Microsoft Corp
$247.60 Billion
5.61%
Nvidia Corporation
$227.22 Billion
5.15%
Apple Inc
$221.20 Billion
5.02%
Amazon Com Inc
$125.36 Billion
2.84%
Meta Platforms Inc
$81.23 Billion
1.84%
Alphabet Inc
$76.70 Billion
1.74%
Alphabet Inc (GOOG)
$65.17 Billion
1.48%
Eli Lilly & Co
$59.62 Billion
1.35%
Broadcom Inc
$54.91 Billion
1.24%
Berkshire Hathaway Inc Del
$43.63 Billion
0.99%
Jpmorgan Chase & Co
$40.19 Billion
0.91%
Tesla Inc
$37.61 Billion
0.85%
Unitedhealth Group Inc
$37.39 Billion
0.85%
Ishares Tr
$36.33 Billion
0.82%
Exxon Mobil Corp
$34.93 Billion
0.79%
Visa Inc
$33.48 Billion
0.76%
Mastercard Incorporated
$30.80 Billion
0.70%
Johnson & Johnson
$28.97 Billion
0.66%
Costco Whsl Corp New
$28.21 Billion
0.64%
Procter And Gamble Co
$26.24 Billion
0.59%
Merck & Co Inc
$25.66 Billion
0.58%
Home Depot Inc
$24.49 Billion
0.56%
BlackRock – Ownership
BlackRock Ownership | Who Owns BlackRock?
BlackRock’s ownership is primarily held by several large institutional investors, including:
The Vanguard Group: A major competitor of BlackRock, founded in 1975, known for its low-cost index funds and ETFs.
Fidelity Investments: Another main competitor, established in 1946 and based in Boston, Massachusetts, Fidelity operates in the investment banking and brokerage sectors.
Franklin Templeton: Founded in 1947 in San Mateo, California, Franklin Templeton is a significant player in the investment banking and asset management industry.
Carlyle Group: Founded in 1987 in Washington, D.C., Carlyle specializes in asset and fund management.
BlackRock’s future plans are centered on continuing to be a leading provider of investment products and services by focusing on key areas:
Sustainable investing: BlackRock is committed to helping its clients achieve their financial goals while also having a positive impact on the environment and society.
Private markets: BlackRock is expanding its private markets business to offer its clients a wider range of investment products and services. It is also seeking direct lending opportunities in India across different sectors, from agriculture to hospitality, as the country’s growing private credit market attracts more borrowers. This approach helps strengthen its position in the global private credit arena.
Technology: BlackRock is investing in technology to improve its investment performance and to better serve its clients.
Additionally, BlackRock is focused on expanding its global reach and presence.
In September 2024, BlackRock joined the Global AI Infrastructure Investment Partnership (GAIIP), alongside Microsoft, NVIDIA, and others, to invest $80-$100 billion in building AI infrastructure. This includes building data centers and sustainable energy plants, starting in the U.S. and expanding globally. An initial $30 billion will come from private equity. BlackRock views this as a major opportunity to drive AI innovation, create jobs, and boost economic growth.
Conclusion
BlackRock has evolved from a small startup into a global conglomerate. This market giant invests across a wide range of sectors and, as a result, holds shares and voting rights in several of Europe’s largest firms, including those in energy, oil and gas, and banking.
The firm also invests in government and central banks, issues public bonds, owns real estate, and serves as both an auditor and advisor, in addition to being a bondholder.
That’s right—BlackRock has grown so successfully and is considered so trustworthy that even governments sometimes request its assistance.
FAQs
What is BlackRock?
BlackRock, Inc. is a global asset management firm founded in 1988. It is the world’s largest asset manager, providing investment, risk management, and advisory services to both retail and corporate clients.
What does BlackRock do?
BlackRock offers a wide range of investment solutions, including single and multi-asset baskets that invest in stocks, fixed-income, options, and money market funds. It utilizes its technology platform, Aladdin, to enhance portfolio management and trading efficiency for clients across global markets.
What is BlackRock net worth?
As of October 2024, the net worth of BlackRock company is $141.03 billion.
Who is the CEO of BlackRock?
Larry Fink is one of the founders and the current CEO of BlackRock.
Who are the competitors of BlackRock?
BlackRock’s top competitors include:
Charles Schwab
Edward Jones
MSCI
Legg Mason
Vanguard
T.Rowe Price
State Street
When was BlackRock founded?
BlackRock was founded in 1988 in New York, United States.
Who are the BlackRock founders?
Larry Fink, Susan Wagner, Robert S. Kapito, Barbara Novick, Ralph Sclosstein, Hugh R. Frater, Ben Golub, and Keith Anderson are the 8 co-founders of BlackRock.
Is BlackRock the richest company in the world?
BlackRock is the world’s largest asset manager, managing over $10.47 trillion in assets under management (AUM) as of October 2024.
Has BlackRock ownership in Tesla?
BlackRock has 5.90% ownership of Tesla.
What is the largest investment of BlackRock?
The largest investments of BlackRock include Apple Inc. and Microsoft, with holdings valued at more than $221.20 billion in Apple and $247.60 billion in Microsoft.
How is BlackRock so powerful?
BlackRock is powerful because it manages a vast amount of assets and uses the Aladdin platform for advanced risk management and investment analysis. This allows it to make informed decisions and stay ahead in the financial market.
What does BlackRock own?
BlackRock’s investments span various sectors, with a prominent focus on technology. Its top holdings include major companies like Microsoft (MSFT), followed by Apple, Amazon, Nvidia, Alphabet (GOOGL), Meta, Alphabet (GOOG), and Tesla.
Who owns BlackRock?
BlackRock’s ownership is primarily held by several large institutional investors, including Vanguard Group, BlackRock Inc., State Street Corporation, Temasek Holdings, and Bank of America Corporation, among others, as of June 2024.
In order to avoid incurring substantial fines in accordance with its hallmark digital antitrust regulations, the European Union has issued a warning to Apple Inc., urging the company to make its highly guarded operating systems for the iPhone and iPad easily accessible to competing technology.
In accordance with the Digital Markets Act of the European Union, the watchdogs of the EU have announced that the company based in Cupertino, California is required to comply with stringent new restrictions regarding the integration of operating systems with other technologies. Six months were given to the corporation by the authority based in Brussels to comply, or else they would be subject to potential penalties in the future.
EU Aims to Compel Apple to Re-Engineer Its Services
Despite the fact that the announcement is not yet an official inquiry, the European Union intends to force Apple to redesign its offerings in order to grant competitors an access to the operating systems of the iPhone and iPad.
According to a statement released by the Deputy Commissioner for Competition of the European Union, Margrethe Vestager, it marks the first time that specification proceedings under the DMA have been used to steer Apple towards effective compliance with its interoperability requirements. An significant factor in this is the presence of effective interoperability, which can be seen, for instance, in smartphones and the operating systems that they use.
Reasons and Repercussions if Apple Doesn’t Agree to the Norm
Assuring that other developers have access to essential Apple capabilities, such as Siri voice commands and the payments chip, is one of the goals of the Digital Markets Act (DMA).
In the case that Apple does not comply with the DMA, the European Union may decide to initiate a formal investigation at a later time. This might ultimately result in significant fines of up to 10% of the company’s yearly sales worldwide. It has already been subjected to a parallel inquiry examining the restrictions that it has established for developers within its App Store, which may also result in significant penalties.
The latest version of Apple’s flagship gadget, the iPhone 16, was introduced earlier this month. The company is hoping that it will be able to attract customers with relatively minor hardware enhancements and artificial intelligence technology that is still in the development stage.
On the other hand, the American company announced in June that certain services, such as Apple Intelligence, iPhone Mirroring, and SharePlay Screen Sharing, would not be available in the European Union. This was owing to the criteria that the DMA places on OS systems in order for them to be compatible with third-party applications.
A statement from the state government of Tamil Nadu stated that the electronic component supply company Jabil intends to invest INR 2,000 crore to establish a manufacturing plant in Trichy, resulting in the creation of around 5,000 employment opportunities in the state.
On September 10, in the United States, the supplier to Apple, Cisco, and HP signed a contract with the state, with Chief Minister MK Stalin in attendance. Stalin posted on X, confirming the investment request and stating that important investments had been acquired for the industrial prosperity of Tamil Nadu! Jabil, a world-renowned EMS provider, has made a massive investment of INR 2,000 crore in Tiruchirapalli. A new cluster for electronics manufacturing will be formed, and 5,000 employment opportunities will be created as a result of this.
Tamil Nadu Has Become Apple Suppliers’ Hub
All of the key Apple suppliers, including Foxconn, Pegatron, Tata Electronics, and Jabil, will be located within the state as a result of this. The announcement stated that this would result in the transformation of Trichy and the creation of a new electronics hub.
Additionally, the Chief Minister stated that Rockwell Automation is expanding its manufacturing plans in the state by investing INR 666 crore in Kanchipuram, which will create 365 new jobs. A memorandum of understanding has been signed with Autodesk to “skill youth and boost MSMEs and startups, strengthening our overall industrial ecosystem.”
Following the signing of deals with Nokia, PayPal, Applied Materials, Yield Engineering Systems, Microchip, and Infinx on August 30, the government of Tamil Nadu has now inked agreements with these companies. The agreements were signed by Chief Minister MK Stalin and Industries Minister TRB Rajaa, both of whom are currently in the United States.
CM Encouraging Investors to Invest More
An R&D center for Nokia, which will be one of their largest fixed network test beds in the world, will be established at SIPCOT in Siruseri, Chengalpattu, for INR 450 crore. The center will be used for the development of innovations in 10G, 25G, 50G, and 100G PON, as well as fixed wireless access and MDU solutions. The institution will also generate 100 jobs, according to a statement released by the state industries department.
Furthermore, CM Stalin on September 8th extended an invitation to senior officials of BNY Mellon Corporation (The Bank of New York Mellon Corporation) to make fresh investments in the state.
A conversation about the exploration of new investment prospects in artificial intelligence was held on September 7 with BNY Mellon by the CM, who is presently on a tour of the United States.
Rishi Mundra
Muskaan Kapoor
