Apple iPhones: 12 percent could be made in India by FY26 – report; Byju’s losses skyrocket

By fiscal year 2026, at least 12 percent of the free-on-board value of Apple’s global iPhone shipments could be made in India, Inc42 reports, citing a report by Business Standard that is behind a paywall. Byju’s, India’s most-valued startup, yesterday, reported losses of Rs. 4,589 crore for the fiscal year that ended March 31, 2021, which is close to a 20-fold increase over the Rs. 231.69 crore adjusted loss for the previous fiscal year, Moneycontrol reports. And SoftBank Group could be planning another Vision Fund, Wall Street Journal reports. Notes: Byju’s, India’s most-valued startup, yesterday, reported losses of Rs. 4,589 crore for the fiscal year that ended March 31, 2021, which is close to a 20-fold increase over the Rs. 231.69 crore losses for the previous fiscal year, Moneycontrol reports. The company's revenue for FY21 fell 3 percent year on year to Rs. 2,428 crore on a consolidated basis, down from Rs. 2,511 crore the previous year, according to Moneycontrol. By the fiscal year 2026, at least 12 percent of the free-on-board value of Apple’s global iPhone shipments could be made in India, Inc42 reports, citing a report by Business Standard on Sep. 12 that is behind a paywall. Apple has been stepping up efforts to boost production in India to reduce its dependence on China, where currently almost all its iPhones are made. According to numbers submitted to the government by Foxconn, Wistron and Pegatron, India might account for at least 12 percent of the free-on-board value of Apple iPhones manufactured by its vendors worldwide. Free-on-board value typically refers to the cost of the goods being shipped including transportation to specific destinations, insurance, loading and unloading and so on. The total value of iPhones sold worldwide could reach $250 billion in FY26 and the total free-on-board of iPhones made in India would be around 12 percent of that, according to the Business Standard repot, as cited by Inc42. SoftBank Group, one of the world’s biggest investors in tech startups, is considering the launch of a new giant fund even though its first and second Vision Funds have been hit with big losses owing to the global tech route, Wall Street Journal reports. The Tokyo-based tech conglomerate, by far the world’s largest startup investor in recent years, would likely use its own cash for what would be the third SoftBank Vision Fund if it moves ahead with the plan, according to the Journal. Sigmoid, a data engineering, analytics and AI solutions company in Silicon Valley, has closed $12 million in Series B funding, in a mix of primary and secondary investments from Sequoia Capital India. Founded in 2013 by IIT alumni Lokesh Anand, Mayur Rustagi and Rahul Kumar Singh, Sigmoid has a team of about 500 data professionals, who offer deep expertise in data engineering, cloud data modernization, artificial intelligence, and DataOps, according to the release. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds