Apple failed to convince the government of India to import refurbished iPhones, consequently, the tech company lost in trademark fight in China.
Back in 2002, Apple raised the case against Xintong Tiandi which uses the brand “IPHONE” for its products closed to the tech company’s prominent iPhone. Xintong Tiandi Technology sells purses, wallets, phone cases and other leather products.
According to the released reports lately, the Beijing Municiapal High People’s Court sided on XinTong Tiandi Technology. The higher court claimed that Apple did not have enough proof that it was the first one which used the brand name.
Based on the records, Apple iPhones reached China in 2009 but Xintong Tiandi filed its trademark in 2007.
The results of the case, came just after the tumble of iPhone sales in China. In the recent quarterly earnings report of Apple, there was a plunge of 13 in revenue due to the downbeat sales of China.
Also, the access on Apple’s iBooks and iTunes was cut in China after the Beijing imposed a law where all the content shown and circulated in China was required to be stored on the servers of the country.
Due to the recent events, some investors choose to sell their shares in Apple considering China is the second largest market for the tech giant.
In other news, India did not issue the permit to Apple on its appeal to import refurbished iPhones across the region apart from its prior request to build its first ever store in the country.
Amazon planned to sell remodeled iPhones with a big discount in India to escalate its position as the largest smart phone maker globally.
NN Kaul, India’s Telecom Ministry, said that India does not encourage dumping or recycling hazardous materials. Apple had affirmed before that its way of recycling the iPhones is a hundred percent environmental friendly and does not implicate any unsafe materials.
However, the Consumer Electronics and Appliances Manufacturers Association (CEAMA) convinced the telecom ministry that selling refurbished iPhones is a clear violation of the anti-dumping rules of India. Apple hasn’t answered yet the statement of CEAMA. Aside from this, India has been pushing its “Make in India” program to impose tight competition among manufacturers which could be beneficial for the consumers in the long run.
From January to March, the sales of Apple in India soared by almost 56 percent with a 2 percent market share at the moment. However, the acceptance of the Indian market with the latest iPhone SE was not as high as the demand for the iPhone 5S.
During the session earlier, Apple changed hands higher at $95.18, an increase of 1.54 or 1.64 percent after opening at $94.20. It had a session low of 93.68 and a session high of 95.74 with a market capitalization of 520.79 billion. The stock has a price earnings ratio of 10.59 and a dividend yield of 2.40 percent.
Apple has a 52-week high of $132.97 and a 52-week low of $92.00 with an average trading volume daily of 58,616.194. The California based multi-tech company remains to be on the top of all publicly traded companies in terms of market capitalization.