Business
The rush for iPhones sees Apple register all-time revenue record in India: CEO Tim Cook – The Times of India
NEW DELHI: Apple’s operations in India shone once again for the US tech and electronics major, which set an all-time revenue record in the country just as it recorded an eight per cent growth in global revenues, at $102.5 billion, led by “a tremendous response” to the new iPhone 17 series and the previous-gen iPhone 16. Tim Cook, the global CEO of Apple, said the company is hoping for a further surge in the sales momentum during the Christmas and New Year’s season, even as it battles constraints in fulfilling customer demand, along with some delays in shipments to the crucial Chinese market. “Turning to retail, we’re heading into our busiest time of year with our best-ever lineup.”India stood out once again for its stellar performance, not just in the production of iPhones but also because of the strong revenues. “We also set a September quarter revenue record in emerging markets and an all-time revenue record in India,” Cook said while releasing global financial numbers.He attributed the surge to growth in the retail footprint of the company across geographies, including in India. “In the last few months, we’ve opened new stores in emerging markets like India and the UAE and new locations in the US and China.”Cook said the acceptance of the new iPhone series has seen the company register growth in the vast majority of markets. It had September quarter revenue records in dozens of markets, including the U.S., Canada, Latin America, Western Europe, the Middle East, Japan, Korea, and South Asia.Kevan Parekh, the CFO of Apple, also had words of praise for India, a market that was amongst the countries that saw the biggest surge in demand for iPhones. “iPhone revenue was $49 billion, up 6% year-over-year, driven by the iPhone 16 family. iPhone grew in the vast majority of the markets we track, with September quarter records in many emerging markets, including Latin America, the Middle East, and South Asia, and an all-time record in India.”Apple said that the iPhone active installed base grew to an all-time high across the world, and it set a September quarter record for upgraders. “According to the recent survey from World Panel, the iPhone was a top-selling model in the U.S., urban China, the UK, France, Australia, and Japan. We continue to see very high levels of customer satisfaction in the U.S. at 98% as measured by 451 Research.”The company has said it does not intend to slow down expansion in India – both for production of iPhones or in broadening retail or business/sales operations – despite geopolitical tensions as diplomatic relations between India and the U.S. remain challenging over the Trump administration’s tariffs decisions and purchase of Russian oil by New Delhi.Apple management has told the Indian government that the company continues to actively pursue its expansion plans in India. Factories of Taiwanese Foxconn as well as the Tata group in India, are not only making iPhones for India but also for meeting the demands in the US market. The company has also been witnessing a strong growth in demand in the domestic consumption of iPhones in India.
Business
Rupee rebounds! Currency recovers on likely RBI intervention after opening at 91.07 vs US dollar; biggest single-day gain in 7 months – The Times of India
Rupee stayed under pressure on Wednesday, opening at a record low of 91.07 against the US dollar, down 0.05% from its previous close, before clawing back part of its losses, likely supported by intervention from the Reserve Bank of India (RBI), Reuters reported.The central bank stepped in aggressively after the currency hit record lows for four straight sessions, triggering its strongest intraday recovery in about seven months. The rupee had been weighed down by sustained portfolio outflows and an ongoing stalemate in US–India trade talks.After opening near 91.07, the rupee rebounded sharply, rising to an intraday high of 89.75 on the interbank order matching system from levels close to 91 seen before the intervention.
Market participants noted that Wednesday’s intervention mirrored RBI actions in October and November, when it stepped in on multiple occasions to curb one-way moves in the currency.Earlier on Tuesday, the domestic currency breached the 91-per-dollar mark for the first time during intraday trade, touching an all-time low of 91.14 before recovering partially to close 15 paise weaker at 90.93. Traders said the decline came despite weakness in the US dollar and a sharp fall in global crude oil prices.Rupee has been under sustained stress in recent sessions. It slipped past the 90-per-dollar level on Monday and has hit fresh record lows for the third straight session, driven by concerns over a prolonged deadlock in India–US trade talks and persistent portfolio outflows. Over the past 10 trading sessions, the currency has fallen from around 90 to 91 against the dollar, losing nearly 1% in just the last five sessions. Traders said the period was marked by strong dollar demand and a disconnect between the rupee and other Asian currencies, alongside growing interest in speculative short positions.So far this year, the rupee is among the worst-performing global currencies, down about 6% against the greenback. A widening trade deficit, punitive 50% US tariffs and steady investment outflows have pushed the currency to record lows near the 91 level.
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From a modest garage to a IT powerhouse, his journey reshaped India’s tech dreams. But what truly sets him apart is how quietly his wealth flows back into society every single day
Shiv Nadar founded HCL in a garage in 1976, growing it into a global IT giant. (Photo Credit: Shiv Nadar Foundation)
Success Story: One name stands out whenever India’s IT success stories are told: Shiv Nadar. What began in a modest garage in 1976 went on to become Hindustan Computers Limited (HCL), one of India’s leading global IT companies.
Today, Shiv Nadar is not only a celebrated entrepreneur but also one of the country’s most generous philanthropists, donating nearly Rs 7.4 crore every day.
From A Small Garage: The Birth Of HCL
Shiv Nadar was born on July 14, 1945, in the Tiruchirappalli district of Tamil Nadu. After completing his engineering education, he joined the DCM Group. During his time there, discussions with colleagues about the future of computers and electronics in India sparked a bold idea, that is, to start something of their own.
In 1976, Shiv Nadar and a small group of engineers founded HCL from a garage in Delhi. Initially, the company focused on computer hardware and electronic products, with a clear aim: to bring computer technology to India and create employment opportunities for young professionals.
Challenges On The Road To Success
The early years were far from easy. HCL faced financial constraints, technical hurdles, and intense market competition. However, Shiv Nadar’s long-term vision and commitment to innovation kept the company moving forward. He firmly believed that technology should simplify lives and drive progress for everyone.
During the 1980s and 1990s, HCL diversified from hardware manufacturing into software development and IT services. The company steadily expanded beyond India, establishing operations across the US, Europe, and Asia.
Today, HCL Technologies operates in nearly 60 countries and employs more than 2,22,000 people. It is a major player in areas such as cloud computing, cyber security, digital transformation, and enterprise software solutions.
Passing The Baton To Roshni Nadar Malhotra
After leading HCL for over four decades, Shiv Nadar stepped down as chairman in 2020. He appointed his daughter, Roshni Nadar Malhotra, as the new chairman, making her the first woman to hold the position in the company’s history.
Shiv Nadar now serves as Chairman Emeritus and Strategic Advisor.
According to the Bloomberg Billionaires Index, Shiv Nadar’s net worth stands at $38.2 billion (approx. Rs 3.17 lakh crore), placing him among the world’s richest individuals at 54th position globally. As of now, HCL’s market capitalisation is Rs 4,49,369 crore.
Commitment To Social Service and Philanthropy
Shiv Nadar’s legacy extends far beyond business. Through the Shiv Nadar Foundation, he has made significant contributions to education by establishing schools and universities across India.
As per the ‘EdelGive-Hurun Philanthropy List 2025’, Shiv Nadar and his family topped the list of India’s biggest philanthropists for the fourth time in five years. In the past year alone, the family donated Rs 2,708 crore, averaging Rs 7.4 crore every day. In recognition of his contribution to the IT sector and his vision for empowering India’s youth, Shiv Nadar was awarded the Padma Bhushan in 2008. Today, HCL symbolises India’s technological strength on the global stage.
Shiv Nadar’s journey proves that extraordinary success can begin with the smallest of steps. From a single garage to a global IT empire, his story remains one of vision, perseverance, and purpose.
Click here to add News18 as your preferred news source on Google. December 17, 2025, 08:07 IST
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Warner Bros Discovery will urge its shareholders to reject Paramount Skydance’s $108.4bn (£80.75bn) takeover bid as soon as Wednesday, according to reports.
Paramount has said its offer is “superior” to a $72bn deal that Warner Bros struck with Netflix for its film and streaming businesses.
At the same time, a key backer of Paramount’s attempt to buy Warner Bros, Affinity Partners, has reportedly pulled out of the bid, citing the involvement of “two strong competitors”. Affinity was founded by US businessman and President Donald Trump’s son-in-law Jared Kushner.
Warner Bros declined to comment when contacted by the BBC. Paramount and Affinity have also been asked for a response to the reports.
Warner Bros will advise its shareholders to reject Paramount’s offer for a number of reasons including concerns over how the deal would be financed, according to the Financial Times.
The media giant put itself up for sale in October after receiving “multiple” expressions of interest from potential buyers, including approaches from Paramount Skydance.
On 5 December, Warner Bros Discovery said it had agreed to sell its film and streaming businesses to Netflix.
The following week, Paramount Skydance launched a new offer for the whole company, including its television networks.
Paramount is backed by the billionaire Ellison family, which has close ties to the president.
A takeover of Warner Bros is expected to face scrutiny from competition regulators in the US and Europe.
A new owner of Warner Bros would gain a significant edge in the highly competitive streaming market. It would get a huge library of films and TV shows, including Harry Potter, the MonsterVerse, Friends and the HBO Max streaming service.
Some in the film industry have criticised the plan to merge all or part of Warner Bros with a rival. The Writers Guild of America’s East and West branches called for the merger to be blocked, arguing that it would result in lower wages and job cuts.
The volume of content for viewers would also be reduced, it said.
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