Man arrested at Delhi airport for allegedly smuggling 100 iPhone X handsets worth Rs 85 lakh

A man was arrested by the customs at the Delhi airport for allegedly trying to smuggle in 100 iPhone X handsets, an official said on .

The 53-year-old accused was intercepted by the customs after his arrival from Dubai on Friday.

"Hundred iPhone X handsets worth a total of Rs 85.61 lakh were seized from his baggage after a thorough search," Additional Commissioner of customs at the airport, Amandeep Singh, said. 

In terms of revenue, Apple earned USD 150 billion and USD 34 billion in earnings for the first half of its fiscal year.

Last week Apple Inc reported resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.

Apple's quarterly results



topped Wall Street forecasts, which dropped ahead of the report on growing concern over the iPhone.

Meanwhile in India, the market share of iPhone maker Apple plunged while Samsung dominated the premium smartphone segment in India in the first quarter of 2018, as per two market research reports released. "Apple's share in the premium segment dipped as the volumes dipped by a massive 55% due to decline in shipments for its iPhone 8 and X series.

"Additionally, the increase in import duty on CBUs (completely built units) to 20 per cent during the quarter, led to increase in prices of already expensive iPhones," Counterpoint Research said in its report.The premium segment accounts for 4 per cent of the overall smartphone market in India and three brands -- Samsung, OnePlus and Apple -- contributed to 95 per cent of the overall share in the segment, the report said.