a mixed bag for netflix. subscriber numbers are off after falling for months. but that is not enough to excite investors. we'll have the latest. apple sets up shop in the indian financial capital as it looks to expand its reach in the world's second—biggest smartphone market. welcome to asia business report with mariko oi. a fuzzy picture for netflix. the streaming giant said it added 1.75 million subscribers in the first three months of this year. that should have been a positive but wall street was actually

expecting the company to have added more paid membership. netflix lost more than 1 million subscribers in the first six months of 2022 and moving forward, the company has also warned of weaker growth in the months ahead. our north america business correspondent samira hussain has the latest. last year, netflix reported not one but two quarters red lost customers. it was the first time the company has reported a loss in subscribers in ten years. these latest results show again in subscribers, and that is good, but it's actually much less than what investors were expecting. netflix had come up with a plan to try and crack down on password sharing and it was meant to rule out in this first quarter but the company decided to hold back until the second quarter of the year. and to try and make up for lost

subscribers last year, netflix had created an ad—funded streaming service which was cheaper but subscribers would need to sit through adverts. if the company thought left its woes in 2022, it seems this earning report doesn't seem like it has. 25 years after it started selling products in india, apple has finally launched the company's first physical retail store in the country. the boss tim cook inaugurated the store in mumbai amid much fanfare and a second store will be launched in new delhi on thursday. but why is apple opening stores now and why are they a big deal? the bbc�*s india correspondent explains. apple says, "hello mumbai." amidst loud cheering, selfies and big crowds of fans and loyalists. apple's india story

is 25 years old, selling iphones, ipads, macbooks through thousands of its licensed premium resellers. but why is the store launch such a big deal? it signals a pivot in how apple views india. now a strategic market for the tech giant. because of a growing customer base and a boost from local manufacturing. apple has always been an aspirational brand but out of the reach for most indians. even now, iphones make up just 4% of the overall smartphone sales but comparing it to i% in 2019 shows the massive growth. it's now the most popular smartphone in in the premium category. all this time in india, we have only been two retail stores, never an apple store, but better late than never. whenever you go to apple or any reseller store, they don't provide a lot of products on the go. here you get every colour, which i've never seen. i've just seen in the pictures, like pink colours, ipad.

this is all you get to see here. apple's retail push has been aggressive in the world's second largest smartphone market. they're offering discounts, financing schemes and launching new phones in india simultaneously as the world. apple is going to play the game of waiting for the economy to grow and purchasing powers to grow and therefore more customers to be able to afford the products. but india is notjust a market to sell products, but make them as well. fitting well in apple's strategy to diversify assembly operations beyond china. it has been making phones since 2017 and today, its three main vendors, which employ some 60,000 workers locally, produce almost 7% of the world's iphones in india. apple exported a record $5 billion worth of iphones from india last year. production estimates provided by apple suppliers suggest the company could shift 12—18% of its total iphone assembly

operations to india over the next few years. add to the production list air pods, ipods, ipads... if india becomes a much bigger market, it will be making much more sense for apple to produce as much as it can in india what is feasible there and if in the process of doing so, a certain amount of these things happen from china, that can be a bonues. it's complete success will depend on how much can its source components locally which will help reduce product costs as well. these apple stores in india, the time when the company moves to diversify its source of revenue for its range of what it's like smartphones, laptops and personal computers. and according to bryan ma from the market intelligence firm idc, expanding in india is the right move because the company has a sizeable share of the premium market.

this is a market that is already the second—biggest smartphone market in the world. even if apple's market share is pretty small, low single digit percentages from a total market perspective, if you look at the premium part of the market, say, $500, $600 and upwards, they've actually got about two—thirds of that market in india so there is that interest and it's a market that is expected to continue to grow, despite all the headwinds that we've seen in the global market. tim cook was also in china not that long ago. do you think this push to diversify away from china will continue and will india be one of the beneficiaries of that? the short answer _ beneficiaries of that? the short answer is _ beneficiaries of that? the short answer is yes. - beneficiaries of that? the short answer is yes. this | short answer is yes. this certainly is, notjust with apple but also the industry, increasingly a trend and desire to diversify outside of china. i think it's pretty obvious why. why have all your eggs in one basket, diversify the risk, the political headwinds, and even for practical purposes, with what we saw in the

pandemic and the changes around that, so there is that moment of happening. india is one of the beneficiaries, it's not the only one. vietnam is another one that comes up quite a bit for discussion including, and there are a few others in latin america that have come up, but the indian government has what they call production linked incentive plan. they are trying to motivate more manufacturing locally through tax breaks and those sorts of things so we've already seen a good part of phones being assembled in india including apple, but like i said, notebooks is a bit harder because you got to get the entire industry, the component ecosystem to move whether to sell a lot of that is still in china and of course, it's not to say apple is going to leave china. china is still going to be that big part of the manufacturing process. as you said, tim cook was already there and the government in china would like to keep as much of ecosystem there as possible, but as a whole, there

is going to be a big rebalancing and some of that shift does benefit some countries like india. european union companies _ countries like india. european union companies have - countries like india. european union companies have now i union companies have now reached a provisional agreement on a plan to boost the semiconductor industry to compete with the us and asia. the deal was announced by sweden which currently leads the european council. the european chips act will involve billions of dollars in the development of advanced semiconductors. the chips are used in a ride range of technological products from cars and phones to supercomputers and spacecraft. united airlines has reported a loss for the first three months of this year but says with summer travel around the corner, things are looking up for the rest of the year. let's bring in our business reporter katie silver who has been monitoring the story. despite the cost of living

crisis, despite moves by the fed to increase interest rates to try and reduce spending. consumers will be demanding flights around the us summer season. investors are happy with that. we have seen the after hours share prices up about 1.5% of the first three months of this year wasn't so shiny. we saw for example a $200 million loss for the airline. $200 million may sound like a significant loss but it is far smaller than the same time last year. then we saw for example a $1.1; billion loss. what is causing this loss? first of all, the high cost of jet fuel. the crisis in ukraine driving up the price of energy. that is making costs the jet fuel far more expensive airlines. the other is the high labour costs. the pandemic hit many airlines and laid off staff. now they are having to pay a premium to staff these jobs. but something that is a saving grace for these airlines is the high cost of ticket sales. anyone who has travelled

says there are far fewer seats available on a plane. the capacity is tighter, the price forflying is more expensive, andindeed forflying is more expensive, and indeed there are fewer flights on offer. all that is improving the property margins for airlines, improving the property margins forairlines, both improving the property margins for airlines, both united but also its rivals like delta and american airlines. that is going to help its profit margins going forward but as i say, united as well as other competitors are saying that we should see an uptick in demand over the last three quarters of this year. over the last three quarters of this year-— and the shanghai auto show is under way and this year, ev makers are vying for a bigger share of the chinese market. many carmakers have slashed prices to compete and the most prominent is tesla, which cut prices injanuary to spur demand. according to data from the china passenger car association, the market for evs could be expanding. sales of new energy vehicles rising by more than 21.9% in march.

that is if edition of asia business report. i'll be back tomorrow, so dojoint is if you can. thank you so much for watching. ian ward has turned his living room into a boxcar race track. it's brilliant. he rediscovered his childhood hobby a year ago and says it's really helped with his autism and mental health. . . with his autism and mental health. ., . , health. the scalextric gives me an opportunity _ health. the scalextric gives me an opportunity to _ health. the scalextric gives me an opportunity to be _ health. the scalextric gives me an opportunity to be flexible i an opportunity to be flexible so if i don't like it and get

bored of it, i can take it down to put a completely different truck up. my brain biology accepts that because it is something completely different. ian has also taken his truck out on the road, hosting monthly meats in this local community centre. it’s monthly meats in this local community centre.- monthly meats in this local community centre. it's a great urou - , community centre. it's a great group. this — community centre. it's a great group. this is- — community centre. it's a great group, this is. bringing - group, this is. bringing together like—minded people, we like racing cars and its a great two hours on a sunday evening. mi; great two hours on a sunday evenina. ~ , , great two hours on a sunday evenina. g , ., evening. my first time down here at the _ evening. my first time down here at the club _ evening. my first time down here at the club tonight. - evening. my first time down | here at the club tonight. this is how— here at the club tonight. this is how big clubs start, the small_ is how big clubs start, the small things like a truck on the floor builds into a big club _ the floor builds into a big club and i wish ian the best of luck — the most talked about and viewed story on our website today, the saga of the pink door lady as miranda dixon has become known, really gained international attention after our colleagues at bbc scotland first picked up a story back in october and that is when miranda dixon as you can see here first got

an enforcement notice from edinburgh city council, telling her to repaint herfront door which, as you can see, is this rather vibrant pink colour. today, orjust in the past couple of days, she has in fact finally complied with that notice after failing to fight it. she's painted it this sage green colour. still quite vibrant, you might notice, because miranda dixon is claimed there are other doors on the street there and this historic part of edinburgh which is a world heritage site that also just as vibrant. she sent the bbc this picture of other doors in her neighbourhood, bright yellows, bright reds, bright blues. all of this stems from the issue of conservation and in fact, the edinburgh city council provided these guidelines online which show homeowners what colours to paint their doors to keep everything in the traditional style. you may notice, as miranda pointed out, there is a pink door there on the website. however the edinburgh city

council claims this is a much more muted colour than the colour miranda ended up painting her front door and they issued this statement saying the colour of miranda's door is not in keeping with the historic character and appearance of this listed building in the news town, part of our world heritage site but something that pink door is in keeping with is miranda's style. you can see here the inside of her house is festooned with pink. you've got pink curtains, pink bathtubs, she's got pink hair. and just check out this amazing pink carpet, hot pink carpet inside her townhouse. however, she has been forced to comply with the regulations for now butjudging by the international attention this story is getting, this may not be the last we hear of pink door lady.

hello, i'm paul scott, from the bbc sport centre. coming up on this programme: the real deal: holders real madrid reach the champions league semi—finals at the expense of chelsea. manchester city are given some welcome news ahead of their second leg against bayern munich on wednesday. and buffalo bills player damar hamlin has been cleared to return to play

in the nfl, four months after suffering a cardiac arrest on the field.