Apple expects $900m hit from US tariffs, shifts majority of iPhone production to India
Friday, 2 May 2025 () Apple reported strong first-quarter profits, but CEO Tim Cook cautioned about US tariffs potentially costing the company $900 million this quarter. To mitigate this, Apple is shifting production, with most iPhones sold in the US originating from India. "We are not able to precisely estimate the impact of tariffs, as we are uncertain of potential future actions prior to the end of the quarter," news agency Reuters quoted Tim Cook as saying.
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Apple dramatically increased iPhone exports from India to the US in March 2025, reaching 97.6% of total exports, driven by concerns over potential tariffs on... IndiaTimes
Friday, 2 May 2025 ()
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