Apple to source most US iPhones from India in June quarter: Apple Chief Executive Officer Mr. Tim Cook

Apple Chief Executive Officer Mr. Tim Cook has confirmed that most iPhones sold in the US market in the June quarter will be made in India. This move is part of Apple’s strategy to diversify its supply chain. He revealed this during an analyst call after announcing the company’s financial results for the March quarter. He also mentioned that almost all iPads, Macs, Apple Watches and AirPods sold in the US in the June quarter will be from Vietnam. However, China will continue to be the country of origin for most total product sales outside the US. Apple expects the impact of the recently announced tariffs on costs to be around Rs. 7,590 crore (US$ 900 million). The tariffs include a 20% IEEPA-related tariff on imports to the US of products from China and an additional 25% tariff on certain categories of products announced in April. IEEPA stands for the International Emergency Economic Powers Act, a US law that allows the President to declare a national emergency and take actions to address it.
He said that diversifying the supply chain to stay resilient will be a continued process for Apple. He highlighted that having everything in one location had too much risk and that opening up new sources of supply for certain parts of the supply chain had been a strategy for some time. Apple posted a quarterly revenue of Rs. 8,04,508 crore (US$ 95.4 billion), up 5% over a year ago, and quarterly diluted earnings per share of Rs. 139 (US$ 1.65), up 8%. The US tariff sanctions have so far excluded high-end tech goods like smartphones. Apple also reported strong performance in various geographies, including India, during the March quarter. India will see Apple expanding its retail presence, taking the total number of retail stores in the country to four.
 

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