Apple Inc.: "Most of the iPhones sold in the United States will be manufactured in India!"
On May 16, South Korean media The Korea Economic Daily published an article stating that Apple Inc. said it plans to have most of the iPhones sold in the United States produced in India by June this year.
Recently, Tim Cook, CEO of Apple Inc., mentioned during a conference call after the release of the company's financial report that "most of the iPhones sold in the United States this quarter (April to June) will be produced in India." He added, "We will continue to diversify our supply chain outside of China. We recognized a long time ago that putting everything in one place carries risks."
The Financial Times previously reported that Apple is rapidly taking action to purchase all or more than 60 million iPhones sold annually in the U.S. from India by the end of next year. With the announcement, this plan seems to be ahead of schedule compared to its original plan. The Financial Times commented, "This decision is bolder and faster than what investors expected."
Before the Trump administration announced large-scale tariffs, Apple sent the largest shipment of iPhones ever to the U.S. from India in March. Apple's main Indian suppliers, Foxconn and Tata, exported $2 billion worth of iPhones to the U.S. in March. This was the highest monthly level ever. The two companies operate five iPhone production plants in India.
Meanwhile, Apple announced in its first-quarter financial report that sales in the Chinese market fell short of expectations. Sales in the China region decreased by 2.3% year-over-year to $16 billion, falling short of market expectations of $16.83 billion.
Cook stated, "Tariffs will result in an additional cost of $900 million this quarter."
Original Source: https://www.toutiao.com/article/1832267363260426/
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