Summary:

Apple CEO Tim Cook stated that the majority of iPhones sold in the United States during the June quarter will be manufactured in India as part of an effort to diversify the supply chain. He also mentioned that iPads, Macs, Apple Watches, and AirPods sold in the United States will be sourced from Vietnam, while most items sold outside the country will continue to be manufactured in China. Apple anticipates the impact of additional tariffs to be roughly Rs. 7,590 crore (US$ 900 million).

Apple emphasized that diversifying its supply chain for resilience will be a continuous endeavor. Given the risks associated with relying on a single location, the company has long sought to establish other supply sources. Apple reported quarterly sales of Rs. 8,04,508 crore (US$ 95.4 billion), up 5%, and earnings per share of Rs. 139 (US$ 1.65), up 8%. High-end electronic items have been exempted from US tariffs, and Apple is increasing its retail presence in India to four outlets.

Source: IBEF

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