Apple says most US-bound iPhones no longer made in China
Summary
Apple is moving the manufacturing of most iPhones for the US market from China to India and Vietnam. This change comes after the US imposed import taxes that could increase Apple's expenses.Key Facts
- Apple is shifting production of most iPhones to be sold in the USA from China to India and Vietnam.
- Apple CEO Tim Cook stated that the shift in production is because of new US import taxes.
- The new taxes could add around $900 million to Apple's costs in the current quarter.
- The US Government has expressed a desire for Apple to manufacture more products in America.
- Apple plans to invest $500 billion across several US states over the next four years.
- Despite these shifts in production, China will remain the manufacturing hub for Apple products sold outside the US.
- Apple's sales have not been negatively affected by the trade difficulties, with revenues in the first three months of the year rising 5% from the same period last year.
- Amazon, another tech company impacted by the tariffs, is also adapting its strategies to be more resilient.
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