Majority of iPhones sold in US will be made in India in June quarter: Apple CEO Tim Cook
US, May 02 (PTI): Apple will source the majority of the iPhone sold in the US from India in the June quarter while China will produce the vast majority of the devices for other markets amid uncertainty over tax tariffs, a top official said on Friday.
During the company's second-quarter earnings call, Apple Chief Executive Officer Tim Cook said that Vietnam will become the country of origin for almost all iPad, Mac, Apple Watch, and AirPods products sold in the US.
"For the June quarter, we do expect the majority of iPhones sold in the US will have India as their country of origin, and Vietnam to be the country of origin for almost all iPad, Mac, Apple Watch, and AirPods products also sold in the US. China would continue to be the country of origin for the vast majority of total product sales outside the US," Cook said.
He said that for the June quarter, most of the tariff exposure for Apple is at the rate of 20%, which applies to imports to the US for products that have China as their country of origin.
"In addition, for China, there was an additional 125% tariff for imports of certain categories of products announced in April. For us, that's some of our US Apple Care and accessories businesses and brings the total rate in China for these products to at least 145%," Cook said.
He added that the vast majority of Apple's products, including iPhone, Mac, iPad, Apple Watch, and Vision Pro, are currently not subject to the global reciprocal tariffs that were announced in April, as the Commerce Department has initiated a Section 232 investigation into imports of semiconductor manufacturing equipment and downstream products that contain semiconductors.
"For the June quarter, as I talked about in my opening comments, we estimate the impact, assuming that the current global tariff rates, policies, and applications don't change for the balance of the quarter to be $900 million to our costs. I wouldn't want to predict the mix of production in the future, but I wanted to give you clarity for the June quarter of where the country of origins are," Cook said.
Apple reported a 5% increase in revenue to $95.35 billion for the second quarter ended March 29, 2025, up from $90.75 billion in the same period last year, driven mainly by growth in services, Mac and iPad sales.
However, iPhone sales declined by about 2% to $46.84 billion year-over-year from $45.96 billion in the March 2024 quarter.
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HC orders preservation of Sunjay Kapur's assets on plea by Karisma Kapoors' children
New Delhi (PTI): The Delhi High Court on Thursday directed preservation of the assets of late Sunjay Kapur, ruling that all "suspicious circumstances" raised by the industrialist's children from his marriage with actor Karisma Kapoor have to be completely removed by his third wife, Priya Kapur, before the acceptance of his purported last will.
Justice Jyoti Singh passed the interim order on an application filed by Karisma Kapoor's children to restrain Priya Kapur from alienating their father's assets, reportedly worth Rs 30,000 crore.
The interim application was filed in a suit by the children, challenging their late father's purported will of his assets.
"Having heard and on examination of the material on record, I have the considered view that all legitimate suspicious circumstances raised by the plaintiffs will have to be completely removed by defendant number one (Priya Kapur) before the document is accepted as the last will," the judge said.
"Plaintiffs have made out a prima-facie case that the assets which are subject matter need to be protected, preserved, pending disposal of the suit," she added.
Justice Singh ordered that the equity shareholdings in the three Indian companies of the deceased cannot be changed and also restrained the disposal of his personal effects, including artwork.
The court said if the assets are not preserved and Priya Kapur ultimately fails to prove the validity and genuineness of the will, the deceased's children from his marriage with Karisma Kapoor -- his second wife -- and his mother Rani Kapur would be deprived of their legitimate shares.
"I have restrained from alienating, transferring, pledging, liquidating or in any other manner changing the equity shareholdings in the three Indian companies. I have restrained from withdrawing the PF amount. I have restrained from withdrawing monies from the three accounts except to the extent of discharging liabilities towards the children," the judge said.
The court clarified that it has not passed the order with respect to immovable foreign assets.
A detailed copy of the verdict is awaited.
Sunjay Kapur died on June 12, 2025, after collapsing during a polo match in England. He had reportedly suffered a sudden cardiac arrest.
