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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8 cyber crooks held for investment fraud racket, police say Rs 4 crore routed via mule accounts
New Delhi (PTI): The Delhi Police has busted an inter-state investment fraud racket operated by a handler based in Cambodia, an official said on Sunday.
Police have arrested eight people following raids conducted across Telangana, Uttar Pradesh, Rajasthan and Delhi and claimed to have uncovered Rs 4 crore which was routed into mule accounts within just 14 days, he said.
The arrests were made after a 42-year-old woman from Vasant Kunj was cheated of Rs 15.58 lakh on the pretext of high-return stock market investments, Deputy Commissioner of Police (Southwest) Amit Goel said.
"WhatsApp numbers used to contact victims were being operated from Cambodia, while Indian associates facilitated the opening and operation of mule accounts on a commission basis," the DCP said.
Those arrested have been identified as Vanapatla Sunil Kumar (43), Sakinala Shankar (61), Manoj Yadav (38), Sandeep Singh (30), Aditya Pratap Singh (23), Rahul (30), Sheru (38) and Sompal (34).
"We have recovered 10 high-end mobile phones and 13 SIM cards from the accused, which were allegedly used to operate multiple mule bank accounts, transfer cheated money and communicate with handlers abroad," the DCP said.
According to police, an e-FIR was registered on November 7, last year, after the complainant reported being lured through WhatsApp messages offering expert guidance in stock trading with assured returns.
"She was persuaded to transfer Rs 15.58 lakh to various accounts controlled by the fraudsters. A team traced the money trail using technical surveillance and digital forensics. Investigators identified Sunil Kumar, a resident of Telangana, as a key supplier of mule bank accounts.
"He allegedly opened a fake firm in Keesara and arranged a current account in a private bank for routing cyber fraud proceeds," the official added.
During interrogation, Kumar disclosed the involvement of Sakinala Shankar and Manoj Yadav. Subsequent raids led to the arrest of Yadav from Sant Kabir Nagar, followed by Sandeep Singh from Banaras, who managed account operations in Lucknow, police said.
Further surveillance resulted in the arrest of Aditya Pratap Singh from Kota in Rajasthan. Singh allegedly arranged mule accounts across India and shared their access with foreign handlers through social media.
The cheated funds were then layered through multiple Indian bank accounts, including those operated by Sompal and Rahul, to obscure the money trail before being supplied to handlers abroad, said the officer.
Sompal, an MBA graduate who earlier ran a software company, allegedly provided his corporate account for bulk transactions after his business became non-operational.
Police said 51 cybercrime complaints were linked to his account alone, while a total of 63 complaints were found connected to the network.
