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Apple CEO Tim Cook made the announcement in a post-earnings call. The CEO’s confirmation came a week after reports said that to India by as early as next year.
Further, the company will manufacture a majority of its other products – iPad, Mac, Apple Watch and AirPods – sold in the US in Vietnam. However, China would continue to be the country of origin for Apple’s sales outside the US.
It is important to highlight that the company’s manufacturing push away from China to India has been in the making for some time now. The ongoing tariff tensions between the US and China has further hastened up this shift.
In 2024, mark in iPhone exports from India in 2024, with total shipments reaching a record $12.8 Bn (around INR 1.08 Lakh Cr).
While trade talks between the US and China are still on the table, Cook said that the current tariff of 145% on imports from China will hit Apple’s bottom line by $900 Mn in the June quarter.
In the March quarter (Q2), Apple’s revenue zoomed 5% year-on-year (YoY) to $95.4 Bn. iPhone sales contributed $46.8 Bn to its top line, while iPad and MacBook sales stood at $6.4 Bn and $7.9 Bn, respectively.
While Apple didn’t explicitly disclose its sales in India, Cook said that the company set a number of quarterly records in the country.
It is important to note that Apple also reported a “” in the preceding December quarter, with iPhone becoming the top selling smartphone model in the country during the quarter.
Meanwhile, Apple also announced that it will set up new retail stores in India starting later this year. Earlier last year, the CEO unveiled Apple’s plans to in the country in Bengaluru, Pune, Delhi NCR and Mumbai.
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