Nearly all Foxconn India iPhones shipping to US as Apple looks to bypass China tariffs
Nearly all the
iPhones exported by
Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50 per cent and a clear sign of
Apple 's efforts to bypass high US tariffs imposed on China.
The numbers, being reported by Reuters for the first time, show Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to countries including the Netherlands, the Czech Republic and Britain.
During March-May, Foxconn exported iPhones worth US$3.2 billion from India, with an average of 97 per cent shipped to the United States, compared to a 2024 average of 50.3 per cent, according to commercially available customs data seen by Reuters.
India iPhone shipments by Foxconn to the United States in May 2025 were worth nearly US$1 billion, the second-highest ever after the record US$1.3 billion worth of devices shipped in March, the data showed.
Apple and Foxconn did not respond to Reuters' requests for comment.
US President Donald Trump holds an iPhone after it rang while he was speaking at the White House on May 23. Photo: Reuters
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South China Morning Post
2 days ago
- South China Morning Post
Nearly all Foxconn India iPhones shipping to US as Apple looks to bypass China tariffs
Nearly all the iPhones exported by Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50 per cent and a clear sign of Apple 's efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to countries including the Netherlands, the Czech Republic and Britain. During March-May, Foxconn exported iPhones worth US$3.2 billion from India, with an average of 97 per cent shipped to the United States, compared to a 2024 average of 50.3 per cent, according to commercially available customs data seen by Reuters. India iPhone shipments by Foxconn to the United States in May 2025 were worth nearly US$1 billion, the second-highest ever after the record US$1.3 billion worth of devices shipped in March, the data showed. Apple and Foxconn did not respond to Reuters' requests for comment. US President Donald Trump holds an iPhone after it rang while he was speaking at the White House on May 23. Photo: Reuters
News.com.au
2 days ago
- News.com.au
Boeing CEO responds after Air India crash
Boeing, the makers of the Air India aircraft – a 787-8 Dreamliner – that crashed shortly after take off, have shared a statement following the horrific tragedy. Flight 171 was carrying 242 passengers and had just left Ahmedabad airport in India's west, heading to London's Gatwick Airport on Thursday, when disaster struck. Captain Sumeet Sabharwal warned the plane was 'losing power' just 11 seconds after lift-off but could do nothing to avert the catastrophe. Among those killed include passengers on the flight, and people who were inside the BJ Medical College and Hospital hostel when the plane crashed into it. Miraculously, one British man, Vishwashkumar Ramesh, survived the incident. His brother, Nayan Kumar Ramesh, told the BBC Mr Ramesh 'has no idea how he survived'. 'We were all in shock as soon as we heard what happened, just utter shock. Speechless,' Nayan said. '(Vishwashkumar) himself has no idea how he survived, how he got out the plane. 'When he called us he was just more worried about my other brother (who was on the flight), like 'Find Ajay, find Ajay'. That's all he cares about at the moment.' 'Our deepest condolences' 'Our deepest condolences go out to the loved ones of the passengers and crew on board Air India Flight 171, as well as everyone affected in Ahmedabad,' Boeing CEO Kelly Ortberg said in a statement. 'I have spoken with Air India Chairman N. Chandrasekaran to offer our full support, and a Boeing team stands ready to support the investigation led by India's Aircraft Accident Investigation Bureau.' The plane maker said it is in contact with Air India and stands ready to support them. Tata Group, which owns Air India, announced it will give 1 crore rupees – the equivalent of around A$179,000 – to the families of each person who was killed in the crash. It will also cover the medical expenses of those injured and provide support for rebuilding the medical hostel that was hit. 'No words can adequately express the grief we feel at this moment,' it said in a statement posted on X, external. Shares down According to AFP, shares of the US plane manufacturer finished down nearly five per cent on Thursday as the pope, King Charles and the president of India expressed sorrow over the tragedy. The calamity, the first deadly crash of a 787, comes just before Mr Ortberg and other aerospace leaders converge at Le Bourget Airport for next week's Paris Air Show. Prior to Thursday, industry insiders expected the focus at Le Bourget to include the aviation sector's adaptation to trade tensions, the latest state-of-the-art flying technologies and the outlook for any improvement in the supply chain that has slowed deliveries from Boeing and rival Airbus. But the crash is also certain to be a major topic of conversation, as well as a source of speculation and sobriety. 'A week from now there probably will be one or two operating hypothesis of what happened that people at the show and the public will be talking about,' said Morningstar analyst Nicolas Owens. Only time will tell what the accident means for Boeing, but Owens still expects the company to rack up additional 787 orders next week in Paris, AFP reported. 'It's highly improbable that people conclude that it's a systemic problem with the engine or the plane,' he said. Plane was scrutinised The crash was the first ever for a Boeing 787 Dreamliner. However, the plane was scrutinised in an April 2024 US Senate hearing that aired criticism from a whistleblower who testified that he was blackballed after reporting serious manufacturing defects on the 787 and the 777. Attorneys representing the whistleblower, Sam Salehpour, called on the FAA to release its findings about the allegations. 'The FAA must assure the public that the Boeing 787 is safe,' said lawyer Lisa Banks. 'While it may take months or years to determine the cause of today's tragic Air India crash, we know that there is an important report sitting on a desk at the FAA about the 787 that needs to become public.' On May 29, Mr Ortberg told a financial conference that the recent approval by US aviation authorities to allow increased 787 output was 'an important milestone' in the company's comeback. Mr Ortberg, who relocated to Seattle to be closer to key manufacturing operations, has generally won plaudits from aviation watchers since joining in August 2024, navigating Boeing through a labour strike and joining President Donald Trump's Middle East delegation. Richard Aboulafia, managing director at consultancy AeroDynamic Advisory, said there is no indication of a 787 design flaw. 'There's inevitably fear,' Aboulafia said of Thursday's stock market reaction. 'It's a tragedy but it's unlikely to affect perceptions of the 787 because there's nothing known at this point and it's got a very good record,' he said. But called the crash 'another significant blow to Boeing's reputation as it competes fiercely with Airbus', which has outsold Boeing in aircraft orders for the past five years and could further erode investor and customer trust in the company's ability to deliver safe, reliable aircraft. Investigators en route to India British and US investigators were en route to western India for an investigation expected to involve reviews of flight data, maintenance records and the background of the crew. 'When an international incident occurs, that government leads the investigation,' said the US Federal Aviation Administration. The ill-fated plane was delivered to Air India in 2014 and had more than 41,000 hours of flying time, according to consultancy Cirium. According to AFP, that makes Thursday's tragedy different from the two fatal Boeing 737 MAX crashes in 2018 and 2019 that involved planes Boeing had only recently delivered to airlines. A central factor in both MAX crashes was the Maneuvering Characteristics Augmentation System (MCAS), a flight handling system that badly malfunctioned, pointing to design flaws. The MAX crashes plunged Boeing into a years-long slump extended by fresh safety problems early in 2024.
CNA
2 days ago
- CNA
Stocks tumble, oil soars as Israel's strike on Iran roils investors
TOKYO :Stocks dived in Asian trade on Friday, led by a selloff in Wall Street futures, while oil prices surged after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. The escalation in hostilities in the Middle East - a major oil producing region - adds a fresh layer of uncertainty for financial markets at a time of heightened pressure on the global economy from U.S. President Donald Trump's aggressive and erratic trade policies. Market reaction was swift. Crude oil jumped about 9 per cent, with Brent futures rallying $6 to $75.36 per barrel and WTI futures $6.16 higher at $74.20 per barrel by 0228 GMT. Gold climbed 1.5 per cent to about $3,434 per ounce, taking it closer to the record high of $3,500.05 from April. U.S. S&P E-mini futures slumped 1.7 per cent and Nasdaq futures skidded 1.8 per cent. Pan-European STOXX 50 futures tumbled 1.6 per cent. Japan's Nikkei lost 1.3 per cent, South Korea's KOSPI dropped 1.1 per cent and Hong Kong's Hang Seng declined 0.8 per cent. "The geopolitical escalation adds another layer of uncertainty to already fragile sentiment," said Charu Chanana, chief investment strategist at Saxo, adding that crude oil and safe-haven assets will remain on an upward trajectory if tensions continue to intensify. Global stocks markets had been poised for a fall following an almost unbroken rally since early April that took the MSCI All-Country World index to an all-time high this week, according to Jessica Amir, a strategist at MooMoo. "There's room for fat to be taken off the table," she said. "It just appears that this is the catalyst that will probably send equities down lower." Israel said it was declaring a state of emergency in anticipation of a missile and drone strike by Tehran, after what it called a "preemptive strike" over Iran's nuclear programme. Iranian state media confirmed on Friday the killing of Iran's Revolutionary Guards Commander Hossein Salami in the Israeli strike. An Israeli defence official had earlier said members of Iran's general staff, including the chief of staff and several senior nuclear scientists were likely killed. U.S. Secretary of State Marco Rubio called Israel's strikes against Iran a "unilateral action" and said Washington was not involved. Tensions had been building as Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked. U.S. and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment programme in Oman on Sunday, according to officials from both countries and their Omani mediators. U.S. Treasuries were bought in the rush for safer assets, sending the yield on 10-year notes to a one-month low of 4.31 per cent. The Swiss franc gained about 0.4 per cent to 0.8072 per U.S. dollar, and fellow safe haven the yen appreciated 0.3 per cent to 143.12 per dollar. Some traders were also attracted to the dollar as a haven, with the dollar index up 0.5 per cent to 98.131. The euro eased 0.4 per cent to $1.1538, giving back a little of its 0.9 per cent overnight jump to the highest since October 2021. Sterling slipped 0.5 per cent to $1.3554, after marking a fresh high since February 2022 at $1.3613 early in the day.
