Latest news with #India-assembled
Yahoo
a day ago
- Business
- Yahoo
Apple's $4.4B India Play: The Secret iPhone Shift That's Reshaping U.S. Supply Chains
Apple (NASDAQ:AAPL) is ramping up its India productionand fast. From January through May 2025, Foxconn (FXCOF) shipped $4.4 billion worth of India-assembled iPhones to the U.S., already beating 2024's full-year total of $3.7 billion. Between March and May, a staggering 97% of Foxconn's $3.2 billion exports went straight to the U.S., compared to just 50% last year. The push isn't subtle: Apple has been flying out iPhone 13, 14, 16, and 16e models on chartered planes and pressing Indian officials to cut customs clearance at Chennai airport from 30 hours down to six. Warning! GuruFocus has detected 6 Warning Sign with MSFT. This shift comes as Apple looks to de-risk from China ahead of what could be another round of sweeping tariffs. Donald Trump has floated a 55% duty on Chinese goods and slammed Apple's expansion into India, reportedly telling CEO Tim Cook, We are not interested in you building in India. India, meanwhile, is trying to dodge a separate 26% reciprocal tariff on top of its standard 10%. With the stakes this high, Apple's move to reroute its supply chain through India could be less about costand more about survival. It's also about time. Apple still sells 60 million iPhones a year in the U.S., with about 80% made in China. Tata Electronics, Apple's smaller Indian partner, is also stepping up. Nearly 86% of its March and April shipments went to the U.S., up from 52% across 2024. Analysts at Counterpoint Research believe India-made iPhones could hit 2530% of Apple's global shipments this yearup from just 18% in 2024. But India's still an expensive bet. High import duties on components make local assembly far from cheap. Still, Apple appears willing to absorb the extra costs in exchange for agility. The numbers suggest this isn't a trial run. It's a full pivot. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Apple's $4.4B India Play: The Secret iPhone Shift That's Reshaping U.S. Supply Chains
Apple (NASDAQ:AAPL) is ramping up its India productionand fast. From January through May 2025, Foxconn (FXCOF) shipped $4.4 billion worth of India-assembled iPhones to the U.S., already beating 2024's full-year total of $3.7 billion. Between March and May, a staggering 97% of Foxconn's $3.2 billion exports went straight to the U.S., compared to just 50% last year. The push isn't subtle: Apple has been flying out iPhone 13, 14, 16, and 16e models on chartered planes and pressing Indian officials to cut customs clearance at Chennai airport from 30 hours down to six. Warning! GuruFocus has detected 6 Warning Sign with MSFT. This shift comes as Apple looks to de-risk from China ahead of what could be another round of sweeping tariffs. Donald Trump has floated a 55% duty on Chinese goods and slammed Apple's expansion into India, reportedly telling CEO Tim Cook, We are not interested in you building in India. India, meanwhile, is trying to dodge a separate 26% reciprocal tariff on top of its standard 10%. With the stakes this high, Apple's move to reroute its supply chain through India could be less about costand more about survival. It's also about time. Apple still sells 60 million iPhones a year in the U.S., with about 80% made in China. Tata Electronics, Apple's smaller Indian partner, is also stepping up. Nearly 86% of its March and April shipments went to the U.S., up from 52% across 2024. Analysts at Counterpoint Research believe India-made iPhones could hit 2530% of Apple's global shipments this yearup from just 18% in 2024. But India's still an expensive bet. High import duties on components make local assembly far from cheap. Still, Apple appears willing to absorb the extra costs in exchange for agility. The numbers suggest this isn't a trial run. It's a full pivot. This article first appeared on GuruFocus.
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Business Standard
23-04-2025
- Business
- Business Standard
Tamil Nadu tops electronics exports driven by Apple; up 53% in FY25
Driven by a rapid rise in Apple's India focus, Tamil Nadu has posted a 53 per cent rise in electronic exports during 2024–25 to $14.65 billion, up from $9.56 billion in 2023–24. This comes after the state posted a 78 per cent increase in exports last year, from $5.37 billion in 2022–23. "Tamil Nadu hits a historic high in electronic exports in FY25. That's a staggering 41.23 per cent of India's total electronics exports. Congratulations to the entire electronics ecosystem in the state," said state industries minister TRB Rajaa. In 2024–25, Karnataka became the number two exporting state with $7.85 billion, contributing 22 per cent to the national exports, followed by Uttar Pradesh with $5.26 billion worth of exports and 15 per cent of the national share. The other top states in the list are Maharashtra ($3.51 billion), Gujarat ($1.85 billion), and Telangana ($641.56 million). In FY25, about 80 per cent of the iPhones shipped to the US came from China. But in the same year, the growing demand for iPhones in the US was met by India-assembled phones, including the latest iPhone 16. Apple vendors (Tata Electronics and Foxconn) were able to hit exports of Rs 1.5 trillion (over $17.5 billion) of iPhones at FOB (free on board) value. That's more than double what they had committed to achieve under the scheme to the government in the fourth year. Half of that came from exports to the US. As a result, India's share in the global production value of iPhones has now hit between 18 and 20 per cent. Interestingly, out of around 14 existing manufacturing units in Apple's supply chain, more than seven are already in Tamil Nadu. This is at a time when the American technology giant is increasing production in India through its biggest vendors—Foxconn, Pegatron, Tata Electronics, and Wistron—to increase production capacity in India. The existing seven suppliers in Tamil Nadu are Tata Electronics, Flex, Hon Hai Precision Industry Company (the formal name of Foxconn), Lingyi iTech, On Semiconductor, Pegatron Corporation, Taiwan Surface Mounting Technology, and Zhen Ding Technology Holding.
