Apple expects $900 million tariff hit as it shifts US iPhone supply to India

Apple CEO Tim Cook said on Thursday that the company expects US tariffs to cost $900 million in the current quarter, even though their impact was 'limited' at the start of this year. While iPhones produced in mainland China still account for the majority of US shipments, production in India ramped up toward the end of the quarter, according to Canalys research manager Le Xuan Chiew.