Apple Boosts iPhone Exports from India by 76% Amid Supply Chain Shift

Published 1 days agoAAPL

Apple Boosts iPhone Exports from India by 76% Amid Supply Chain Shift

Apple's exports of iPhones from India to the United States have soared, with a remarkable 76% increase in April 2025. In March 2025 alone, Apple exported iPhones valued at nearly ₹20,000 crore, equivalent to approximately $2.5 billion, contributing to a total of ₹1.5 lakh crore or about $18.75 billion in exports for the fiscal year 2024-25. This growth far exceeds Apple's initial targets under the Production-Linked Incentive scheme, doubling their projected goals, as noted by India Today.

Key to this growth is Apple's diversification of its supply chain, a move designed to circumvent potential tariffs on Chinese imports. Notably, Apple aims to shift all U.S.-bound iPhone manufacturing to India by the end of 2025. Furthermore, Foxconn, a crucial Apple supplier, has invested $1.5 billion in a new display module assembly facility near Chennai, expected to create around 14,000 jobs and support Apple's production needs, according to the Financial Times.

Additionally, these efforts are part of Apple's strategy to enhance its manufacturing base in response to trade policy threats, such as former President Donald Trump's proposed 25% tariff on Apple and Samsung devices unless production is moved to the U.S. Apple's increased manufacturing footprint in India not only mitigates the impact of Chinese tariffs but also aligns with India's 'Make in India' initiative, significantly boosting the nation's smartphone export sector, which saw exports rise to $16.5 billion in the 2023-24 fiscal year from $12 billion the previous year.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Trump Administration Halts $2.92 Billion Loan for Sunnova Energy

Trump Administration Halts $2.92 Billion Loan for Sunnova Energy

6 minutes agoNOVA

The Trump administration has decided to cancel a significant $2.92 billion partial loan guarantee previously granted to Sunnova Energy, a leading U.S. residential solar panel installer. The Department of Energy has "de-obligated" the commitment under Project Hestia, effectively removing the federal backing for the planned solar initiative, Reuters reported. Project Hestia was launched in April 2023 during the Biden administration with the intention of supporting around 100,000 rooftop solar installations, mainly targeting low-income households. This initiative was set to be the largest solar power financing commitment made by the Department of Energy. However, rising interest rates and the Inflation Reduction Act's tax credits had already led Sunnova to explore other financing strategies. Sunnova has also been grappling with financial difficulties, issuing a "going concern" warning earlier this year, highlighting doubts about their sustainability. The cancellation of this loan guarantee happens amidst a broader energy policy shift under the Trump administration, which prioritizes oil and gas development while reassessing clean energy support, particularly through the DOE's Loan Programs Office.

Synopsys Sets Cautious Revenue Target Due to U.S.-China Restrictions

Synopsys Sets Cautious Revenue Target Due to U.S.-China Restrictions

36 minutes agoSNPS

Synopsys, a prominent player in the electronic design automation software industry, has announced a fiscal year 2025 revenue target of $6.8 billion. This projection reflects the company's cautious outlook amid recent U.S. government actions affecting its business in China. Specifically, the U.S. Department of Commerce has mandated that EDA software providers, including Synopsys, halt sales to Chinese firms as part of efforts to slow China's technological progress. The company's revenue forecast of $6.75 billion to $6.8 billion slightly undercuts Wall Street's expectation of $6.91 billion, as reported by Reuters. China is a significant market for Synopsys, contributing approximately 16% to its overall revenue. The U.S. export restrictions are anticipated to decrease Synopsys’s revenue from the region. In response to the announcement of these restrictions, Synopsys’s share prices fell by 6.6% but saw a 3% recovery in after-hours trading. In a strategic move to bolster its market position, Synopsys is pursuing the acquisition of Ansys, another engineering software company, for $35 billion. The U.S. Federal Trade Commission, however, has required that both companies divest certain assets to alleviate antitrust concerns. Amid these changes, Synopsys is closely monitoring geopolitical developments, particularly those affecting its operations in China.

HP Inc. Targets $2 Billion Savings Amid Tariff Pressures

HP Inc. Targets $2 Billion Savings Amid Tariff Pressures

51 minutes agoHPQ

HP Inc. has set a strategic goal to save $2 billion by the end of fiscal year 2025, primarily as a response to the challenges posed by U.S. tariffs impacting its supply chain. As part of this initiative, HP has lowered its fiscal 2025 adjusted earnings per share (EPS) forecast to a range of $3.00 to $3.30. This is a reduction from the previous estimate of $3.45 to $3.75, driven by expected slowdowns in the PC market and continued economic volatility globally. Reuters reported that these shifts are mainly due to inflationary pressures linked to these tariffs. Among the cost-cutting strategies, HP has announced plans for up to 2,000 layoffs, which aim to save approximately $300 million annually. This is a component of their "Future Ready" restructuring program, which now targets $1.9 billion in savings by fiscal year 2025. Additionally, HP is focusing on diversifying its supply chain away from China, with the expectation that over 90% of its products sold in North America will be manufactured elsewhere by the end of the designated year, according to CRN. In the financial results for the second quarter ending April 30, HP reported revenue of $13.22 billion, slightly exceeding estimates, yet earnings per share fell short of expectations at 71 cents compared to the expected 80 cents. The Personal Systems segment, which includes PCs, has faced elevated costs due to tariff-related expenses. Despite efforts to move production to countries like Vietnam, Thailand, India, Mexico, and the U.S., the second-quarter results did not meet targets, illustrating the ongoing impact of external economic challenges.

Pure Storage Eyes 11% Revenue Growth with AI and Hyperscale Focus

Pure Storage Eyes 11% Revenue Growth with AI and Hyperscale Focus

1 hours agoPSTG

Pure Storage has affirmed its fiscal year 2026 revenue growth target, predicting an 11% increase to over $3.5 billion. The company is banking on significant developments in artificial intelligence and its integration within hyperscale markets to meet this ambitious projection. The company has expanded its influence in the AI market by securing more than 100 AI customers, highlighted by a notable $10 million deal. For fiscal year 2025, Pure Storage expects its subscription services, such as Evergreen//One and //Flex, to generate a total contract value of around $600 million, according to Markets Insider. Furthermore, Pure Storage is advancing in its engagements with a major hyperscaler, testing integrated solutions, and hopes to secure a design win by the end of the year. Recent innovations, including the release of Pure Fusion™ v2, are helping customers transform their storage systems into enterprise data clouds, benefiting from efficiencies similar to those of hyperscalers. This comes on the heels of a strong fiscal year 2025, where the company surpassed $3 billion in revenue for the first time, setting a solid foundation for its growth trajectory.