Computer and electronics makers are likely to face higher production costs after President Donald Trump announced new reciprocal tariffs on Asian nations. Trump said the reciprocal tariff rate on China will be 34%.

Apple stock was falling sharply early on Thursday after President Donald Trump’s tariff announcement. Its exposure to China means it potentially will face a worse hit than other large technology companies.

This marks the first significant machinery import for iPhone production in over six months. Previously, in October 2024, Foxconn had procured specialized equipment worth USD 31.8 million (Rs 267 crore) to begin manufacturing Apple's high-end iPhone 16 Pro series at its Tamil Nadu facility.

Foxconn acquires $32M machinery for Apple production in India amid China-linked delays, plans expansion in Bengaluru. | One of India's leading Digital News Agency offering Breaking News round the clock.

The iPhone maker suffered its worst single-day decline since 2020 as major suppliers in China, Vietnam, and India get caught in the economic crossfire.

Foxconn (Hong Hai) revealed that its Indian subsidiary will procure equipment from Apple's subsidiary, signaling an expansion of Apple product production in India, which is rapidly emerging as a key manufacturing hub for the company.

A new report says that Foxconn will produce double its previous annual total of iPhones in India during 2025, as Apple continues to expand in the country.

Apple’s stock (AAPL) took a sharp dive after President Donald Trump’s latest tariff announcement, with shares plummeting 8.1% in late-morning

Apple is expanding iPhone production in India to reduce reliance on China amid geopolitical tensions and supply chain challenges. If Foxconn achieves its 2025 target of 25–30 million units, India could become a key player in Apple's global supply chain, significantly boosting its role in iPhone manufacturing.