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Apple CEO Tim Cook says 'majority' of US iPhone sales in Q3 will be 'Made in India'India set yet another quarterly sales record, according to Apple, and the Cupertino, California-based company, among the most valued in the world, is slated to open more retail stores in the country by the end of this year.By Hormaz Fatakia   May 2, 2025, 4:57:26 AM IST (Published)2 Min ReadApple CEO Tim Cook said that majority of the company's trademark iPhones, that will be sold in the US during the ongoing June quarter, will be manufactured in India.

However, Cook neither put a specific number to it, nor did he give a target of where does he see this number by the end of Apple's fiscal year.

"For the June quarter, we do expect the majority of the iPhones sold in the US will have India as their country of origin," Cook told analysts during the company's earnings call. "I would not want to predict the mix of production in the future, but I wanted to give you clarity for the June quarter," he added.

Cook also said that China will continue to be the country of origin for a vast majority of Apple product sales outside the US. Currently, any imports from China to the US attract a 145% tariff and talks between the two countries are currently at an impasse.

In contract, India has a 27% reciprocal tariff rate imposed by the US from April 2, but the country, according to the Trump administration, could be the first one to sign a deal with the US.

India set yet another quarterly sales record, according to Apple, and the Cupertino, California-based company, among the most valued in the world, is slated to open more retail stores in the country by the end of this year.

Apple has warned in its quarterly earnings statement that subject to tariff policies remaining as they are for the rest of the quarter, it could add $900 million to their costs for the June quarter. CEO Cook also said that it is "very difficult" to predict the tariff impact beyond the June quarter.

Apple shares fell 4% in extended trading after the company's China sales during the quarter declined from last year and post the warning on tariffs. The company currently has a market capitalisation of over $3 trillion.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsAppleApple CEO Tim CookApple iPhonemade in india