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US-China Trade War Could Make iPhones 3 Percent more Costly

According to Ives, Apple's costs could soar higher if the Trump administration follows through with a plan to add an additional $325 billion in tariffs to Chinese goods.

IANS

Updated:May 15, 2019, 1:48 PM IST
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US-China Trade War Could Make iPhones 3 Percent more Costly
US-China Trade War Could Make iPhones 3 Percent more Costly
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The ongoing trade-war between the US and China has caused Apple's iPhone production costs to rise as much as 3 percent because of the new retaliatory tariffs imposed by Beijing. "Tariffs on the device's Chinese-made batteries and other components would increase its manufacturing cost by 2 percent to 3 percent," Fortune quoted a Wedbush analyst Dan Ives as telling investors.

To recoup the same profit on each iPhone sold as before, Apple would need to increase iPhone prices by a similar amount. "The price of an iPhone XS, for example, would rise from $999 to as much as $1,029," the report said. According to Ives, Apple's costs could soar higher if the Trump administration follows through with a plan to add an additional $325 billion in tariffs to Chinese goods. If that happens, iPhones would cost an extra $120 each to produce.

Ives' estimates are just the latest by analysts about the impact of the U.S.-China trade war, the report added. On May 10, that fight entered a new phase when President Donald Trump's administration announced $200 billion in new tariffs on Chinese imports. In response, China on Monday retaliated by announcing $60 billion in tariffs on US-produced batteries, coffee, and other products. Those tariffs would take effect on June 1.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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