US technology giant Apple plans to move the manufacturing of iPhones sold in the US to India from China due to potentially higher tariffs against Chinese goods, Reuters reported April 25, citing insiders.
Apple is in discussion with Hon Hai Precision Industry (TPE:2317) or Foxconn and Tata for the planned move, which is currently confidential, the report said.
Tata did not wish to comment, while Apple and Foxconn did not immediately respond to Reuters' requests for comment.
Foxconn's shares rose less than 3% in recent trade.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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