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Time of India
4 hours ago
- Business
- Time of India
Apple earnings under pressure from tariffs, slow AI roll-out
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Long seen as the safest Big Tech bet, Apple is heading into Thursday's earnings with its business facing pressure from U.S. tariffs , tough competition in China and a high-stakes artificial intelligence race it has been late to Street expects the company to post a 4.2% rise in revenue for the April-June quarter to $89.34 billion. Still, the focus will be on how Apple plans to adjust to a landscape that has turned its global supply chain , long a strength, into a potential liability. U.S. President Donald Trump has targeted the consumer electronics giant for its reliance on overseas manufacturing, threatening 25% tariffs on foreign-made iPhones. To limit the damage, Apple shifted production of U.S.-bound iPhones to India , further drawing Trump's total volume of Indian-made smartphones jumped 240% in the second quarter, largely driven by Apple's supply chain shift, according to research firm and investors are now expecting the strategy to help Apple limit the hit from tariffs to well below $900 million it had estimated in are "a very high-profile product that both the Chinese and the U.S. governments understand they have a lever over," D.A. Davidson analyst Gil Luria said. "So until the tariff rates get settled, Apple is very much at risk of being impacted by the current trade dispute."Analysts also said Apple, like many other firms, potentially overestimated tariff costs to leave room for an earnings beat."Most companies we follow have made conservative assumptions by overestimating tariff costs as the goal of management is generally to beat its own guidance," said Jamie Meyers, senior analyst at Apple shareholder Laffer Tengler Investments. Sales of iPhones are expected to have risen 2.2% in Apple's fiscal third quarter, according to data compiled by LSEG, helped by an improvement in demand in China, Apple's third-largest market. In the fiscal second quarter, this increased 1.9%.Counterpoint Research data shows iPhone sales in the world's largest smartphone market jumped 8% in the quarter, fueled by steep discounts during the 618 shopping festival, government-backed trade-in subsidies and targeted iPhone 16 Pro of Apple's other devices are expected to have slowed in the April-June period, while revenue from services - its fastest-growing segment in recent years - is likely to rise to 10.7%. In the January-March period, services revenue grew 11.6%.Doubts still remain over Apple's prospects in China, where domestic companies including Honor are rolling out smartphones packed with AI features such as generative AI photo cautious approach to AI has fueled concerns it is sitting out what could be the industry's biggest growth wave in decades. The company was slow to roll out its Apple Intelligence suite, including a ChatGPT integration, while a long-awaited AI upgrade to Siri has been delayed until next year.
The Print
21 hours ago
- Politics
- The Print
India's air defence system foiled 1,000 Pakistani drone attacks on 9 May—Modi tells Parliament
'On May 9, Pakistan launched 1,000 missiles and drones on India. But all of them were destroyed in the air,' Modi told the Lok Sabha. 'Our air defences crushed their drones. They destroyed and scattered them mid air. Had any of them struck our cities, the destruction would have been unimaginable.' The prime minister called the attempted assault 'a massive but failed provocation' and praised Indian forces for what he described as an unprecedented air defence operation. New Delhi: India's air defence systems intercepted and destroyed 1,000 drones and missiles launched by Pakistan on 9 May during Op Sindoor, Prime Minister Narendra Modi told Parliament Tuesday during a special debate on Op Sindoor. The drone attack, according to Indian intelligence assessments, was part of a broader strategy by Pakistan to overwhelm Indian airspace, using small, fast-moving unmanned aerial systems and low-altitude cruise missiles. Modi praised the indigenous defence manufacturing sector, saying that Indian-made drones and missile systems were central to both Operation Sindoor and the successful repelling of Pakistani aerial threats. 'Today's India is filled with confidence,' Modi said. 'Make in India weapons which included our own drones, missiles, and radar systems were at the core of our response.' He said india's response to the drone attacks should make everyone proud. 'Pakistan made false claims of having destroyed Adampur base. The next day, I went there and proved them wrong,' he added. On 13 May, the PM visited Adampur Air Force Base in Punjab in response to Pakistan's claims of having targeted the base and 'destroyed' the S-400 air defence system during the post-Operation Sindoor conflict. Among the photos PM Modi shared from the visit was an image of him saluting, with the S-400 system air defence system visible in the background. (Edited by Viny Mishra) Also read: Pakistan used Turkish drones, with civil airliner as shield. India then hit its radar station
Nikkei Asia
a day ago
- Business
- Nikkei Asia
US smartphone market growth slows as India-made devices surge: report
An Apple Store in Mumbai. India has become the top manufacturing hub for smartphones sold in the U.S. for the first time, research firm Canalys says. © Reuters (Reuters) -- The United States smartphone market grew just 1% in the second quarter as vendors front-loaded device inventories amid tariff concerns, while supply chain negotiations between China and the United States boosted shipments of Indian-made phones, research firm Canalys said on Monday. The imposition of U.S. tariffs has prompted smartphone makers to reorganize their supply chains to avoid higher import costs and protect their margins. China, a major hub for electronics manufacturing, has been targeted by significant tariffs, pushing hardware makers to explore other Asian countries to maintain low production costs. In response to tariffs, Apple earlier this year sought to make most of its iPhones sold in the United States at factories in India. However, the move drew criticism from U.S. President Donald Trump, who threatened additional tariffs on the Cupertino-based company if it did not produce domestically. "India became the leading manufacturing hub for smartphones sold in the U.S. for the very first time in Q2 2025, largely driven by Apple's accelerated supply chain shift to India amid an uncertain trade landscape between the US and China," said Sanyam Chaurasia, Principal Analyst at Canalys. "The market only grew 1% despite vendors front-loading inventory, indicating tepid demand in an increasingly pressured economic environment and a widening gap between sell-in and sell-through," said Runar Bjorhovde, Senior Analyst at Canalys. The share of U.S. smartphone shipments assembled in China fell from 61% in the second quarter of 2024 to 25% in the second quarter of 2025. India picked up most of the decline, with Indian-made smartphone volume growing 240% year-on-year.
Time of India
a day ago
- Time of India
390 check posts in border dists to prevent liquor movement ahead of elections
Patna: The Bihar Police headquarters on Tuesday announced to set up 390 check posts in 23 border districts to prevent illicit liquor movement ahead of the upcoming assembly elections. The police have also identified locations for an additional 161 check posts in bordering states. As many as 10 teams of special operations group (SOG) under the prohibition unit have been deployed to keep tabs on the liquor trade. On an average, the SOG has been recovering 75,000 litre liquor every month. Amit Kumar Jain, ADG (weaker sections), during a press conference, highlighted increased liquor seizures, arrests and strategic inter-state operations. This year till June, over 16 lakh litre liquor worth over Rs 74 crore has been recovered in the state, marking a 12% increase in average monthly seizures, compared to 2024, he said. The units are especially keeping an eye on hooch traders to prevent incidents of poisoning, even as no such case has been reported this year, added Jain. In order to curb cross-border smuggling, the SOG conducted a total of 19 operations outside the state — seven in Jharkhand, 10 in Uttar Pradesh and two in Chhattisgarh — till July 2025 this year, seizing a total of around 95,000 litre Indian-made foreign liquor (IMFL), and 16 large and six small vehicles, according to a release by the Bihar PHQ. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo The crackdown on liquor-related offences has also led to a substantial number of arrests. "This year till June, a total of 63,442 individuals have been arrested. Over 61% of them were consumers and 39% liquor traders and distributors. The police have also identified 305 wanted accused from other states and are sharing their lists with the authorities concerned," said the release, adding 13,921 liquor traders from outside Bihar have been arrested within the state since April 2016. "A total of nine death penalties and 18 life imprisonments have been given to the offenders from April 2016 to July 2025," it read. In light of the upcoming elections, the Bihar Police is actively coordinating with their counterparts and excise departments of other states like Uttar Pradesh, Punjab, Haryana, West Bengal, Jharkhand, Rajasthan and Arunachal Pradesh to curb the smuggling of IMFL. This coordination includes sharing information to identify the retailers/wholesalers. Meanwhile, the district police have been asked to ensure timely destruction of the seized liquor and photography of the process.
India Today
a day ago
- Business
- India Today
India beats China as top smartphone supplier to the US, thanks to Apple's big iPhone shift
India has become the largest supplier of smartphones to the US for the first time, overtaking China, and it's Apple that has made this possible. According to new data from research firm Canalys (now part of Omdia), Indian-made smartphone shipments to the US jumped by a massive 240 per cent in the second quarter of 2025. These phones now account for 44 per cent of all smartphones shipped into the US during this period, up from just 13 per cent a year ago. At the same time, China's share fell sharply to 25 per cent, down from 61 per cent in Q2 2024. The reason? A mix of shifting supply chains, trade tensions, and Apple's growing dependence on Indian factories to meet US has been steadily ramping up its manufacturing base in India over the past few years, and that effort is now clearly paying off. "India became the leading manufacturing hub for smartphones sold in the US for the very first time in Q2 2025, largely driven by Apple's accelerated supply chain shift to India amid an uncertain trade landscape between the US and China," said Sanyam Chaurasia, Principal Analyst at the US and China continue to clash over tariffs and trade policies, smartphone companies have started to rethink their manufacturing strategies. For Apple, this has meant making more of its iPhones in India — especially the standard models like the iPhone 16 and iPhone 15 — while still leaning on China for the larger-scale production of Pro models. But that balance seems to be shifting. In fact, Apple has already started assembling some iPhone 16 Pro models in India, though its main Pro production still depends on Chinese factories for now. Other brands like Samsung and Motorola have also started sending more India-made phones to the US, but their contribution to this shift is smaller in scale compared to Apple's. Samsung, for instance, still relies heavily on Vietnam for most of its production. Motorola's supply chain is also largely rooted in China, though it has increased output from Indian facilities in recent bigger picture here is that US smartphone makers are clearly looking to diversify where they get their phones assembled. Canalys analysts say that concerns over tariffs and unpredictable trade rules have forced vendors to front-load inventory (acquiring a large amount of inventory earlier than usual or in advance of anticipated needs) and quickly adjust their sourcing plans. India's growing role as a manufacturing base for global smartphone brands means it's becoming a major player in this space, and not just for low-cost phones, but for high-end devices as this dramatic supply chain shift, the US smartphone market itself only grew by only 1 per cent in Q2 2025. iPhone shipments fell 11 per cent year-on-year, while Samsung's shipments grew 38 per cent. Motorola also saw a modest 2 per cent bump, with Google and TCL rounding out the top five brands.- Ends
