Donald Trump said Thursday that he told Apple CEO Tim Cook he opposes the company building products in India, according to CNBC. Trump referenced Apple’s February pledge to invest $500 billion in the U.S. and expressed frustration over the company’s continued shift away from China by building its supply chain in India. Apple aims to make 25% of its iPhones in India within a few years, as it seeks to reduce its reliance on Chinese production, where about 90% of iPhones are currently assembled. Experts say relocating iPhone production to the U.S. is highly unlikely due to cost concerns. Estimates suggest a U.S.-made iPhone would range from $1,500 to $3,500.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Donald Trump said Thursday that he told Apple CEO Tim Cook he opposes the company building
00:07products in India, according to CNBC. Trump referenced Apple's February pledge to invest
00:14$500 billion in the U.S. and expressed frustration over the company's continued shift away from
00:20China by building out its supply chain in India. Apple aims to make 25% of its iPhones in India
00:28within a few years, as it seeks to reduce its reliance on Chinese production, where about
00:3490% of iPhones are currently assembled. Experts say relocating iPhone production to the U.S.
00:41is highly unlikely due to cost concerns. Estimates suggest the price of U.S.-made iPhone would range
00:49from $1,500 to $3,500. For all things money, visit Benzinga.com slash GSTV.