Apple CEO Tim Cook says iPhone value hikes will not be tied to tariffs

Apple CEO Tim Cook stated value hikes on the latest iPhone fashions aren’t tied to President Donald Trump’s sweeping tariff plans.

“There’s no increase for tariffs in the prices to be totally clear,” Cook informed CNBC’s Jim Cramer from Apple’s Fifth Avenue retailer location in New York City, as the newest iPhone mannequin launched in shops worldwide.

It is without doubt one of the first cases wherein Cook has decisively addressed tariffs in relation to iPhone costs.

Earlier this month, Apple elevated the worth of its iPhone 17 Pro mannequin by $100, whereas sustaining the costs of its entry-level telephones. It additionally launched an Air mannequin that changed the Plus at a steeper value level.

Many analysts had broadly anticipated value hikes regardless of Cook’s makes an attempt to dodge tariffs.

To circumvent the levies, Apple has pivoted its provide chain to import iPhones to the U.S. from decrease tariff international locations, akin to India and Vietnam. Apple has traditionally produced a majority of its merchandise in China.

Cook has additionally made public appearances with Trump as the corporate commits no less than $600 billion towards bolstering U.S. manufacturing and supporting suppliers.

During the June quarter, Cook revealed that the corporate took an $800 million hit from prices tied to tariffs.

At the identical time, Apple faces questions on its sluggish synthetic intelligence rollout, in addition to rising competitors in worldwide markets akin to China.

“We have AI everywhere in the phone,” Cook informed CNBC on Friday. “We just don’t call it” that.