Bloomberg reported on the 8th (local time) that U.S. consumers are flocking to stores to buy iPhones before tariffs are imposed following 'tariff threats' from President Donald Trump.
According to the report, an Apple store employee who requested anonymity noted, 'The store was crowded with people looking to buy mobile phones,' and 'almost all customers asked whether prices would soon rise.' Bloomberg added that customers flocked to Apple stores across the United States over the weekend.
Apple is attempting to diversify its production sites, but still, most iPhones are produced in China.
On the 2nd of this month, President Trump announced mutual tariffs by country, stating that a 34% tariff would be applied to China. This follows his earlier imposition of an additional 20% tariff after taking office.
Amid tariff concerns, the stock market also fluctuated. Apple, which utilizes China as a core production base, was directly impacted.
Apple's stock price has plummeted 19% over the past three trading days. Bloomberg reported, 'The worst three trading days decline since the dot-com bubble burst,' noting that Apple's market capitalization evaporated by $638 billion (approximately 938 trillion won) during this period.
There are also predictions that iPhone prices could rise significantly. UBS analysts analyzed in a report on the 7th that 'due to President Trump's tariff policy, Apple could increase the price of the 'iPhone 16 Pro Max' by up to $350 (approximately 510,000 won).
Apple is reportedly securing inventory and adjusting its supply strategy in anticipation of the effects of tariffs. Notably, it has been reported that Apple plans to bring in more iPhones produced in India, which has relatively low tariffs. The mutual tariff rate for imports from India to the U.S. is 26%.
In recent years, Apple has focused on transferring its production bases to countries like Vietnam. Currently, products such as Apple Watch, Mac, AirPods, and iPads are being produced in Vietnam, with some Mac products also being manufactured in Ireland, Thailand, and Malaysia.