Overview

• India’s share of US smartphone imports jumped to 44% in Q2 2025 from 13% a year earlier while China’s share plunged to 25% from 61%.
• Apple’s ‘China Plus One’ strategy accelerated as it began assembling iPhone 16 Pro models in India and dedicated most of its export capacity there.
• Vendors front-loaded inventories ahead of anticipated US tariffs, boosting shipments but widening the gap between shipments and end-user sales.
• US smartphone shipments rose just 1% year-on-year in Q2 2025, reflecting subdued consumer demand despite record manufacturing realignment.
• Samsung’s US shipments grew 38% in Q2, while Apple’s iPhone volumes fell 11%, underscoring shifting competitive dynamics.