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6/19, 10:30 AM (Source: TeleTrader)
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Apple mulls moving up to 30% of output out of China - report

United States tech giant Apple Inc. is considering moving approximately 15-30% of its production out of China to Southeast Asia, Nikkei Asian Review reported on Tuesday, citing sources familiar with the matter. According to the report, the company asked its suppliers to analyze the costs of shifting its output capacities as it prepares for major changes in its supply chain.

"With or without the final round of the $300 billion tariff, Apple is following the big trend [to diversify production]," one of the sources said, confirming that regardless of the result of the current trade dispute between Washington and Beijing, Apple is following a broader trend of shifting production out of the world's second largest economy.

Following the news, Apple stock was 0.16% in the green in Wednesday's premarket trading on Wall Street.

Breaking the News / SS