Apple(US:AAPL) 智通财经网·2025-07-29 03:41Group 1 - India has overtaken China as the largest source of smartphone sales to the US, accounting for 44% of the market as of June [1] - The share of smartphones assembled in China has significantly decreased from 61% in Q2 2024 to 25% in Q2 2025 [1] - Apple has increased its production efforts in India, contributing to a 240% year-on-year growth in devices manufactured in India [4] Group 2 - Apple's iPhone shipments to the US have declined by 11%, indicating a distortion in its usual supply chain patterns due to excessive inventory accumulation earlier this year [4] - Despite suppliers increasing inventory, market growth was only 1%, suggesting weak demand amid challenging economic conditions [4] - Apple and other manufacturers are shifting production from China to India and Vietnam to mitigate risks associated with tariffs and geopolitical tensions [4]