"Panic buying" of iPhones: US customers snap up iPhones before customs start
In Apple Stores and elsewhere, demand for iPhones is said to have skyrocketed over the weekend. Customers fear price increases.
Apple Store Fifth Avenue: Here still without panic buyers.
(Image: Apple)
Confusion and fears about the new US tariffs on goods from numerous countries are leading to initial panic buying in some sectors. The financial news agency Bloomberg reports that iPhones are particularly affected. Since the weekend, Apple stores are said to be full of interested customers who want to buy the smartphones “at the old price”. Almost every customer is asking whether the prices will go up soon, according to an employee. The iPhone is mainly produced in China, and the government under Donald Trump wants a 54 percent tariff on imports from this country in the future. This could mean 700 dollars or more if Apple does not find a solution or reduces its margin.
Apple shares took a hit
The fear is also said to have led to more sales. According to information from people familiar with the figures, the weekend is said to have been significantly stronger than in previous years – at least in major US markets. Previously, Apple's shares had suffered particularly from the tariff plans – there was a veritable bloodbath on the US markets, with particular reference to tech stocks.
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Apple is said to have already prepared itself and is working on new concepts to counter the tariffs – including switching to imports from India, where the tariffs are lower. Apple is also said to have imported many iPhone models into the country in advance to have sufficient stocks. In recent years, Apple has tried to withdraw its procurement from China, which was hit particularly hard by tariffs under the last Trump administration. As a result, production in India and Vietnam was expanded.
Buy while it's still cheaper
Various Apple stores were reportedly still busy on Monday. In the Fifth Avenue store in New York, which is open 24 hours a day, a customer quickly grabbed an iPhone 15 for her sister –, which is said to have been done explicitly because of the customs news. An employee said that he expected the good sales to continue over the coming days.
Apple will probably continue to sell devices that have already been imported into the USA until the summer. The first effects of the tariffs are not likely to be felt until the next quarter. The Group's next figures are expected in May.
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