Apple considers raising iPhone prices

NEW YORK, May 12 (Reuters): Apple is weighing price hikes for its upcoming fall iPhone lineup but is keen to avoid linking any increases to US tariffs on imports from China, where most of its devices are assembled, the Wall Street Journal reported on Monday.

The technology giant's shares were up 7 per cent in premarket trading, tracking gains in the wider market after Washington and Beijing agreed to temporarily slash the reciprocal tariffs on Monday. But Chinese imports will still be subject to a 30 per cent levy in the US

Apple is among the most prominent firms caught in US-China trade tensions, which intensified in recent months after a series of tariffs initiated by President Donald Trump.

The company did not immediately respond to a Reuters request for comment on the WSJ report, which cited people familiar with the matter.

Raising prices could help Apple cushion higher costs stemming from the tariffs that have hampered global supply chains and forced the company to shift more production to India.

Apple said earlier this month that tariffs were expected to add about $900 million in costs during the April-June quarter and that it would source a majority of the iPhones sold in the US in the period from India.