Apple will be sourcing almost its entire line of iPhones sold in the US -- about 60 million phones a year -- from assembly facilities in India, CEO Tim Cook said Thursday. The planned move comes against the backdrop of the Trump administration imposing tariffs against China of up to 145%.

Foxconn and Tata are allegedly in talks to increase production of Apple hardware. Consumers might see a slight price increase for these devices.

Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting its supply chain.