During a significant visit to China on March 22, Apple CEO Tim Cook emphasized the critical role of the country in Apple's business strategy, pledging more investment in the region. Amid concerns over declining revenues and sales in China, with a 13% revenue drop reported in December 2023 and a 24% decrease in iPhone sales in the first half of the current year according to Counterpoint Research, Cook's visit marks a strategic move to bolster Apple's presence and reassure its commitment to the Chinese market. Meetings with China's Minister of Commerce Wang Shouwen and Wang Wentao focused on discussing Apple's development in China and the trade relationship between China and the U.S. Cook announced plans to boost investments in supply chain and R&D in China, highlighting the country's talent resources and innovative vitality. This visit also coincided with the opening of Apple's newest store in Shanghai, signaling an effort to combat falling iPhone sales and rising competition from domestic rivals such as Huawei. Cook's visit was also seen as a clear message to Xi Jinping about Apple's commitment to China.
China woos Apple's Tim Cook, other global CEOs ahead of forum https://t.co/devqBrKYKK
#China official media highlight $AAPL @tim_cook saying China is key market and supply chain partner for @Apple as he meets Commerce Minister. Quote Cook saying US tech giant will raise investment in supply chain, sales, and R&D. https://t.co/PIQVAUul98 https://t.co/u9ZYRPEo5N
$AAPL | Tim Cook's Recent Visit To China Was To Send Out A Clear Message To Xi Jinping, Says Top Analyst: 'Apple Is Committed To China' https://t.co/cIt05bN9Nq
Apple Inc. plans to invest further in research in China, Chief Executive Officer Tim Cook said as he continues his high-profile visit to the country. https://t.co/FP6dwvel3J
🇨🇳 🤝 Apple CEO Tim Cook has met with the Minister of the Chinese Ministry of Commerce Wang Wentao. Cook reportedly told the Minister that China is “is rich in talent resources and innovative vitality.” https://t.co/NmWrhYmRlC
#China commerce minister meets Apple's Tim Cook The meeting came a day after Cook opened Apple's newest store in Shanghai, as the phone maker battles falling iPhone sales in China and rising competition from domestic rivals such as Huawei. https://t.co/p4nv2jUSiI
#China's Commerce Minister meets #Apple CEO Tim Cook https://t.co/tImxhQi5Qx
Apple plans to boost investment in research in China, Chief Executive Officer Tim Cook said on a high-profile visit to the country https://t.co/hPFRZKYNIR
⚡️China's Minister of Commerce Wang Shouwen met Apple CEO Tim Cook on March 22. Both discussed $AAPL's development in #China and the trade relationship between China and the U.S. 🇨🇳🇺🇸 Tim Cook said Apple is committed to expanding investments in supply chain and R&D in China. https://t.co/opQ9WokOhy https://t.co/GeQRJqLON7
Tim Cook’s visit to China this week was more noteworthy to me than the DOJ news. The backdrop of his visit is concerning: In Dec-23, China revenue was down 13%. Early in March, Counterpoint Research reported iPhone sales in China were down 24% in the first half of the current…
Apple CEO Tim Cook is on a charm offensive in China as the U.S. puts the squeeze on the iPhone maker. https://t.co/Scioe8Shi9
Apple doubling down on China? https://t.co/WBWSJPniFk
#FPTech: China has a ‘critical’ role in Apple’s business, says CEO Tim Cook, pledges more investment https://t.co/gADdnC58vo