Apple's Tim Cook Engages In Second High-Stakes Talks With Chinese Commerce Minister Amid iPhone Ban Concerns, China Market Decline
Portfolio Pulse from Ananya Gairola
Apple Inc. CEO Tim Cook has met with China’s commerce minister Wang Wentao for the second time in 2023, amid concerns of a potential iPhone ban by the Xi Jinping administration. The meeting discussed Apple's operations in China and broader U.S.-China relations. Apple's latest iPhone 15 range has failed to replicate the success of its predecessor in China. Additionally, Apple has protested against new Chinese regulations requiring App Store developers to obtain licenses, but has started to comply. There are reports suggesting the Chinese administration's intention to broaden the iPhone ban, initially targeting government employees, possibly extending to other state-run agencies and government-controlled organizations.

October 19, 2023 | 8:05 am
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Apple's operations in China, a significant market for the company, are under threat due to potential iPhone ban and new regulations. This could impact Apple's revenue and stock price.
China accounts for about 20% of Apple's sales. The potential iPhone ban and new regulations could significantly impact Apple's operations in the country, leading to a decline in revenue and potentially affecting the company's stock price.
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