Apple CEO Cook reached a $275 billion deal with China

The Information released a lengthy report introducing Apple CEO Tim Cook’s efforts to develop Apple’s presence in China. The results paved the way.

The report cited Apple’s internal documents and interview quotations. The content involved Cook’s multiple visits to China in the mid-2010s and reached a $275 billion deal. For example, Apple promised to invest heavily in technology infrastructure and talent training in China.

Cook signed this non-binding five-year agreement during his 2016 visit to China, partly to reduce possible negative regulatory actions.

This report contains Apple's commitment to help Chinese manufacturers develop "the most advanced manufacturing technology" and "support the cultivation of high-quality Chinese talent."

In addition, Apple has promised to use more components from Chinese suppliers in its equipment, sign agreements with Chinese software companies, cooperate with Chinese universities in technology, and directly invest in Chinese technology companies... Apple has promised to invest "billions of dollars" again. More than the company's annual expenditure in China.

The agreement stated that some of the funds will be used to build new retail stores, R&D centers and renewable energy projects.

As we all know, China is one of the largest and fastest-growing consumer markets in the world. A number of overseas companies such as Apple have also developed in the market, but major companies must comply with national laws and regulations and government requirements, such as Apple iCloud data storage issues.

Foreign media pointed out that the Chinese market already accounts for 19% of Apple's total sales, an increase of about 4% from a year ago. It also cited data from Counterpoint Research, which showed that Apple had previously become China's largest smartphone brand.

Post a Comment