Cook: Apple can't live without China and promises to increase investment

According to news on March 22, Apple CEO Tim Cook said that he will further increase investment in China.

In an interview, Cook affirmed China's status as an important market and production base for Apple products and said that he would increase investment in China.

He emphasized that "no supply chain in the world is more critical than China" and praised the modernization level and efficient manufacturing capabilities of Chinese factories.

Apple plans to achieve the goal of carbon neutrality for all of its products by 2030. Cook pointed out that this requires the support of China, and also said that Apple is investing heavily in generative artificial intelligence (AI).

Although the Chinese market contributed $21 billion in revenue to Apple in the fourth quarter of last year, accounting for 17% of sales, it fell 13% year-on-year.

According to Counterpoint data, iPhone sales in the first six weeks of 2024 dropped by 24% year-on-year, and its market share in the Chinese smartphone market dropped to 15.7%.

At the same time, sales of Chinese telecom giant Huawei increased significantly by 64%.

There may be many reasons for the slowdown in iPhone sales, including intensified competition from Huawei, aggressive pricing by Chinese manufacturers, and the modest upgrade of iPhone 15.

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