Apple CEO Tim Cook has announced plans to increase the company’s investment in China, following a high-profile meeting with Chinese officials in Beijing.
The tech giant's move will look to strengthen its supply chain presence in the world's largest smartphone market, where it has faced increasing competition from domestic brands. Cook’s remarks were reported by China’s state news agency Xinhua on Thursday.
During a meeting with Jin Zhuanglong, China’s Minister for Industry and Information Technology, Cook stressed on Apple’s commitment to taking advantage of new opportunities arising from China’s ongoing economic reforms. He highlighted the company’s focus on contributing to the “high-quality development” of the country’s industrial and supply chains, signaling Apple’s intention to deepen its ties with Chinese businesses.
The discussions covered various aspects of Apple’s operations in China, including its growth in the market, online data security, and cloud services. This was Cook’s second visit to China in 2024, reflecting the critical role the Chinese market plays in Apple’s global strategy. In recent quarters, the company has seen its market share erode as local competitors gain ground, making these talks particularly significant.
Minister Jin encouraged Apple to expand its footprint in China, invest more in innovation, and collaborate with Chinese firms, aligning with the country’s broader goals for high-quality development. Cook’s comments suggest Apple is eager to maintain a strong foothold in China, not only through increased investment but also by strengthening its partnerships within the local technology ecosystem.
(Inputs from Reuters)
