The leading smartphone company "Apple" made its mark prominent in China over the past 6 years. While Apple and China relations were going strong it soon came to light that Apple CEO Tim Cook signed the previously secret deal with China's authority that the Apple company would invest around $275 billion in China.
According to an internal report from Apple the deal was signed back in 2016, when Tim Cook was visiting China frequently convincing the government to take regulatory actions which will affect Apple adversely. The deal was made at the time when the local manufactures were giving iPhone sales a tough time in the region.
Tim Cook signed the deal as a means to make its ground within China, when it was facing serious competition by local mobile producing companies.
That 1250-word deal was signed by the Apple relationships team for a better relationship with the Chinese government and to win an audience in China. Direct meeting with China officials was Apple priority after the regulator shut down iTunes books and movies in April 2016.
While the deal was signed privately, it started to be seen publicly when Apple invested 1 billion dollars in ride-sharing services. After Tim Cook and Lisa Jackson a government affairs head along with senior government officials met publicly at Zhongnanhai, the main headquarters things started becoming quite clear and official.
In this deal, Apple pledged to the Chinese government, which committed to Apple to invest in China's economy to grow.
They pledge to help China's manufacturers to use more items or components from local Chinese dealers for its phone and device. Apple signed a deal with Chinese software houses, worked together with Chinese universities, and invested in Chinese tech companies.
Earlier in 2021, iPhone sales in China were returned to Pre-Covid19 era, even though Apple is facing some worldwide chip shortages and supply limitations. As Apple presently tells their suppliers they do expect the iPhone 13 sale to pick up in the holiday season.
While the five-year contract was supposed to end, it still has the possibility to renew if both parties agree. What this means is that despite, many criticism, is Apple still willing to stand its ground in China, after all it is its largest manufacturing country in the world.
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According to an internal report from Apple the deal was signed back in 2016, when Tim Cook was visiting China frequently convincing the government to take regulatory actions which will affect Apple adversely. The deal was made at the time when the local manufactures were giving iPhone sales a tough time in the region.
Tim Cook signed the deal as a means to make its ground within China, when it was facing serious competition by local mobile producing companies.
That 1250-word deal was signed by the Apple relationships team for a better relationship with the Chinese government and to win an audience in China. Direct meeting with China officials was Apple priority after the regulator shut down iTunes books and movies in April 2016.
While the deal was signed privately, it started to be seen publicly when Apple invested 1 billion dollars in ride-sharing services. After Tim Cook and Lisa Jackson a government affairs head along with senior government officials met publicly at Zhongnanhai, the main headquarters things started becoming quite clear and official.
In this deal, Apple pledged to the Chinese government, which committed to Apple to invest in China's economy to grow.
They pledge to help China's manufacturers to use more items or components from local Chinese dealers for its phone and device. Apple signed a deal with Chinese software houses, worked together with Chinese universities, and invested in Chinese tech companies.
Earlier in 2021, iPhone sales in China were returned to Pre-Covid19 era, even though Apple is facing some worldwide chip shortages and supply limitations. As Apple presently tells their suppliers they do expect the iPhone 13 sale to pick up in the holiday season.
While the five-year contract was supposed to end, it still has the possibility to renew if both parties agree. What this means is that despite, many criticism, is Apple still willing to stand its ground in China, after all it is its largest manufacturing country in the world.
