Apple CEO Tim Cook, who is currently in Shanghai to open the company’s eighth store in the city, has been vocal about China’s critical role in Apple’s supply chain and the company’s commitment to investing in the country. Cook’s desperate PR campaign comes as the iPhone has lost the crown as best selling smartphone in the communist country.
As part of his visit, Cook met with several Chinese suppliers, including BYD, Lens, and Everwin, at Apple’s Shanghai office. The companies showcased their latest products and innovations during the meeting, further reinforcing the strong partnerships between Apple and its Chinese suppliers. In addition to discussing business matters, Cook has also been engaging with the local community during his stay in Shanghai. He shared a post on his Weibo page about touring the city and having breakfast with popular Chinese actor Zheng Kai. The accompanying video quickly gained traction, with half a million views within minutes of posting, as reported by Bloomberg.
However, despite Cook’s assertion that “there’s no supply chain in the world that’s more critical to us than China,” and his commitment to continue investing in the country, Apple hasAccording to a report by Counterpoint Research, the company’s iPhone sales in China fell by 24 percent in the first six weeks of 2024, causing Apple’s market share to slip from 19 percent in 2023 to 15.7 percent.
Chinese companies Vivo, Huawei, and Honor now occupy the top three spots in the smartphone market, with Apple trailing in fourth place. Meng Meng Zhang, a senior analyst at Counterpoint Research, attributed Apple’s decline to “stiff competition at the high end from a resurgent Huawei while getting squeezed in the middle on aggressive pricing from the likes of OPPO, Vivo, and Xiaomi.”House Freedom Caucus Kicks Out Rep.
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