Cook: Full of confidence in the Chinese market. Everything is possible here. Apple must increase investment

News on March 23: On the evening of March 21, Apple’s largest store in China opened grandly at Jing’an Temple Plaza in Shanghai. Apple CEO Tim Cook attended the event in person and accepted interviews with many reporters.

He is full of confidence in the Chinese market, saying that "everything is possible" here.

Cook emphasized China’s status as an important market and production base for Apple products and said that he would further increase investment in China.

He praised the modernization level and efficient manufacturing capabilities of Chinese factories and emphasized the criticality of China's supply chain.

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

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

According to Counterpoint data, iPhone sales in the first six weeks of 2024 fell by 24% year-on-year, and the market share dropped to 15.7%. At the same time, Huawei's sales increased significantly by 64%.

The decline in iPhone sales may be due to many factors, including intensified competition from Huawei, aggressive pricing by Chinese manufacturers, and the modest upgrade of iPhone 15.

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