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Minister of Industry and Information Technology, Xinzhoulong, met with Apple CEO Tim Cook

Market IntelWednesday, Oct 23, 2024 1:10 am ET

1min read

According to the official WeChat account of the Ministry of Industry and Information Technology, on October 23, Minister of Industry and Information Technology Jin Zhuanglong met with Tim Cook, CEO of Apple, in Beijing, and exchanged views on Apple's development in China, network data security management, cloud services, etc.Cook: Continuously increase investment in ChinaJin Zhuanglong said that in recent years, China has opened up the telecommunications sector in an orderly manner, creating new opportunities for foreign enterprises to invest and do business in China. We will continue to expand high-level opening-up, vigorously promote the digital industry and industrial digitization, and provide more opportunities and a better environment for foreign investors. We hope that Apple will continue to focus on the Chinese market, increase its R&D investment, and grow together with Chinese enterprises to share the dividends of high-quality development.Cook said that Apple is willing to actively grasp the opportunities of China's opening-up and continuously increase its investment in China to help the high-quality development of the industrial chain and supply chain.Sina Finance's Weibo said that on the morning of October 23, Cook visited Sina Finance and exchanged views with CEO Wang Gaofei.Source: WeiboiPhone 16 discountThis is Cook's second visit to China this year. In March, Cook once attended the opening ceremony of an Apple store in Shanghai's Jing'an District.According to Apple's financial performance in the third fiscal quarter of 2024, i.e., the second quarter of the natural year 2024, the Company's total revenue was US$85.78 billion, up 5% YoY; net profit was US$21.45 billion, up 7.9% YoY. Among them, Apple's revenue in Greater China was US$14.728 billion, down 6.5% YoY. According to Canalys, Apple's global shipments grew 6% YoY in the second quarter of this year, but its shipments in China ranked sixth, behind Vivo, Oppo, Honor, Huawei and Xiaomi. Recently, Apple's official flagship store on the Tmall platform announced preferential policies for the Double Eleven e-commerce festival, and the newly released iPhone 16 series has been discounted.

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