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Apple chairman Tim Cook visits Shanghai with China sales under pressure

A guy clutches a suitcase with a new iPhone inside it in Shanghai, China September 22, 2023

SHANGHAI, March 20 (mod1s) - Apple (AAPL.O), opens new tab CEO Tim Cook commended China's role in the firm's supply chain as he visited suppliers like BYD Electronics (0285.HK), opens new tab on Wednesday, local media reported, on a visit that came despite a decline in China sales for the iPhone manufacturer. 

In a tweet on his Weibo social media account, Cook claimed he spent the morning strolling around Shanghai's iconic Bund waterway with Chinese actor Zheng Kai and that he had eaten a traditional breakfast. He did not divulge, however, what other intentions he had for this China visit.

The China Daily stated that Cook had remarked in an interview that "there's no supply chain in the world that's more critical to us than China". 

Cook also visited Wang Chuanfu, founder and president of Apple supplier BYD Electronics, as well as executives from Lens Technology (300433.SZ), opens new tab at the firm's Shanghai headquarters, the China Daily stated. 

Cook's visit comes after the iPhone manufacturer announced that it will establish a new retail location in the heart of the Chinese financial capital on Thursday, and as Apple faces dropping iPhone sales in China and increased competition from local competitors such as Huawei (HWT.UL).

Cook made at least two trips to China, Apple's third-largest market by sales, last year. He also flew to Beijing around the same time last year, when he visited an Apple shop and attended the China Development Forum.


Source: https://www.reuters.com/

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