Apple CEO Tim Cook Pledges Increased Investment in China
- tech360.tv
- Oct 16
- 2 min read
Apple CEO Tim Cook pledged to boost the technology giant's investment in China during a meeting with China's industry minister Li Lecheng on Wednesday. The commitment comes as Apple navigates trade tensions between Beijing and Washington.
Many US companies have grown cautious regarding relations with China, particularly as the world's two largest economies clash over tariffs. US President Donald Trump also seeks to promote manufacturing within the United States.
Minister Li Lecheng confirmed Apple's pledge to continue investing in China, according to an official Chinese summary of the Beijing meeting. Specific details about the size of the potential investment were not disclosed.
The California-based company, which has also made investment pledges to Washington, has remained relatively unaffected by the ongoing trade dispute between the United States and China. Other firms, such as Nvidia and Qualcomm, have faced Chinese investigations.
In August, Mr Cook presented President Trump with a custom US-made plaque for Apple's American Manufacturing Program, following an announcement of an additional USD 100 billion investment in domestic manufacturing. Apple had previously made public plans in March for a new clean energy fund in China, valued at USD 101 million.
Apple largely depends on suppliers and factories in China for the assembly of most of its iPhones but has been exploring options to shift some manufacturing capacity to India. Apple COO Sabih Khan visited Lens Technology, a Chinese glass supplier, on Tuesday.
The Changsha-based company, which produces glass covers for Apple products including the iPhone and Apple Watch, reported Mr Khan's visit in a statement on Wednesday. Lens Technology has partnered with Apple for 19 years.
Minister Li Lecheng expressed China's hope that Apple will continue exploring the Chinese market and grow alongside Chinese suppliers. Minister Li, who also oversees infotech, added that China would continue to cultivate a favourable business environment for foreign companies, including Apple.
Data research firm IDC reported on Wednesday that Apple's shipments in China increased 0.6% from a year earlier, reaching 10.8 million units in the third quarter. This growth occurred amid sluggish demand in China's broader smartphone market.
The iPhone 17 series boosted Apple, making it the only brand among China's three largest vendors to achieve shipment growth during the period. Apple CEO Mr Cook visited the company's Shanghai store this week as part of his trip.
During his visit, Mr Cook met with Chinese game developers, and the designer of the popular Labubu dolls, sharing details on China's X-like Weibo platform. On Monday, he announced the iPhone Air would be available for pre-order in China after the industry ministry cleared the way for major telecom operators to support its eSIM functionality.
The industry ministry had cleared the way for major telecom operators to support the iPhone Air's eSIM functionality. China's ambassador to the US, Xie Feng, commented on Tuesday that the business community stabilises China-US relations and promotes pragmatic cooperation.
Apple CEO Tim Cook pledged increased investment in China during a meeting with China's industry minister.
The commitment is made amidst ongoing trade tensions between the United States and China.
Apple has previously announced a USD 101 million clean energy fund in China and a USD 100 billion investment in US manufacturing.
Source: REUTERS
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