Commerce Minister Wang Wentao encouraged Apple to strengthen its presence in China, an intention reaffirmed by Cook, emphasizing Apple’s commitment to this market. What does this mean for the future of the brand in China?
TL;DR
- Tim Cook, Apple CEO, meets with Chinese Commerce Minister.
- Apple commits to intensifying its investments in China.
- Apple’s artificial intelligence service faces uncertainties in China.
Apple CEO meets Chinese Commerce Minister
As part of his second visit to China this year, Apple CEO Tim Cook held talks with the Chinese Minister of Commerce. The American technology multinational is committed to intensifying its investments in the country.
Wang WentaoChina’s commerce minister, encouraged Apple to seize the opportunity for deeper involvement in the Chinese market. He also emphasized that “Mutually beneficial economic cooperation between China and the United States is good for both countries” while insisting on the fact that exaggeration of national security issues would not be conducive to normal economic and commercial exchanges.
More investments in China
During this meeting, Cook asserted that China represented an important market and essential supply chain partner for Apple. The iPhone maker plans to continue investing in Chinese supply chains and also wants to be “a bridge” between China and the United States in areas related to economy and trade.
Apple faces growing competition in China
The statements come as Apple faces increased competition from local smartphone makers, such as Huawei Technologies. Additionally, the rollout of its much-anticipated artificial intelligence (AI) service in China is uncertain, as it requires regulatory approval.
The AI service, called Apple Intelligence, is ready to launch in some countries, but not China. Indeed, authorization from Beijing is necessary for any public release of such software in the country. So far, 188 GenAI services have been approved in China, all developed by local companies.
The latest news comes as the September launch of the iPhone 16 helped Apple regain its second place in the Chinese smartphone market in the third quarter, after dropping out of the top five in the previous three months.
