Fears are growing that the technological conflict between the United States and China will affect one of the most profitable and influential companies in the world, Apple.
This week, two separate reports published by the Wall Street Journal and Bloomberg indicated that the Chinese government is working to expand the ban on the use of iPhones and other foreign-branded devices for work within some government agencies and companies.
After the issuance of the two reports, Apple’s market value decreased by about $200 billion, as a result of investors’ fear that the Chinese move would be just the beginning of imposing broader restrictions on the company in one of its most important global markets.
Indeed, the Nikkei Asia newspaper reported on Friday that China’s restrictions on central government employees’ use of iPhones would extend to local governments and state-owned companies.
It is noteworthy that Apple announced that it achieved more than 19 percent of its revenues during the third quarter of this year from the Chinese market.
According to Axios, the Chinese ban on iPhones is somewhat similar to the similar step taken by the United States against the Chinese technology giants, Huawei and TikTok.
The website said that the most prominent question currently revolves around whether one of the most successful companies in the United States is at risk. Will any Western company be able to flourish in China?
The New York Times reported that China may make things more difficult for Apple if it actually increases restrictions.
The newspaper pointed out that Apple manufactures most of its devices in China, and imports from this country accounted for about a fifth of the company’s total revenues last year.
It is noteworthy that some Western governments, including the United States, already prevent their employees from using TikTok and devices manufactured by the Chinese company Huawei.
2023-09-08 14:31:29
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