
Apple will increase investment in China, the company’s CEO Tim Cook said during a meeting with the country’s industry minister in Beijing on Wednesday (October 15), news agency Reuters reported, citing an official summary of their exchange. The reported announcement comes weeks after Apple said that it will spend an additional $100 billion in the US.Cook told China’s industry minister Li Lecheng the iPhone maker will keep investing in China, the Chinese ministry said, although the summary gave no details of the size of the projected investment. The report said that several US companies have become cautious about relations with China as the world’s two biggest economies have clashed over trade tariffs and as US President Donald Trump seeks to promote manufacturing in the US rather than elsewhere.
Apple’s investment saving it from ‘trade war’
The tech giant, which has also made investment pledges to Washington, has so far managed to be relatively unscathed by the trade war between the US and China. Other companies, such as Nvidia and Qualcomm, have found themselves the target of Chinese investigations.Cook in August presented Trump with a custom US-made plaque mounted on a 24-carat gold stand commemorating Apple’s “American Manufacturing Program,” after saying the company would invest an additional $100 billion in domestic manufacturing.When Cook visited China in March, Apple made public its plans for a new clean energy fund there worth 720 million yuan ($101 million). Apple, which relies on suppliers and factories in China where most of its iPhones are assembled, has been trying to shift some manufacturing capacity to India.
Apple’s shipment grows in China – thanks to iPhone 17 series
Apple’s shipments in China grew 0.6% from a year earlier to 10.8 million units in the third quarter against the backdrop of sluggish demand in China’s smartphone market, according to data research firm IDC. Boosted by the iPhone 17 series, Apple was the only brand among China’s three biggest vendors to achieve growth in shipments during the period.