Cook: Apple can’t live without China, pledges to invest more

Apple CEO Tim Cook said he will further increase investment in China.

In an interview, Cook affirmed China's position as an important market and production base for Apple products, and said he will invest more in the country.

"There is no supply chain in the world that is more critical than China," he said emphatically, praising the modernization of Chinese factories and their efficient manufacturing capabilities.

Apple plans to meet its goal of making all of its products carbon neutral by 2030, which Cook noted would require China's support, and also said it is investing heavily in generative artificial intelligence (AI).

While China contributed $21 billion to Apple's revenue in the fourth quarter of last year, or 17 percent of sales, it was down 13 percent year-over-year.

According to Counterpoint, iPhone sales in the first six weeks of 2024 fell 24 percent year-on-year, dropping its market share in the Chinese smartphone market to 15.7 percent.

Meanwhile, sales of Chinese telecom giant Huawei jumped 64%.

The reason for the cold iPhone sales could be due to a number of factors, including increased competition from Huawei, aggressive pricing from Chinese manufacturers, and modest upgrades to the iPhone 15.