Apple CEO Tim Cook visits Shanghai amid a slowdown in China Iphone product sales

Apple CEO Tim Cook dinner is on a visit to Shanghai, according to a submit on his official Weibo account on Wednesday, ahead of the inauguration of a new retail keep and declining Iphone profits in the place.

A video clip connected to the article showed Cook dinner using a stroll along one particular of the city’s well known tourist districts and owning breakfast with Chinese actor and television temperament Zheng Kai.

According to a press release on Monday, the new retail store, situated in the city’s Jing’an district, will open Thursday. 

Cook dinner frequently visits China — a important marketplace and manufacturing foundation for Apple — to launch items, open up factories, and meet up with with area officials. Earlier this thirty day period, Apple also announced ideas to expand its analysis facilities in Shanghai and Shenzhen. 

His newest excursion also will come amid reports that Iphone sales in China declined 24% in the initial 6 weeks of 2024 when compared with the similar interval a calendar year before.

The decrease in income was partly owing to abnormally significant shipments by Apple at the start off of 2023 but also amplified level of competition from neighborhood manufacturers such as Huawei, in accordance to analysts.

Past calendar year, Cook visited China in Oct subsequent stories that Apple iphone 15 sales in the state were being weaker compared with sales of the previously model. 

That excursion came a thirty day period just after stories on staff members at China’s central govt businesses becoming banned from working with iPhones for perform. The Chinese Overseas Ministry denied the stories. 

On Friday, Apple reportedly agreed to pay back $490 million to settle a course-action lawsuit alleging that Cook misled investors about a steep downturn in Apple iphone profits in China again in November 2018, in accordance to a preliminary settlement submitted in Oakland, California, federal court.