“Apple CEO Tim Cook is on a tour of China, meeting with politicians, shaking hands and taking pictures,” Tony Owusu reports for TheStreet. “Cook is also pledging to create the company’s first research center in the country, as Apple attempts to turn around dwindling sales in the world’s second-largest economy.”
“This isn’t the first investment in China Apple has made this year. The company pledged a $1 billion investment in Chinese ride-hailing company Didi Chuxing Technology in May,” Owusu reports. “The impetus for these investments is apparent. Apple is struggling in China.”
Owusu reports, “The reasons for Apple’s inability to gain much traction are numerous, including strong competition from China-based smartphone manufacturers and government scrutiny bordering on harassment.”
Read more in the full article here.
MacDailyNews Take: How many more pay-for-play “investments” from Apple will be required? A billion bucks for Didi. A new R&D center. Many billions of dollars in Apple locations in China. Sheesh.
Good luck, Tim!
Interns, how many times until you just do it?! TTK!!!