A wider ban imposed by the Chinese Communist Party (CCP) on China state employees from using Apple’s iPhones is seeking to limit a Western company’s market access, the chairman of the U.S. House panel on China told Reuters on Thursday.
“This is textbook Chinese Communist Party (CCP) behavior – promote PRC (People’s Republic of China) national champions in telecommunications, and slowly squeeze western companies’ market access,” U.S. Representative Mike Gallagher said in an emailed statement.
“American tech companies seeking to cozy up to the CCP must realize the clock is ticking,” added Gallagher…
China in recent weeks has widened curbs on the use of iPhones by state employees, telling staff in at least three ministries and government bodies to stop using their Apple mobile phones at work
MacDailyNews Take: $200 billion in market value lopped off in two days. That seems rational. (smirk)
Dare we hope for some sub-$170 AAPL action before Apple unveils the all-new iPhone 15 family in five days? Please, please, please!!!
Be fearful when others are greedy, and greedy when others are fearful. – Warren Buffett
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Hmm… “state employees” barred from using iPhones. A little back of the napkin math… depending on how you want to define “state employees”… that comes to 1,442,964,999 “state employees” barred from using iPhones (while at work).
Yes, I excluded Xi from my calculations. I read somewhere he (but pronounced “She”) sometimes sneaks in a game of Pokémon Go between busy meetings with comrades.
MDN take is on the money. Yes, this doesn’t mean big loss of revenue in the near term, but the evil awful ccp just turned up the heat in cooking the frog in its hot tub. If you don’t see that, you’re dismissed from the adult’s table.
China is a communist humanity destroying s’ hole, and apple should have diversified long ago. Apple should make 10% of products in the USA, 20% in Europe. 20% in South America. 15% in Japan and South Korea. And maybe 35% split between china and India.
Cook failed at business 101. Diversification of markets. Yes Steve hired cook to bring manufacturing to china, but not only bring all its manufacturing eggs into one hostile communist hellhole. And china was far different when jobs pushed for entry there at behest of cook, the biggest operational failure in business history.
Apple needs a master chef, unfortunately and instead, they have a lousy cook.
Poor apple
Sounds like theater on both sides. China doesn’t want to crush Apple. Apple employs vast numbers of people in China and brings in lots of foreign currency. If Apple were shut down it would be disastrous for China.
Considering China controls a good portion of the world’s rare earth materials to produce the technology we’re used to, they’ll just jack up the prices to make up any difference. One factor that has Apple remaining in China may be due to favorable material prices for their products.
Is that guffaw I hear coming from the NSA? Looks like China just made the US spy services’ job of gathering real-time intelligence a whole lot easier!
Possibly, but CCP is one up on the NSA when the buffoon allowed the spy balloon to travel from coast to coast over the USA…