Chinese regulators have been cracking down on big tech companies in China. And this crackdown has seen some huge players leave the country.
Background: Chinese regulators have been cracking down on big tech companies in China. And this crackdown has seen some huge players leave the country.
What happened: Twitter and Facebook have been banned since 2009...Google bounced in 2010 and LinkedIn and Yahoo pulled out earlier this year. But it's been smooth sailing for Apple. Coincidence? We think not.
What else: Turns out Apple signed a US$275 billion deal with China's officials back in 2016. It meant Apple needed to invest in China's economy and tech industry in return for...well...that's unclear.
💡Being diplomatic can come at a cost - and companies need to weigh up whether it's worth it in the long run. For Apple, it kinda seemed essential.
💡 Not only was Apple trying to appeal to China's fast-growing consumer market...but they also assemble nearly ALL of their products there, so leaving wasn't an option.
💡While deals with the Chinese government aren't uncommon, they're not always so secretive. But now, with the US and China's trade tensions more shaky than Travis Scott's career...it'll be interesting to see whether this news affects Apple's share price.
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