Friday, September 30, 2022

Apple CEO Tim Cook made a $275 billion secret deal with China: Reports

According to reports, Apple CEO Tim Cook personally negotiated a $275 billion accord with Chinese officials in order to keep the business from being subjected to regulatory action.

It is possible to derive the following conclusions based on the facts provided:

It is the first time in six years that Apple’s iPhone has outsold Samsung’s Galaxy S III as the best-selling smartphone in China, the company’s second-largest market after the United States.

Even though Apple CEO Tim Cook laid the groundwork for the company’s success years ago by secretly signing a $275 billion agreement with Chinese officials, promising Apple would aid in the development of China’s economy and technological prowess through investments, business deals, and worker training, much of the credit should go to Cook himself.

New York Times reported in 2016 that Apple CEO Tim Cook personally visited the company to aid with brokering a five-year agreement “to halt a rapid surge of regulatory measures against the company’s operations.” Cook was reportedly there to assist in brokering the agreement.

It was said in the article that “Apple officials were rushing” to save the company’s relationship with China, which “believed that the corporation was not contributing sufficiently to the local economy.”

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