By doing so, the Chinese agreed to squash regulatory actions that were threatening the iPhone maker at the time. The five-year deal, not yet confirmed by either side, was worth an estimated $275 billion and called on the company to invest heavily in the nation. On Tuesday, the web site The Information reported that Apple CEO Tim Cook signed a secret agreement with China in 2016. However, relations between Apple and China's leaders might have been much chummier in recent years than ever imagined.
In exchange, the company has been able to tap into a cheap labor force and gain access to what will soon become the world's largest consumer market.Īpple's entrenchment in the world's most populated nation has long been well documented. In the case of Apple, it has mainly meant ignoring the communist nation's human rights abuses. A new report says Apple's Cook and China have been much closer than once believed.ĭealing with China has never been easy as a nation or company.
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