Apple Store in Shanghai, China.
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apple CEO Tim Cook is visiting Shanghai, according to a post on his official Weibo account on Wednesday, ahead of the opening of a new retail store and a drop in iPhone sales in the country.
A video clip attached to the post showed Cook walking around one of the city's famous tourist areas and having breakfast with Chinese actor and TV personality Zheng Kai.
According to a press release issued on Monday, the new retail store, located in the city's Jing'an district, will be opened on Thursday.
Cook frequently visits China – a vital market and manufacturing base for Apple – to launch products, open factories, and meet with local officials. Earlier this month, Apple also announced plans to expand its research centers in Shanghai and Shenzhen
His latest trip also comes amid reports that iPhone sales in China fell 24% in the first six weeks of 2024 compared to the same period the previous year.
The decline in sales is partly due to abnormally high shipments by Apple at the beginning of 2023, but also to increased competition from domestic brands such as Huawei, according to analysts.
Last year, Cook visited China in October after reports that iPhone 15 sales in the country were weaker than those of the previous model.
That trip came a month after reports emerged that employees at central government agencies in China were banned from using iPhones at work. The Chinese Foreign Ministry denied these reports
On Friday, Apple reportedly agreed to pay $490 million to settle a class-action lawsuit alleging that Cook misled investors about a sharp decline in iPhone sales in China in November 2018, according to a preliminary settlement filed in federal court in Oakland, California. a
