Apple Shares Slump as Chinese iPhone Ban Widens

Chinese government expands ban to cover even more state firms

China is seeking to widen its ban on iPhone use. Reports indicate the wider ban will cover state-backed firms and local government. Initially, the ban ordered officials at central government agencies to not use Apple’s iPhones. Now it appears the restrictions will cover lower officials in prefectures, cities, and other state-owned enterprises.

A Chinese government official told a reporter that most workers use a Huawei phone for work and an iPhone for personal use.

Concerns over the impact on sales in the Chinese market have seen Apple shares tumble by nearly $200 billion Within 2 days. Currently, $AAPL stock is down more than 6% for the week.

Notably, the iPhone maker counts China as its biggest foreign market and global production base.

Since 2018, the Chinese government began dictating the procurement of information technology equipment, such as personal computers, to Chinese companies by compiling a list of recommended companies and products. Amid a row with the USA, the move was seen  as necessary to encourage self-reliance in technology

iPhone Ban Comes After Huawei Breakthrough

Huawei has created a stir with its run around US sanctions to develop a high-end 5G phone out of homegrown chips. Silently, the phone manufacturer has launched its new flagship Mate 60 series phones, the Mate 60 Pro and the Mate 60 Standard Edition.

Clearly, the Mate 60 Pro has 5G capabilities. Furthermore, the Mate 60 Pro is the first cell phone to offer satellite calling. However, it appears Huawei is not looking to publicly acknowledge this. It has left the tech experts and consumers to speculate.

Nevertheless, this indicates that China has slowly been enhancing its technology capacity. The 5G breakthrough is a huge milestone in its journey to self-reliance. It seems the Chinese government has now got the confidence to widen the ban on Apple devices.

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  1. Proud of China and Huawei for withstanding bullying. Even though the chip is 12nm it’s commendable that they didn’t use America’s tech.

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