Science & Technology

Tim Cook signs a secret $ 275 billion agreement with China to get concessions from the government

information I’m reporting it today Apple CEO Tim Cook signed a $ 275 billion deal with Chinese authorities five years ago, paving the way for Apple to return to the top of China’s smartphone charts for the first time in six years. China, after the United States, is Apple’s second-largest market, and this secret deal appears to have been made by Cook, with the Chinese government making the iPhone the best-selling smartphone in a country full of iPhone competitors. It was the most important above.

In 2016, Apple CEO Tim Cook signed a $ 275 billion deal to show favor to the Chinese.done

Cook signed a five-year agreement in 2016 to prevent the outbreak of threatening regulatory measures against the Chinese government and Apple.According to the document viewed by information, Apple wasn’t doing enough to help the local Chinese government. However, Cook’s approval agreement said Apple would help improve China’s economy and technology.

Cook secretly signed an agreement during a series of trips to the mainland five years ago.The real reason Cook visited China at the time was why the Chinese government Making it difficult for Apple to do business in China.. For example, Apple was forced to shut down iBooks and iTunes Movies in the country and lost a lawsuit banning the use of iPhone names on non-smartphone items.
Apple was at a crossroads when Cook visited China. There he was to meet with high-ranking government officials, officials from the national publicity team, and members of the Communist Party. During the previous quarter, Apple’s China-based revenue fell 26%, and when Apple released its report, its stock fell 10%. in addition, A major hedge fund operator wanted Cook to be dismissed Investor Carl Icahn closed Apple’s huge position with a reported profit of $ 2 billion.
According to Apple’s internal documents, Cook is “privately lobbying” in China for threats to Apple Pay, iCloud, and the App Store. Cook is alleged to have signed a 1,250-word “Memorandum of Understanding” between Apple and a Chinese government agency called the National Development and Reform Commission. Apple has agreed to make concessions in exchange for some exemptions from the regulation.

As part of the agreement, Apple will create “state-of-the-art manufacturing technology” for Chinese, use more components from Chinese suppliers, sign contracts with domestic software companies, and invest directly in Chinese technology companies. We have agreed to support our research with the university. Based in China, we train the most talented technicians in China and support about 12 causes belonging to the Chinese government.

In return for helping the Chinese, Apple received certain benefits that other foreign companies never wanted to receive.

Apple has also promised to spend billions of dollars domestically than it had already spent on setting up new R & D facilities, building retail stores, and working on renewable energy-based projects.Documents viewed information Helped reach the conclusion that the deal required Apple to spend more than $ 275 billion over 10 years.

If both parties do not object, the agreement will automatically be extended for another year and will be enforced until May 2022. By signing a deal and working with the Chinese government, we were able to prevent Apple from limiting its domestic business opportunities.

The fact that Apple is endorsed in China is not surprising. Ars Technica Please note that Apple manages encryption keys for iCloud user data. This is an extraordinary concession by the Chinese, given that the Chinese Communist Party usually pressures foreign businesses to abandon their encryption keys.

According to the information, Apple relies heavily on Tim Cook to make international transactions, and when he leaves Apple, the company may have problems dealing with foreign governments.

Tim Cook signs a secret $ 275 billion agreement with China to get concessions from the government

https://www.phonearena.com/news/cook-signed-secret-275-million-deal-with-china_id136954 Tim Cook signs a secret $ 275 billion agreement with China to get concessions from the government

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