Apple’s CEO ‘Tim Cook’ reportedly signed five-year $275bn agreement with Chinese officials

  • Tim Cook, the chief executive of Apple, signed an agreement with Chinese officials, estimated to be worth about $275bn, to placate threats that would have hobbled its devices and services in the country, The Information reported on Tuesday.
  • Cook lobbied Chinese officials, who believed the company was not contributing enough to the local economy, and signed the agreement with a Chinese government agency, making concessions to Beijing and winning important legal exemptions, the report added.
  • As part of the agreement, Apple promised to use more components from Chinese suppliers in its devices, sign deals with Chinese software firms, collaborate on technology with Chinese universities and directly invest in Chinese tech companies, the Information report said.

[Via]

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