Apple iPhones targeted in China: State-backed entities call for local tech loyalty, report
China has aimed to diminish dependence on foreign technologies by urging state-affiliated entities, including banks, to transition to local software and fostering the development of domestic semiconductor chip manufacturing, adds the report. In the past month or two, employees in various state firms and government departments across at least eight provinces have been directed to use local brands, according to the Bloomberg News report.
Smaller firms and agencies in December, particularly those in lower-tier cities from provinces such as Zhejiang, Shandong, Liaoning, and central Hebei, which hosts the world's largest iPhone factory, reportedly issued their own verbal directives, as mentioned in the agency report. In September, Reuters reported that employees in at least three ministries and government bodies were instructed not to use iPhones at work.
Apple's shares experienced a marginal decline, reaching $196.50 in extended trading. Previously, it was reported that Apple’s supplier Foxconn Technology Group has received approval to invest $1 billion additional funds into its upcoming facility in India, dedicated to the manufacturing of Apple products.
This substantial augmentation represents a noteworthy stride in its strategic initiative to establish a key manufacturing hub beyond China, according to reports from Bloomberg. This advancement comes in the wake of the Karnataka state government's formal approval of a substantial $1.67 billion investment, underscoring Foxconn's resolute dedication to expanding its operations in the region.
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