It’s a challenging time for Apple. Analysts say its latest product, a $3,500 virtual reality headset released in February, is still years away from gaining mainstream appeal. This month, Apple has taken two regulatory hits: a European Union fine of nearly $2 billion for anti-competitive music streaming practices and a U.S. government lawsuit claiming Apple violated antitrust laws.
Evidence is mounting that, for many in China, the iPhone no longer holds the appeal it used to. During the first six weeks of the year, historically a peak season for Chinese shoppers to spring for a new phone, iPhone sales fell 24% from a year earlier, according to Counterpoint Research, which analyzes the smartphone market.
Tim Cook shares Apple s vision for increased research focus in China during his visit. The company plans to enhance resources for applied research in Shanghai, aiming to strengthen its presence in areas like supply chain and R&D.