According to recent reports, the most profitable company in China is Apple and not Tencent or Alibaba. The reason behind this is the corporate diplomacy shown by Tim Cook. Read the entire article to learn more about this news piece.
About Apple’s profitable business in China
Recent reports suggest that during the pandemic period, Apple’s business skyrocketed in China and at present, it makes more profits than both of China’s biggest tech companies as per the analysis done by the Financial Times.
“It is clear to Beijing that this is a two-way street. They get a great return – a lot of it employment, and prestige,” said Brian Merchant, author of The One Device: The Secret History of the iPhone, “Salaries, and standards are better for companies that contract with Apple. This has helped raise salaries for the middle class.”
China happens to be Apple’s manufacturing base because 95% of iPhone production happens in the country. Apple has struck a bargain with Beijing which is benefitting its business and also helping it beat its competitor in the country, Huawei. The credit for all this goes to the CEO of the company, Tim Cook. He used to visit Beijing before the pandemic and because of that, Apple did not meet the same fate as those of other companies like Netflix, Meta, and Alphabet that have been locked out of the country.
Apple happens to be the most popular information technology company in the world. It comes among the top 5 information technology companies in the United States. The company’s products are extremely popular because of their excellent features and stunning designs. Apple manages to always offer something new to its customers. Something that it knows will trigger their curiosity and make them buy its product. Apple is mostly known for its iPhones and Macbooks. Through its products, the company makes sure that its customers have the essential features through which they can perform well in any field of work. It gives them an edge over the other employees and makes them shine. The company is currently headed by Tim Cook.
About Tim Cook
Tim Cook is the CEO of Apple. “The intense pressure of setting and executing Apple’s progression with deep precision, and of taking responsibility for the company’s effects on society, is almost unimaginable,” Laurene Powell Jobs wrote. “Yet Tim does it with compassion and discipline, turning to nature to replenish his spirit.”