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Managing Director of Cleo Capital and former senior advisor at Bumble, Sarah Kunst recently commented on Apple Inc.’s (NASDAQ:AAPL) ongoing challenges in the Chinese market, attributing them to larger geopolitical issues.
What Happened: On Tuesday, Kunst, managing director at Cleo Capital, spoke during CNBC’s “Last Call’ where she shared her insights on Apple’s situation in China.
“Apple's story in China is less about Apple and more about a much bigger geopolitical kerfuffle.”
Kunst added that this is a part of China’s bigger retaliatory behavior as TikTok faces a potential ban in the U.S.
Why It Matters: Kunst’s comments come in the wake of a sharp decline in iPhone sales in China, with shipments dropping by 33% in February compared to the previous year. This downturn is part of a broader trend, with foreign brands shipping around 2.4 million smartphones in February, a period affected by the Lunar New Year.
Apple CEO Tim Cook‘s recent visit to China has been interpreted as a sign that the tech giant could be planning to double down on its efforts in the region, despite the ongoing geopolitical tensions and regulatory pressures. The opening of a new store in Shanghai, Apple’s 57th in China, further underscores this commitment.
Furthermore, Apple is set to launch its Vision Pro headset in China later this year, marking the company’s entry into the virtual and augmented reality headset market. The announcement was made by Cook during his engagement with Chinese state media.
Image via Shutterstock
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Posted In: AAPL
