January 29, 2022

Apple signed $275 billion contract with China

Apple CEO Tim Cook reportedly agreed to a $275 billion deal with China in 2016 to work together on manufacturing technologies and avoid conflict within the communist country.

The report showed Cook negotiated the deal during a time when China was considering push back on Apple’s work in the country.

Today, Apple is the top phone maker in China. However, the deal was not previously disclosed, and comes as the nation faces scrutiny over human rights violations.

“The decision to hide the deal from shareholders will make it even harder for Cook to justify now,” the report from The Information said.

The Hill also noted, “Following the agreement was a $1 billion investment from Apple to Uber rival Didi Chuxing in May 2016.”

The news may have an impact on investors with Apple now as Cook has some explaining to do regarding the hidden deal during his visits with Chinese leaders.

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