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.
— Reuters (@Reuters) December 7, 2021
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.
Just read the report that came out on Apple and China. There are some huge red flags in here — some about the CCP & some about our own tech companies. Here are some thoughtshttps://t.co/Xo0y7TVIkn
— Blake Masters (@bgmasters) December 7, 2021
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.