Apple shares slide after China government iPhone ban reports
Source: BBC
Apple shares slide after China government iPhone ban reports
8 September 2023
By Mariko Oi
Business reporter
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn (£160bn), in the last two days.
China is the technology giant's third-largest market, accounting for 18% of its total revenue last year.
It is also where most of Apple's products are manufactured by its biggest supplier Foxconn.
The Wall Street Journal reported on Wednesday that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
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Read more: https://www.bbc.com/news/business-66748092
