Apple Inc
In 2023, the iPhone maker discussed introducing its Apple TV+ video streaming service in the country via a deal with leading telecommunications provider China Mobile, the Information reports.
China can help Apple's streaming service reach over 200 million Chinese mobile broadband customers.
In the U.S., Amazon.com Inc
So far, Apple has succeeded in maintaining a balance with its most significant trading partner despite growing geopolitical tensions between the U.S. and China. The tensions were aggravated when the U.S. imposed advanced chip sanctions on China, restricting its access to sophisticated AI chips from Nvidia Corp
In 2023, Apple boosted its number of China-based suppliers and manufacturing sites. The company launched a new Apple store in Shanghai, and company CEO Tim Cook attended the China Development Forum in Beijing, underscoring the market's importance.
iPhone sales in China grew by 52% year-on-year in April.
Apple also discussed integrating Baidu Inc's
Apple stock gained over 8% in the past 12 months. Investors can gain exposure to the stock via iShares U.S. Technology ETF
AAPL Price Action: Apple shares were trading flat at $194.04 at the last check on Tuesday