Apple CEO Tim Cook makes trip to Shanghai amidst declining sales in China, according to Reuters.

Apple CEO Tim Cook makes trip to Shanghai amidst declining sales in China, according to Reuters.

© Reuters. Apple CEO Tim Cook walks outside the Apple Fifth Avenue store as customers wait in line to purchase Apple’s Vision Pro headset, in Manhattan, New York, the United States, February 2, 2024. REUTERS/Brendan McDermid/file photo

SHANGHAI (Reuters) – Apple CEO Tim Cook praised the importance of China in the company’s supply chain when he met on Wednesday with suppliers including BYD (SZ:) Electronics. reported local media, during a visit which comes against a backdrop of falling sales of the iPhone manufacturer in China. .

In a post on his social media account Weibo (NASDAQ:), Cook said he spent the morning walking along Shanghai’s historic Bund River with Chinese actor Zheng Kai and took a local breakfast. However, he did not reveal what other plans he had for this visit to China.

China Daily reported that Cook said in an interview that “there is no supply chain in the world that is more critical for us than China.”

Cook also met with Wang Chuanfu, founder and chairman of Apple (NASDAQ:) supplier BYD Electronics, as well as Lens Technology officials at the company’s Shanghai office, China Daily added.

Cook’s visit comes after the iPhone maker announced Thursday the opening of a new retail store in the heart of China’s financial hub, and as Apple struggles with declining iPhone sales in China and the increasing competition from domestic competitors such as Huawei.

Cook made at least two visits to China, Apple’s third-largest market by revenue, last year. He also visited Beijing this time last year, where he visited an Apple store and attended the China Development Forum.

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