Apple Defies Market Trends! Cook Confirms Deeper Commitment to China?

TradingKey - On the afternoon of October 15 (local time), Li Lecheng, China’s Minister of Industry and Information Technology, met with Tim Cook, CEO of Apple (AAPL.US), in Beijing. The two sides held in-depth discussions on Apple’s business development in China and cooperation in the electronics information industry. As of this report, Apple shares were up 0.5% in pre-market trading.

[Source: Google Finance]

Li Lecheng emphasized that China offers an ultra-large market and a complete industrial ecosystem. He reaffirmed the country’s commitment to advancing high-level openness, continuously improving its business environment, and supporting foreign enterprises — including Apple — to deepen their presence in China and collaborate on innovation.

In response, Cook stated that Apple will continue to increase investment in China, enhance supply chain collaboration, and pursue mutual benefits.

Analysts note that amid global supply chain realignments and accelerating competition in AI-powered devices, Apple is seeking to strengthen its local partnerships to secure supply chain advantages and further tap into the potential of the Chinese consumer market.

According to the latest data from research firm IDC, despite a slightly sluggish overall smartphone market in China — with total Q3 shipments declining 0.6% year-on-year to 68.4 million units — Apple achieved counter-trend growth. Its shipments rose 0.6% YoY to 10.8 million units, capturing a 15.8% market share and ranking second. Apple was also the only top-three brand to record positive growth during the quarter.

IDC analysts attributed the growth to the strong value proposition of the base-model iPhone 17, which attracted cost-conscious consumers and drove overall shipment gains.

Market observers believe Cook’s visit not only underscores Apple’s strategic focus on China but also signals that, amid a reshaping of global computing power and supply chain dynamics, Apple will continue to rely on China’s manufacturing strength and innovation ecosystem to maintain its core competitiveness in the era of AI and smart devices.