Tag: iPhone

5 Tall Tasks for John Ternus, Apple’s Next C.E.O.

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Apple said this week that Tim Cook, its chief executive since 2011, would step down and become its executive chairman in September. John Ternus, the company’s head of hardware engineering, will succeed Mr. Cook in the corner office. Mr. Ternus, who has worked at Apple for 25 years, will take over a moneymaking behemoth facing a series of pressing questions, including geopolitical threats, an unpredictable man in the White House, artificial intelligence, and the search for new ideas. Here are some of the challenges confronting Mr. Ternus: Navigating Apple’s ties…

Tim Cook Did Wonders for Apple. He Also Did a Lot for Xi Jinping.

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Tim Cook is ending his illustrious stint as chief executive of Apple. The soft-spoken operator accomplished the near impossible, filling the shoes of the visionary co-founder Steve Jobs, turning the iPhone from a cultural phenomenon into a financial juggernaut and transforming his company into a $4 trillion goliath — growing its market value by $682 million per day, on average, for 15 years. By the metrics investors care about, Mr. Cook is nothing short of a rock star. But when one considers his role in the sweep of American history,…

Apple cuts China App Store commission fees after government pressure

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Apple announced late on Thursday it would lower the commission fees collected in its App Store in mainland China. The move follows pressure from regulators in the tech company’s second-largest market, as well as global scrutiny of its payment requirements. Fees for in-app purchases and paid transactions will be lowered to 25% from 30% starting on Sunday, Apple said in a statement on its blog for developers. “Apple is making changes to the App Store in China following discussions with the Chinese regulator,” the company’s announcement reads. “As of March…

Apple inks $500m deal for rare earth magnets with US mining firm

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Apple has signed a $500m deal with a US firm for rare earth magnets, essential for manufacturing electronics, after China curbed exports of the scarce, vital materials. The backing from one of the world’s most valuable companies comes after MP Materials, which operates the only US rare earths mine, last week agreed to a multibillion-dollar deal with the US Department of Defense that will see the Pentagon become its largest shareholder. Both deals are aimed at mitigating supply chain risks after China limited the outgoing supply of rare earths earlier…

Trump threatens 25% tariff on iPhones if they are not made in US

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Donald Trump has threatened to impose a 25% tariff on iPhones if they are not made in the United States, as he stepped up the pressure on Apple to build its signature product in America. The US president caused a pre-trading dip in Apple shares with a post on the Truth Social platform stating that iPhones sold inside the US must be made within the country’s borders. Trump said in the post: “I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold…

Trump says he has a ‘little problem’ with Tim Cook over Apple’s India production

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Donald Trump has admonished Apple and its chief executive over the tech firm’s reported plans to source production of US-bound iPhones from India. The US president said he had a “little problem” with Apple’s Tim Cook, after reports that the company is planning to switch assembly of handsets for the US market from China to India. “I had a little problem with Tim Cook yesterday,” said Trump, speaking in Qatar on Thursday. Referring to Apple’s recent promise to spend $500bn (£375bn) in the US, he added: “I said to him:…

Apple to report quarterly earnings amid Trump trade policy chaos

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Investors have their eyes on Apple as it prepares to report financial results of the second quarter of the fiscal year on Thursday. The tech giant has been working to calm nervous analysts after Donald Trump levied sweeping tariffs on countries around the world that are likely to complicate supply chains for consumer electronics. Since the beginning of the year, Apple’s stock has slumped 16%. In anticipation of its earnings report, the company’s stock notched up slightly on Wednesday. Analysts are predicting a positive quarter for Apple with an average…

Apple ‘aims to source all US iPhones from India’, reducing reliance on China

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Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war. The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Apple has been swept up in Trump’s aggressive tariff policies, with the iPhone maker at one point among the biggest stock market casualties because of the prospect of its Chinese-made products being hit with a hefty import…

Has China Lost Its Taste for the iPhone?

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For years, Apple dominated the market for high-end smartphones in China. No other company made a device that could compete with the iPhone’s performance — or its position as a status object in the eyes of wealthy, cosmopolitan shoppers. But evidence is mounting that, for many in China, the iPhone no longer holds the appeal it used to. During the first six weeks of the year, historically a peak season for Chinese shoppers to spring for a new phone, iPhone sales fell 24 percent from a year earlier, according to…

The Many Challenges Facing Apple

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For more than a decade, Apple could do almost no wrong. The iPhone made it the world’s most valuable company. The App Store helped launch businesses such as Uber and Airbnb. And the company’s new products made it a player in health, Hollywood and finance. Now, the difficulties are piling up. The Justice Department filed an antitrust lawsuit against Apple on Thursday for giving its own products advantages that it deprived rivals of having. The suit is the latest in a series of actions brought against the company by regulators…