Bloomberg reported on Wednesday - citing some of its knowledgeable sources - that the Chinese government is considering launching an antitrust investigation into the policies and fees of American companies that own app stores, led by Apple, just one day after a similar report concerning Google.
According to the agency's sources, Chinese officials have been in discussions with executives and developers at Apple since last year; however, one source indicated that the Chinese antitrust agency may not initiate a formal investigation if these talks are successful.
It is worth noting that most of Apple's iPhones are assembled in its factory in China through its manufacturing partner Foxconn, despite Apple's efforts to diversify its supply chain by producing iPhones in India and Vietnam as well.
This comes at a time when Apple is already facing difficulties in the Chinese market, where the domestic smartphone manufacturer Huawei has taken over, making it one of the largest markets for the American company. Apple's revenues from China fell by 11% to $18.5 billion in the fourth quarter of 2024, although CEO Tim Cook attributed about half of this decline to inventory shortages.
In trading activities, Apple’s stock (NASDAQ: AAPL) fell by about 2% during today's Wall Street session following the Bloomberg report, which came after the United States announced additional 10% tariffs on Chinese imports, which would hit American tech companies that assemble their consumer products abroad.
