There was good and bad news for Apple coming out of the Chinese foreign ministry press conference. At its daily foreign ministry press briefing, a spokesperson was quoted by Reuters and Bloomberg as saying “China has not issued laws, regulations or policy documents that prohibit the purchase and use of foreign brand phones such as Apple’s.”
But the same spokesperson added: “recently we did notice a lot of media exposure of security incidents related to Apple’s phones. The Chinese government attaches great importance to information and cyber security and treats both domestic and foreign companies as equals.” That suggests news reports from the Wall Street Journal and Bloomberg, that the country was blocking iPhone use by government officials, had some validity, though it’s still not clear how extensive or in what form those restrictions are. China, which to Apple includes both the mainland as well as Hong Kong and Taiwan, accounted for 19% of Apple’s $394 billion of revenue last year. Apple shares
AAPL,
-1.71%
were little changed in premarket trade on Wednesday, having slipped nearly 2% after unveiling the iPhone 15 and other new products on Tuesday.
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