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Business Technology

Apple shares fall following rumours of a Chinese government iPhone ban.

In the last two days, the company’s stock market worth has dropped by more than 6%, or almost $200 billion (£160 billion).

China is the third-largest market for the technological behemoth, accounting for 18% of overall revenue last year.

It is also where Apple’s largest supplier, Foxconn, manufactures the majority of its products.

According to the Wall Street Journal (WSJ), Beijing has ordered central government agency officials not to carry iPhones into the office or use them for professional purposes.

Bloomberg News stated the next day that the prohibition might also apply to employees of state-owned firms and government-backed organizations.

According to the WSJ, officials were warned not to use iPhones by their superiors in recent weeks. Other foreign-branded devices were also restricted.

iPhones were already prohibited in some agencies, according to the paper’s sources, but this has now been expanded.

It is unclear how broadly the orders were conveyed inside Chinese government circles.

The reports emerged before of the iPhone 15 debut, which is scheduled on September 12th.

Some persons who claimed to work for state-owned enterprises reported being warned to stop using Apple products by the end of September on Chinese social media. One joked that they were impoverished and couldn’t afford a new phone: “What should I use for work?” they inquired.

China is one of Apple’s largest markets, and iPhones are manufactured there, while Apple has recently increased production in India.

The Chinese government has not issued an official statement in response to the reports.


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