Apple shares fall on the NASDAQ: Concern for an important market – China is probably planning an iPhone ban in the workplace September 7th, 2023

According to insiders, China wants to partially ban employees of state-supported employers and state-owned companies from using Apple iPhones at work, in addition to certain officials.

Some state employers have already instructed employees not to bring their iPhones to work, Bloomberg news agency reported on Thursday, citing people familiar with the matter. Previously, the Wall Street Journal, citing people with relevant knowledge, wrote that Chinese government employees had to leave their iPhones at home.

Neither Apple nor any Chinese regulator have responded to inquiries about the issue, Bloomberg said. If the reports are confirmed, it would mean strong headwinds in Apple’s second largest foreign market. Government and state-owned enterprises in China employ millions of people.

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A technology dispute has been raging between the United States and China for some time. The Chinese network technology and smartphone manufacturer Huawei, for example, has long been affected by US import bans. In addition, the United States restricted Chinese access to certain American technologies and banned the export of high-performance chips for artificial intelligence applications to China. The reason is safety concerns. In return, China’s supervisory authorities warned against the use of components from the US chip manufacturer Micron Technology, among other things because of alleged security risks.

According to analyst Brandon Nispel from the investment house KeyBanc Capital Markets, Chinese steps against Apple would come as a surprise to many observers. Given the Californian company’s ties to Beijing and Apple’s importance to the Chinese economy, the company has been considered relatively safe when it comes to such government restrictions.

Most Apple products are made in China. The largest iPhone factory in the world, operated by the Taiwanese supplier Foxconn, is in the Chinese metropolis of Zhengzhou.

Apple shares ultimately fell 2.92 percent to $177.56 in trading on the NASDAQ.

LONDON (dpa-AFX)

Image source: View Apart / Shutterstock.com, Vividrange / Shutterstock.com, Apple, IgorGolovniov / Shutterstock.com

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