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Apple CEO apologizes to China amid fears that propaganda will hurt market share

Published Apr 1st, 2013 1:31PM EDT
Apple CEO Cook

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Apple (AAPL) CEO Tim Cook has gotten used to apologizing recently. In addition to his formal apology to iPhone users over iOS Maps, Cook has now delivered an apology to Chinese consumers “for any concerns or misunderstandings” stemming from its “repair and warranty policy,” Street Insider reports. Cook’s apology  to Chinese consumers comes after around a week after China’s state-sponsored media attacked Apple over its warranty policies for both smartphones and computers. Per Barron’s, Citigroup analyst Glen Yeung says that even this apology may not be enough to overcome “the impact of this propaganda on Apple’s China market share” and notes that “if Apple were to lose as much as 50% of their China market share, this would equate to ~$13.1B/$3.62 in revenues/EPS.”

Brad Reed
Brad Reed Staff Writer

Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.