TIWN
New Delhi, Sep 8 : Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones, the media reported.
The firm’s stock market valuation has fallen by more than 6 per cent, or almost $200bn (£160bn), in the last two days, the BBC reported. China is the technology giant’s third-largest market, accounting for 18 per cent of its total revenue last year.
It is also where most of Apple’s products are manufactured by its biggest supplier Foxconn. The Wall Street Journal reported that Beijing had ordered Central government agency officials to not bring iPhones into the office or use them for work.
The following day, Bloomberg News reported that the ban may also be imposed on workers at state-owned companies and government-backed agencies.
- Indian tech leaders stand behind Ola's Bhavish in his fight against Microsoft & LinkedIn
- How volatility hit the Indian markets in last three elections
- Dell discloses data breach of some customers’ names, physical addresses
- India on the cusp of becoming a global tech powerhouse: Industry leaders
- Air India Express row: 85 flights cancelled as cabin crew members continue strike