Chinese Civil Servants Prohibited from Using iPhone, Apple Stock Value Drops by Rp 3000T!

Bisnis | Ekonomi - Posted on 11 September 2023 Reading time 5 minutes

The Chinese government has recently issued a ban on all government employees using iPhones, whether for work or personal use while at the office. This move stems from the ongoing unresolved conflicts between nations.

 

If enforced, this regulation will affect all government employees in China and Hong Kong. However, China and its surrounding regions constitute the world's third-largest market for the company founded by Steve Jobs. According to CNBC, the Chinese market contributes 18% of Apple's total revenue, amounting to US$394 billion.

 

The Chinese government has not issued an official statement regarding the ban on Apple products. They have also not provided clarity on the restrictions and when these rules will take effect. Nevertheless, the market has reacted swiftly, causing Apple's stock value to plummet by a staggering US$200 billion or around Rp. 3000 trillion in just two days of trading.

 

Another contentious aspect is that the majority of Apple's product components are manufactured and assembled in China. Furthermore, this ban is expected to reduce the number of Apple users in China by up to 5%.

 

This restriction may also have ripple effects on the families and associates of government employees, consequently impacting Apple's future sales. The company is known for its closed ecosystem with seamless integration among its products, such as iCloud and AirPods.

 

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DISCLAIMER

All information contained on our website is summarized from reliable sources and published in good faith and for the purpose of providing general information only. Any action taken by readers on information from this site is their own responsibility.