Apple’s shares fall on reports of iPhone curbs in China

Beijing yesterday barred the use of the device in central government agencies.

NEW YORK: Apple shares fell sharply for a second straight session today following reports of significant Chinese restrictions on iPhones at government offices and state-backed entities.

Shares fell 3.6% yesterday after a Wall Street Journal report that China barred the use of Apple smartphones in central government agencies. The Bloomberg story said a release last week of a Huawei smartphone employing a made-in-China processor was hailed in Chinese state media as a “triumph” in the wake of US sanctions.

“The worry for the market is that, if China purposely chooses to make business difficult for a company like Apple, which has a good and important working relationship in China, then it can do so for a lot of other US companies doing business in China,” O’Hare said.

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