Key Takeaways
- Apple will launch its Vision Pro mixed reality headset in China later this year, CEO Tim Cook reportedly told Chinese media Sunday.
- The comment came during the CEO’s visit to China for the annual China Development Forum.
- Cook also attended the opening of a new Apple store in Shanghai, and called China a “critical” part of the company’s supply chain and market.
Apple’s (AAPL) Vision Pro mixed reality headset will launch in China later this year, Apple CEO Tim Cook reportedly told Chinese media Sunday.
The headset, which launched in the U.S. earlier this year and starts at around $3,499, is Apple’s first venture into a new category of tech in years.
The comment came during Cook’s visit to China for the annual China Development Forum. Cook also attended the opening of a new Apple store in Shanghai, now its second-largest store in the world, and during other events said China is “critical” to Apple’s business, because of how much of the company’s supply chain is in China, and how important the market is to Apple’s sales.
Cook’s trip to China comes at an important time for Apple, as the company faces headwinds in China amid rising competition and a soft economic recovery. Wedbush analysts said in a Monday note that Cook’s China trip represents Apple “essentially doubling down on China,” despite plans to move parts of its supply chain to India and Vietnam from China.
Apple shares were down 1.2% in early trading Monday as the European Union (EU) announced an investigation into whether changes Apple and other tech giants made to comply with the EU’s Digital Markets Act (DMA) were enough to meet the new law’s requirements. Apple shares have lost over 8% of their value so far in 2024.
Apple did not immediately respond to a request for comment on the Vision Pro’s launch plan in China.