Apple Reportedly Signed $275B Deal to Appease China

Tim Cook, Chief Executive Officer of Apple Inc., signed an estimated $275 billion agreement with Chinese authorities to appease them and avoid disruption of Apple’s sales and services in the country, reported The Information on Tuesday. When approached by Reuters for a comment on the issue, Apple did not respond immediately.

The report further stated that the agreement, which had a five year term, was made during Cook’s 2016 visits to the country. Cook visited China several times in 2016 to fight the barrage of regulatory actions that had been filed against the company, the report noted, citing Apple’s internal documents and interviews.

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