Tim Cook Wants Everything Apple Makes Available in China
Michael A. Katz | | Nov 03, 2014 11:06 AM EST |
(Photo : Reuters) Apple CEO Tim Cook gestures as he speaks at Tsinghua University in Beijing October 23, 2014. He wants everything Apple develops to be available in China, and Apple Pay is his top priority.
Apple (AAPL) CEO Tim Cook said he wants everything that the company develops to be sold in China, and establishing Apple Pay in the country is his top priority.
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"We want to bring Apple Pay to China," Cook told China's state-owned news agency Xinhua. "I'm convinced there will be enough people that want to use it. It's going to be successful."
However, Cook said that before he connects with Chinese banks, merchants and networks, he must first learn the legal procedures necessary to get the Chinese government to allow Apple Pay in the country.
Cook's goal would certainly help Apple in its efforts to capitalize on China's growing middle class, and increase its market share in the country. According to Kantar Worldpanel ComTech, Apple's market share is third in China with 16%, behind Samsung, which was in first with 23%, and China-based Xiaomi's 21%.
"China is a really key market for us," said Cook. "Everything we do, we are going to work it here. Apple Pay is on the top of the list."
Although Apple Pay is Cook's number one priority in China, he is also eagerly anticipating the launch of Apple Watch in China, which is expected to debut there in the spring of 2015.
"We are going to wonder how we ever lived without it," said Cook. "That's the real test of a great product: you wonder how you live without it. And I think that's going to happen to the Apple Watch."
Cook recently concluded a four-day visit to China, which coincided with the fourth plenary session of the Central Committee of the Community Party of China (CPC). During his visit, Cook met with Chinese vice premier Ma Kai, a member of the CPC Central Committee Political Bureau.
According to Xinhua, the two discussed a series of topics including privacy and security. Cook described it as "very open", "fascinating" and "impressive," but would not give details of the meeting.
TagsTim Cook, Apple Watch, Apple Inc., Ma Kai, Vice Premier, Apple CEO
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