• By The Financial District

Apple Inked $275B Deal To Placate Chinese Officials

Apple Inc. Chief Executive Tim Cook signed an agreement with Chinese officials, estimated to be worth about $275 billion, to stop them from hobbling its devices and services in the country, The Information reported.

Photo Insert: Apple Store, Chengdu, China

Chavi Mehta of Reuters confirmed the report after conducting interviews and poring over internal Apple documents.

Apple did not immediately respond to a Reuters request for comment.

The report came in the heels of China’s imposition of strict data controls, the assault on Chinese tennis star Peng Shuai by retired Chinese vice-premier and Politburo member Zhang Gaoli and the forcible delisting of Didi ride-hailing company from the New York Stock Exchange (NYSE).

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