Apple stock falls after reports of China government's iPhone ban

File photo

Shares in Apple have fallen for the second day in a row following reports that Chinese government workers have been banned from using iPhones.

The slump means the tech giant has lost close to $200 billion (AED 7,346,200,000) in the last 48 hours. 

China accounted for 18 per cent of Apple’s total revenue last year making it the company’s third biggest market, and is also where its products are manufactured.

It’s been widely reported that Beijing has ordered government officials not to use or bring iPhones to work, which led to a fall in the company share price.

The iPhone 15 is due for release on September 12.

More from Business

Coming Up on Dubai Eye

  • The Agenda

    10:00am - 1:00pm

    Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.

  • Entertainment Extra

    1:00pm - 2:00pm

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.