Apple shares slide after China government iPhone ban reports
Shares in the US company Apple have fallen for a second day in a row after reports emerged that Chinese government workers have been banned from using iPhones.
Over the past two days, the tech company’s stock market valuation has fallen by more than 6% – almost $200bn.
China is Apple’s third-largest market, accounting for 18% of its total revenue last year.
China is also where most of the company’s products are manufactured by its biggest supplier Foxconn.
The Wall Street Journal (WSJ) reported on Wednesday that Beijing has told central government agency officials not to use iPhones for work or bring them into the office.
The ban may also be imposed on workers at state-owned companies and government-backed agencies, Bloomberg News reported the following day.