Chinese authorities has been ordering Apple Inc. (NASDAQ:AAPL) to remove abhorrent content available on Apple’s Chinese app store.
According to a report from Xinhua news, The National Office in a move against Illegal Publications and Pornographic has found Apple among 198 offenders.
Up till now the government department, responsible for handling these affairs has ordered 175 offenders to delete irrelevant content from their website and closed total 21 Web sites found in this crime.
Apple CEO Tim Cook targeted Chinese market as one of the major market, because according to Cook, he predicted China to become the biggest market for Apple’s products, which will exceed the US sales of its product.
A month earlier Cook issued an official apology to Chinese people because of Apple’s warranty policy and unsatisfactory repair on its products in China.
On the other side, many of Chinese people are exploiting the company’s return policy, many of them replaced bogus parts for real ones and using these fake parts to build and sell new iPhones. After the emergence of this news, Chinese government has arrested five people earlier this week.
Apples return to China is not highly welcomed by the locals, let see how Apple is able to expand its business in China.
Stock Highlights
In last trading activity, Apple Inc. (NASDAQ:AAPL) stock opened at $420.27 hit maximum price of $420.60 throughout the session and ended at $402.80, in after hours trading AAPL shares rose 0.05%.
Revenue Measures
Apple Inc. generated sales of $164.69 billion in last twelve months with income of 41.75 billion. The Company showed a positive 25.35% in the net profit margin and its operating margin is calculated as 33.46%. Company’s annual sales growth for the past five years was 44.81%.
AAPL past twelve months price to sales ratio was 2.30 and price to cash ratio recorded as 9.50. As far as the returns are concern, AAPL return on assets stayed at 24.94% while its return on equity recorded as 38.41%.