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'China' Articles

Apple Store Expansion in China Said to Have Slowed Due to Red Tape, Fraud, and Other Factors

In 2015 and 2016, Apple aggressively expanded its retail presence in China with 30 new stores, according to the Apple Storefronts tracker. Since the start of 2017, however, Apple has opened just five new locations in the country. Apple's newest store in China in Suzhou The Information's Wayne Ma has shared a report today that offers explanations for the slowdown, including China's bureaucratic government, scalpers, previously-reported fraud, and increasing competition from Chinese smartphone makers. The report is based on interviews with 17 former Apple employees. On government bureaucracy:Apple had to navigate a maze of government bureaucracy to obtain everything from business and tax licenses to construction, fire and customs permits for imported building materials, former employees say. The regulatory framework in China is far more complicated than in the U.S., with many more layers of government, these former employee say, and it’s far more opaque. Employees frequently scrambled to chase down permits and local approvals to keep store openings on track, they said.On scalpers:Apple, too, had to contend with scalpers, known as "yellow cows" in colloquial Chinese. These scalpers swarmed its stores and elbowed out other customers during product launches and in-store promotions. … Apple executives worried they were losing control of the customer experience in their stores, and along with it opportunities to interact with real consumers. The scalpers showed little interest in the accessories and add-on services Apple likes to offer customers.Other factors, according

Apple Investigating Report of Forced Student Labor at Chinese Factory

Apple today said it is "urgently investigating" a report that claims Apple Watch manufacturer Quanta Computer has subjected teenage students to illegal work conditions at its factory in the Chinese city of Chongqing. "We are urgently investigating the report that student interns added in September are working overtime and night shifts," Apple said, in a statement issued to CNN. "We have zero tolerance for failure to comply with our standards and we ensure swift action and appropriate remediation if we discover code violations." In a report last week, Hong Kong labor rights group Students and Scholars Against Corporate Misbehavior said Quanta was "using significant numbers of student workers aged 16-19 years" to assemble the Apple Watch, under working conditions that do not comply with Chinese regulations or Apple's own standards. Based on an investigation during the summer of 2018, SACOM found that many students were forced to complete internships at Quanta, or face the risk of delayed graduation. The internships were often unrelated to each student's field of study, and lacked an educational component, according to the findings. "Our school told us that we will be deferred if we don't do the internship," said a student majoring in early education. "If we resign then we will also receive our graduation certificate half a year later than others." The report also found that students were often illegally required to work at least a few hours of overtime per day and overnight shifts. In its statement, Apple said it audited Quanta's factory in

Supermicro CEO Joins Cook in Calling for Bloomberg to Retract Supply Chain Hack Story

Last week, Apple CEO Tim Cook called on Bloomberg to retract a highly controversial story suggesting Chinese spies planted microchips in the Supermicro server motherboards used in Apple's data facilities, saying there was no truth to Bloomberg's claims. Today, Supermicro Charles Liang joined Cook in calling for a retraction. In a statement shared by CNBC, Liang said that Supermicro has not found malicious hardware components in its products, nor has Bloomberg produced an affected Supermicro motherboard. Bloomberg, he says, should "act responsibly" and retract its "unsupported allegations." Liang's full statement:Supermicro is committed to making world-class servers and storage products. Bloomberg's recent story has created unwarranted confusion and concern for our customers, and has caused our customers, and us, harm. Bloomberg should act responsibly and retract its unsupported allegations that malicious hardware components were implanted on our motherboards during the manufacturing process. The allegations imply there are a large number of affected motherboards. Bloomberg has not produced a single affected motherboard, we have seen no malicious hardware components in our products, no government agency has contacted us about malicious hardware components, and no customer has reported finding any malicious hardware components, either.Supermicro, like Apple and other companies involved, has denied all of Bloomberg's claims since the story was first released. Supermicro previously said it was not aware of any investigation nor any companies that had found

Apple CEO Tim Cook Calls on Bloomberg to Retract Supply Chain Hack Story: 'There's No Truth to This'

For the first time since Bloomberg published a highly controversial story suggesting Chinese spies planted microchips in Supermicro server motherboards Apple used in its iCloud facilities, Apple CEO Tim Cook has gone on the record to vehemently deny the claims. In an interview with BuzzFeed News, Cook said there is "no truth" to the story about Apple, before making the unprecedented move of calling on Bloomberg to publish a retraction. Since the report went live earlier this month, Apple has refuted Bloomberg's claims in multiple clearly worded statements denying such an incident ever took place. Apple maintains that the story is "completely untrue," malicious chips were never found in its servers, and there was never an FBI investigation into the incident. Bloomberg has continued to stand by its original report, which, based on info obtained from 17 unnamed sources, said that Apple, Amazon, and other tech companies had purchased and installed Supermicro servers that had been tampered with by the Chinese government. Small chips were allegedly implanted into server motherboards, allowing China to access corporate secrets and other information. Apple did have an issue with Supermicro servers that led to the company dropping Supermicro as a supplier, but the relationship ended after malware was discovered on a single server in an incident unrelated to Bloomberg's claims. According to Apple CEO Tim Cook, though he only spoke out publicly about the Bloomberg story this week, he's been involved in Apple's response "from the beginning.""I personally

Apple Apologizes After Stolen Apple ID Credentials Aided in Phishing Attack in China

Apple has formally apologized to users in China over the hacking of some Chinese accounts in a series of phishing scams that hit the country last week. The successful phishing attacks used stolen Apple IDs to gain access to customer funds, leading to "a small number of...users' accounts" being accessed through these scams (via The Wall Street Journal). In a statement shared in China today, Apple said: "We are deeply apologetic about the inconvenience caused to our customers by these phishing scams." When news of the incident emerged last week, Chinese mobile payment companies Alipay and WeChat reported that hackers were able to take an unknown amount of money from accounts using stolen Apple IDs. Some users were said to have lost up to 2,000 yuan ($288) following the breach. According to Apple's new statement, these victims had not enabled two-factor authentication, making it easier for the hackers to gain access to their accounts. Apple didn't confirm how many users were affected in China, how much money was stolen in total, or how the hackers gained access to the Apple IDs in question. The company encouraged all users to enable two-factor authentication on their accounts to ensure further security protections are in place. China remains important to Apple's overseas expansion plans, but the company has faced numerous speed bumps in this regard over the years. In 2018, Apple moved Chinese iCloud data to state-owned China Telecom, which brought up user privacy concerns; faced an issue with an overabundance of illegal gambling apps on the Chinese iOS App Store;

Kaspersky Lab Says Report Claiming China Hacked Apple's Former Server Supplier is Likely 'Untrue'

Russia-based cybersecurity company Kaspersky Lab today said that while "hardware supply chain attacks are a reality," evidence suggests Bloomberg Businessweek's report about Chinese intelligence tampering with server motherboards manufactured by Apple's former supplier Supermicro is "untrue." Apple data center Kaspersky Lab said the report "should be taken with a grain of salt" in its 14-page analysis of the alleged attack, obtained by MacRumors:The stories published by Bloomberg in October 2018 had a significant impact. For Supermicro, it meant a 40% stock valuation loss. For businesses owning Supermicro hardware, this can be translated into a lot of frustration, wasted time, and resources. Considering the strong denials from Apple and Amazon, the history of inaccurate articles published by Bloomberg, including but not limited to the usage of Heartbleed by U.S. intelligence prior to the public disclosure, as well as other facts from these stories, we believe they should be taken with a grain of salt.Kaspersky Lab added that the language in both Apple and Amazon statements denying the Bloomberg Businessweek report are "pretty strong" and "leaves little to no chance of retractions or denials at a later time." The firm added that the statements are regulated by the SEC in the United States. The key part of Apple's statement was as follows:On this we can be very clear: Apple has never found malicious chips, "hardware manipulations" or vulnerabilities purposely planted in any server. Apple never had any contact with the FBI or any other agency about such an incident. We

Kuo: Apple Has Opportunity With iPhone XR in China as Chinese Rivals Face 'Lower Than Expected' Demand

In a research note obtained by MacRumors, Apple analyst Ming-Chi Kuo said cumulative smartphone shipments from four major brands on the Chinese market, including Huawei, Oppo, Vivo, and Xiaomi, declined 10 percent on a year-over-year basis during China's Golden Week, a national holiday and major sales period. iPhone XR in (PRODUCT)RED Kuo, writing on behalf of research firm TF International Securities, said the estimated 6.5-7 million shipments during Golden Week were "lower than expected." He called Huawei the "major winner" as the only brand with a year-over-year increase in shipments during the October 1-7 holiday. The well-known analyst attributed the year-over-year decline to a lack of innovative selling points among Chinese-brand smartphones. Kuo is positive on the trends of triple-lens cameras and fingerprint sensors under the display in smartphones, but said only limited models currently support both functions. Kuo also cautioned that the US-China trade war "may be affecting consumer confidence, which makes the replacement cycle longer." A third reason is that some consumers—particularly existing iPhone owners—will opt for more affordable legacy iPhone models or wait for the iPhone XR, according to Kuo, who expects replacement demands for the iPhone XR in China will be better than last year's demand for the iPhone 8 and iPhone 8 Plus. Extrapolating from Golden Week, Kuo said smartphone shipments in China in 2018 as a whole may be "lower than expected." He estimates shipments may decline 10-15 percent to 410

NSA Senior Advisor Latest to Question Report Claiming China Hacked Apple's Former Server Supplier

Rob Joyce, Senior Advisor for Cybersecurity Strategy at the NSA, is the latest official to question the accuracy of Bloomberg Businessweek's bombshell "The Big Hack" report about Chinese spies compromising the U.S. tech supply chain. "I have pretty good understanding about what we're worried about and what we're working on from my position. I don't see it," said Joyce, speaking at a U.S. Chamber of Commerce cyber summit in Washington, D.C. today, according to a subscriber-only Politico report viewed by MacRumors. "I've got all sorts of commercial industry freaking out and just losing their minds about this concern, and nobody's found anything," Joyce added. Joyce, a former White House cybersecurity coordinator, noted that all of the companies named in the Bloomberg Businessweek report have issued strong denials, including Apple, Amazon, and Supermicro. He said those companies would "suffer a world of hurt" if regulators later determine that they lied. Apple's statement read in part:On this we can be very clear: Apple has never found malicious chips, "hardware manipulations" or vulnerabilities purposely planted in any server. Apple never had any contact with the FBI or any other agency about such an incident. We are not aware of any investigation by the FBI, nor are our contacts in law enforcement.Bloomberg Businessweek, citing 17 unnamed sources, claimed that Chinese spies planted tiny chips the size of a pencil tip on server motherboards manufactured by Supermicro at its Chinese factories. The servers were then sold to companies such as Apple and Amazon for

Apple Said to Have 'Dramatically Reduced' Multi-Billion-Dollar iPhone Repair Fraud in China

Within the past four years, Apple has managed to "dramatically reduce" the rate of iPhone-related repair fraud in its retail stores in China, according to The Information's Wayne Ma. The report is based on interviews with more than a dozen former Apple employees who spoke on condition of anonymity. Image: iFixit In 2013, Apple is said to have discovered a highly sophisticated fraud scheme in which organized thieves would buy or steal iPhones, remove valuable components like the processor or logic board, swap in fake components, and return the "broken" iPhones to receive replacements they could resell.Thieves would stand outside stores with suitcases full of iPhones with some of the original components stripped out and replaced with inferior parts, two of the people said. The fraudsters would hire people to pretend to be customers to return them, each taking a device to stand in line at the Genius Bar, the people said. Once the phones were swapped, the actors would pass the new phones to the fraudsters and get paid for their time, the people said."In the old-school world, this would be a car chop shop, where you would take all the pieces off and sell them," said Kyle Wiens, co-founder and CEO of iFixit. "Now they're doing that with iPhones." The report claims most of the schemes originated in Shenzhen, a southern Chinese city known as a hotbed for criminal organizations because of its proximity to gangs in nearby Hong Kong. Shenzhen is also the largest electronics manufacturing base in the world, home to many Apple suppliers like Foxconn. When the first Apple

Apple Tells Congress 'Nothing Was Ever Found' to Suggest Alleged Supply Chain-Based Hack

Apple's top security chief told the U.S. Congress on Sunday that it had found no indication of suspicious transmissions or other evidence that its China supply chain was ever compromised (via Reuters). In a letter to the Senate and House commerce committees, Apple Vice President for Information Security George Stathakopoulos wrote that the company had repeatedly investigated and found no evidence to support Bloomberg Businessweek's bombshell report that alleged tiny chips were discovered inside Apple servers which allowed for backdoor transmissions to Chinese spies. "Apple's proprietary security tools are continuously scanning for precisely this kind of outbound traffic, as it indicates the existence of malware or other malicious activity. Nothing was ever found," he wrote in the letter provided to Reuters.Stathakopoulos repeated Apple's statements to the press that it had never found any such planted chips or been contacted by the FBI over the alleged matter. The letter follows a statement issued on Saturday by the U.S. Department of Homeland Security saying it had no reason to doubt the companies who denied that they had ever discovered the tiny chips. Apple, Amazon, and Supermicro all strongly rebutted the report, which alleged that Chinese intelligence planted microchips in Supermicro servers, which Apple and Amazon previously used in their data centers. Despite the denials, which are also backed by the UK's national cyber security agency, retired Apple general counsel Bruce Sewell, and other unnamed Apple senior executives, Bloomberg said it stood by its

Department of Homeland Security Has 'No Reason to Doubt' Apple's Denial of Supply Chain Compromise

The U.S. Department of Homeland Security today said it has "no reason to doubt" the companies who denied a bombshell Bloomberg Businessweek report this week about Chinese spies using a tiny chip to infiltrate U.S. companies. Homeland Security's full statement:The Department of Homeland Security is aware of the media reports of a technology supply chain compromise. Like our partners in the UK, the National Cyber Security Centre, at this time we have no reason to doubt the statements from the companies named in the story. Information and communications technology supply chain security is core to DHS's cybersecurity mission and we are committed to the security and integrity of the technology on which Americans and others around the world increasingly rely. Just this month – National Cybersecurity Awareness Month – we launched several government-industry initiatives to develop near- and long-term solutions to manage risk posed by the complex challenges of increasingly global supply chains. These initiatives will build on existing partnerships with a wide range of technology companies to strengthen our nation's collective cybersecurity and risk management efforts.Apple, Amazon, and Supermicro have all strongly refuted the report, which alleged that Chinese intelligence planted microchips in Supermicro servers, which Apple and Amazon previously used in their data centers. Apple and Bloomberg Businessweek are in a stalemate, with the former strongly refuting the report, and the latter standing by its reporting. Apple's denial has been backed by not only the Department

Apple's Former Legal Chief Bruce Sewell Says FBI 'Never Heard' of Supermicro Allegations Last Year

Apple's efforts to thoroughly deny this week's bombshell Bloomberg Businessweek report now extend to a former top executive. Apple's former general counsel Bruce Sewell Apple's recently retired general counsel Bruce Sewell told Reuters he called the FBI's then-general counsel James Baker last year after being told by Bloomberg of an open investigation into Supermicro, and was told that nobody at the federal law enforcement agency knew what the story was about. "I got on the phone with him personally and said, 'Do you know anything about this?," Sewell said of his conversation with Baker, reports Reuters. "He said, 'I've never heard of this, but give me 24 hours to make sure.' He called me back 24 hours later and said 'Nobody here knows what this story is about.'" Sewell's comments are consistent with a statement Apple shared with Bloomberg Businessweek and on its Newsroom on Thursday:On this we can be very clear: Apple has never found malicious chips, "hardware manipulations" or vulnerabilities purposely planted in any server. Apple never had any contact with the FBI or any other agency about such an incident. We are not aware of any investigation by the FBI, nor are our contacts in law enforcement.Also from Apple's Newsroom:No one from Apple ever reached out to the FBI about anything like this, and we have never heard from the FBI about an investigation of this kind — much less tried to restrict it.Apple later clarified that it is not under any kind of gag order or other confidentiality obligations after speculation mounted. Amazon and Supermicro have also

UK's Cyber Security Agency Supports Apple's Denial That Chinese Spies Infiltrated iCloud Servers

The United Kingdom's National Cyber Security Centre has backed Apple's and Amazon's denials of a Bloomberg Businessweek report that claimed Chinese spies planted tiny chips the size of a pencil tip on motherboards manufactured by Supermicro, which both Apple and Amazon used at one time in data center servers. "We are aware of the media reports but at this stage have no reason to doubt the detailed assessments made by AWS and Apple," the agency, a unit of the GCHQ, said in a statement provided to Reuters today. "The NCSC engages confidentially with security researchers and urges anybody with credible intelligence about these reports to contact us," it added. Apple was a Supermicro customer for several years, using its servers to power the likes of iCloud, Siri, and the App Store, although it severed ties with the company in 2016 due to a previously-reported and allegedly unrelated incident in which Apple discovered an infected driver on a single server in one of its labs. Bloomberg Businessweek yesterday reported that Apple discovered the suspicious microchips around May 2015, after detecting odd network activity and firmware problems. Two senior Apple insiders were cited as saying the company reported the incident to the FBI, but kept details tightly held. The insiders cited in the report said in the summer of 2015, a few weeks after Apple identified the malicious chips, the company started removing all Supermicro servers from its data centers. Every one of the 7,000 or so Supermicro servers was replaced in a matter of weeks, according to one of the

Apple Further Refutes Bloomberg Report Suggesting Chinese Spies Tampered With iCloud Servers

Apple has gone to unusual lengths to thoroughly and definitively refute a Bloomberg Businessweek article that today suggested Chinese spies had planted microchips in the Chinese-made Supermicro server motherboards that Apple uses in its facilities. Following the publishing of the article, Apple released a strongly worded statement calling Businessweek's report inaccurate with no evidence to support the claims, and this afternoon, Apple went further and published an entire rebuttal on its website. Apple's press release includes the same statement that was initially provided to Bloomberg Businessweek, along with additional information that the company says it shared with Bloomberg Businessweek ahead of when the server article was released. While Bloomberg Businessweek's report claims that Apple reported the alleged microchip incident to the FBI in 2015, Apple told the news site in no uncertain terms that no one from Apple ever reached out to the FBI, nor had Apple ever heard from the FBI about an investigation. Apple also told Bloomberg Businessweek that despite "numerous discussions" across teams and organizations, no one at Apple had heard anything about the supposed microchip investigation. Apple's updated statement clarifies that Apple is not under any kind of gag order or held to a confidentiality obligation, and it says clearly that the report is "completely untrue" and that no malicious chips have been found in Apple servers. The full additional statement is below:The published Businessweek story also claims that Apple "reported the incident to the

Apple Denies Report Claiming Chinese Spies Planted Microchips in iCloud Servers

Bloomberg Businessweek today reports that around three years ago, the Chinese military began inserting microchips on Supermicro server motherboards while they were being manufactured in China, providing the Chinese government with a stealth doorway into any network that used the tampered hardware. The report cites an official who said investigators found the attack eventually affected nearly 30 companies, including Apple and Amazon, along with a major bank and government contractors in the United States. The microchip was placed on the motherboards in a way that allowed it to inject its own code or alter the order of the instructions the CPU was meant to follow, according to the report. One government official said China's goal was "long-term access to high-value corporate secrets and sensitive government networks." No consumer data is known to have been stolen, according to the report, but the extent of the attack appears to be unclear. Apple was a longtime Supermicro customer, with plans to order more than 30,000 of its server motherboards in two years for its global network of data centers, which power services like the App Store and Siri.Documents seen by Businessweek show that in 2014, Apple planned to order more than 6,000 Supermicro servers for installation in 17 locations, including Amsterdam, Chicago, Hong Kong, Los Angeles, New York, San Jose, Singapore, and Tokyo, plus 4,000 servers for its existing North Carolina and Oregon data centers. Those orders were supposed to double, to 20,000, by 2015.The report claims Apple had around 7,000 of the

Apple Confirms Removing as Many as 25,000 Illegal Gambling-Related Apps From App Store in China

Apple today confirmed it has removed "many" illegal gambling apps, and developers distributing them, from its App Store in China. The Wall Street Journal:"Gambling apps are illegal and not allowed on the App Store in China," Apple said in a statement Monday. "We have already removed many apps and developers for trying to distribute illegal gambling apps on our App Store, and we are vigilant in our efforts to find these and stop them from being on the App Store."Chinese state broadcaster CCTV said 25,000 apps have been removed as of Sunday—which would be less than two percent of the estimated 1.8 million apps on the App Store in the country—but Apple hasn't confirmed any numbers. Apple began cracking down on gambling-related apps earlier this month, providing affected developers with the following explanation:In order to reduce fraudulent activity on the App Store and comply with government requests to address illegal online gambling activity, we are no longer allowing gambling apps submitted by individual developers. The includes both real money gambling apps as well as apps that simulate a gambling experience. As a result, this app has been removed from the App Store. While you can no longer distribute gambling apps from this account, you may continue to submit and distribute other types of apps to the App Store.Apple notes that verified accounts from incorporated business entities may still submit gambling apps for distribution on the App Store. MacRumors reported on Apple's crackdown on gambling-related apps in the App Store earlier this month, noting that

Apple Working With Chinese Mobile Carriers to Reduce iMessage Spam

Apple is working with major mobile carriers in China on exploring ways to reduce iMessage spam, according to state media (via Reuters). The company is actively exploring ways to further cut spam messages, including using advanced technology to identify junk messages and rolling out more tools to block hostile accounts, an Apple official was quoted as saying by the China News Service. "We've been working to reduce the issue of spam for quite some time," an Apple spokeswoman told Reuters in an email. She declined to comment on the China News Service report that it was working with the country's telecom firms.Chinese iPhone users are said to be a regular target of spam iMessages, many of which are said to promote illegal gambling websites. The reason for the influx is that Chinese telecom firms are able to filter out regular spam SMS messages by blocking keywords, but the same approach isn't possible with iMessages, which are end-to-end encrypted. On Thursday, Chinese state media reportedly targeted Apple over the issue in a 30-minute broadside, claiming that Apple allowed illegal content like gambling apps to disseminate freely over the iMessage platform. Apple's decision to work with mobile carriers over the issue of spam will be seen as a move to protect its privacy policies in the region, where the government has been accused of snooping on its citizens. WhatsApp and Facebook have both been blocked in China at one time or another over the use of strong encryption, which makes it difficult for the government to monitor communications. Apple has already tra

China's BOE Seeking to Become OLED Panel Supplier to Apple

China-based BOE Technology Group is stepping up its bid to become an OLED panel supplier for Apple's future smartphones, according to a new report from The Wall Street Journal. BOE is the world's top producer of large liquid crystal screens and already makes displays for Apple's iPads and MacBooks, but the firm now has its sights set on the lucrative OLED panel market. The earliest BOE could supply the OLED screens would be from 2020, one person familiar with the matter said. For iPhones intended for release later this year, Apple is set to procure screens mainly from Samsung, with a small portion coming from LG Display Co. , people have said.If Apple and BOE were to agree to a deal, the Chinese manufacturer would become Apple's first OLED supplier outside of South Korea and Japan. Samsung exclusively produces OLED displays for the current iPhone X, but Apple is in the process of opening up to LG, Sharp and Japan Display. Apple has considered using BOE as an OLED supplier before. In February 2017, Bloomberg reported that Apple had been testing BOE's OLED displays for months, but that it hadn't decided whether to add the company as a supplier. One of the reasons for the delay may have been down to the OLED panel manufacturing process, which is much more difficult than making liquid crystal displays. If so, BOE will need to do more to convince Apple that it can produce large numbers of OLED panels while maintaining the highest quality controls. If it succeeds, BOE will not only prove its manufacturing prowess with a technically challenging product, but also

Apple's Chinese iCloud Data Moved to Servers Managed by State-Owned Mobile Operator

Apple's Chinese iCloud operator has agreed a deal with state-owned China Telecom to transfer local customer data to the company's Tianyi cloud storage business, according to TechCrunch. China Telecom reportedly announced the agreement in a WeChat post, saying that local Apple partner Guizhou-Cloud Big Data (GCBD) had migrated all Chinese iCloud customer data to Tianyi servers. Apple separately confirmed the change to TechCrunch. Back in January, Apple controversially announced that its iCloud services in mainland China would be overseen by GCBD, which was already known to have ties to the Chinese government. GCBD was brought on board to manage Apple's new $1 billion data center, which opened in the region last year. Customer data stored on iCloud includes emails, text messages, and the encryption keys that protect it. Customers who did not want to use iCloud operated by GCBD were given the option to terminate their account or select a country other than China for their iCloud account. Apple made the transfer to comply with the latest laws enacted in China regarding regulations on cloud services, requiring foreign firms to store data within the country. The move means Chinese government can use its own legal system to ask Apple for its users' iCloud data, whereas before the government had to go through the U.S. legal system. Today's development is unlikely to quell the concerns of human rights and privacy advocates, who criticized Apple's original decision to rely on GCBD and questioned whether it will be able to maintain and protect its customers'

Apple Announces New $300 Million Clean Energy Fund in China

Apple today announced the launch of a $300 million investment fund in China which is designed to connect Apple's suppliers with renewable energy sources. Apple, along with 10 initial suppliers, is investing $300 million into the China Clean Energy Fund over the course of the next four years. Apple says the fund will invest in and develop clean energy projects totaling more than 1 gigawatt of renewable energy in China, which is equivalent to powering close to 1 million homes. Apple's new fund will be managed by DWS Group, a company that specializes in sustainable investments. DWS also plans to invest in the fund. "At Apple, we are proud to join with companies that are stepping up to address the climate challenge," said Lisa Jackson, Apple's vice president of Environment, Policy and Social Initiatives. "We're thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet."According to Apple, the China Clean Energy Fund will provide participates with the advantage of greater purchasing power and the ability to attain "more attractive and diverse" clean energy solutions. Participating suppliers include Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solway, Sunway Communication, and Wistron. Apple earlier this year announced that all of its facilities around the world are powered by 100 percent renewable energy, a milestone achievement for the company. To hit that goal,