Chinese Phone Makers Huawei and Xiaomi Have Done a Good Job, Apple CEO Tim Cook Says
Yicai Global
/SOURCE : Yicai
Chinese Phone Makers Huawei and Xiaomi Have Done a Good Job, Apple CEO Tim Cook Says

(Yicai Global) March 20 -- Chinese phone makers Huawei Technologies Co. and Xiaomi Corp. have done a good job and are devoted to making good products, said Tim Cook, chief executive of Apple Inc. [NASDAQ:AAPL], at the China Development Forum in Beijing on March 18.

The Cupertino-based firm cares most about focusing on its own business and making the best products for more customers, Cook said. Apple does not have a specific sales volume or market share target for China, he said.

Huawei and Vivo Electronics Corp. sold more volume than Apple in mainland China last year.

Competition in China is more intense due to the spirit of local companies, which "are committed to making better products," said Cook.

Apple plans to build two research and development centers in Shanghai and Suzhou in addition to the previously announced Beijing and Shenzhen R&D facilities, he said.

Apple takes the lion's share of profits in the fiercely competitive smart phone market, but denies it has a monopoly. Some data shows that Apple took 90 percent of the market's operating profit in last year's third quarter.

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