Here’s what Apple CEO Tim Cook said to US President Donald Trump on economy
On the call, the Apple CEO said that economy will witness a V-shape recovery, which means that a big downturn will be compensated with an equally good upspring after the outbreak.
Apple CEO Tim Cook believes that the economy will get back to normal after the Covid-19 pandemic is contained. As reported by CNBC, US President Donald Trump got on a call with Cook a few days ago to discuss about Covid-19 pandemic and the state of the economy. On the call, the Apple CEO said that economy will witness a V-shape recovery, which means that a big downturn will be compensated with an equally good upspring after the outbreak.
This comes at a time when the iPhone maker, along with several other tech firms, is facing the most heat due to the slowdown in the industry. According to a recent report by the Nikkie Asian Review, the company is said to delay its upcoming flagship iPhone series, tipped as the iPhone 12 series due to the halt in production lines and with several employees unable to work to their full potential.
The smartphone market has been hit bad in Q1 2020 as per CounterPoint Research report. Although the industry saw mere 4% growth in the shipments, Apple witnessed a 78% YoY growth with iPhone 11 driving strong shipments. Different offers and discounts given by Flipkart and Amazon added to the sales. "In the ultra-premium segment (>INR 45000, around $600) it was the leading brand with a market share of 55%," adds the report. The company even led the race in the True Wireless Stereo (TWS) hearables market in India in 2019.