Apple (AAPL) Withdraws Skype From China App Store

By Zacks Investment ResearchStock MarketsNov 21, 2017 09:36PM ET

www.investing.com/analysis/apple-aapl-withdraws-skype-from-china-app-store-200267575

Apple (AAPL) Withdraws Skype From China App Store

By Zacks Investment Research | Nov 21, 2017 09:36PM ET

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Per Reuters, Apple Inc (NASDAQ:AAPL) has removed a host of apps, including Skype from its China Store following a government notification.

Skype is also not available on other third party app stores like Tencent Holdings Ltd and Qihoo 360 Technology Co Ltd. However, users who have the app installed are able to access the service, added the report.

Per an email statement, an Apple spokesperson was quoted saying, “We have been notified by the Ministry of Public Security that a number of voice over internet protocol apps do not comply with local law. Therefore these apps have been removed from the app store in China. These apps remain available in all other markets where they do business.”

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On the other hand, Microsoft Corp (NASDAQ:MSFT) , the owner of Skype, issued a statement saying that the app is “temporarily” not available on App Store and the company is working on reinstating services soon.

In June, China stepped up its Internet censorship laws to crack down on VPN apps that apparently threaten its censorship, nicknamed the “Great Firewall of China”. China has one of the most stringent Internet censorship laws, whereby foreign media remains under tremendous scrutiny. Alphabet’s Google (NASDAQ:GOOGL), Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) are all banned.

Though WhatsApp was available till a few days back, the service has now been stalled. Many popular American shows like The Big Bang Theory also faced the Chinese government’s ire and were taken down.

Apple has always heeded the demands of the local government. Per a Financial Times report, Apple in a letter to senators Ted Cruz and Patrick Leahy said that it has removed 674 VPN apps so far this year, more than double the number of apps it removed last year, at the request of the government.

Apple maintains that it follows the rules of the country where it operates. China is one of its biggest markets and this explains Apple’s prompt removal of apps.

Also, in a bid to protect its business interests, Apple has stepped up investment in the country. Recently, the company was reported to have collaborated with local Internet services companies to establish its first data center in China. This was to ensure compliance with the country's newly implemented cyber-security regulations. The planned facility will be located in the Guizhou province of Southwest China.

Apple also appointed Isabel Ge Mahe to the newly created post of vice president and managing director of Greater China. The creation of the post of managing director for China operations also underscores the importance of the market

Zacks Rank and Stock Price Movement

At present, Apple carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past one year, shares of Apple have registered growth of 55.7% compared with the industry’s gain of 54.5%.

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Apple (AAPL) Withdraws Skype From China App Store

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