- Apple (NASDAQ:AAPL) will hand its China cloud operations over to a state-owned partner Guizhou-Cloud Big Data Industry Co. on February 28, according to The Wall Street Journal.
- China law requires companies to store customer data collected in the region locally.
- Chinese iCloud customers were notified of the change and had the option to keep using the service or deactivate it by the transfer date.
- Background: Last year, Amazon (NASDAQ:AMZN) sold its cloud computing equipment to a local partner for similar reasons. Apple has also bent to other Chinese laws and received criticism for removing hundreds of virtual private network apps from the App Store last year.
- Beat goes on: Jimmy Iovine isn’t leaving Apple, contrary to a prior Billboard report.
- Apple shares are down 0.9% premarket.
- Previously: Amazon selling Chinese cloud business (Nov. 14, 2017)
- Previously: Apple COO will meet with Foxconn head; senators want VPN answers (Oct. 20, 2017)
- Previously: Billboard: Jimmy Iovine leaving Apple Music in August (Jan. 5)
- Now read: Is It Too Late To Buy Apple Stock?
Original article