Apple Inc AAPL is gearing up to introduce its Vision Pro headset to the Chinese market this year, as revealed by CEO Tim Cook in an interview with Chinese state media.

Cook’s confirmation of the impending launch was broadcast in a video on a CCTV account on Weibo, underscoring Apple’s entry into the competitive Chinese augmented and virtual reality headset arena.

Advancing in the Asian Landscape

Amidst escalating rivalry with local tech giants like Pico, a subsidiary of ByteDance, the corporate parent of TikTok, Apple’s Vision Pro is set to make waves in a market brimming with innovative offerings.

Cook’s Enthusiasm for Chinese Market Potential

During his recent visit to China, where he inaugurated a new Apple store in Shanghai and participated in the China Development Forum in Beijing, Tim Cook expressed unyielding faith in the vast opportunities presented by the Chinese market.

Facing Market Challenges

The iPhone experienced a temporary setback in China during the first six weeks of the year, slipping to the fourth position with a 24% drop in sales. This dip was against the backdrop of a 7% contraction in the overall smartphone market.

Responding to the challenging market conditions, Apple initiated unprecedented discounts in January to rejuvenate sales, yet revenues in China plummeted by 13% to $20.8 billion in the December quarter.

Investment Opportunities and Market Response

Despite the recent market fluctuations, Apple’s stock demonstrated resilience, registering a 9% increase over the past 12 months. Investors looking to capitalize on Apple’s performance can consider avenues such as the Vanguard Information Tech ETF (VGT) and the SPDR Select Sector Fund – Technology (XLK).

Price Action: AAPL shares are trading lower by 0.35% at $171.67 premarket at the latest check on Monday.

Disclaimer:This content was partially generated with the assistance of AI tools and subsequently reviewed and approved by Benzinga editors.

Photo courtesy: Apple