Apple loses about USD 200 billion in market capitalisation on reports of iPhone restrictions in China

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Apple shares fell 3 per cent Thursday and are down more than 5 per cent for the week on reports of an iPhone ban for Chinese state employees that is being dictated by Beijing. The ban was first reported by the Wall Street Journal, which cited unnamed sources saying China is ordering officials at central government agencies not to use iPhones or other foreign branded phones.

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