Apple has had problems in recent years with accusations from investors against CEO Tim Cook. Investors have the feeling that the manager is worried about something that you cheated He filed a lawsuit claiming as much. The claim related to iPhone sales in the Chinese market.

Today this case was concluded. According to Reuters, Apple has decided to settle the case. He agreed to pay $490 million. The company denied all allegations and said it did nothing wrong. However, the records said he agreed to reach an agreement to avoid further charges. So what exactly happened? Why were these accusations made against Cook?

In a 2018 earnings call, Cook said the situation was bad in countries like Turkey, but added they were strong in China.

To get answers to these questions until November 1, 2018 We have to go. In a 2018 earnings call, Cook stated that they were under pressure in some markets due to currency depreciation. Among these markets was located in Turkiye. Other countries included places like India, Brazil and Russia. Cook, He never mentioned China.

The CEO said in his statement about China:I wouldn’t put China in this category. Our activities in China were very good last quarter. We grew by 16% and we are very happy with it. The iPhone in particular was very powerful. “We were also good in other categories.” He used expressions like and They had no problems in China. he claimed.

A few months later, Apple announced lower-than-expected sales

But a few months later, in January 2019, the company’s results were announced. In a letter sent to investors, Cook noted that the company’s revenue for the final quarter of 2018 would be $84 billion. This was an amount lower than the expected $89-94 billion. Finally, on January 29, 2019, the company $84.3 billion reported income. The company’s shares fell 25% between November 1 and January 31.

It was stated that the decline in sales was due to China’s slowing economy and problems with iPhone sales.

In his statement, Cook stated that China’s slowing economy caused this and that they did not expect anything like this. Moreover, China is the main reason for the company’s overall sales decline. iPhone revenues are much lower than expected He stated that this was so.

After what happened, some investors accused Cook of knowing what would happen in China but not telling them.

After all this, investors started making these accusations against Cook. Cook’s, He knew there was a drop in demand for iPhones in China, but didn’t say so they claimed. After years of accusations, Apple agreed to pay this amount, which approached half a billion dollars.