Edited by Tony Dundon and Adrian Wilkinson
Chapter 41: Labor practices in Apple’s supply chains in China
By early August 2018, Apple had transformed itself from a tiny producer of computers in a garage in 1976 to the world’s most valuable publicly traded company, with a market capitalization that surpassed US$1 trillion. To put the US$1 trillion valuation in perspective, Apple’s worth is more than the economies of Saudi Arabia, Switzerland and Taiwan. During fiscal 2018 (ended 29 September), Apple’s fastest growth came in the Americas, followed by Europe, with annual gains surpassing 42 percent in the Americas and 23.5 percent in Europe, while Greater China generated nearly 20 percent of revenues (see Figure 41.1). Apple’s net sales (US$265.6 billion) increased 16 percent or US$36.4 billion during 2018 compared to 2017, primarily driven by growth in services (digital content and customer services) and higher sales of iPhone.
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