Tim Cook secretly signed $275 bn deal with China, alleges report

Apple CEO Tim Cook 'secretly' signed a deal estimated to be worth more than $275 billion with Chinese officials allegedly promising Apple would do its part to develop China's economy and technological prowess through investments, business deals and worker training, The Information reported.

The Apple CEO reportedly forged the five-year agreement, which has not been previously reported, "during the first of a series of in-person visits he made to the country in 2016 to quash a sudden burst of regulatory actions against Apple's business," according to internal Apple documents viewed by The Information.

"Before the meetings, Apple executives were scrambling to salvage the company's relationship with Chinese officials, who believed the company wasn't contributing enough to the local economy, the documents show. Amid the government crackdown and the bad publicity that accompanied it, iPhone sales plummeted," the report said late on Tuesday.