Apple's Market Woes, Tim Cook's 2024 Salary, And Siri Privacy Concerns: This Week In Appleverse

The week was a rollercoaster for the tech world, particularly for Apple Inc. AAPL. The tech giant faced a potential market share decline in China, while its CEO, Tim Cook, enjoyed a significant pay rise. Amid privacy controversies, Apple clarified its Siri privacy policies and acknowledged AI flaws. Meanwhile, Samsung Electronics Co. Ltd. SSNLF unveiled a subscription model for its AI-powered Galaxy smartphones.

Apple’s Market Share Decline in China

Apple is reportedly facing a drop in its market share in China, attributed to a decrease in iPhone shipments, according to supply chain analyst Ming-Chi Kuo. Despite the expected launch of the new iPhone SE 4, Kuo forecasts a 6% year-over-year decline in shipments for the first half of 2025. The thin design of two upcoming iPhone models, which may only support eSIM, a feature not widely promoted in the Chinese market, is expected to contribute to this decline.

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Tim Cook’s 2024 Salary

Despite controversies over Apple’s AI and Siri privacy policies, CEO Tim Cook saw an 18% increase in his annual compensation in 2024, reaching $74.6 million. The rise was primarily due to an increase in stock awards and non-equity incentive plan compensation.

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Apple Clarifies Siri Privacy Policies

Following a $95 million settlement over allegations of unauthorized recordings, Apple clarified its privacy policies regarding Siri. The company emphasized that it has never sold or used Siri data for marketing purposes.

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Apple Admits AI Flaws

Apple has committed to updating its AI feature following a complaint from the BBC. The tech giant acknowledged that its AI-generated news summaries on iPhones have been inaccurate.

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Apple Rival Unveils AI Subscription Model

Apple rival Samsung is set to introduce a subscription model for its Galaxy smartphones, following Apple’s pause on its own subscription service plans. The AI Subscription Club, initially launched for select Samsung home appliances in South Korea, will be expanded to Galaxy phones and the Ballie AI robot.

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Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Rounak Jain