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Tim Cook Discusses Plans for China, 'Very Bullish' on Apple Pay Rollout

Tim Cook Discusses Plans for China, 'Very Bullish' on Apple Pay Rollout

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Tim Cook, who is in China this week, sat down with Xinhua news agency to discuss Apple's plans for expansion in the Country.

Cook first discussed Apple's recently announced environmental initiatives in China.

"The environmental issue is very important in China," said Cook. "This area is one where we can make a significant contribution." Cook noted that Apple has been monitoring Chinese President Xi Jinping's environmental initiatives to align the Apple's objectives with the government's.

Cook said very few companies focus on the product they make after it is shipped to the customers in terms of environmental concerns. But this is an area where Apple pays a lot of attention because it helps customers cut carbon footprints.

"We don't advocate, that is not our responsibility," said Cook, "by the same token, we focus on the manufacturing of the product, not just the final assembling, but all the way back to the raw materials. That's the only way Apple can make an enormous impact on the environment," he added.

Aside from the environment, which is a major focus of Tim Cook's visit, the Apple CEO also made note of Apple Pay's rollout in China. "We very much want to get Apple Pay in China," Cook told the news agency. "I'm very bullish on Apple Pay in China."

Apple has been in negotiations with Chinese banks and Alibaba, and believes that an Apple Pay launch in China could take off even faster than the United States.

Tim Cook believes that China will eventually become Apple's biggest market in the world. The company just became the number one smartphone vendor in China and sold more iPhones in the region than in the United States last quarter. "I think China is a market where everyone will own a smart phone," Cook noted.

Apple shows no sign of slowing down its expansion in China, with plans to bring the total number of Apple Stores to 40 by 2016. "Forty is a good objective for us for mid next year," said Cook, "That is not where we want to end. We'll keep adding from there."

Read More via Reuters

Tim Cook Discusses Plans for China, 'Very Bullish' on Apple Pay Rollout