Apple (AAPL) has announced that it plans to launch its Vision Pro augmented reality headset in China later this year.
Apple CEO Tim Cook made the announcement on Chinese social media site Weibo while visiting the nation of 1.4 billion people.
Apple’s Vision Pro, its first entirely new product since the launch of the Apple Watch in 2015, went on sale in the U.S. in February of this year with a starting price of $3,500 U.S.
In China, Apple will compete against local virtual reality headset maker Pico, which is owned by TikTok parent company ByteDance.
Cook is in China for the opening of a new Apple store in Shanghai and to attend the China Development Forum in Beijing.
Cook’s visit to China and his announcement of the Vision Pro come as Apple faces declining sales of its iPhone in the country, which is its second largest sales market.
iPhone sales in China decreased 13% in the fourth quarter of 2023 as Apple faces a slowdown in consumer spending and rising competition from domestic smartphone maker Huawei.
Apple’s stock is down 7% on the year and currently trading at $172.28 U.S. per share.
