The iPhone has long been Apple's marquee product and Apple's biggest backer, but sales are starting to decline. The company is pushing digital subscriptions in search of new growth.
Apple is one of many American companies that are currently facing growing concern among Chinese consumers. China is a major market for Apple and other smartphone makers and accounts for a third of the industry's worldwide handset shipments.
In other comments, Cook said the world faces "greater challenges than ever" Change threatens our planet, poverty and inequality keep citizens and nations out of their potential, primary care remains unreachable for millions of people, "he said.
"At the same time … we can have a healthy planet and we can lift millions of people out of poverty and give everyone a chance to learn and thrive. To realize this potential, we must all work hand in hand, governments, academic institutions and companies like Apple, "Cook said.