Apple Inc. (NASDAQ:AAPL) recently pledged to donate $8 million to earthquake recovery efforts in China. The Cupertino-based company recently shared a note on their website acknowledging the earthquake. Apple Inc. (NASDAQ:AAPL) also shared a press release which promised the $8 million donation. Part of their statement read, “At this difficult time, our hearts are with the victims of the Sichuan earthquake. Aside from the cash donation to help the affected people to tide over their difficulties, we are committed to providing new Apple devices to schools in the disaster area, and Apple employees in the locality are on stand-by at any time to help.”
The earthquake in Ya’an, which occurred on Saturday in the Sichuan province, had a magnitude of 7.0. The epicenter of the earthquake happened in Lushan County. It was 72 miles from Chengdu. At press time, 186 people have perished and over 10,000 are injured. Apple Inc. (NASDAQ:AAPL) isn’t the only company that’s pledged to donate for recovery efforts. Their biggest rival Samsung also pledged to donate $9.63 million.
Hedge fund managers are among the wealthiest people in society, and many of them choose to give back through their own foundations. David Abrams of Abrams Capital is one hedge fund manager who has his own foundation. We can get an idea about his favorite hedge funds by seeing which funds his foundation invested in. Read More
Although Apple Inc. (NASDAQ:AAPL) made their pledge through public relation channels, the South Korean tech giant posted their offering on the official page for Sena Weibo.
Zhang Yuanji (president for Samsung China) explained on the statement post, “Samsung China is always with the Chinese people through thick and thin, to tide over the difficulties.”
According to media reports, Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) took it a step further by setting up ad-hoc free repair centers for those in the affected quake zone.
China and Apple Inc. (NASDAQ:AAPL) don’t exactly have the best history with each other. Just last week, there was a report from state-run media that 60 percent of the country’s consumers think even less of Apple Inc. (NASDAQ:AAPL) now than they did previously. Apple Inc. (NASDAQ:AAPL) is hoping for a way to make amends with China and this could be one way to do it.