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The recent tussle between Apple and China revolves around Apple's efforts to maintain its market share in China amidst challenges such as declining iPhone sales, regulatory scrutiny, and fierce competition from local Chinese smartphone manufacturers like Huawei.
The modus operandi of these fraudulent schemes involved borrowers signing out of their Apple devices and logging back in using an Apple ID provided by the lender. If borrowers failed to make repayments, often at exorbitant interest rates, the lenders would resort to threatening actions such as blocking their devices, contacting their associates, and revealing personal information.