New China Smartphone Regs Hurt Apple (AAPL) & Google (GOOG) - WSJ

June 28, 2012 2:56 PM EDT
Reports out of the Wall Street Journal could be sending shares of Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) lower. The reports today say that a draft law in China targeting smartphones could hurt sales in the country. The new rules would require smartphones in China to be equipped with technology that would help the government censor content and track users, states the report. As a result, Apple and Samsung could experience lower profits and slower growth in smartphones. Google and its Android operating system would also be affected.

Apple's earnings last quarter were buoyed by sales in China and any hint at slowing there could damage the stock's price.

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