Chief executive of Apple Inc. (NASDAQ:AAPL) Tim Cook has received his compensation for this year 2012 which values dollar 4.17M after there was an increase in his salary by 51%. It is stated that he would be getting no stock awards in future.
According to Cupertino, Apple based in California, the total sum becomes dollar 1.36M of the salary and dollar 2.8M in the inducement graph of fiscal year compensation which concluded this September.
Cook, who last year took over Steve Jobs, the cofounder of Apple as CEO, has been in the process of overhaul of Apple’s products trend since past several years of take over. During his tenure, Apple introduced various new launches including iPhone, iPads and Mac systems. In 2011 he received a compensation of dollar 378M, which is said to be the largest pay packages in history, with an enhancement of dollar 376.2M in stock awards terminology he’d be getting over a decade.
Apple Inc. (NASDAQ:AAPL)was fined by the Beijing No.2 Intermediate People’s Court China for providing the electronic books for download on net illegally on Thursday, 27th December 2012. Apple is to pay a fine of to eight Chinese Writers and two companies for disobeying their copyright policies.
Earlier this year, a group of Chinese writers accused the company in terms of charging it with selling unlicensed copy of their books through various unidentified app on app stores. Eight of those authors expected the company to pay them ten million Yuan as a penalty.
However Apple’s spokesman Carolyn Wu stated that copyright violation protest is taken very seriously by the company and it is trying its best to assist content owners in their copyright policy.
Though China is world’s largest cradle of users which utilize fully the services of Internet and Mobile market, but due to piracy issues, it is charged with billion dollars every year. Equally Apple Inc. (NASDAQ:AAPL)which is the biggest popularity in China faced a lot of headaches this year; earlier it was to settle a dispute of iPad trademark with Proview Technology by paying 60 million Yuan.