Apple's shares have experienced a second consecutive day of decline following reports of a ban on Chinese government employees using iPhones.

The technology giant's stock market valuation has dipped by over 6%, equating to nearly $200 billion (£160 billion), in the past 48 hours.

China holds a significant position as Apple's third-largest market, contributing to 18% of its total revenue in the previous year. Furthermore, a substantial portion of Apple's product manufacturing takes place in China, primarily through its principal supplier, Foxconn.

On Wednesday, The Wall Street Journal (WSJ) disclosed that Beijing had issued directives instructing central government agency officials to refrain from bringing iPhones into the workplace or utilizing them for work-related purposes. Subsequently, Bloomberg News reported the possibility of extending this ban to employees of state-owned enterprises and government-affiliated organizations.

According to insider sources cited by WSJ, these instructions, which also encompassed restrictions on other foreign-branded devices, were communicated by superiors to officials in recent weeks. While iPhones were already prohibited in some government agencies, these reports suggest a broader implementation of the ban. The extent to which these directives have been disseminated throughout the Chinese bureaucracy remains unclear.

These developments coincide with the imminent launch of the iPhone 15, scheduled for September 12. While China remains one of Apple's most significant markets and a hub for iPhone production, recent efforts have seen Apple increasing its manufacturing presence in India.

As of now, there has been no official statement from the Chinese government regarding these reports.