Apple to Donate $8 Million to China Earthquake Victims

By Evan Niu, CFA – Apr 22, 2013 at 4:41PM

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In the wake of an earthquake in China over the weekend, Apple pledges to donate $8 million to affected victims.

Following a tragic earthquake that hit Sichuan, China, over the weekend, Apple (AAPL 1.27%) has pledged to donate approximately $8 million to victims of the natural disaster. The company offered its condolences to all those affected by the magnitude-7.0 earthquake and committed to providing new devices to schools within the disaster area.

Apple's donation is more than the $2.5 million it donated in the wake of Hurricane Sandy last year, in addition to launching a program to facilitate donations from iTunes customers. Rival Samsung has also pledged support, donating $9.7 million to the affected area while expressing condolences as well.

Both Apple and Samsung are focused heavily on the Chinese smartphone market and their donations will help support victims of the earthquake.

Fool contributor Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends and owns shares of Apple. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.