China 

Apple said to ask suppliers, including Foxconn, to explore major shift out of China to Southeast Asia

Apple has asked its largest suppliers to consider the feasibility of shifting 15 to 30 per cent of its output from China to Southeast Asia in a dramatic shake-up of its production chain, the Nikkei reported.The US tech giant asked “major suppliers” to evaluate the cost of such a migration, the newspaper cited multiple sources as saying. Those included iPhone assemblers Foxconn Technology Group, Pegatron and Wistron, MacBook maker Quanta Computer, iPad maker Compal Electronics and AirPods makers… Source link

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China 

Trade war casts shadow over China business prospects for US firms like Apple and Boeing

The business prospects in China for American firms like Apple and Boeing are at risk because the mainland is rapidly becoming less welcoming and profitable, amid dampened consumer confidence, slowing growth, and an increasingly watchful state, analysts said.The Chinese government has repeatedly assured investors from the United States that they will be treated fairly in China and have their legitimate interests protected, but recently Beijing has shown its teeth to those firms that it perceives… Source link

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Singapore 

Epicentre acting CEO uncontactable; former Apple reseller gets statutory demands from creditors, Business, Singapore News

SINGAPORE – Epicentre Holdings executive chairman and acting chief executive officer Kenneth Lim Tiong Hian has been uncontactable since May 24, the Catalist-listed former Apple reseller announced on Thursday afternoon (May 30), following its request for a trading suspension that morning. Epicentre said it will not be proceeding with a proposed placement of up to about 79.7 million new ordinary shares in its capital, saying that Mr Lim, “who has been key and instrumental to the proposed placement”, has been uncontactable. It noted that it does not have any monies…

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Home 

Apple forecast beats Wall Street estimates as iPhone demand stabilises

Apple projected quarterly sales that topped analysts’ estimates, suggesting demand for iPhones has stabilised after a disappointing holiday period. Shares of the mobile technology giant rose about 5 per cent in extended trading.The company also reported Services revenue grew 16 per cent as consumers sign up for an expanding smorgasbord of digital subscriptions. That was just ahead of Wall Street expectations. A new buyback plan also helped.“IPhone clearly was in line or a little bit above… Source link

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Singapore 

Meet the Singaporean immigrants taking a bite out of the Big Apple, Singapore News

How far would you travel for crabs slathered in black pepper and spicy sauce, an experience that requires more napkins than you have hands, and is likely to blemish your clothes? If the crowds flocking to Yummy Tummy in Queens, New York City – despite no subway access – are any indication, people are happy to go the extra mile for one of Singapore’s most loved dishes. Long lines form outside the restaurant, especially on the evenings and weekends. Patrons come from all over New York and beyond, lured by…

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Home 

Huawei’s position as 5G chip maker strengthened after Apple settles dispute with Qualcomm

The truce between iPhone maker Apple and semiconductor giant Qualcomm has redrawn the battle lines in the 5G chip market just as smartphone makers and carriers begin to move forward with trial deployments of the ultra-fast networks.The two US technology giants last week settled an acrimonious two-year fight, which had threatened the sale of iPhones in several countries including China, with Apple signing a six-year licensing deal with Qualcomm under which it will use Qualcomm chips for its… Source link

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Home 

Founder Ren Zhengfei says Huawei should learn from Apple – and set higher prices

Ren Zhengfei, founder and chief executive of Huawei Technologies, said the company should learn from Apple to set higher prices so that “competitors will be able to survive”, as the Chinese firm remains on the defensive against US accusations that its products could be used for spying.Huawei, the world’s largest telecommunications equipment supplier, has long been criticised for undercutting rivals by offering its products at cheaper prices to win contracts. Now, Huawei is refuting claims that… Source link

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China 

Apple boss Tim Cook urges China to keep opening up its economy

Apple chief executive Tim Cook has encouraged China to keep opening up its economy, as his company grapples with weaker demand from the nation and uncertainty over its trade war with the United States.“We urge China to continue to open up,” he said during a speech at the annual China Development Forum in Beijing on Saturday. “We see that as essential. Not only for China to reach its full potential, but for the global economy to thrive.”Apple is desperately trying to revive sales in China, which… Source link

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Apple teams with Ant Financial, banks for interest-free iPhone financing in China

Apple has teamed up with Chinese payments giant Ant Financial Services Group and several local banks to offer interest-free financing, its first such move in the country as it looks to boost waning smartphone sales.The US tech behemoth issued a rare revenue warning last month citing weaker iPhone sales in China, one of its most important markets, where consumer spending has taken a hit due to a slowdown in economic growth.On its China website, Apple is promoting the new scheme, under which… Source link

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Home 

Big hedge funds dumped Alibaba, Facebook, Apple stock as market tumbled in fourth quarter

Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley majors such as Apple and Facebook while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. Activist hedge fund Jana Partners sold its position in Chinese e-commerce giant Alibaba Group Holding and reduced its stake in Apple by about 175,000 shares, slicing its position in the company by 63 per cent. Warren Buffett’s Berkshire Hathaway shrank its Apple stake to 249.6 million shares from 252.5 million shares in the fourth…

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