Apple’s China woes may worsen as Huawei ban nudges die-hard iPhone fans to switch sides

Both sense and sensibility played a major role when diehard iPhone fan Wang Zhixin finally made the decision to become a first-time Huawei user after sticking with the US brand for almost a decade.“There is a calling from my heart that I need to show support for Chinese brands, especially in the trade war climate,” said the manager at one of China’s largest solar module manufacturers. When the time finally came to retire his three-year-old iPhone 7 earlier this month, Wang went with a Huawei… Source link

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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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Terry Gou to step back from ‘front line’ at iPhone assembler Foxconn as it expands into India, AI

Terry Gou Tai-ming, the billionaire founder and chairman of iPhone assembler Foxconn Technology Group, plans to step back from day-to-day operations, making room for younger management to run the world’s largest electronics contract manufacturer.A spokesman for Foxconn, formally known as Hon Hai Precision Industry, said Gou aims to sharpen his focus on the company’s strategic direction, denying earlier reports that he aims to resign or retire.“I’m already 69 years old. I hope to pass down my 45… Source link

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Terry Gou accuses Microsoft of ‘scapegoating’ iPhone assembler Hon Hai, bullying Taiwanese companies and taking advantage of US-China trade war

Billionaire Terry Gou accused Microsoft of being a coward and a bully after the US software giant took legal action against consumer electronics manufacturer Hon Hai for allegedly failing to comply with a patent-licensing agreement. Microsoft on Friday sued the Taiwanese company, which assembles iPhones for Apple, in California for failing to make royalty payments on time. Gou, who is chairman of Hon Hai, held a press briefing in Taipei on Tuesday, railed at the US tech giant, now… Source link

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iPhone maker distances itself from ‘unauthorised’ agency discriminating against China’s ethnic minorities

The world’s largest maker of iPhones has distanced itself from an “unauthorised” recruitment agency near its factory in Zhengzhou that was excluding ethnic minority jobseekers from applying for jobs.Foxconn, which employs around million workers in China, was alerted by an earlier investigation by the South China Morning Post to a sign inside Li Zhong Human Resources near its largest factory in China that it did not accept applications from workers from China’s Uygur and Tibetan minorities.China… Source link

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Foxconn, a tale of slashed salaries, disappearing benefits and mass resignations as iPhone orders dry up

It is a normal Saturday in Zhengzhou, the capital of central China’s Henan province. The sky over the factory complex is obscured with a choking smog. Under the hazy sunset, hordes of workers have started to walk out of the Foxconn production facility. The crowd thinned out quickly.But working conditions inside the world’s largest iPhone assembly plant are not normal, as weaker demand for the mobile phones assembled inside the vast 1.4 million square metre (15 million square feet) facility have… 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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Chinese Apple suppliers’ shares climb after iPhone maker rebounds in New York trading

Shares of Apple’s suppliers in China climbed on Monday after the smartphone giant rebounded strongly from a 22-month low on January 3. Of the 21 Chinese companies that supply the iPhone maker, according to Bloomberg data, only one fell in early afternoon trading, while all four suppliers listed in Hong Kong were up. Apple isn’t having a crisis, but their market share is gradually being eroded by competitors Louis Tse Ming-kwong, managing director, VC Asset Management By Friday’s close in New York, Apple had soared by nearly 20 per cent…

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Apple’s top retail exec to leave amid iPhone sales slowdown

Apple’s top retail executive is stepping down amid a slowdown in iPhone sales that has raised doubts about the technology giant’s future growth prospects. The shake-up announced on Tuesday ends Angela Ahrendts’ five-year stint overseeing the company’s network of 506 Apple Stores and e-commerce operations. She will remain with Apple until April. Apple did not give a reason for Ahrendts’ departure, saying only that she was leaving “for new personal and professional opportunities”. She is being replaced by Deirdre O’Brien, a long-time Apple executive who also runs the company’s human…

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Analysts expect iPhone price cuts in China as Apple seeks to revive sales

Apple is expected to pursue iPhone price cuts in China and other markets, as the US technology giant suffered a decline in sales of its flagship product in the quarter ended December, according to analysts. Most of that decline was attributed by Apple to its Greater China business and other emerging markets, where a stronger US dollar amplified the price of iPhones in local currency terms. While Apple has not announced specific iPhone price adjustments in China, IHS Markit senior analyst Zaker Li said the US company has already pushed…

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