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☆ Analysis: China’s EV market reshaped by a brutal elimination round
▼ + stars: | 2024-04-24 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV). More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. Too many playersOvercrowding is another major issue plaguing China’s EV industry. Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing.

Persons: ”, Tesla, Mark Rainford, Richard Yu, Li Auto, “ They’re, Huawei’s Aito, Lei Jun, BYD, Rainford, Gan Jiayue, Wang Chuanfu, Yin Tongyue Organizations: Hong Kong CNN, Auto China, YouTube, China, “, National Development, Reform Commission, China Passenger Car Association, WM, Mitsubishi Motors, Honda, Hyundai, Ford, Huawei, EV, China Association of Auto Manufacturers, China’s EV, Li, Tesla, Porsche, Geely Auto, Meizu, Chery Auto, International Energy Agency Locations: China, Hong Kong, Beijing, Shanghai, oversupply, Meizu

☆ Huawei smartphone sales are soaring in China as Apple sinks
▼ + stars: | 2024-04-23 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Huawei is not only making a roaring comeback in China, it is also on the verge of overtaking Apple in the world’s largest smartphone market. Its market share now stands at 15.7%, while Huawei’s has jumped to 15.5%, from 9.3% last year. Counterpoint’s data comes just days after another market research firm IDC said Apple’s global smartphone sales had tumbled 10% in the first quarter, mainly because of loss of momentum in China. Overall smartphone sales in China grew 1.5% in the first quarter, according to Counterpoint. Local smartphone makers Vivo and Honor were the top two brands by market share.

Persons: ”, Ivan Lam, Huawei’s Organizations: New, New Delhi CNN, Huawei, Apple, Research, IDC Locations: New Delhi, China, Shenzhen, Washington, Beijing, United States, China . China

☆ Jim Cramer says Apple stock could go even lower but sees plenty of reasons it shouldn't stay down
▼ + stars: | 2024-04-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Apple stock has had a lackluster 2024 so far — dropping over 13% since the start of the year. AAPL YTD mountain Apple YTD What's next for Apple stock? As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Apple, Jim, Jeff Marks, Jim Cramer's, Christian Organizations: Apple, Research, Huawei, China, U.S, Apple's, Conference, CNBC, Getty Locations: China, Shenzhen, India, Hamburg, Germany

☆ Apple sinks to 3rd place in China as iPhone sales slide
▼ + stars: | 2024-04-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A slide in iPhone sales has left Apple in third place in China, per Counterpoint Research estimates. Chinese-based rivals Vivo and Honor outpaced Apple's sales in the first quarter of the year, per Counterpoint data. AdvertisementIn stark contrast with Apple's slide, Huawei sales soared by almost 70% compared with the first three months of 2023. Counterpoint research analyst Ivan Lam said in a note that Huawei's surge had directly affected iPhone sales in China. NurPhoto/Getty ImagesDespite the stiff competition, Lam said iPhone sales could still reverse their downward slide.

Persons: —, Apple's, Ivan Lam, Apple, Tim Cook, Cook, Lam Organizations: Apple, Service, Counterpoint Research, Vivo, Huawei, China, Forum, Publishing, Getty, European Commission, Department of Justice, Business Locations: China, Huawei's, Shanghai, Beijing, Europe

☆ Apple iPhone sales drop 19% in China as demand for Huawei smartphones soars, research says
▼ + stars: | 2024-04-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

TOPSHOT - The Apple iPhone 15 series is displayed for sale at The Grove Apple retail store on release day in Los Angeles, California, on September 22, 2023. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)Apple's iPhone sales dropped sharply in China in the first quarter of this year as the company saw strong competition from domestic brand Huawei, according to a new report from market research firm Counterpoint Research. Apple saw sales of its iPhones fall 19.1% in the first three months of the year, Counterpoint's data showed, as Chinese telecommunications and consumer electronics giant Huawei saw a resurgence in its smartphone business. The Shenzhen, China-based firm saw sales of its smartphones surge a whopping 69.7% in the first quarter, Counterpoint said. Starting in 2019, the U.S. slapped sanctions on Huawei in an effort to stop it from accessing such technology, nearly wiping out Huawei's smartphone business.

Persons: Patrick T, Fallon, PATRICK T, FALLON Organizations: Apple, Grove Apple, Getty, Huawei, Research Locations: Los Angeles , California, AFP, China, Shenzhen, U.S

☆ Why Apple is betting big on India
▼ + stars: | 2024-04-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +26 min

I think one estimate put, at one point, I think China was producing something like 90% of the world's iPhones. So when we talk about, you know, Apple manufacturing elsewhere, it's going take a long time to significantly ramp up iPhone production elsewhere. And you know, opening a physical Apple store often for Apple is a sign of a big deal. But you know, Apple looking at India going, wow, we've only got 7% of market share there, we could grow huge amounts. And of course, as we know, with Apple, the hardware is the, you know, one side of the equation, but also, you know, Apple makes billions of dollars off of its services business, which includes things like its App Store fees, it's Apple Pay, Apple TV, all of those other products and services.

Persons: Tim Cook, Apple, it's, It's, Tom Chitty, we've, Arjun Kharpal, Arjun, they're, let's, hasn't, We've, they've, Apple's, that's, we're, There's, Narendra Modi, Arjun Kharpal It's, Tom Chitty Huawei, Kharpal Huawei, Tim Cook's, I've, haven't, He's, They've, Arjun Kharpal There's, Tom Chitty Oppo, Tom Chitty Xiaomi, Tom Chitty Samsung, You've, They're, Transsion, Tom, Tom Chitty I'm, Kharpal, Tom Chitty We'll Organizations: Apple, Bloomberg, CNBC, U.S, Arjun Kharpal It's Samsung, Samsung, China, Apple Watch, Huawei, IDC Locations: India, Foxconn, China, beyondthevalley@cnbc.com, Covid, Zhengzhou, Vietnam, Asia, Thailand, Indonesia, Southeast Asia, Mumbai, New Delhi, Xiaomi, Europe, U.S, Arjun Kharpal Vietnam, Hanoi , Vietnam, Hanoi, Taiwan, Beijing, America, Africa, The

☆ Steer clear of Apple ahead of earnings, tech investor Dan Niles says
▼ + stars: | 2024-04-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Things are not looking up for Apple ahead of its fiscal second-quarter earnings, according to tech investor Dan Niles. Apple, which is due to report May 2, has dropped 14% this year — lagging behind other major technology stocks, such as Nvidia and Meta Platforms. Apple is also lagging behind its peers in the artificial intelligence race, which is why it keeps on exploring opportunities with potential partners such as Alphabet , Niles added. "On a longer-term basis at this valuation with no growth, I don't know why you would be bullish on it," the portfolio manager said. Niles has been bearish on Apple in the past.

Persons: Dan Niles, Satori, haven't, Niles, CNBC's, he's Organizations: Apple, Nvidia, Meta, Satori Fund, Huawei isn't Locations: China

☆ China is still years behind the U.S. despite Huawei's breakthrough chips, Raimondo tells '60 Minutes'
▼ + stars: | 2024-04-22 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Commerce Secretary Gina Raimondo on Sunday downplayed Huawei Technologies' latest microchip breakthrough, arguing the U.S. remains far ahead of China in the critical technology. The comments, made on CBS News' "60 Minutes," are in line with the Commerce secretary's stance that the Biden administration's restrictions on chip sales to China are working, despite an advanced made-in-China chip surfacing in a Huawei phone last year. The phone launched while Raimondo was on a visit to China. "I have their attention, clearly," she said, adding the U.S. would continue to pursue actions to protect U.S. national security and businesses. According to a senior Commerce Department official, Huawei's chipmaking partner SMIC "potentially" violated U.S. law by providing an advanced chip to the Chinese phone maker.

Persons: Gina Raimondo, Joe Biden, We've, Raimondo, Huawei's, SMIC Organizations: Semiconductors, America, White, Huawei Technologies, CBS, Commerce, Biden, Huawei, U.S ., Commerce Department Locations: WASHINGTON, DC, Washington , DC, U.S, China, United States, U.S . U.S

☆ Huawei just gave Tim Cook a new headache in China
▼ + stars: | 2024-04-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

AdvertisementTim Cook would like you to think everything is going swimmingly for Apple in China. It's already won over some consumers since launching the Mate 60 Pro series last year. The Huawei Mate 60 rivals the latest iPhone. They expect another decline in iPhone sales in the region in Apple's quarterly earnings on May 2. Cook might be putting on a brave face, but iPhone sales in China may keep sliding if Huawei has its way.

Persons: —, Tim Cook, Cook, there's, It's, They're, Wang Gang, Ivan Lam, Apple Organizations: Apple, Huawei, Service, Bund, Counterpoint Research, Publishing, Washington, Reuters Locations: China, Shanghai's Jing'an, Cook, iPhones, Greater China

☆ Apple deletes WhatsApp, Threads from China app store on orders from Beijing
▼ + stars: | 2024-04-19 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Apple has removed WhatAapp and Threads from its app store in China, following an order from the country’s internet watchdog which cited national security concerns. “The Cyberspace Administration of China ordered the removal of these apps from the China storefront based on their national security concerns. Other popular Western social media apps including X (formerly Twitter), Facebook, Instagram and Messenger are still available on Apple’s China app store, according to a check by CNN. Chinese consumers who once would have considered Apple are now turning to the country’s national brands. Its CEO Tim Cook visited Shanghai just last month to open the second biggest Apple store in the world.

Persons: Hong Kong CNN —, Duncan Clark, ”, VPNs, Tim Cook, — Hassan Tayir Organizations: Hong Kong CNN, Hong Kong CNN — Apple, Apple, CNN, Administration of China, Meta, BDA China, Facebook, IDC, Huawei Locations: China, Hong Kong, Beijing, United States, Shanghai

☆ After chip breakthrough, Huawei launches fresh lineup of phones to challenge Apple in China
▼ + stars: | 2024-04-18 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Huawei's official website in China listed details of the Huawei Pura 70 series. The Chinese technology giant took the wraps of the Pura 70 series, which replaces the "P series" of devices that the company first launched in 2012. Huawei's latest phones are its latest challenge to Apple, which is the dominant foreign smartphone brand in China. The Pura 70 series as four devices — the Pura 70, Pura 70 Pro, the Pura 70 Pro Plus and the Pura 70 Ultra — according to Huawei's official website. Here are the starting prices in China for each:Pura 70: 5,499 yuanPura 70 Pro: 6,499 yuanPura 70 Pro Plus: 7,999 yuanPura 70 Ultra: 9,999 yuanApple's iPhone 15 in China starts at 5,999 yuan, while the iPhone 15 Pro Max starts at 9,999.

Persons: Max Organizations: Huawei Pura, Huawei, U.S, Pura, Apple, Research, Pro, Android, CNBC Locations: China, Washington, Kirin

☆ Satya Nadella just tried to show everyone who's boss in AI, again
▼ + stars: | 2024-04-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Satya Nadella is hoping to prove he's the shrewdest dealmaker in AI. Microsoft just put $1.5 billion in UAE firm G42 while getting it to divest its China ties. G42 has been linked to a chip venture led by Microsoft's other main AI bet, OpenAI. Last month, Nadella pulled off a big coup by hiring Mustafa Suleyman, a DeepMind cofounder and Inflection AI CEO, and several of his software engineers to head up a new AI division at Microsoft. InflectionThe move involved a $650 million payment to Inflection AI that would also allow Microsoft to license Inflection's AI models.

Persons: Satya Nadella, —, Redmond, Peng Xiao, hasn't, Sam Altman, Nadella, Brad Smith, who's, …, Altman, Mustafa Suleyman, Mistral Organizations: Microsoft, Service, OpenAI, Huawei Locations: UAE, China, Abu Dhabi, DarkMatter, Beijing, @G42ai, OpenAI, Paris

☆ Microsoft invests $1.5 billion in AI firm G42 which faces U.S. scrutiny for China ties
▼ + stars: | 2024-04-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

G42 will run its AI applications and services on the Microsoft Azure cloud service, as well as deploy Microsoft's cloud offerings. The U.S. and UAE governments appeared to be heavily involved in the deal. "Both companies will move forward with a commitment to comply with U.S. and international trade, security, responsible AI, and business integrity laws and regulations," Microsoft said. Gallagher alleges that G42 maintains relationship with blacklisted Chinese firms, such as Huawei, and that it works with China's military and intelligence services. G42 itself has reportedly invested in Chinese firms, including TikTok owner ByteDance.

Persons: Brad Smith, Sheikh Tahnoon bin Zayed Al Nahya, Mike Gallagher, Gallagher, ByteDance Organizations: Microsoft, United Arab, U.S, UAE, U.S ., Chinese Communist Party, Commerce Department, Huawei Locations: Bellevue , Washington, United Arab Emirates, U.S, UAE, China

☆ Apple believes that AI is the future
▼ + stars: | 2024-04-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Apple wanted all eyes to be on the Vision Pro when it launched. A report about AI chips coming to next-gen Macs helped boost Apple's stock by $112 billion. AdvertisementTwo months ago, Tim Cook was busy marking Apple's bold new vision of the future with the launch of expensive nerd goggles. Second, the future of the Vision Pro remains highly uncertain. Just don't expect the Vision Pro to steal the show in the same way a big AI reveal would.

Persons: —, Tim Cook, Bloomberg's Mark Gurman, Apple, Peter Kafka Organizations: Apple, Service, International Data Corporation, Publishing, Getty, Huawei, Apple's, Vision Locations: Cupertino, Shanghai, China

☆ iPhone sales are plunging. Here’s why
▼ + stars: | 2024-04-15 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

CNN —Apple’s smartphone sales tumbled 10% last quarter, according to market research firm IDC, as sales in China fell sharply. Apple took the crown last year – but only for one quarter, as Samsung took the spot back. Samsung occupied about 20.8% of market share (or 60.1 million shipments) during the quarter, followed by Apple with 17.3% (50.1 million shipments). China remains an important market for Apple as it is the largest market behind the US. “As the overall smartphone market recovers this year, with a strong focus on AI, Samsung is in good position to grow further this year,” she added.

Persons: “, ”, Nabila Popal, “ It’s, ” Popal, Xiaomi, Loren Elliott, Huawei’s, Popal, “ We’re Organizations: CNN, IDC, Apple, Samsung, Android, Galaxy, Huawei Locations: China, San Jose , California, U.S, China . China, United States

☆ Apple iPhone first-quarter shipments sink as Chinese challengers rise; Samsung regains top spot
▼ + stars: | 2024-04-15 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Apple shipped 50.1 million units In the first quarter, down 9.6% from the 55.4 million shipments in the same period a year earlier, according to the IDC report. Among the top five smartphone brands in the report, Apple recorded the sharpest decline year on year. Its market share was 22.5% in the first quarter of 2023. Apple, which surpassed Samsung as the largest smartphone maker in 2023, saw its market share drop to 17.3% from 20.7% a year earlier. Xiaomi's shipments rose 33.8% to 40.8 million units in the first quarter, while Transsion saw an 84.9% jump to 28.5 million units.

Persons: Patrick T, Fallon, PATRICK T, FALLON, Xiaomi, Apple, Ryan Reith, Transsion Organizations: Apple, Grove Apple, Getty, International Data Corporation, IDC, Samsung, Huawei, IDC Worldwide Mobility Locations: Los Angeles , California, AFP, China, Xiaomi

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

☆ AMD and Intel dip on report China told telecoms to remove foreign chips
▼ + stars: | 2024-04-12 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Shares of Advanced Micro Devices and Intel dipped on Friday after The Wall Street Journal reported that China is ordering the country's largest telecommunications carriers to cease use of foreign chips. Chinese officials issued the directive earlier this year for the telecom systems to replace non-Chinese core processors by 2027, the Journal reported, citing people familiar with the matter. The report said the mandate would impact AMD and Intel. China set new guidelines in December to remove U.S. chips from government computers and servers, blocking processors from AMD and Intel, the Financial Times reported last month. Intel has reportedly survived a push by AMD to end its sale of hundreds of millions of dollars' worth of laptop chips to the U.S.-sanctioned Chinese telecom company Huawei.

Persons: Hong Kong Organizations: U.S, Devices, Intel, Street Journal, AMD, Financial Times, Bloomberg, Huawei Locations: China, Hong, U.S

☆ Apple doubles India iPhone production to $14 billion as it shifts from China: Report
▼ + stars: | 2024-04-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Apple produced $14 billion worth of iPhones in India over the last fiscal year, a sign of the company's continued effort to manufacture more devices outside of China, a report from Bloomberg said Wednesday. As relations between the U.S. and China have soured, Apple has worked to diversify its supply chain by expanding production in countries like Vietnam and India. Apple now makes around 1 in 7, or 14%, of its iPhones in India, twice the amount it produced there last year, the report said. In June 2023, Apple CEO Tim Cook and other tech executives met with India's prime minister, Narendra Modi, at the White House. A Counterpoint Research report from March found that iPhone sales in China dropped 24% in the first six weeks of 2024.

Persons: Tim Cook, Donald Trump, Pegatron, Foxconn, Wistron, Narendra Modi, Cook Organizations: Apple, American Workforce Policy, White, Washington , D.C, Bloomberg, U.S, CNBC, Huawei Locations: Washington ,, iPhones, India, China, Vietnam

☆ Analyst forecasts a surprising source of revenue upside for chipmaker Nvidia
▼ + stars: | 2024-04-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Other Wall Street analysts in recent weeks offered different views on the state of Nvidia's China-specific AI chips. Nvidia has been sampling AI chips designed to comply with U.S. government export restrictions to Chinese customers since last fall. NVDA 1Y mountain Nvidia's stock performance over the past 12 months. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia Stock Soar | Future Publishing | Getty Images

Persons: Nvidia's, Jeff Marks, Wolfe, Tencent, Biden, China –, Xi Jinping, Jensen Huang, KeyBanc, Jim Cramer's, Jim Cramer, Jim Organizations: Nvidia, KeyBanc, Markets, FactSet, Wall, Wolfe Research, U.S, Microsoft, Street, Huawei, Blackwell, Nvidia's, Taiwan Semiconductor Manufacturing Company, CNBC, Visitors, Future, Getty Locations: China, Nvidia's China, U.S, Hangzhou

☆ Huawei's profit doubled in 2023 as smartphone, autos business picked up
▼ + stars: | 2024-03-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings. The company also attributed the profit gains to revenue growth of 9.6% year-on-year to 704.2 billion yuan ($99.18 billion). Net profit grew by 144.5% year-on-year to 87 billion yuan. Net profit in 2022 fell by 69%, the largest drop on record. ICT remained by far Huawei's biggest revenue driver with 362 billion yuan in revenue in 2023, up 2.3% from a year ago.

Persons: Apple, — CNBC's Arjun Kharpal Organizations: Huawei, Mobile World, 5G, ICT Locations: Barcelona, BEIJING, China, Xiaomi

☆ ‘No force’ can stop China’s tech progress, Xi Jinping tells Dutch PM
▼ + stars: | 2024-03-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

There was a surge in sales of ASML’s advanced chipmaking tools to China last year — ahead of the Dutch ban. In the fourth quarter of 2023, China accounted for 39% of ASML’s total revenue, according to the company. For 2023 as a whole, China’s share of ASML’s revenue was 29%, doubling from 14% in 2022. “China’s access to [these high-end chipmaking] machines is key to its commercialization of 7-nanometer logic chips,” they added. “China has been aggressively buying semiconductor equipment to build out production lines in both advanced and mature nodes,” according to Jefferies.

Persons: Xi Jinping, Mark Rutte, ASML, ” Xi, Rutte, Wang Wentao, Geoffrey van Leeuwen, ” Wang, “, ” Jefferies, Jefferies Organizations: Hong Kong CNN, Dutch, United, ”, Dutch Trade, Huawei, China’s Semiconductor Manufacturing International Corporation Locations: Hong Kong, China, Netherlands, Beijing, United States, Europe

☆ Xiaomi releases electric car $4K cheaper than Tesla's Model 3 as price wars heat up
▼ + stars: | 2024-03-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla's Model 3, as price wars heat up in China's fiercely competitive electric car market. Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss. He also said the SU7 had a minimum driving range of 700 kilometers (nearly 435 miles) versus the Model 3's 606 kilometers. Lei also claimed that Xiaomi's car factory, for which all "key" steps are fully automated, can produce an SU7 every 76 seconds. Earlier this week, the Xiaomi CEO said on social media the SU7 would be the best sedan "under 500,000 yuan" ($69,328).

Persons: Xiaomi, Lei Jun, Lei, Tesla Organizations: Tesla's, Tesla, Huawei Locations: BEIJING, China, Beijing

☆ Op-ed: The effusive China tour is a failing playbook for Apple, Tim Cook, and every CEO
▼ + stars: | 2024-03-27 | by ( Dewardric L. Mcneal | ) www.cnbc.com time to read: +8 min

This ritual, epitomized by high-profile engagements — such as Apple CEO Tim Cook's effusive overtures and statements of commitments to China — signals that American corporate titans think the strategy can still work. Tim Cook's narrative of China as "critical" to Apple , coupled with his admiration for the country's advanced manufacturing capabilities, embodies the ethos of this engagement playbook. Apple's Chief Executive Officer Tim Cook attends the China Development Forum in Beijing on March 24, 2024. It's not that the Apple CEO is doing anything wrong. Chinese Apple superfans jostled to enter the smartphone maker's newest store as it opened on March 21 night.

Persons: Tim Cook's, Tim Cook, Pedro Pardo, Jim McNerney, Xi Jinping's, Mark Zuckerberg, Deirdre O'Brien, Strstr, Xi, Xi Jinping, Li Qiang Organizations: Apple, American, titans, U.S, Apple's, China Development Forum, AFP, Getty, Boeing, Airbus, Volkswagen, Qualcomm, Google, Facebook, Huawei, Afp Locations: China, Beijing, Weibo, Shanghai

☆ Apple's iPhone China shipments in February look even worse than estimated
▼ + stars: | 2024-03-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."

Persons: —, Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing

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