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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
About an hour's drive from the company's headquarters in Guangzhou, China, sits a test site for Ehang's autonomous aerial vehicles. Perched on the tarmac during CNBC's visit was the company's fully autonomous, two-seater air taxi. Its scheduling system runs on the server, so its route is automatically loaded, and then it carries out a completely automated route flight." Because of this other aircraft, we also need to build a vertical take-off and landing flight site between cities," Wang said. Take a tour of the EH216 and watch its test flight by clicking the video above.
Persons: Dong Wang, Ehang, AAV, Wang Organizations: CNBC Tech, Civil Aviation Administration, Federal Aviation Administration Locations: Guangzhou, China, United States
Net sales fell 21.6% year-on-year while net income dropped 37.4%. ASML's net sales fell in the middle point of the company's guidance. ASML on Monday said first-quarter profit beat expectations while sales missed forecasts, with the company sticking to its full-year outlook. ASML has previously said it expects net sales for 2024 to be similar to 2023 and reiterated this projection on Monday. ASML previously said that export restrictions would impact 10% to 15% of China sales this year.
Persons: Joe Biden's, ASML, Peter Wennink, ASML's bullishness, Roger Dassen Organizations: Samsung, Taiwan Semiconductor Manufacturing Co, Intel Locations: Netherlands, China, U.S, America
Apple CEO Tim Cook gestures as he arrives for a meeting with Indonesia's President Joko Widodo at the Merdeka Palace in Jakarta on April 17, 2024. Apple CEO Tim Cook said the company will "look at" manufacturing in Indonesia, following a meeting with the country's President Joko Widodo, at a time when the iPhone giant continues to diversify its supply chain away from China. "We talked about the president's desire to see manufacturing in the country and it's something that we will look at," Cook told reporters after the meeting. "I think the investment ability in Indonesia is endless. Over the past three years, Apple has been accelerating its push to diversify its manufacturing base beyond China after the Covid-19 pandemic exposed the Cupertino giant's reliance on the world's second-largest economy.
Persons: Tim Cook, Joko Widodo, Cook Organizations: Apple Locations: Jakarta, Indonesia, China, Cupertino
And that's, that's the whole idea of it. Tom ChittySo if I go and buy bitcoin, the bitcoin I buy is fresh bitcoin that's been mined, not someone who's selling bitcoin is that right? Arjun KharpalThe likelihood is if you buy bitcoin, if we go on an exchange and buy bitcoin, we're selling bitcoin that's in existence already. And so what they say is, well, with the halving, you know, bitcoin will not be devalued. That's that's really what so many of the enthusiasts and proponents love about it.
Persons: Bitcoin, Tom Chitty, Arjun, we'll, Ethereum, Arjun Kharpal Paris, Kharpal, we've, Arjun Kharpal, Tom Chitty 13,777B, that's, what's, they're, bitcoin, there's, That's, It's, you've, Richard Tang, Richard Teng, I'm, he's, Arjun Kharpal That's, Tom, it's, Tom Chitty That's, I've, Arjun Kharpal It's, they've, Binance, Arjun Kharpal Binance, Changpeng Zhao, cryptocurrency, Jan van Eck, Jean, Marie Mognetti, van Eck, Jan Van Eck, Cathy, Gary Gensler, let's, Tom Chitty Let's, Tom Chitty Oh, There's, Tom Chitty Memecoins, Arjun Kharpal They're, we'd, David Hunt, David, Tom Chitty Poor David, Paris, Tom Chitty We'll Organizations: CNBC, Eurostar, U.S ., Paris, Department of Justice, U.S, CZ, DOJ, SEC, Mr, Gamestop Locations: beyondthevalley@cnbc.com, Paris, CNBC.com, bitcoin, U.S, Abu Dhabi, Binance, Chicago, Pennsylvania, Elmira , New York, NYC , New York City, Syracuse, Elmira, it's
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
Cook will meet with Apple users, developers and content creators during the two-day visit, local media reported. In December, the Nikkei reported Apple was moving some of its key iPad engineering resources to Vietnam. Apple CEO Tim Cook (C) walks near Hoan Kiem lake in downtown Hanoi during his visit to Vietnam on April 15, 2024. India has also emerged as a key hub for iPhone manufacturing. Cook's visit to Vietnam comes after 61 environmental and human rights groups called on Apple to oppose the country's detention of climate activists.
Persons: Tim Cook, Cook, Bryan Ma Organizations: Apple, International Data Corporation, IDC, Samsung, Nikkei, Apple Watch, Getty, CNBC, Bloomberg Locations: Hanoi, Vietnam, U.S, China, Cupertino, Hoan, Giang Huy, Afp, India, iPhones
Apple CEO Tim Cook visits Vietnam — here's why
  + stars: | 2024-04-15 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple CEO Tim Cook visits Vietnam — here's whyCNBC's Arjun Kharpal discusses Apple CEO Tim Cook's visit to Vietnam and how the country has emerged as a key manufacturing hub for the iPhone giant.
Persons: Tim Cook, Vietnam —, Arjun Kharpal, Tim Cook's Organizations: Apple Locations: Vietnam
Hong Kong regulators on Monday approved the launch of spot bitcoin and ether exchange-traded funds (ETFs), asset managers said, following U.S. moves this year to bring these products to market. Harvest Global and Bosera International have also received SFC approval for bitcoin and ether ETFs, according to the companies. However, Hong Kong has slowly been trying to make itself a regulated crypto hub to compete with places like Dubai and Singapore. Hong Kong's moves come after U.S. securities regulators approved the trade of spot bitcoin ETFs, which have seen billions of dollars of inflows. Hong Kong would be one of the first places in the world to approve an ether ETF.
Persons: ChinaAMC, Bitcoin, Kong's, Yolande Chee Organizations: OSL Digital Securities, ChinaAMC, Hong Kong's Securities, Futures Commission, Harvest, Bosera, Hong Kong SFC, CNBC, U.S . Securities, Exchange Commission Locations: Hong Kong, China, Dubai, Singapore, cryptocurrencies
Jack Ma is praising Alibaba. Wall Street is more cautious
  + stars: | 2024-04-14 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
Alibaba shares got a boost last week from news founder Jack Ma is pleased with the company's turnaround so far. They cut their price target to $100 a share, down from $105 previously, while maintaining an overweight rating. Eddie Wu became CEO of Alibaba in September, and is also acting head of the cloud business. They cut their price target by $1 to $105 a share and maintained their buy rating. They have a price target of $85, and, in contrast to the many buy ratings, rate the stock equal weight.
Persons: Jack Ma, Joe Tsai, Ma, Alex Yao, Tsai, Nicolai Tangen, We've, Eddie Wu, Trudy Dai, Daniel Zhang, Kenneth Fong, Douyin, Nomura, Doubao, Ernie, Qianwen, monetization, Morgan Stanley, Gary Yu, — CNBC's Michael Bloom, Arjun Kharpal Organizations: CNBC, Wall Street, JPMorgan, Norges Bank Investment, Alibaba, Commerce, UBS, PDD Holdings, Norges Bank Investment Management Locations: China, U.S, Taobao, BABA
German aerospace company Lilium wants to revolutionize air travel with its electric vertical take-off and landing (eVTOL) jet. "Revolutionize means make it absolutely zero emission," Lilium CEO Klaus Roewe told CNBC Tech in an interview. "We want to make a regional plane that has a decent transport capacity to have a meaningful effect on CO2 emission reduction." Less than a decade after being founded by four university students, the group is now one of Europe's leading eVTOL companies. Lilium, which is backed by the likes of China's Tencent and Earlybird Venture Capital, has started taking orders from the premium market.
Persons: Klaus Roewe, Lilium, Roewe, China's, Daniel Wiegand, Lilium's, Wiegand Organizations: CNBC Tech, Earlybird Venture, eVTOL Aircraft Locations: Weßling, Bavaria
In this articleTSMC displayed on a phone screen and microchip and are seen in this illustration photo taken in Krakow, Poland on July 19, 2023Taiwan Semiconductor Manufacturing Co. (TMSC) , posted a surge in monthly revenue in March, as it cashed in on a continuing artificial intelligence boom powered by high-end chips. TSMC said March revenue came in at 195.2 billion new Taiwan dollars ($6.1 billion), up 34.3% year-on-year — marking the fastest pace of growth since November 2022. The company's first-quarter revenue totaled 592.6 billon new Taiwan dollars, up 16.5% year-on-year. TSMC is the world's largest contract semiconductor manufacturer, which makes chips for companies from Apple to Nvidia .
Persons: TSMC Organizations: Taiwan Semiconductor Manufacturing Co, Apple, Nvidia Locations: Krakow, Poland, Taiwan
Jack Ma, founder of Alibaba, reappeared in the public view in China for the first time in months. Alibaba founder Jack Ma on Wednesday praised the company's reorganization and change over its tumultuous past year, marking the billionaire's second major public statement to employees in just a few months. Daniel Zhang, longtime CEO of Alibaba Group, unexpectedly quit and then stepped down as CEO of the company's cloud unit. Ma is reemerging at a time when Alibaba employees are likely in need of a morale boost. The Alibaba founder also said Alibaba needs to think what e-commerce looks like in three years' time, especially since the arrival of artificial intelligence.
Persons: Jack Ma, Alibaba, Ma, ByteDance, Daniel Zhang, Eddie Yongming Wu, Joe Tsai, Tsai, Wu Organizations: CNBC, Wednesday, Ant Group, Alibaba, Cainiao Locations: China, Beijing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis crypto cycle is different from past ones, Binance CEO saysBinance CEO Richard Teng discusses crypto and its potential as an asset class.
Persons: Richard Teng
PARIS — Issuers of spot bitcoin exchange-traded funds cast doubt over the short-term likelihood of the U.S. Securities and Exchange Commission approving such a product for the cryptocurrency ether . The regulator has a late-May deadline to conclude its review on an ether ETF. That comes after the SEC in March delayed its original deadline for a decision on the ether ETF application. Enthusiasm has been mounting among the crypto community for an ether ETF, ever since the SEC approved the first spot bitcoin ETFs in January. This complicates matters for an ether ETF.
Persons: Cathy Wood, Jan Van Eck, CNBC's Arjun Kharpal, Van Eck, Gary Gensler, Jean, Marie Mognetti, CoinShares Organizations: PARIS, U.S . Securities, Exchange Commission, SEC, Fidelity, Ark, Paris, Invest, CNBC Locations: BlackRock, U.S, Paris, France
Binance CEO Richard Teng at the Paris Blockchain Week summit in Paris, France, on Tuesday, April 9, 2024. Binance's new CEO Richard Teng said the company has moved past cultural issues after the company was hit with a $4.3 billion fine to settle charges from the U.S. Justice Department. "But we have moved past that, as the company moved into regulatory maturity, [and] we are moving toward sustainability." In November, Binance agreed to pay a $4.3 billion settlement to the U.S. government, including a forfeiture of $2.5 billion and a fine of $1.8 billion. Former Binance CEO Changpeng Zhao was charged with violating the Bank Secrecy Act and agreed to step down.
Persons: Richard Teng, Binance, Teng, CNBC's Arjun Kharpal, Changpeng Zhao, Zhao Organizations: Paris, U.S . Justice Department, DOJ, ., U.S, BSA, Justice Department Locations: Paris, France, Binance, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew Binance CEO: Building a robust compliance program after an immature pastCNBC's Arjun Kharpal reports on the latest news from cryptocurrency firm Binance.
Persons: Arjun Kharpal
Binance CEO on the outlook for crypto markets
  + stars: | 2024-04-09 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance CEO on the outlook for crypto marketsRichard Teng, CEO of Binance, discusses his outlook for the cryptocurrency market.
Persons: Richard Teng
How India is challenging China as Asia's tech powerhouse
  + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +30 min
New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?
Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany
The U.K. competition regulator on Thursday referred the proposed merger between Vodafone and CK Hutchison's Three mobile network to an in-depth investigation. The CMA has given itself a deadline of Sept. 18 to complete the in-depth probe, also known as a phase 2 investigation. The CMA has previously said the deal could lead to customers facing higher prices and reduced quality, a lessening of competition in the U.K. mobile market. Announced last year, Vodafone and CK Hutchison's transaction would merge the two brands' U.K. businesses, giving Vodafone a 51% controlling stake and leaving CK Hutchison with the minority interest. Vodafone and Three reiterated that "there will be no change to each operator's pricing strategy as a result of the merger."
Persons: Margherita Della Valle, CK Hutchison Organizations: Vodafone, CK, Markets Authority, CMA, Regulators, CK Hutchison Locations: London, British, United Kingdom
BYD teased its upcoming electric pickup truck which the Chinese auto giant said it would launch in 2024. BYD plans to launch its first electric pickup truck this year, as the Chinese giant steps up competition with global auto firms, from Ford to Tesla. The midsize-to-large pickup truck has been developed for the global market, BYD said in a press release. The pickup will look to compete with the likes of the Ford Ranger and F-150 Lightning, the Toyota Hilux and the Tesla Cybertruck. BYD doesn't sell in the U.S., the most popular market for pickup trucks, but it has a presence in other popular markets for this type of vehicle, including in Thailand.
Persons: BYD, Tesla Organizations: Ford, Toyota Locations: U.S, Thailand
A Tesla short-seller named two auto stocks that he believes have the potential to deliver 100% upside for investors. Lekander, who holds a short position in Tesla shares, has said the EV carmaker could "go bust" while its stock could fall to $14. His comments came after Tesla reported 386,810 vehicle deliveries in the first quarter, significantly below the lowest market estimates . Valuing AI in auto Lekander also dismissed the notion that Tesla's self-driving software justifies its high valuation, noting that the product is still in early research and development. "I thus remain massively bullish quality auto stocks, Stellantis and Mercedes are my favourites as they are well run and fully investor owned," Lekander told CNBC via email.
Persons: Per, Mercedes, Tesla, Lekander, CNBC's, Lekander's, — CNBC's Arjun Kharpal Organizations: Clean, Mercedes Benz, Romeo, Chrysler, Dodge, Fiat, Jeep, EV, Nvidia, CNBC, Stellantis
Since 2020, Clean Energy Transition has been short Tesla's stock, meaning Lekander's firm will profit if the automaker's shares fall. Lekander has taken his bearish Tesla call further, suggesting the stock could fall to $14 per share. watch nowIf Tesla's stock hit $14, that would represent around 91% downside from Tuesday's close. Analysts at HSBC and TD Cowen cut their price targets on Tesla's stock on Wednesday. Cathie Wood's Ark Invest bought Tesla stock for some of its funds this week ahead of the first-quarter delivery numbers in a sign of support.
Persons: Elon Musk, Tesla, Antonio Masiello, shorting, Lekander, Tesla's, that's, Richard Windsor, Windsor, Dan Ives, Ives, TD Cowen, Cathie Wood, Tom Narayan, CNBC's Organizations: Fratelli, shorting Elon, CNBC, Wednesday, Clean, Lansdowne Partners, Volkswagen, Radio Free Mobile, Wedbush Securities, HSBC, Invest, RBC Capital Markets Locations: Italy, Rome
"So Bixby has been a key voice assistants voice assistant for Samsung not just for the mobile devices, but also for TVs and digital appliances that exist in Samsung's ecosystem. So it has been the core voice assistant assistant so far," Won-joon Choi, executive vice president at Samsung's mobile business, told CNBC in an interview last month. Choi did not give a timeline when Bixby may get generative AI features, but said that Samsung is "working so hard" to deliver them. Samsung's focus on the technology comes at a time when investors are scrutinizing what Apple will deliver when it comes to generative AI. Apple announced it would hold its annual developers conference, WWDC, in June, when the company is largely expected to talk up some AI features across its products.
Persons: SeongJoon Cho, Bixby, Samsung's Bixby, joon Choi, Choi Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, CNBC, Galaxy, Google, Apple Locations: Seoul, South Korea
They are flying cars, they're flying cars,Tom Chitty: These vehicles aren't necessarily actually cars with wheels, either, because I know that you've done you've got a program coming up soon about eVTOL. And the idea is there's going to be a fleet of these run by an operator. You've alluded to this feature program we've got coming out looking at the future of these, these flying cars, basically in these eVTOLs. And also, we can't finish this episode about flying cars and eVTOLs without talking about Chitty Chitty Bang Bang, the OG. Yeah, no, that's, that's very surprising.
Persons: Tom Chitty, Arjun Kharpal, who's, I've, we've, We've, I'm, they'd, I'd, there's, Arjun, that's, we're, you've, there'll, they're, You've, Kharpal, it's, you'll, They've, Morgan Stanley, someone's, What's, they've, They're, Big Ben, Chitty Chitty Bang Bang, Chitty Bang Bang, Tom, We'll Organizations: JPMorgan, CNBC, Mar, Airbus, Archer Aviation, Joby, Infrastructure, Boeing, Heathrow Airport, Civil Aviation Administration, U.S . Federal Aviation Administration, FAA, Autonomy, London, Transport Locations: Spain, China, Europe, Munich, Germany, beyondthevalley@cnbc.com, London, Chinese, Guangzhou, Birmingham, U.S, Manchester, it's, eVTOLs, Battersea, Heathrow
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