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☆ 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

☆ Xiaomi bets big on its new electric vehicle — targets 20 million premium users
▼ + stars: | 2024-02-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. Xiaomi revealed its SU7 electric car in China in late December but has yet to announce a specific price. Building on its tech capabilities as a telecommunications and smartphone company, Huawei has swiftly become a player in China's electric car market. Apple has yet to formally enter the electric car market despite reports it has been working on one. But the system is due for rollout in the coming months to appliances and the forthcoming car, Lu said.

Persons: Xiaomi, Evelyn Cheng, it's, Weibing Lu, Lu, That's, Lu Xiaomi Organizations: CNBC, Mobile, Apple, Samsung, Porsche –, Huawei, Baic Group, Xiaomi Locations: Evelyn Cheng BEIJING, China, Barcelona, Beijing, Xiaomi, Canalys

☆ Huawei sets up new smart car company in Shenzhen, China as it gets more serious about autos
▼ + stars: | 2024-01-18 | by ( Michelle Toh | Wayne Chang | ) edition.cnn.com time to read: +5 min

The company incorporated Shenzhen Yinwang Intelligent Technology Co Ltd on Tuesday in the southern Chinese city of Shenzhen, where Huawei is based. The news marks another milestone for Huawei, which has accelerated its automotive ambitions in the past three years. But it has been hobbled in recent years by US export restrictions, which sent the company into a tailspin. The unveiling coincided with a launch by Chinese rival Xiaomi of its own first electric car, showing how competition between the two companies has spilled over to another sector. In November, a subsidiary of Changan, a Chinese state-owned automaker, disclosed that it had partnered with Huawei to form a new company created to provide smart car systems.

Persons: Elon Musk’s Tesla, Warren Buffett Organizations: Taipei CNN, Huawei, Intelligent Technology Co, Elon, Chongqing Changan Automobile Co, Changan, Shenzhen Yinwang, Automotive, Ministry of Industry, Information Technology, Economic Locations: Hong Kong, Taipei, Shenzhen, China, Changan, Chongqing, United States, Davos, Switzerland

The launch event became the most discussed topic on Chinese social network Weibo, racking up six billion views and 1.6 million posts. Huawei quietly started selling the Mate 60 Pro in August, without a formal launch event or sharing full technical specifications. The company “knows everyone wants to know more about the chip [in the Mate 60 Pro], so them not talking about it is almost like defiance,” he said. Its share of the Chinese market rose from 6.9% to 11.3% over that period. The Shenzhen-based company has seen a recent “surge in sales” for its Mate 60 series, with weekly sales almost tripling to 225,000 units, according to Counterpoint.

Persons: Richard Yu, Tesla, ” trended, “, ”, Yu, Andy Lau, Ben Sin, Andrea Verdelli, Ivan Lam, Lam, Tesla Yu, ” Yu Organizations: Hong Kong CNN, Huawei, United, Weibo, Bloomberg, Research, Tesla’s Locations: China, Hong Kong, United States, Washington, Weibo, Beijing, Shenzhen

☆ Hedge fund investor Dan Niles says Apple is now his largest single stock short
▼ + stars: | 2023-09-07 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Widely followed investor Dan Niles revealed Thursday he dumped his Apple shares and started betting against the tech giant in a significant way. "Sold $AAPL & now our largest single stock short," the founder and senior portfolio manager of the Satori Fund said in a post on X , formerly known as Twitter. The hedge fund manager bought Apple on Aug. 18 and started selling Wednesday, he said. Shares of Apple were down for a second day in a row, bringing losses this week to more than 6%. AAPL YTD mountain Apple Secondly, Niles said Huawei's resurgence could pose a threat to Apple.

Persons: Dan Niles, Satori, Niles Organizations: Apple, Twitter, Bloomberg News, Street Journal, Revenue Locations: China, Shenzhen

CFOTO | Future Publishing | Getty ImagesHigh-end focus aims to challenge AppleHuawei's strategy has become more refined, as it looks to compete in the premium segment of the smartphone market, rather than across all sectors. "Huawei's smartphones took the second spot in the high-end segment. The company released its Mate X3 foldable this year, and that device, along with the flagship P60, helped the company boost its premium segment share. "It totally makes sense for Huawei to focus on the premium segment. Software pushPart of Huawei's high-end strategy revolves around HarmonyOS, an operating system it says is designed for smartphones and other devices like wearables and TVs.

Persons: Yu, Will Wong, HarmonyOS, Celia, Huawei's, it's, Jia Yongli, Jia Organizations: Huawei, Getty, Apple, IDC, Huawei's, Reuters, CNBC, Software Locations: China

☆ China's Huawei partners with more automakers to produce Aito EVs
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 1 (Reuters) - China's Huawei Technologies (HWT.UL) is partnering with more legacy automakers to produce Aito-branded electric cars, the company's senior executive said on Saturday, in a move to expand its presence in the auto industry. Huawei will team up with Chery Automobile (CHERY.UL), BAIC Motor (1958.HK) and Anhui Jianghuai Automobile Group (600418.SS) in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei's Smart Car CEO, said at the China EV 100 forum in Beijing. Huawei, which has already a partnership with Seres Group (601127.SS) to make Aito cars, plans a series of models including SUVs, sedans and multipurpose vehicles under the Aito brand, Yu added. Huawei has been hit by a series of export controls by Washington which says it is a security risk, which the company denies. The sanctions have also affected Huawei's partnerships with global automakers, who have given up using Huawei's vehicle connectivity technologies in the past two years, Yu said on Saturday.

☆ Huawei reports biggest profit decline ever as U.S. sanctions, pandemic controls hit Chinese giant
▼ + stars: | 2023-03-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

But its profit plunged as pressure from U.S. sanctions and China's pandemic controls weighed on the Chinese technology giant. The Chinese telecommunications giant said net profit for 2022 totaled 35.6 billion yuan ($5.18 billion), a 69% year-on-year decline. Huawei reported on Friday its biggest annual decline in profit on record as U.S. sanctions continue to hit its business and strict pandemic controls in China weighed on the company. With challenges in both the carrier and consumer business, Huawei has sought to diversify the company into new areas. Huawei said its nascent "Intelligent Automotive Solutions" unit brought in 2.1 billion yuan in 2022.

☆ China's flood of new electric cars cost 20% more to insure than fuel-powered cars
▼ + stars: | 2022-09-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — While Chinese companies churn out new electric cars, local insurance firms think they're more expensive to cover. But repair costs are another reason for higher insurance prices, since "fewer places have the capability to service electric cars in the U.S.," Gardner said. watch nowIn the U.S., Insurify's analysis of the U.S. market found there was no difference in accident rates among electric cars, hybrids and combustion engine cars. But by official Chinese statistics, new energy vehicles in the country are more prone to fires than traditional fuel-powered ones. Electric cars are based on a platform system, and certifying safety can be faster, he said, noting potential use of virtual testing scenarios, or the ability to test individual parts.

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