Companies
Apple losing its shine in China
Journalists attending Apple’s new product launching event are invited to test the new iPhone 7. LIU ZHENG/CHINA DAILY
Apple Inc unveiled its new water and dust-resistant iPhone 7 with high-resolution cameras at its fall product event on Wednesday, and said a Super Mario game was coming to the new phone and Pokemon Go would feature on its upgraded Apple Watch.
The excitement at the Bill Graham auditorium in San Francisco was not matched on Wall Street, where Apple’s stock was down 0.3 percent. However, Nintendo’s US-listed shares jumped more than 20 percent to trade around $35 on hopes its games would reach a new audience.
The world’s best-known technology company said the iPhone 7 would have one, zooming 12-megapixel camera and the ‘Plus’ edition would feature two cameras.
It also removed the analog headphone jack, as was widely expected. The new headphones supplied by Apple with the phone will plug into the same port as the recharging cord, but it will also work with Apple’s new wireless headphones, called Air Pods.
The company typically gives its main product, which accounts for more than half of its revenue, a big makeover every other year and the last major redesign was the iPhone 6 in 2014. The modest updates suggest that this cycle will be three years.
Due to the limited improvements seen in successive iPhone models and a wider range of alternatives from domestic smartphone makers, Chinese consumers are less enthusiastic about the iPhone 7 and 7 Plus Apple unveiled Wednesday, experts said.
Sina Weibo, the “Chinese Twitter”, shows that in the month before this year’s launch, the new iPhone has given rise to one fifteenth as many comments as the iPhone 6 generated during the same period last year.
This flattening enthusiasm is echoed by the latest data from China’s biggest search engine Baidu. In July, there were 96.8 million iPhone-related searches – a 27 percent drop from last year’s figure.
James Yan, research director…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
(more…)Companies
Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
(more…)Companies
Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- Gordonstoun Severs Connections with Business Led by Individual Accused of Espionage for China
- China Dismantles Prominent Uyghur Business Landmark in Xinjiang – Shia Waves
- China Expands Nationwide Private Pension Scheme After Two-Year Pilot Program
- How a scandal over sanitary pads is shaping feminist activism in China
- Yakult Unveils Restructuring Plans for Its China Operations | ESM Magazine
- Italy’s Strategic Shift Towards China After Exiting the Belt and Road Initiative