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Volume of Apple sales underperforms Huawei, Xiaomi on China's Singles Day
Economic Times
·
1y ago
Medial
According to data from Counterpoint Research, Apple saw a 4% decline in the number of smartphones sold during China's Singles Day shopping festival. In contrast, domestic rivals Huawei and Xiaomi recorded significant increases of 66% and 28% respectively. Analysts attribute Apple's underperformance to supply chain issues and competition from Chinese brands.
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China's Xiaomi to launch self-developed mobile chip in late May
Economic Times
·
2m ago
Medial
Xiaomi announced the upcoming launch of its self-developed mobile phone chip, XringO1, in late May, aiming to advance its mobile processor capabilities beyond simpler components like power management chips. As competition intensifies in China's smartphone market, with rivals Huawei and Apple utilizing custom-designed chips for integrated ecosystems, Xiaomi seeks to enhance its user experience. The announcement was made by CEO Lei Jun on Weibo, without additional details provided.
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Apple can’t do cars. Meet the Chinese tech giants that can
Livemint
·
9m ago
Medial
Chinese tech firms such as Baidu, Huawei, and Xiaomi are making their mark in the car industry, leveraging their expertise in software, hardware, and autonomous driving technology. These companies are targeting the Chinese market, where young consumers value software and entertainment systems in cars. Baidu has partnered with Geely to establish JIDU, focusing on providing technology for voice recognition and autonomous driving software. Huawei assists carmakers like Seres with software and hardware in exchange for a percentage of sales. Xiaomi, on the other hand, recently received permission to produce its own vehicles. However, profitability remains a challenge due to regulatory hurdles and intense price competition in China's EV industry.
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China's Huawei reports nearly $100 billion in sales and claims it has overcome the 'siege' of US sanctions
Business Insider
·
1y ago
Medial
Chinese tech giant Huawei expects sales revenue of over $98.5 billion this year, signaling a 9% increase and defying US sanctions and competition from Apple. While still below its peak in 2020, Huawei's chairman remains optimistic about the company's performance. Huawei has faced tension with the US, accused of having close ties to the Chinese military and government. However, it has managed to develop its own cutting-edge chip technology and has been boosted by China's efforts to reduce reliance on Western technology. Huawei plans to invest in emerging technologies and strengthen business operations.
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iPhone’s steady evolution is costing Apple in China
Livemint
·
1y ago
Medial
Apple experienced a decline in sales in China, even after offering discounts on iPhones, suggesting that some Chinese consumers no longer view Apple products as the most technologically advanced. iPhones lack the built-in artificial intelligence features offered by competitors like Huawei. Chinese consumers cited a lack of hardware advancements as a reason for not purchasing new iPhones and instead, opting for Huawei or keeping their old iPhones longer. Apple executives remain confident about the China market, stating that the brand remains strong. However, Chinese rivals with cheaper options and better features have gained momentum during China's economic slowdown.
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Alibaba's strong year-end sales help to drive revenue rebound
Economic Times
·
5m ago
Medial
Alibaba reported stronger-than-expected third-quarter revenues, driven by successful year-end sales and effective strategies to attract cost-conscious consumers. The company experienced a boost from international markets and increased spending during China's Singles' Day event, contributing to a 26.6% rise in sales. Alibaba's growth extends into AI and cloud computing, with a 13% revenue increase in its Cloud Intelligence Unit and significant international ecommerce growth. Investor confidence is boosted by strategic business wins and co-founder Jack Ma's public reappearance with President Xi Jinping.
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China's Singles Day sales festival wraps up with ecommerce giants reporting sales growth
Economic Times
·
1y ago
Medial
Chinese ecommerce platforms Tmall and Taobao, owned by Alibaba Group, experienced positive year-on-year growth during the recent Singles Day sales period. Rival JD.com also reported record-high gross merchandising volume during the festival. The event, which expanded from a 24-hour online shopping event to weeks of promotions across various platforms and physical stores, is seen as a gauge of consumer confidence. Alibaba aimed to offer rock-bottom prices, with steep discounts of 40-50%, in response to competition from rivals Douyin and PDD Holdings' Pinduoduo. Bain and Company reported that shoppers focused on essential items while spending less on big-ticket categories.
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Xiaomi surpasses Apple in global smartphone sales for August 2024
Livemint
·
10m ago
Medial
Chinese smartphone manufacturer Xiaomi has surpassed Apple in global smartphone sales for August 2024, marking the first time Xiaomi has held the second spot since August 2021. Counterpoint Research's Smartphone 360 Monthly Tracker highlighted Xiaomi as one of the fastest-growing smartphone brands this year, driven by successful promotions in Latin America. Xiaomi's focus on simplifying its product lineup and its expansion into new territories have contributed to its recent success. Meanwhile, Apple saw a decline in sales, which resulted in its fall to third place.
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Xiaomi accuses Huawei executive of misrepresenting facts in smartphone patent spat
Economic Times
·
1y ago
Medial
Chinese smartphone maker Xiaomi has accused Huawei executive Yu Chengdong of misrepresenting facts regarding patent infringement. Yu had referred to "dragon bone" technology in a complaint about patent infringement, which was widely interpreted as targeting Xiaomi. Xiaomi defended its "dragon bone" hinge technology, stating that it was developed independently. The company urged Yu to stop unfairly criticizing competitors and misleading the public. Both Xiaomi and Huawei have previously engaged in disputes over smartphone specifications.
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Huawei beats Apple to reclaim ‘Top Spot’ in China's smartphone market: Report
Livemint
·
1y ago
Medial
Apple has slipped to fifth place in China's smartphone market for the first quarter of 2024, marking a significant decline for the tech giant in the region. Huawei returned to the top position, followed by Oppo, Honor, and Vivo. Apple's decline comes at a challenging time, as it faces a 25% year-on-year decrease in iPhone sales in China. Huawei's success is attributed to its Mate and nova series, with a notable increase in shipments. Apple will need to find new ways to regain its footing in the Chinese market.
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Why a Chinese gadget company can make an electric car and Apple can't
Economic Times
·
5m ago
Medial
After nearly a decade of attempts, Apple abandoned its electric car project, which cost $10 billion. Meanwhile, China's Xiaomi successfully launched its first electric car after just three years, delivering 135,000 units, with plans to double production by 2025. Xiaomi leveraged China's robust electric vehicle supply chain, offering affordable, feature-rich cars like the SU7. Chinese EV companies, backed by government support, now dominate global battery production, exemplified by BYD and CATL's success.
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