BEIJING: At first glance, it’s a seemingly busy weekday morning for the fruit and vegetable shop that Mr Li Hongyan works at, located in a residential area in the Chinese capital.But it is not business as usual.Consumers in China are starting to feel the pinch as the country grapples with rising food prices, with factors such as bad weather and disease causing supply to dip.Officials have sought to allay concerns, saying that it will step up monitoring as well as efforts to guarantee supply of necessities, such as fruits, vegetables and meat.Fresh fruit prices jumped 27 per cent in May, compared to a year ago. Mr Lu said some customers avoided buying the more expensive fruits.“This year, especially apples and pears, the price has gone up by a lot more compared to previous years," said Mr Li."The price has gone up because the supply is down.”Fruit supply has been affected by severe weather in parts of China. Business has taken a hit, Mr Li … [Read more...] about Consumers in China feel the pinch as food prices rise
Apple in china
SAN FRANCISCO: Apple is seen as a prime target for retaliation over US moves against the Chinese tech giant Huawei, but the roots planted by the company in China should help it weather the storm, analysts say. While Beijing may take aim at Apple in the countries’ high-stakes trade war, experts believe that the company’s size, cachet, and years spent cultivating business relationships in China should protect it from any direct retaliation. “As the US pounds on Huawei, Apple is the likely target for China to pound back,“ technology analyst Rob Enderle of Enderle Group said. “As the trade war accelerates, then Apple and Huawei are the two firms likely to get the damage,“ he said. Huawei has been thrust to the center of escalating tensions between the world’s two top economies, which have exchanged tariffs on hundreds of billions of dollars in two-way trade. President Donald Trump’s administration has infuriated Beijing by blacklisting the … [Read more...] about Will Apple’s roots in China hold fast amid political storm?
WASHINGTON: The tough sanctions imposed on Huawei by President Donald Trump could deal a blow to the many US firms that make up the Chinese tech giant's supply chain.American firms last year sold an estimated US$11 billion worth of components to Huawei, which was put on a blacklist last week by Washington over national security concerns as trade frictions grow between the US and China.Trump's executive order could effectively ban makers of US hardware and software from selling to Huawei by requiring a special licence from Washington.The Commerce Department on Monday delayed the sanctions on Huawei for 90 days, saying the additional time was needed to allow for software updates and other contractual obligations.The agency said it was granting Huawei a "temporary general license" through August 19 allowing for transactions "necessary to maintain and support existing and currently fully operational networks and equipment, including software updates and patches, subject to legally binding … [Read more...] about Huawei sanctions: A blow to US tech firms in supply chain?
SAN FRANCISCO (AFP) - China-based Huawei outsold Apple's iPhones in the first quarter of this year, seizing the California company's second place spot in a tightening smartphone market dominated by Samsung, a tracker said Tuesday (April 30). A total of 310.8 million smartphones were shipped globally during the first three months of this year in a 6.6 per cent decline from the same period in 2018, according to preliminary data from the Chinese-owned International Data Corporation (IDC). It was the sixth consecutive quarter of decline for global smartphone shipments, the market tracker added. IDC saw the results as a sign that 2019 will be another down year overall for smartphone shipments, apart from strong growth by Huawei. "It is becoming increasingly clear that Huawei is laser focused on growing its stature in the world of mobile devices, with smartphones being its lead horse," said IDC mobile device programme director Ryan Reith. "The overall smartphone market continues to be … [Read more...] about Huawei jumps ahead of Apple in tough smartphone market
REUTERS: Apple Inc on Tuesday forecast stronger-than-expected third-quarter revenue and Chief Executive Tim Cook said iPhone sales had started to stabilize in China, a sign that Apple's price cuts there are helping limit sales declines.IPhone sales marked their steepest decline ever, falling 17 percent in the fiscal second quarter from a year earlier and slightly missing analyst expectations. But Apple executives said a pickup in iPhone sales toward the end of the second quarter, along with growth in sales of services and wearable devices, made them optimistic about the current quarter.Shares rose more than 5 percent to US$211.50 in after-hours trading after Apple announced the results.Apple said it expects revenue between US$52.5 billion and US$54.5 billion for the current quarter ending in June, above analysts' average estimate of US$51.93 billion, according to IBES data from Refinitiv.In an interview, Apple Chief Executive Tim Cook said that iPhone sales started to strengthen during … [Read more...] about Apple optimistic on sales as iPhone price cuts help in China