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On Monday, BYDs market value rose past RMB 1.16 trillion ($160 billion) to overtake that of CATL in mainland China for the first time in seven years, hours before the launch of its newest generation of electric vehicle platform, considered a major breakthrough for EV charging. The Chinese automakers shares rose about 1.2%
Porsche said Tuesday it is undergoing a major restructuring in China to improve operating expense efficiency and remain agile in a highly competitive industry, following reports that it would cut about 30% of its workforce in the country.
China accounts for a quarter of Intel’s global revenue. Intel has issued an apology to partners and customers in China after it told local suppliers it would not be using labor or goods sourced from the country’s Xinjiang region. Chinese media said Intel was “biting the hand that feeds it”.
One of the biggest dealers for Audi in China has decided to part ways with the German luxury carmaker and changed course to sell electric vehicles enabled by Huaweis in-car technologies, the latest example of global automakers scaling back in the hotly competitive market. New car sales of Audi in China declined 8.5%
Chinas EV giant has been operating its biggest production base in the capital city of central China’s Henan province since April, 2023, with around 60,000 workers. The firm ships vehicles from the plant to overseas markets such as Europe. Reuters , CGTN, TechNode reporting]
On Tuesday, Chinas State Administration for Market Regulation (SAMR) announced the launch of an investigation of Google for suspected violations of the countrys anti-monopoly laws. Google has not operated in mainland China since March 2010 due to issues related to information censorship. SAMR, in Chinese ]
Alex and Grace are back to cover the biggest and most interesting technology, startup and markets news. And there is still venture capital money flowing in China despite, you know, all the stuff going on there. Sitting as we are on the precipice of a huge data dump, we had lots to chat through!
In the first quarter, Chinas cloud service spending rose by 20% year-over-year to $9.2 billion, according to the latest data from market research firm Canalys. Alibaba Cloud led with a 37% market share, followed by Huawei Cloud at 19% and Tencent Cloud at 16%. Canalys ]
In the first quarter of 2024, Huawei’s HarmonyOS surpassed Apple’s iOS in the Chinese market for the first time, making HarmonyOS the second most-used operating system in China behind Google’s Android, according to market research firm Counterpoint Research.
In 2024, smartphone shipments in mainland China reached 285 million units, a year-on-year growth of 4%, according to market analyst firm Canalys. Vivo led the annual market with a 17% share and shipments of 49.3 million units, while Huawei ranked second with a 16% share and 46 million units shipped. Canalys , in Chinese]
Sources close to Apple have denied that the iPhone 15 series manufactured in China is intended solely for the European and American markets while the India-made iPhone 15 lineup is exclusively for the Chinese market, according to a September 13 report by China Daily. China Daily ]
In the third quarter, Chinas smartphone shipments saw a slight decline for the second consecutive quarter, dropping by 5% to 66.7 Honor regained its leading position with an 18% market share and 11.8 Vivo held fourth position with a 16% market share,while Xiaomi ranked fifth with a 14% market share. million shipments.
The Netherlands announced an expansion of export controls on chip-making machines last Friday, prompting China’s Ministry of Commerce to express dissatisfaction with the move. Chinas Ministry of Commerce, in Chinese ]
And all the while a small AI lab in China was quietly developing new AI models, including reasoning models, that would begin sending shockwaves through the AI industry by the end of 2024. Nvidia kicked off the AI race by providing the computing power with its market-dominating graphics processing units (GPUs). Gemini 2.0
Apple is in negotiations with leading mobile service provider China Mobile to launch its Apple TV+ streaming service in China, according to an exclusive report by US media outlet The Information. If negotiations succeed, Apple TV+ will be the only US streaming service available in China. The Information ]
On March 10, Sony China refuted recent rumors that its new smartphones may cease sales in China, affirming the stability of all its operations in the country, including its smartphone business. Global Times, in Chinese ]
22, Tencent witnessed a decline of approximately $46 billion in market value, while NetEase faced a loss of around $17 billion, after a surprising move by Chinas gaming authority, which introduced new regulations targeting excessive gaming and spending.
Tesla is making a renewed push into the Chinese insurance market with the establishment of a wholly-owned subsidiary with a registered capital of RMB 50 million ($6.92 million) and its China chief Tom Zhu as the legal representative in Beijing on July 30. The new company, called Tesla Insurance Brokerage (China) Co.,
The State Administration for Market Regulation (SAMR) of China announced Monday that it has launched an investigation into NVIDIA, suspecting the American chipmaker of violating Chinas antitrust laws during its acquisition of Mellanox Technologies.
Nvidia’s latest AI chip for the Chinamarket has faced a sluggish start, with oversupply leading to prices lower than a competing chip from Huawei, Reuters reported. Nvidia, a leader in AI chips, launched three China-specific chips late last year following USexport restrictions on its most advanced semiconductors.[
Apple is reportedly in talks with Tencent and ByteDance to incorporate their AI models into iPhones sold in China, Reuters reported today. The move comes as Apple faces challenges with its AI offerings in the Chinese market. However, negotiations with Baidu have faced hurdles. Reuters ]
Nokia has laid off around 2,000 employees, about 20% of its workforce in China, and plans to cut another 350 jobs across Europe to reduce costs, Reuters sources say. A Nokia spokesperson confirmed the European layoffs but did not comment on those in China. As of December 2023, Nokia had 10,400 employees in China and 37,400 in Europe.
million cars, but its sales in China felll by 6.9% Toyota said its China sales were hampered by the countrys transition towards electrification and an intense price war, although the central governments auto trade-in subsidies provided a boost to the overall market during the second half of last year. to approximately 1.8
Chinas passenger car sales are expected to rise 4% in September year-on-year and 10.1% An estimate by the China Passenger Car Association (CPCA) said new enery vehicles (NEVs), mainly battery electric vehicles and plug-in hybrids, could expand its market share with a penetration rate of 52.4%, and sales of NEVs could rise 47.3%
Since ASML’s first lithography machine entered China in 1988, we have been in the Chinese market for over 30 years. Under the regulations and laws, we remain committed to conducting business in China, ASML said on Tuesday, the opening day of the 7th China International Import Expo. Guancha, in Chinese ]
On August 24, Chinese phone brand Honor confirmed it had secured a new investment from leading Chinese telecommunications operator China Mobile, in what is expected to be the last round of funding before Honors IPO. Neither company has disclosed the value of the financing. Icsmart, in Chinese ]
To address the increasing tech tension between China and the US, the companies are discussing expanding their Singapore subsidiary to diversify chip production, said Andy Micallef, NXP’s Executive Vice President. In 2023, the global automotive semiconductor market reached $69.2 Guancha, in Chinese ]
On June 10, at WWDC 2024 (the Worldwide Developers Conference), Apple CEO Tim Cook announced plans for the Apple Vision Pro to be launched in markets outside the US, with pre-orders in China beginning on June 14 and official sales starting on June 28. Japan and Singapore will also start sales on the same day.
Teslas senior vice president, Tom Zhu, a longtime head of its China operations and once deemed as the top internal candidate to replace chief executive Elon Musk, is to reprise the position as the vice president of Greater China he held until last August.
Hergenrother said the company has made the difficult decision to shift its infrastructure business, which has declined in recent years in China, to other countries closer to customers based on market opportunities. Last Friday, IBM closed the intranet access rights of its China R&D staff. Jiemian, in Chinese ]
Amazon has announced that its Kindle China eBookstore will cease its cloud download service on June 30, 2024. In 2022, Kindle announced its withdrawal from the Chinese market and stopped operating the Kindle China eBookstore on June 30, 2023. Amazon has provided refund services to users, maintaining them until June 30, 2024.
Japans Honda Motor said on Tuesday it is introducing a new electric vehicle brand in China, and will use components from local companies including CATL, Huawei, and iFlyTek as it looks to adapt to significant changes in the highly competitive Chinese car market. The companys sales declined 10.1% to roughly 1.2
However, in a move to encourage platform compatibility, China’s National Development and Reform Commission today released the Guidelines for Building a Unified National Market (Trial), which aims to break down these barriers. Jiemian, in Chinese ]
Chinas National Radio and Television Administration has required short web dramas must submit to censorship before airing in online platforms, in a strict new regulation targeting the popular content format. Dramas that have not been filed are prohibited from distribution from June. 1, according to local media agency Caixin.
Data from the China Academy of Information and Communications Technology (CAICT), shows that in May, iPhone shipments in China increased by 40% year-on-year, continuing Aprils rebound momentum. MyDrivers, in Chinese]
Honor on Thursday launched its first flip foldable phone, the Magic V Flip, as the Chinese phone maker aims to intensify its competition in the high-end foldable market against leading players such as Samsung and its former parent company Huawei. In the first quarter, Honor led China’s smartphone market with a 17.1%
billion) for the development of smart and electric vehicles in China by 2027, an executive said recently, adding that their joint venture aims to become a leader in a highly competitive industry. of the Chinese passenger car market, down 4.2% year-on-year, according to figures published by the China Passenger Car Association.
Starbucks China has appointed Tony Yang as its first-ever Chief Growth Officer (CGO), Chinese tech media LatePost reported yesterday. Yang, previously President and Partner at digital marketing firm Tizeng, joined Baidu-backed electric car startup Jidu in January 2023 to head user development. LatePost, in Chinese ]
BMW MINI will start producing pure electric models in China in 2024, with plans to export EVs overseas in the same year, according to a September 8 report by Chinese news outlet Caixin. BMW MINI, known for its compact vehicles targeting the younger end of the driver market, achieved sales of 28,700 units in China in 2022.
The German luxury carmaker expects the long-awaited, China-made sportback, renamed A5L and equipped with assisted driving technologies from Huawei, to offer consumers in China ample cabin space, Chinese media outlet Mingjing Pro reported. meters in length, company sources told National Business Daily.
Tesla has quietly launched a redesigned Model Y sports utility vehicle without any warm-up activities in China at a price that is RMB 13,600 ($1,855) higher than that of its predecessor. Teslas aging product lineup in China had reduced its market share from 7.8% TechCrunch , CNBC ]
Retail employees from China, Australia, Germany, France, Japan, South Korea, and Singapore flew to Apples headquarters in California last week for a four-day training session on demonstrating the mixed-reality Vision Pro headset, according to sources from Bloomberg. Apple has yet to disclose international pricing. Bloomberg ]
Last year, the Bangalore-based startup launched Moj — a short-form video app that it says has already amassed over 80 million monthly active users — to fill the void left after New Delhi banned TikTok , which counted India as its biggest international market prior to being blocked. “We built the app in 30 hours. .
20, Nvidia China employees shared photos on social media of Jensen Huang, the companys founder and CEO, at its annual meeting in Shanghai. During the internal event, he was seen wearing a flower-patterned shirt from the northeastern region of China and dancing a traditional Chinese folk dance from the same region.
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