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Why is China falling out of love with the iPhone?



In the first six weeks of 2024, Apple witnessed a significant 24% year-on-year decline in iPhone sales in China, according to research conducted by Counterpoint.

This dip has raised concerns over the tech giant’s market performance, particularly as it faces intensified competition from domestic contenders like Huawei.

Counterpoint’s findings reveal a contrasting scenario for Huawei, which saw a remarkable 64% surge in unit sales during the same period, solidifying its position as a formidable rival to Apple in the premium smartphone segment in China.

The implications of this decline in iPhone sales have been reflected in Apple’s revenue forecast for the current quarter, which falls a staggering $6 billion below Wall Street’s expectations.

Sharp decline

Apple’s market share in the Chinese smartphone arena has also experienced a notable setback, dropping to 15.7% and placing the company in fourth position.

This is a sharp decline from its second-place ranking a year ago when it commanded a 19% market share.

The repercussions of Apple’s slump were evident in the stock market, with shares of the company dipping nearly 3% on Tuesday. Year-to-date, Apple’s stocks have depreciated by approximately 10%, trailing behind its major tech counterparts in the United States.

Counterpoint’s analysis points to a broader trend in the Chinese smartphone market, which contracted by 7% overall.

Huawei, now occupying second place, expanded its market share to 16.5% from 9.4% a year earlier, signaling a resurgence for the brand.

Mengmeng Zhang, a senior analyst at Counterpoint, attributed Apple’s challenges to stiff competition from Huawei at the high end and aggressive pricing strategies from other domestic players like OPPO, Vivo, and Xiaomi.

In response to this competitive landscape, Apple initiated price subsidies for select iPhone models, offering discounts of up to 1,300 yuan ($180.68) through its flagship stores on Tmall, Alibaba’s major marketplace platform.

This move follows earlier discounts of up to 500 yuan offered on its official sites last month.

Huawei’s resurgence in the premium smartphone segment can be attributed to its Mate 60 series release in August, marking a turnaround after years of grappling with US restrictions on critical component exports.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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TikTok launches Instagram competitor ‘Notes’



TikTok Notes has launched in Australia & Canada as a formidable competitor to Instagram, offering a unique platform for content creation, text and sharing.

“TikTok Notes is a lifestyle platform that offers informative photo-text content about people’s lives, where you can see individuals sharing their travel tips and daily recipes,” reads the official App Store description.

Take note

The app allows users to create content by combining short videos with text-based notes, closely resembling that of Meta’s Instagram.

Whether it’s sharing a quick tutorial, a personal anecdote, or a thought-provoking message, TikTok Notes is positioned to be a formidable social media platform.

Currently, the app is only available for download and “limited testing” in Australia and Canada.

As it gains momentum, the platform is poised to contest Instagram’s established reign in the social media landscape.

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Ramifications of a TikTok ban to impact Open Internet



The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.


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BlackRock CEO Larry Fink says AI leads to higher wages



Larry Fink, the CEO of BlackRock Inc., has outlined his vision for the impact of the firm’s investment in artificial intelligence.

During the company’s recent earnings call, Fink emphasized the connection between productivity gains driven by AI and the potential for rising wages among BlackRock’s workforce.

He explained the firm’s ambition to leverage AI technology to enhance efficiency, enabling employees to accomplish more with fewer resources.

Fink’s remarks underscore BlackRock’s strategic approach to harnessing AI as a tool for optimising operations and driving organisational growth.

Read more – Australia’s productivity gap widens

By leveraging AI-driven productivity enhancements, the company aims to empower its employees to deliver greater value, thereby paving the way for wage increases across the organisation.

The CEO’s statement reflects a broader trend in the intersection of technology and labor dynamics, where advancements in AI and automation have the potential to reshape workforce dynamics and compensation structures.

Fink’s optimism about the transformative impact of AI investment on employee wages highlights BlackRock’s commitment to embracing technological innovation as a catalyst for sustainable business growth and employee prosperity.

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