Which company added over 50m new paying subscribers in 2013 alone? Yup, China Mobile. The company now has 763m customers, all of whom as of Friday can now buy an iPhone.
Success! No wonder Apple chief executive Tim Cook looks excited to be in Beijing. But it might not be quite that simple. Read more
So more on those dismal China numbers.
According to Tim Cook, Apple’s CEO, the company is still doing well in the country despite the 43 per cent slump reported in quarter-on-quarter revenues. The problem – if Cook is to be believed – is not mainland China, but Hong Kong. Read more
China has proved to be a drag on the results of corporate America so far this earnings season. From Coca-Cola to McDonald’s, even companies that have long been seen as experts in mining the country for profits are finding the goings tougher as growth in the world’s second economy hits the wall.
On Tuesday, it was Apple’s turn to feel the pinch. While the company posted better-than-expected earnings thanks to strong iPhone sales, revenue from China – now Apple’s second largest single biggest market behind the US – hit the skids. Read more
Taiwanese consumers are a discerning lot when it comes to tech – it is the key industry in this island nation, after all – so it’s a bit surprising that a popular new brand on the market is a Chinese smartphone company, Xiaomi.
Strong sales meant Xiaomi nearly ran out of phones in its first foray in Taiwan, part (along with Hong Kong) of its first big push out of mainland China. But if the popularity of the launch showed the potential of the brand, some operational snags point to the trendy company’s inexperience in foreign markets. Read more
Since 2009, state-owned telecom China Mobile had been trying to get regulatory approval to buy 12 per cent of Taiwan’s Far EasTone operator, in what was the first agreement by a Chinese group to invest in a Taiwanese one.
The problem: In 2009, Taiwan didn’t let Chinese groups invest in its core telcos. The two had hoped that might change, but it hasn’t. So, as of Thursday, the deal is officially dead – at least until Taiwan liberalises more, says China Mobile. Read more
All mobile phonemakers know just how important China is to their fortunes. With around a billion mobile phone customers, and many poised to upgrade to smartphones, the industry is at a crucial point.
So Apple followers and investors should be cheered by the company’s announcement on Monday that it sold over 2m units of its new iPhone 5 in China, just three days after the December 14 launch. Game over? Not quite. Read more
For Nokia, any glimmer of hope is good news. The Finnish phonemaker and networks company on Thursday announced its Q2 results. Despite sales falling 19 per cent and a loss of €826m, its shares were up 14 per cent at one point.
So where’s the positive news coming from? Not China, certainly – yet. Despite high hopes for the country, it was the worst performing region by net sales. Read more