Huawei has been low key about the device, but its capabilities have raised concerns that China has been able to circumvent U.S. The phone reportedly has enough power and speed to rival the iPhone and has been selling briskly in China. Faster Huawei phoneĪpple also faces a threat from Chinese tech giant Huawei, which recently launched its latest flagship smartphone, the Mate 60 Pro. Wedbush analyst Dan Ives noted in a report that Apple's share of the smartphone market in China has surged over the last 18 months and that next week's iPhone 15 release will stoke even greater demand.īanning the device for usage by government employees would reduce iPhone sales in China by only about 500,000 units, he estimated, a fraction of the 45 million phones Wedbush expects Apple to sell in China over the next 12 months. Yet some Apple watchers think the risks posed by China's iPhone restrictions are overblown. Reports are swirling that big changes are in store for the iPhone, including a switch from Apple's Lightning connector to the USB-C plug that rivals are starting to adopt, partly in response to a European Union mandate.
04:58Ī teaser of the livestream for the event, dubbed "Wonderlust," has been posted on YouTube, revealing no details. What China's economic slump could mean for U.S. and its like-minded allies are better economic and security partners than China. to highlight a proposition for developing and middle-income countries that would increase the lending power of the World Bank and International Monetary Fund by some $200 billion. Biden, who departed Thursday evening for New Delhi, will use the annual G20 summit as an opportunity for the U.S. high-tech investment in China, reflecting the intensifying competition between the world's two largest economies. and China have been rising and early last month, President Joe Biden signed an executive order to impose blocks and regulations on U.S. When asked about the ban at a daily briefing in Beijing, Chinese Foreign Ministry spokesperson Mao Ning didn't comment directly, saying only that "products and services from any country are welcome to enter the Chinese market as long as they comply with Chinese laws and regulations." Growing tensions The ban widens earlier restrictions on using iPhones for work, the outlets said. The Financial Times cited six unnamed sources at government institutions and state-owned companies, including a nuclear technology company and a hospital, saying they've been told to stop using Apple phones. The iPhone ban was first reported by the Wall Street Journal, which cited unnamed sources saying China is ordering officials at central government agencies not to use the devices or other foreign branded phones.
Despite that mild slump, the stock has risen nearly 38% this year, largely on the strength of Apple's growing business for services such as Apple Pay and iCloud storage. Apple's gold-plated stock suffered a rare setback this week, with the technology giant's market value sinking roughly $200 billion amid reports that China is banning government employees from using iPhones.Īpple shares fell 3% Thursday and are down more than 5% for the week, although they nosed up in early trading Friday.
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