live 'Hormuz cannot be seized by tweet,' Iranian official says after Trump threats
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Ministe...
Apple lost its position as China’s top smartphone seller in 2024, with Vivo and Huawei surpassing it after a 17% drop in shipments, marking its largest-ever annual decline. Rising competition, Huawei’s comeback, and shifting consumer trends challenge Apple’s market position.
Apple has lost its position as China's top smartphone seller in 2024, with local rivals Vivo and Huawei surpassing the company after its shipments in the country fell by 17%, according to data released by research firm Canalys on Thursday.
This marks Apple’s largest-ever annual sales decline in China, with a drop seen in all four quarters of the year, including a significant 25% dip in the final quarter. For the year, Vivo, known for its budget smartphones, captured 17% of the market share, followed by Huawei at 16%, and Apple at 15%. The shift highlights the increasing competition Apple faces from domestic brands in one of its most important global markets.
The decline also underscores how factors such as the lack of artificial intelligence features in the latest iPhones—especially in a China where ChatGPT is not accessible—are impacting Apple’s competitive edge. Canalys analyst Toby Zhu remarked, "This is Apple's worst performance in China to date."
He further pointed out the challenges facing Apple's premium market position, noting the strong presence of Huawei’s flagship releases, the rise of foldable Android phones in the high-end market, and growing consumer loyalty to brands like Xiaomi and Vivo, which continue to innovate with new technologies.
Apple had experienced four years of consistent growth following U.S. sanctions on Huawei in 2019, which limited its access to American tech. However, since launching new phones with domestically-produced chipsets in August 2023, Huawei has made a strong return to the premium segment, posting a 24% increase in shipments in the fourth quarter.
Apple has responded to the market pressure by offering rare discounts, including a four-day promotion in China from January 4-7, where it offered price cuts of up to 500 yuan ($68.50) on its iPhone 16 models through its official channels. E-commerce giants, such as Alibaba’s Tmall, followed suit with their own price cuts, offering discounts up to 1,000 yuan ($137) on the latest iPhone 16 series.
Among the top five vendors, Xiaomi showed the strongest growth, with a 29% increase in shipments in the fourth quarter, while Oppo and Vivo saw increases of 18% and 14%, respectively, according to Canalys data. Overall, smartphone shipments in China grew by 4% year-on-year in 2024, reaching 285 million units.
Flights at Catania airport in Sicily will remain suspended until early Friday as ash from Mount Etna continues to disrupt air travel, following hundreds of cancellations and diversions over the past week.
Hundreds of flights have been cancelled or rerouted at Catania Airport over the past week as ash from Mount Etna’s ongoing eruption continues to disrupt air travel in Sicily.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
The U.S. will impose unprecedented measures on Iran in order to economically isolate the country, U.S. Treasury Secretary Scott Bessent has said.
One person has been killed and six others injured after an explosion at a petroleum storage facility at the Port of Rotterdam, prompting an investigation into the cause.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
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