Latest news with #WillWong
Reuters
28-05-2025
- Business
- Reuters
China's Xiaomi shares jump after record profit and revenue
HONG KONG, May 28 (Reuters) - Xiaomi ( opens new tab shares jumped as much as 3.4% on Wednesday after it reported record first-quarter revenue and profit and said its shift towards higher-end products from smartphones to home appliances was already paying off. The Hong Kong-listed shares of the world's third-largest smartphone maker, whose products also extend to cars, rose to HK$53.3 in early trade, before paring gains. The stock was trading 0.6% higher later in the session. Xiaomi now commands a market value of about $171 billion, higher than the roughly $160 billion of BYD ( opens new tab, China's biggest EV maker, according to LSEG data. Analysts said Xiaomi's diversified businesses helped it better navigate a bruising price war in the Chinese electric vehicle sector, where the biggest manufacturers are cutting prices to win customers. "The key difference between Xiaomi and other companies is that it's not simply a smartphone company or a car OEM (original equipment manufacturer)," said Will Wong, a senior smartphone analyst at research firm IDC. "It could be seen as a 'lifestyle' company that offers day-to-day products used by consumers," he said, although economic uncertainties amid a global trade war could pose a downside risk.
Indian Express
14-05-2025
- Business
- Indian Express
Chinese e-commerce sites offer discounts of up to $351 on Apple's latest iPhones
Chinese e-commerce platforms are offering discounts of up to 2,530 yuan ($351) on Apple's latest iPhone 16 models, an effort to spur sales as first-quarter shipments by the U.S. tech giant fell further in its second-largest market. The step comes as Chinese online retailers increasingly vie for cost-conscious consumers in a slowing economy, with price cuts taking centrestage ahead of the annual '618' shopping festival on June 18, one of the country's largest. is selling the iPhone 16 Pro with storage of 128GB at 5,469 yuan, down 2,530 yuan from Apple's official price of 7,999 yuan, Reuters checks showed on Wednesday. The iPhone 16 with 256GB storage is listed at 5,469 yuan, or a drop of 1,530 yuan from its official price of 6,999 yuan, including government subsidies. Alibaba's Tmall marketplace is offering comparable discounts, selling the iPhone 16 Pro with 128GB at 5,499 yuan, or 2,500 yuan off Apple's official price, after applying coupons that include government subsidies. Reuters was unable to ascertain if the discounts were being offered by Apple itself or the platforms. Apple has previously cut prices on its latest models to boost sales during the '618' festival, said Will Wong, a senior smartphone analyst at IDC. 'Apple is repeating its sales promotion strategy for the shopping event last year,' Wong added. 'It's cutting prices on iPhone 16 Pro so that it can enjoy China's state subsidies on digital products.' Selective discounting has featured in the company's China pricing strategy, whether through its own promotions or independent cuts by online platforms and authorised resellers. In January, Apple offered rare discounts of up to 500 yuan on its own website and in past years Chinese e-commerce platforms have also rolled out similar deals. Apple, and Alibaba did not immediately respond to a request for comment. The U.S. tech giant's smartphone shipments in China dropped 9% in the first quarter, while domestic competitors Xiaomi and Huawei Technologies posted gains of 40% and 10% respectively, market data from IDC shows. Smartphones are among the key targets of China's broader consumption stimulus plan, with local governments in major cities such as Beijing, the capital, offering subsidies of up to 500 yuan for handsets cheaper than 6,000 yuan.
Phone Arena
14-05-2025
- Business
- Phone Arena
iPhone 16 Pro slashed by $350 in China amid Apple's struggles and Xiaomi's rise
Recently, we told you about how Apple has been struggling in its second-largest and incredibly important market – China. In fact, Q1 of 2025 was Cupertino's seventh consecutive quarter of decline in China (meanwhile, Xiaomi surges by 40%). Now, Chinese online stores and sellers are offering major discounts on the iPhone 16 models – yes, including the iPhone 16 Pro – in an effort to boost sales as Apple continues to have problems. The price cuts come ahead of China's major mid-year shopping event, known as the "618 festival", which takes place on June 18. For example, the popular platform is listing the iPhone 16 Pro (128 GB) at 5,469 yuan (~$759 when directly converted), which is 2,530 yuan less than Apple's official price of 7,999 yuan (~$1,100 when directly converted). Interestingly enough, the standard iPhone 16 (but with 256 GB storage) is also discounted, priced also at 5,469 yuan, down 1,530 yuan from its usual price of 6,999 yuan (~$970 when directly converted). These prices include government-issued digital product subsidies. Alibaba's Tmall is offering similar deals. After applying available coupons and subsidies, the iPhone 16 Pro (128 GB) is being sold for 5,499 yuan, a discount of 2,500 yuan. Image credit – PhoneArena It remains unclear whether Apple is directly involved in these price cuts or whether they are being driven by the platforms themselves. In previous years, Apple has occasionally lowered prices during the "618" festival, either through its own promotions or indirectly via partner platforms and authorized to IDC analyst Will Wong, Apple appears to be repeating its promotional strategy from last year. By discounting certain models like the iPhone 16 Pro , Apple may be aligning its pricing to qualify for local government subsidies designed to support digital in January, Apple launched rare promotions on its official site, offering discounts of up to 500 yuan (~$70 when directly converted). Chinese retailers have also historically offered similar limited-time deals around major sales events. Despite the promotional efforts, Apple's smartphone shipments in China fell by 9% in the first quarter of this year. In contrast, domestic rivals such as Xiaomi and Huawei saw shipment growth of 40% and 10% respectively during the same period, like we reported earlier.
The Star
14-05-2025
- Business
- The Star
Chinese e-commerce sites offer discounts of up to US$351 on Apple's latest iPhones
Chinese e-commerce platforms are offering discounts of up to 2,530 yuan (RM1,512 or US$351) on Apple's latest iPhone 16 models. — AFP BEIJING: Chinese e-commerce platforms are offering discounts of up to 2,530 yuan (RM1,512 or US$351) on Apple's latest iPhone 16 models, an effort to spur sales as first-quarter shipments by the US tech giant fell further in its second-largest market. The step comes as Chinese online retailers increasingly vie for cost-conscious consumers in a slowing economy, with price cuts taking centrestage ahead of the annual "618" shopping festival on June 18, one of the country's largest. is selling the iPhone 16 Pro with storage of 128GB at 5,469 yuan (RM3,269), down 2,530 yuan (RM1,512) from Apple's official price of 7,999 yuan (RM4,782), Reuters checks showed on May 14. The iPhone 16 with 256GB storage is listed at 5,469 yuan (RM3,269), or a drop of 1,530 yuan (RM914) from its official price of 6,999 yuan (RM4,184), including government subsidies. Alibaba's Tmall marketplace is offering comparable discounts, selling the iPhone 16 Pro with 128GB at 5,499 yuan (RM3,287), or 2,500 yuan (RM1,494) off Apple's official price, after applying coupons that include government subsidies. Reuters was unable to ascertain if the discounts were being offered by Apple itself or the platforms. Apple has previously cut prices on its latest models to boost sales during the "618" festival, said Will Wong, a senior smartphone analyst at IDC. "Apple is repeating its sales promotion strategy for the shopping event last year," Wong added. "It's cutting prices on iPhone 16 Pro so that it can enjoy China's state subsidies on digital products." Selective discounting has featured in the company's China pricing strategy, whether through its own promotions or independent cuts by online platforms and authorised resellers. In January, Apple offered rare discounts of up to 500 yuan (RM299) on its own website and in past years Chinese e-commerce platforms have also rolled out similar deals. Apple, and Alibaba did not immediately respond to a request for comment. The US tech giant's smartphone shipments in China dropped 9% in the first quarter, while domestic competitors Xiaomi and Huawei Technologies posted gains of 40% and 10% respectively, market data from IDC shows. Smartphones are among the key targets of China's broader consumption stimulus plan, with local governments in major cities such as Beijing, the capital, offering subsidies of up to 500 yuan (RM299) for handsets cheaper than 6,000 yuan (RM3,587). – Reuters
Time of India
14-05-2025
- Business
- Time of India
Chinese e-commerce sites offer discounts of up to $351 on Apple's latest iPhones
BEIJING: Chinese e-commerce platforms are offering discounts of up to 2,530 yuan ($351) on Apple 's latest iPhone 16 models, an effort to spur sales as first-quarter shipments by the U.S. tech giant fell further in its second-largest market. The step comes as Chinese online retailers increasingly vie for cost-conscious consumers in a slowing economy, with price cuts taking centrestage ahead of the annual "618" shopping festival on June 18, one of the country's largest. is selling the iPhone 16 Pro with storage of 128GB at 5,469 yuan, down 2,530 yuan from Apple's official price of 7,999 yuan, Reuters checks showed on Wednesday. The iPhone 16 with 256GB storage is listed at 5,469 yuan, or a drop of 1,530 yuan from its official price of 6,999 yuan, including government subsidies. Alibaba's Tmall marketplace is offering comparable discounts, selling the iPhone 16 Pro with 128GB at 5,499 yuan, or 2,500 yuan off Apple's official price, after applying coupons that include government subsidies. Reuters was unable to ascertain if the discounts were being offered by Apple itself or the platforms. Apple has previously cut prices on its latest models to boost sales during the "618" festival, said Will Wong, a senior smartphone analyst at IDC. "Apple is repeating its sales promotion strategy for the shopping event last year," Wong added. "It's cutting prices on iPhone 16 Pro so that it can enjoy China 's state subsidies on digital products." Selective discounting has featured in the company's China pricing strategy, whether through its own promotions or independent cuts by online platforms and authorised resellers. In January, Apple offered rare discounts of up to 500 yuan on its own website and in past years Chinese e-commerce platforms have also rolled out similar deals. Apple, and Alibaba did not immediately respond to a request for comment. The U.S. tech giant's smartphone shipments in China dropped 9% in the first quarter, while domestic competitors Xiaomi and Huawei Technologies posted gains of 40% and 10% respectively, market data from IDC shows. Smartphones are among the key targets of China's broader consumption stimulus plan, with local governments in major cities such as Beijing, the capital, offering subsidies of up to 500 yuan for handsets cheaper than 6,000 yuan.
