Month: April 2024

Apple’s iPhone sales in China plunge 19%, as Huawei grows smartphone sales by nearly 70%

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Apple lost its throne as China’s bestselling smartphone brand, after sales declined 19.1 per cent in the first quarter amid rising competition from Huawei Technologies and other local rivals, according to market research firm Counterpoint. The US tech giant, which topped smartphone sales in China in the fourth quarter last year, saw its market share in the past quarter shrink to 15.7 per cent from 20.2 per cent previously. It ranked third, overtaken by Chinese manufacturers Vivo and Huawei spin-off Honor, which secured shares of 17.4 per cent and 16.1…

Antony Blinken heads to China with warning for Beijing over support of Russia

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Antony Blinken was due to land in China on Wednesday, amid a worsening rift between the world’s two most powerful countries that threatens to overshadow otherwise improving relations. The US secretary of state is coming with a warning that the US and its European allies are no longer prepared to tolerate China’s sale of weapon components and dual-use products to Russia, which are helping Vladimir Putin rebuild and modernise his arms factories, enabling him to intensify his onslaught on Ukraine. Relations between China and the US had been warmer recently,…

China’s little-known H-20 stealth bomber not a concern for US: Pentagon official

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China’s latest stealth bomber is “nowhere near” compatible with US platforms and is “not really” a concern for Washington, according to a Pentagon intelligence official, who cited engineering design challenges in the Chinese programme. The official, who spoke to the online Breaking Defence news portal on condition of anonymity, said the Xian H-20’s capabilities would not be able to keep up with its US counterparts. “The thing with the H-20 is when you actually look at the system design, it’s probably nowhere near as good as US LO [low observable]…

Meaty economic indicator? China’s distressed pig farmers eye turnaround

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Chinese farmers are keeping the fewest pigs for breeding since 2020, offering hopes that the industry is on the cusp of sustained profitability after years of losses. Key indicators point to the market having bottomed. Foremost was the drop in the sow herd to below 40 million head, a four-year low, reported by the government last week. The number of sows determines the number of piglets and ultimately the amount of meat on the shelves. As a consequence, pig prices have jumped more than 10 per cent in the last…

German spycatchers raise game against China and Russia

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With a spate of high-profile arrests of suspected Chinese and Russian spies in recent days, Germany’s counter-intelligence agents, once criticised for their lack of mettle, may have come in from the cold.  On Tuesday morning, German police swooped on Jian Guo, a staffer working in the European parliament, accused by prosecutors of spying for China. One Must-Read This article was featured in the One Must-Read newsletter, where we recommend one remarkable story each weekday. Sign up for the newsletter here On Monday, three German citizens, including a husband and wife,…

Why Nissan needs more than a gamble on solid-state batteries

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Last week, in the shell of a factory that Nissan insists will be churning out solid-state batteries by 2028, an executive of the Japanese carmaker fired back at scepticism about the nascent technology from companies he says are clinging to the past. “All the battery suppliers want to keep enjoying the liquid-type batteries, which they have now. They’ve already made a big investment so not only CATL, but all the…

Why China’s market slump is far from a crisis

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is head of global index portfolio management at Franklin Templeton China’s stock market has certainly been battered recently, rattling both consumer and investor confidence. But we shouldn’t be too quick to categorise this disappointing phase as a crisis.  Investors should tread cautiously, of course, given that Chinese consumers remain nervous about a still-shaky property market and high youth unemployment. But rather than completely writing off the growth potential…

Tokyo’s top female sushi chefs

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This article is part of FT Globetrotter’s guide to Tokyo At the start of the year, Sushi Meino, a six-seat sushi restaurant in Tokyo’s upscale Azabu-Juban neighbourhood, was featured in a popular Japanese documentary TV series. The star of the show was Mei Kougo, a 34-year-old sushi chef and sommelier who had just opened her own restaurant after a decade of training. “It felt like the best time for me to set out on my own,” Kougo said in the programme as she explained her decision to open shop where…

North Korea sends officials to Iran amid suspected military cooperation

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A North Korean delegation led by the cabinet minister for international trade is visiting Iran, the North’s state-run media reported on Wednesday, amid suspicion Tehran used North Korean weapons technology for its attack on Israel. The minister for external economic relations, Yun Jong Ho, left Pyongyang on Tuesday by air leading a ministry delegation to Iran, the Korean Central News Agency said, without providing further details.  Yun, who previously worked on ties with Syria, has been active in North Korea’s increasing exchanges with Russia, this month leading a delegation on…

US Congress approves bill banning TikTok unless Chinese owner sells platform

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US app stores will be banned from carrying TikTok in 270 days unless its Chinese owner sells the video-sharing platform after Congress passed a security package that includes measures to counter threats from China. The Senate on Tuesday voted 79-18 to approve the legislation, firing the starting gun for ByteDance to divest TikTok to avoid the ban. TikTok is expected to bring legal action to block the legislation after a…