Apple is reportedly planning to switch assembly of all iPhones for the US market to India as the company seeks to reduce its reliance on a Chinese manufacturing base amid Donald Trump’s trade war. The $3tn (£2.3tn) technology company aims to make the shift as soon as next year, the Financial Times reported. Apple has been swept up in Trump’s aggressive tariff policies, with the iPhone maker at one point among the biggest stock market casualties because of the prospect of its Chinese-made products being hit with a hefty import…
Tag: Technology sector
Nvidia’s CEO makes surprise visit to Beijing after US restricts chip sales to China
The chief executive of the American chip maker Nvidia visited Beijing on Thursday, days after the US issued fresh restrictions on sales of the only AI chip it was still allowed to sell to China. Jensen Huang’s surprise visit was on the invitation of a trade organisation, according to a social media account affiliated with state media. The official broadcaster China Central Television said Huang met Ren Hongbin, the head of the China Council for the Promotion of International Trade, where he said he hopes “to continue to cooperate with…
Why is US threatening to ban TikTok and will other countries follow suit?
Joe Biden has signed into law a bill that requires TikTok’s Chinese owner to sell the social media app’s US operations or face a ban, after the Senate passed the legislation. The law, part of a foreign aid package for Ukraine, Israel and Taiwan, sets the clock ticking on a potential ban for a platform that is hugely popular in the US. Here is a guide to the TikTok legislation and what may happen next. How does the legislation pave the way for a sale or ban? The bill gives…
Huawei shrugs off US sanctions with fastest growth in four years
Chinese telecoms firm Huawei grew faster in 2023 than it has for four years, as it shrugged off the impact of US sanctions. Revenues rose by nearly 10% to 704.2bn yuan (£77bn) as the Shenzhen-based company enjoyed a rebound within its consumer segment, which includes smartphone handsets. The performance meant Huawei defied the effect of sanctions imposed by the US in 2019, when Donald Trump’s White House accused the firm of being a security risk, something Huawei denies. The UK also vowed in 2020 to remove Huawei from 5G infrastructure…
US orders immediate stop to some AI chip exports to China; Lloyds profits up but lending margins fall – business live
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US orders immediate halt to some AI chip exports to China, says Nvidia
The chip designer Nvidia has said the US has told it to bring in new curbs on the export of some of its high-end artificial intelligence chips to China immediately as regulators advanced the deadline. The restrictions were supposed to come into play 30 days after 17 October, when the Joe Biden administration announced measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others. Nvidia did not say why the US government had accelerated the timing but does not expect a…
China launches tax investigations into Apple iPhone maker Foxconn
China’s tax authorities have launched multiple investigations into the company that makes the iPhone, months after its billionaire founder announced he would run in Taiwan’s presidential elections. Foxconn faces tax audits of its operations in China, as well as investigations into land use in two Chinese provinces, according to reports by local media. The investigations, which were confirmed by the Taiwan-based manufacturer but have not been officially announced by any of China’s government departments, are thought to be politically motivated. Foxconn’s founder, Terry Gou, announced in August he would run…
Huawei accused of building secret microchip factories to beat US sanctions
Huawei has been accused by a leading association of semiconductor manufacturers of building a collection of secret chip-making facilities across China to help the technology company bypass US sanctions, according to a report. The Chinese tech firm moved into chip production last year and was receiving an estimated $30bn (£23.7bn) in state funding from the government, the Washington-based Semiconductor Industry Association was quoted as saying in a Bloomberg news story, adding that Huawei had acquired at least two existing plants and was building three others. The US commerce department had…
UK considers tighter rules on investment in China after US clampdown
The British government is considering tightening rules on investment in China after the US president announced new measures aimed at limiting the dollars and expertise flowing into sensitive technologies in the country. Joe Biden signed an executive order on Wednesday that authorises the US treasury secretary to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics; quantum information technologies; and certain artificial intelligence systems. The US government has said the measures are designed to address national security risks. China said on Thursday it was gravely…
Chinese plans to limit smartphone use for children hit tech shares
Shares in Chinese technology firms have fallen after the country’s online regulator announced plans recommending smartphone use for children be limited to a maximum of two hours a day. The rules proposed by the Cyberspace Administration of China (CAC) will require device makers, operating systems, apps and app stores to introduce a so-called “minor-mode” capping time spent on screens, increasing the pressure on local tech companies already grappling with tight government controls. The proposals, which are still subject to public feedback, would limit users aged 16-18 to two hours usage…