Apple’s profits in China fell by almost a fifth in its latest financial year, a stark reversal after operating income there more than doubled in 2015, the Financial Times reports. The figures will fuel investor concern that Apple is losing out to local rivals such as Huawei, Vivo and Oppo in what until recently has […]
Category: Tech, Media & Telecom
ZTO Express, the Chinese delivery service that gets about three-quarters of its business from Alibaba, is set for a US IPO that will be this year’s biggest. Bloomberg reports the planned $1.3 billion sale, the most a Chinese company raised in New York since Alibaba raised a record $25 billion in 2014, may mark an […]
Americans underestimate the Chinese tech sector at their own peril, said venture investors Kai-Fu Lee and Jim Breyer at The Wall Street Journal’s global technology conference on Wednesday. “Anyone here who thinks China is a copycat. That’s just wrong,” Lee said, arguing that the US will fall behind China if it takes the country’s technology […]
Didi Chuxing Technology will expand beyond China to take on new global markets, potentially joining with local ride-sharing players, President Jean Liu said. Didi is evaluating new markets to enter and may collaborate with or compete with incumbent ride-sharing companies, The Wall Street Journal reports. If Didi sees a market where the local company isn’t […]
The UK is at risk of losing its reputation as the world’s leading fintech centre as the number of innovative companies in China is rising rapidly, according to a new report by KPMG. The annual study shows that four of the top five global innovators in financial technology now come from China, reflecting the “indisputable” […]