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The contract manufacturer of gadgets, Pegatron, which accounts for about 30% of Apple's orders, expands production outside of China. The company will open offices in Indonesia, Vietnam and India. Pegatron president reports that the pace of production expansion will depend on the outcome of the trade war with the United States. Expansion of the company outside the country may be due to the decision of Apple to open production in India. The Chinese smartphone market has been falling, so companies are paying attention to other markets. Another supplier of gadgets for Apple, Foxconn, has already planned to expand its presence in India. Moving of production to another country will allow companies to reduce their dependence on China and reduce the impact of trade war on business. A contractor, which manufactures phones for Xiaomi, is already working in India. Apple already owns factories in India, where the company used to produce only low-cost iPhone SE and 6S models.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
On Friday, Axios Media Inc. reported a document acquired by tech watchdog group Tech Transparency Project which indicates that multiple U.S. states were investigating Apple (AAPL) due to deceptive trade practices. According to the report, ...
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