Wednesday Tech Briefing: Huawei, Apple, Weibo
The Australian government’s decision to ban Chinese telecom giant Huawei Technologies Co. Ltd. from providing 5G technology Down Under was made after “extensive review of the national security risks” and not “regarding any particular country,” Australian Prime Minister Scott Morrison said.
“Australia will always act on its responsibilities to safeguard what we believe are critical national assets in the same way that China or that any other country in the region would,” he added.
The ban, which also affects ZTE Corp., was revealed by Huawei in August. (Caixin)
Apple CEO Tim Cook visited Shanghai’s Municipal Government Tuesday to meet its party chief Li Qiang.
Shanghai is exploring emerging industries in an effort to remain an innovation hub. According to Li, the city plans to strengthen partnerships with multinational tech companies like Apple. In a statement, Cook promised further investments and contributions to the city. (Official statement, link in Chinese)
Apple is seeing returns decline, however, with phone sellers in China reporting record low sales of iPhone XS and XS Max devices, citing high prices. Some said they have to offer discounts to lure buyers.
Apple launched the latest XS series Sept. 12 in the United States with prices ranging between $999 and $1,449 depending on size and storage capacity. With a price starting at $1,099, the larger iPhone XS Max is the most expensive model ever sold by Apple. (Caixin)
Social media platform Weibo said Tuesday it will stop registering users younger than 14 years old starting Nov. 1, when its app is scheduled for an update.
Meanwhile, the company is working on a separate version with “content and activities suitable for minors.”
Since 2017, Weibo has required all users to register using their true identities, including names and birthdates, before they can make comments or posts. (Company announcement, link in Chinese)
Bike-sharing platform Mobike sued ride-hailing giant Didi Chuxing's bike-sharing spinoff for patent infringement Tuesday, demanding 8 million yuan ($1.16 million) in compensation.
Mobike accused Didi Bike of manufacturing and selling products similar to Mobike’s vehicles without permission.
Didi Bike responded that the company fully respects intellectual property rights and that it will look to the court to rule on the matter. (Tencent News, link in Chinese)
Home-appliance maker Qingdao Haier Co. Ltd. has applied to become the first Chinese firm to issue shares for trading in Germany next week, under a new program aimed at boosting global investors’ access to China-listed companies.
Haier will issue 400 million D-shares starting around Oct. 15, pending regulatory approval, the company said in a statement to China Europe International Exchange AG, which is sponsoring the program.
It did not give a size of the funds it hoped to raise. (Caixin)
Compiled by Ye Zhanqi
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- 2Update: China’s Economic Growth Hasn’t Been This Slow Since Financial Crisis
- 3Update: Stocks Surge After Xi’s Top Economic Adviser Calms Investors
- 4In Depth: China’s New Household-Debt Fears
- 5Real Estate Market Braces for Winter
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas