In an attempt to re-enter a market where Facebook and Instagram are still forbidden, Meta Platforms has partnered with Tencent Holdings to sell a new, affordable virtual reality (VR) gear in China, according to a Wall Street Journal report. Tencent will become the only supplier of Meta’s headsets in China as a result of the…
The giant American chip manufacturer Nvidia is said to have discovered a means to supply Chinese businesses with high-end chips while yet adhering to American regulations intended to limit China’s access to technology. China makes up 20% to 25% of Nvidia’s income from its largest business, the data centre division. According to Chinese financial media…
Intel has postponed a planned investment in Vietnam that could have roughly doubled the U.S. chipmaker’s facility there, dealing a blow to the nation’s expanding aspirations in the semiconductors industry, according to reports based on information from sources briefed on the plans. The centre of Southeast Asian electronics manufacturing, which houses Intel’s largest chip assembly, packaging,…
Beijing will welcome the American semiconductor company expanding its market share in China, the Chinese minister of commerce informed the president of Micron Technology Inc., signalling a further warming of ties between the two largest economies in the world. According to a brief statement posted on the commerce ministry’s website on Friday, Commerce Minister Wang…
This week, BMW executives predicted solid sales for the fourth quarter and stated that their order book was full through the first few months of the following year. They added that they did not see the need to lower pricing, unlike some of its competitors. As supply chain bottlenecks lessened, vehicle availability improved, but higher…
Except for their availability which could prevent Novo Nordisk and Eli Lilly’s explosive sales of their diabetes and weight-loss medications from continuing into the upcoming years. The worldwide obesity medicine boom has mostly benefited these two corporations, driving up their market values and changing expectations for packaged foods, sugary snacks, and nutritional supplements in addition to the…
Apple’s shares fell almost 3% in after-hours trading after the company released a Christmas quarter sales estimate that fell short of Wall Street’s projections due to the lacklustre demand for iPads and wearables. Tim Cook, the company’s CEO, emphasised that the new iPhone 15 models were performing well in China in an effort to allay…
In the first three quarters of 2023, revenue at China’s Huawei Technologies increased somewhat. The firm attributed this increase to development in its cloud and digital power businesses as well as the increasing competitiveness of its vehicle components division. For the first three quarters of the year, Huawei reported revenues of 456.6 billion yuan ($62.4…
Ahead of government price talks for its best-selling cancer treatment Imbruvica, AbbVie announced on Friday a $2.1 billion charge associated with anticipated revenue declines following the implementation of the new price for Medicare patients in the United States. With a declared government objective of saving $25 billion annually on drug costs by 2031, the Illinois-based…
Boeing’s defence division is more difficult to turn around than management had thought. This year, the company lost $1.7 billion on projects including NASA’s Starliner capsule and the future Air Force One, mostly due to supplier failures and excessive manufacturing costs. Executives said that by taking on $4.4 billion in losses in 2022, the company…
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