Plunge

Apple's iPhone sales in China fell 24 percent year-on-year in the first six weeks of 2024, according to research firm Counterpoint, as the US company faced increased competition from domestic rivals such as Huawei.The US tech giant's chief competitor in China in premium smartphones, Huawei, saw unit sales rise by 64 percent in the period, according to the report.This could fan fears of a slowdown in demand for the US company, whose revenue forecast for the current quarter was $6 billion (roughly Rs. 49,740 crore) below…

Apple’s iPhone sales in China aren’t looking too cheery for the first six weeks of 2024, with an estimated 24% drop year-over-year.This report comes from research firm Counterpoint, whose findings show Apple faces tighter competition from Chinese brands such as Huawei in the country. For comparison, Huawei’s sales growth for the same period compared to 2023 is up 64% thanks to the new Huawei Mate 60 series of smartphones. The sales decline has affected the overall smartphone market in China, with a 7% total decline…

A Rivian electric truck sits parked in front of a Rivian service center on August 08, 2023 in South San Francisco, California.Justin Sullivan | Getty ImagesShares of electric vehicle makers Rivian and Lucid plummeted Thursday after the companies reported disappointing results and stagnant production in their fourth quarter earnings after the bell Wednesday.Rivian shares plunged about 25% and Lucid's stock sank more than 15% as of Thursday afternoon.Rivian forecast it will make 57,000 vehicles in 2024, slightly below the…

Snap missed Wall Street estimates for quarterly revenue on Tuesday, as the Snapchat owner continued to struggle to compete against larger rivals for digital advertising revenue, sending its shares down 30%. Though its features are often copied by competitors, investors have long questioned Snap's ability to hold its own against tech giants like Facebook owner Meta Platforms and Alphabet, which have more data to target ads.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of…

Shares of Zomato plunged over 4% to the day's low of Rs 133.35 on the NSE on Monday following a block deal which saw equity worth Rs 621.68 crore changing hands at Rs 138.15 per share.While the details of the buyers and sellers were not known at the time of filing the story, data on NSE showed the deal getting executed ahead of the market opening time. The transaction involved 4.50 crore shares changing hands.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteNorthwestern UniversityKellogg…

Nikos Pekiaridis | Lightrocket | Getty ImagesModerna on Monday said its Covid vaccine sales plunged by about two-thirds in 2023 to $6.7 billion, as fewer people rolled up their sleeves for an updated version of the jab.The revenue from the shots met Moderna's forecast for the year, even as sales plummeted from the more than $18 billion the company booked in 2022. Moderna's announcement, which came ahead of its presentation at the annual JPMorgan Healthcare Conference, shows the steep drop in demand for Covid products last…

A sign on the exterior of the China Evergrande New Energy Vehicle Group Ltd. research headquarters in Shanghai, China, on Friday, Sept. 24, 2021.Bloomberg | Bloomberg | Getty ImagesShares of the electric vehicle manufacturing arm of property developer China Evergrande plunged 23% on Monday after the unit revealed its vice chairman had been detained.In a filing to the Hong Kong exchange, Evergrande NEV announced that "the company has learned that its executive director Mr. Liu Yongzhuo has been detained in accordance with…

Mobileye signage is displayed during the company's initial public offering at the Nasdaq MarketSite in New York on Oct. 26, 2022.Michael Nagle | Bloomberg | Getty ImagesMobileye, the self-driving technology company majority owned by Intel, warned on Thursday that it expected that customer orders would drop off dramatically for the first quarter of 2024.Shares plunged as much as 25% on the news during Thursday morning trading."We have become aware of excess inventory at our customers," Mobileye said in a preliminary…

Breadcrumb Trail LinksBooksHow the ritual became a a freezing fixture of New Year’s DayPublished Dec 26, 2023  •  5 minute read Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.Article contentWhether it’s a longing for new beginnings or a burning desire to drown a hangover, from Finland to Panama, from dropping balls to smashing pomegranates, much of the world loves nothing more than a…

Chinese regulators announced on Friday a wide range of rules aimed at curbing spending and rewards that encourage video games, dealing a blow to the world's biggest games market, which returned to growth this year.The new rules, which will effectively set spending limits for online games, sparked panic among investors, wiping off nearly $80 billion in market value from China's two biggest gaming companies, as investors sought to gauge the potential impact on earnings and more restrictions in the offing.Elevate Your Tech…