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The ongoing chip shortage, US national security concerns, and domestic regulatory pressure all do this. Annus horribilis For high-tech companies in China.
Huawei The biggest decline in history Earnings increased earlier this year as a result of semi-squeeze and US sanctions, which are losing competitiveness in the Android smartphone market.
Chair Eric Xu said that surviving despite US pressure is Huawei’s top priority. China’s tech champions generated RMB 320.4 billion ($ 49.5 billion) in revenue in the first half of the year, down 29.4% from the same period last year. Revenues in the consumer electronics sector fell by nearly 47% to over RMB 120 billion.
Meanwhile, TikTok’s rival Kuaishou lost billions of dollars in market value after the Chinese mass media sought further regulation in the sector. A commentary on Friday’s Chinese Communist Party mouthpiece People’s Daily accused the online video platform of having a negative impact on the country’s youth. Kuaishou shares fell 11.8% in the morning trading in Hong Kong, but losses fell 4.7% due to market closures. It came on Thursday’s record drop of 15.3 percent.
The tutoring industry’s stock price has plummeted as Beijing limits most of its market to non-profit bases, with annual revenues projected to fall from $ 100 billion to less than $ 25 billion.we Profile of Toshihiro Yu, The founder of New Oriental Education, which was hit hard by this move.
Such troubles attracted bargain hunters. Reported by Mike Mackenzie of New York Private investors are scooping up funds to track Chinese stocks after a sharp fall in the last few weeks. The US-listed KraneShares CSI China Internet Exchange Traded Fund, which owns well-known companies such as Alibaba, Tencent, JD.com and Maytuan, has raised more than $ 2 billion in new funding since early July. “Investors tend to expect higher risks associated with emerging markets, and Chinese equities have been hit hard, but this is a buying opportunity for some funds trading at low valuations. Said Todd Rosenbluth, Head of Mutual Funds and ETF Strategies at CFRA.
Internet of Things (5)
1. Facebook accused by FTC
Federal Trade Commission Public blame Facebook has made a “misleading allegation” that it has disabled researchers’ access to social media platforms and is doing so in order to comply with privacy agreements with US institutions. Facebook has suspended accounts and pages this week belonging to a group of researchers at New York University who were studying its political advertising targeting practices.
2. Despite gathering crackdowns, Cryptographic Brothers remains loyal
Why are crypto prices stable in the face of SEC chief Gary Gensler’s “Wild West” statement? For supporters, the previous stance of “regulating and not eradicating” from US authorities is a verification, Written by Katie Martin of Markets Editor..Gillian Tett sees how fast and effective the Federal Reserve can produce Central Bank Digital Currency.. The Fed’s involvement in cryptography represents a symbolic change that can threaten the pioneer benefits that tokens like Bitcoin have enjoyed.
#techFT provides news, comments, and analysis on the big companies, technologies, and issues that shape this fastest sector move from specialists based around the world. click here Get #techFT in your inbox.
3. Vodafone near the collapse of India
Vodafone Idea shares plunged this week after admitting that the British telecommunications group’s Indian joint venture was heading for it. “Irreparable collapse point” And the chair resigned. After fierce price competition, it has lost market share to rivals such as Mukesh Ambani’s Reliance Jio.
4. Why do some inventions arrive late?
..We often overestimate the inventor’s graffiti Eureka moments and overlook the importance of precursors that enable and inspire ideas. Perhaps that’s because innovation doesn’t come naturally. Most of us do what we see others doing. Tim Harford writes..
5. Podium finish with Sony Canon and Nikon
Mirrorless cameras broke the dominance of Canon and Nikon in the professional sports photography market as Sony’s Alpha devices became prominent at the Tokyo Olympics. Last year, worldwide shipments of mirrorless cameras exceeded shipments of digital SLR cameras for the first time. FT Team Tokyo Report..
Technical Tools — Dell Digital High End Series 4K Webcam
Dell Digital High End Series Webcam Is well-named and provides pin-sharp photos with a 4K HDR Sony sensor. It feels like a premium product with its heavy solid metal barrel and magnetized lens cap. I also like software controls. This allows you to easily switch from a 90 degree wide-angle view to 78 or 65 degrees. There is also a zoom slider and a selection of filter presets such as AI Auto Framing for centering, Warm, Vibrant and Smooth. It may be better to design the stand to rest firmly on the monitor, but one obvious omission is the built-in mic, when you have to set up a video call or find a mic option elsewhere. I felt unnecessary inconvenience. Perhaps the headset Dell inferred is common enough, or will anyone who pays more than £ 250 for it also pay for a more professional stand-alone microphone? However, this image is error-free and will definitely improve if you want to make an impression on your video call.
China tech sinks to bargain basement Source link China tech sinks to bargain basement