China's widening iPhone curbs roil US technology sector - Reuters
(www.reuters.com)
from ijeff@lemdro.id to technology@lemmy.ml on 08 Sep 2023 02:36
https://lemdro.id/post/1223504
from ijeff@lemdro.id to technology@lemmy.ml on 08 Sep 2023 02:36
https://lemdro.id/post/1223504
cross-posted from !apple@lemdro.id
- Beijing has imposed restrictions on iPhone use among its government staff, causing Apple’s stock to drop by more than 3%.
- The move exacerbates already high tensions between the U.S. and China, affecting U.S. tech companies with significant exposure to the Chinese market.
- U.S. lawmakers from both major parties express national security concerns and urge a tougher stance against Beijing.
- Apple suppliers like Qualcomm and Broadcom also experience stock declines, leading losses among major tech firms.
- The restrictions indicate that even companies with good relations with China are not immune to geopolitical tensions.
- Despite U.S. sanctions on Huawei, Apple faces competitive pressure in China, where it earns nearly a fifth of its revenue.
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This is the best summary I could come up with:
Sept 7 (Reuters) - Beijing’s widening curbs on iPhone use by government staff raised concerns among U.S. lawmakers on Thursday and fanned fears that American tech companies heavily exposed to China could take a hit from rising tensions between the countries.
Several Wall Street analysts said the curbs show that even a company with a good relationship with the Chinese government and a large presence in the world’s second-largest economy was not immune to rising tensions between the two nations.
Lawmakers of both major U.S. parties have been vocal in their concerns about national security risks allegedly created by China’s products, pressuring the Biden administration to get even more aggressive with Beijing.
“This is textbook Chinese Communist Party behavior - promote PRC (People’s Republic of China) national champions in telecommunications, and slowly squeeze Western companies’ market access,” Gallagher, a Republican, told Reuters.
China’s Huawei last week launched its new Mate 60 Pro smartphone, which is powered by an advanced chip made by Chinese contract chipmaker SMIC (0981.HK) and marks a breakthrough for the duo hit by U.S. sanctions.
Those sanctions cut Huawei’s access to chipmaking tools essential for producing the most advanced handset models, hammering the company’s business and allowing Apple to take some market share from the national favorite in China.
The original article contains 642 words, the summary contains 212 words. Saved 67%. I’m a bot and I’m open source!
So US banned Huawei first. Is US communist now?
I mean, after everything that's happened since Trump if you didn't see this coming you just haven't been paying attention, no one has to use American tech, they choose to, given enough motivation they'll choose to use something else. I mean I could care less about Apple, fucking evil empire, yet, not nearly as evil as the fucking CCP. I don't care that China is going to boycott US tech, I'd rather they fuck off ans stay in China, try to repair their failing economy by themselves, lol
I am surprised they weren’t already banned for government staff, as Huawei is in the US.
Probably because Apple worked together with the Chinese government? Where do you think Taiwan is shown on an Chinese iPhone or where it gets its censor list?
Apple is after money, everything else is secondary. So why would they ban their lapdog? They’re doing so now, probably to replace it with a homegrown manufacturer.