“A growing number of Chinese companies are throwing their support behind Huawei Technologies following the recent arrest of its chief financial officer in Canada, taking such steps as offering subsidies for staff who buy the telecom equipment maker’s smartphones,” Shunsuke Tabeta reports for Nikkei Asian Review. “Many Chinese businesses have told employees they will receive subsidies if they buy Huawei smartphones to aid the company. Most are subsidizing 10% to 20% of the purchase price, with some even covering the full amount.”
“Huawei CFO Meng Wanzhou was arrested Dec. 1 in Vancouver by Canadian authorities at the request of the U.S.,” Tabeta reports. “Meng, daughter of Huawei founder Ren Zhengfei, is suspected of misleading financial institutions about transactions in Iran that violate U.S. sanctions. The Chinese Foreign Ministry and Huawei have called the arrest wrongful, and they continue to protest against Washington and Ottawa.”
Tabeta reports, “Other companies are boycotting Apple, which is battling with Huawei for second place among the world’s smartphone producers.”
MacDailyNews Take: Apple is not “battling” Huawei for a place in the unit share race, a race in which Apple does not participate.
Some writers, pundits, and analysts have concocted a “race” based only on units shipped because that’s the only way they can manage to have Apple “lose.” It’s like saying Usain Bolt is a poor runner because he’s never won a 5K. Usain Bolt has never run a mile, much less 3.107 miles. He doesn’t run 5K races.
Apple doesn’t ship junk in order to inflate unit share numbers. Apple last holiday season took 86% of global handset profits. Writers, pundits, and analysts continually ignore this fact, so that they can proclaim some other company the “world’s largest” or “the smartphone leader” when they are nothing of the sort. Apple is the clear leader in smartphones, not only since they invented the smartphone which all others, including Huawei, try and fail copy, but because Apple owns the bulk of the smartphone markets profits and has owned it in dominant fashion for years.
“A machinery maker in Shenzhen, where Huawei is based, threatened to confiscate Apple devices from employees and fire those who did not comply,” Tabeta reports. “Menpad, a Shenzhen-based tech company, said it would punish employees who buy Apple products. Finally, Shenzhen Yidaheng Technology said it would fine staffers who bought iPhones the equivalent amount of their device, while other companies threaten to withhold bonuses.”
Read more in the full article here.
MacDailyNews Take: Chinese companies who boycott Apple are cutting off their collective nose to spite their face.
SEE ALSO:
Apple’s iPhone X made 5 times the profit of 600 Android OEMs combined – April 18, 2018
Apple’s iPhone captured 86% of global handset profits in Q417; iPhone X alone took 35% of global handset profits – April 17, 2018
iPhone X drives smartphone revenue dominance; Apple made more money in Q417 than the rest of the smartphone makers combined – February 16, 2018
Apple iPhone took more than half of worldwide smartphone revenue share in Q417, a new record – February 15, 2018
Strategy Analytics: Apple has shipped 1.2 billion iPhones in the past 10 years; $760 billion in global revenue to date – September 8, 2017
Apple took 83% of smartphone market profits in calendar first quarter – May 16, 2017
Apple pounded again this trading day and this threading week.
Apple is now down 12 of the last 13 weeks.
STILL the bottom has not been found. Next week we’ll see sub $130/share pricing.
If you look a little closer, you’ll see that Microsoft, Amazon, Google and Facebook are all down this week.
Maybe it’s time to blame the Imbecile-in-Chief.
Well, Apple is still getting pounded the worst out of all major tech stocks considering it was already priced like a steel mill going out of business before all this market mayhem started. Apple couldn’t have chosen a worse time to aggravate big investors by removing its unit sales reporting.
I have to admit, I would never have thought a couple of months ago that AAPL stock would be below $150. $200 maybe, but even that seemed unlikely. How can I be so stupid when it comes to understanding the stock market? It just seems as though Apple losing more than a third of its value in a couple of months doesn’t quite add up. I’m just glad I’m getting dividends from all my stocks.
What are people doing with their 401K plans in this crazy market?
That is a false statement..
Apple is doing worse than market over all by about 7%
But there are many many more major stocks doing worse.
Down voting facts .. dont change the facts !
I gave up long ago trying to second guess the markets. A friend used to think I was a contrarian indicator. It’s weird. Apple is making money hand over fist and the stock goes down. Others lose money and the stock goes up. Go figure.
The dividend payment is now about 2%. And it increases every year by about 10%. The current 10 yr Treasury is paying about 2.7%. Amazing.
I lost another $5k with my Apple holdings, bringing the number of years needed for the dividend to recover the losses from the past 7 weeks to 31 years!.
Yay dividends!!!! I’ll be 88 by the time my Apple dividends recover the huge losses from the past few months.
You deserve all your losses, Greenspan, after you betrayed Ayn Rand’s philosophies and stuck your dagger into the heart of America’s economy. Greenspan, you were and remain the worst.
It’s called gambling!
You have the right to gamble, but why the surprise?
He is no longer president. He went back to his home in Kenya.
This Greensapn dude is our old Von ..
He got booted under his old name and he is too stupid to think that we will recognize him..
What do u except from a person who still has his mom feed him milk and cookies.
Ishkadumbass Von Jeeve Stobbspan is a disgusting example of scum sucking stupidity. Eff off Stobbs Von Alan.
As Don already pointed out, the “Imbecile-in-Chief” has been out of office for two years. What President Trump has done with the economy in two years is remarkable and record breaking. We witnessed the first trillion dollar company under his watch…
As Don already pointed out, the “Imbecile-in-Chief” has been out of office for two years. What President Trump’s INFLUENCE has done with the economy in two years is absolutely remarkable and record breaking. We witnessed the first trillion dollar company under his watch…
Tweaker you seem to be.
when DJIA closes and holds below 20,000, back up the AAPL cart
As an Apple shareholder, I recommend boycotting Chinese owned companies. Volvo is a big one. They make excellent vehicles, with R&D financed by the Chinese owners. That is to say, they have Chicom backing and operate uwitha western brand name.
Yup , what goes around must come around..
I definitely am on board with your suggestion.
Chinese seem to think anarchy is their right and the world should live on an unbalanced level favoring them.
They are unethical in their trade and buisness conducts and are thieves.
Says the #1 fruit cheerleader, ignoring that his favorite company outsourced 99% of its mfg to China
1-# 1 fruit cheer leader.. lol.. thanks for the laugh as Clueless a comment about me as that can be from a clueless uniformed mind.
Wise guy- I say it as i see it..the good and the bad… …
unlike lemmings like u !
2- u got something to say make it relevant ! .. dont argue against yourself . Makes u look like a fool !..
Unfortunately, McGrath is spot on and you are indeed the number one Apple Cheerleader and Apologist for several months now. I did not think it was possible to take the title from KingMel, but you succeeded.
As to your off topic response to McGrath, not interested in defensive moves and insults that you also toss out at others. Yes, what goes around comes around.
The KEY is totally missing the CRITICAL POINT: “ignoring that his favorite company outsourced 99% of its mfg to China”
Can you say, blind hypocrite?…
So the resident numbskull ends the year as it started, by exhibiting his trademark denial. I mean how can Slavish Sycophant Trump Lapdog GoeB call out anyone’s ‘fan’ status and not choke on the inedible truth, that everything exiting your mouth is a perversion of reality, much like the blob in the WH.
Move along sycophant Democrat and Apple fanboy Gotcha. Nothing but childish insults you are out of your league, as usual…
It is not the young chinese boycotting, it is the old communists farts repressing the youth
“A growing number of Chinese companies” makes it sound like a spontaneous movement. Baloney. It would be more accurate to say that China is boycotting. As a relatively communist nation, all Chinese entities are wholly-owned subsidiaries of the government and are expected to behave as such. As an example, The New York Post quotes Chinese law as saying “All organizations and citizens must support, assist with, and collaborate in national intelligence work.”
So does Huawei spy? Of course! They are required, by law, to do so. Are Chinese companies acting independently in boycotting Apple? Doubtful. It’s more likely that they are simply following suggestions from on high.
Haven’t they been doing that unofficially anyway? This isn’t new or surprising to me.
China: “First you want us to stop placing spies in your corporations and stealing your intellectual property. Then you’re worried we’ll bug the electronics we sell you. Next you want us to stop hacking the shit out of your networks and stealing your intellectual property. Then you demand that we help you prosecute people who shamelessly copy your intellectual property and market it under different names. Then you want fair trade practices. And now, holy cow! You expect that the people who copy your intellectual property, rip you off shamelessly, shouldn’t do business with your enemies who are terror sponsoring nation states like Iran?. What happened America? You used to be so easy going. We’d screw you, you’d send billions more in business. We’d screw you worse, you’d invest another billion in our fledgling Uber Copy business. We’d screw you harder bare back and you’d invest in building clean energy facilities in our cities. You used to be such good business people. Maybe we should screw you harder. “
America: MAGA, bitch.
Yup. Initially, the lopsided trade was essentially a hand-out to help China grow a modern economy. It was also hoped that it would ease its despotism.
The problem with handouts is that if you give someone a handout once, you’re a saint. Give them a handout twenty times and if you miss the twenty-first, you’re a villain.
WEll, you guys are some kind of nut heads, if you have not known for over 10yrs that our own people have sold, metal, and built factories in China and now, that they got most of the gold in world, and gotten or stolen our Tech. system then, you must have been out on Golf course or in some beach resort screwing and cheating on wife,
So, now if yo do not like China, turning like a bad country, then, stop buying shit in store, and let Wall market go shit and, China go a lot with them, stop letting people into this country, WHY, look at the country they came form,, people are like monkey they can’t live long on their own cause they have let people from other nations take your job cause you would not work, and save , all want is to spend every weekend what you make week before
I’ll let you in on fact, you rich guys throw your , shame on China leaders, well, they been working at it for 20yrs, I know of and every time I would mention it, well, I get more from China, for my studfff then, here in usa, YOU GOT FET WHAT THIGNS MADE OUT OFF, NUMMIES, I PREACHED IUNTIL I BLUE IN FACE, NOW TAKE THE LONG RANGE SHIT THAT COMING YOUR WAY,, STICK HEAD IN HOLE AT GOLF cLUB SEE IF YOU SEE YOUR ASS HOLE, NOW. if YOU DON’T STOP LETTING FOLKS IN TO THIS COUNTRY WE WANT HAVE THE FORM LAND TO FEED,, OUR OWN ESPECAILLY SINCE, cHINA AND Russia AND usa are at war, in space, that what is causing all these weather pattern. Some say , it’s god showing he’s mad at his people folks, like said your head up your butt endm read his work in old King james not the new one ,,that been sold to you dummie, his word never changes, it humans that are causing the destructions. Remember he said to stop a snake you got cut head off, Reckon good Christian of American has for gotten that , book in bible,