Apple Signed $275 bln Deal with China
Apple Stock News: According to Reuters, China, one of the largest markets with 83% annual sales growth in its fiscal fourth quarter. Tim Cook Chief Executive of Apple signed a concessive agreement of $275 bln to win key legal exemptions from China officials. The agreement includes some of Apple’s investments in China that would go toward building new retail stores, research, and development centers, and renewable energy projects. Apple also promised to use more components from Chinese suppliers in its devices, sign deals with Chinese software firms, collaborate on technology with Chinese universities, and directly invest in Chinese tech companies.
Second-Generation Apple AR Headset to Launch in 2024
In 2022, the First AR headset is expected to launch to the market. However, the development of the second-generation AR headset is already underway and destined for launch in 2024, which features lighter weight, form factor design, a new battery system, and a faster processor. The shipment schedule will likely be in 2024 and will go to mass production in late 4Q22.
According to Apple analyst Kuo, the first-generation AR headset features a processor with Mac-level computing power and will be usable independent from an iPhone, in 10 years Apple’s AR headset product line could ultimately replace the iPhone.
Some Hyatt Locations Can Use Apple Wallet As Hotel Key
According to MacRumors, customers of the Hyatt hotel chain will be able to add a room key to the Wallet app and then tap their iPhone or Apple Watch to unlock their rooms or common areas like gyms, pools, and elevators. Guests can hold their device near the door’s NFC-enabled lock to access key card-protected areas, and with the Express Mode, an iPhone does not need to be unlocked to use the room key.
Members can add their room key to Apple Wallet after placing a reservation, and the wallet entry will let them know when check-in time arrives. The Apple Wallet key will activate when the guest is at the hotel and the room is ready. The hotel can remotely update the guest’s room key in Apple Wallet, and when checking out, customers can do so through the Hyatt app.
Apple Stock News: Apple’s iPhone 13 production fell 20% in Sept-Oct
Due to the global chip shortage and supply chain disruptions, Apple’s iPhone 13 fell 20% in production than its anticipation in September and October, which lead to the impairment of their benefit during the high season for Christmas selling.
According to Chief Executive Tim Cook, in October the impact of the supply chain would be worst during the holiday sales than the previous quarter. The Assembly was halted due to China’s constraints and restrictions on power usage. The iPad production was even worse than its shortage prediction, which ended up with about 50% less production volume.