Apple Stock News: Shipments in China
Apple Stock News: In February, Apple’s iPhone shipments in China plunged by 33% compared to the previous year, as reported by government data via Bloomberg. This marks the third consecutive month of decline for Apple, with the company shipping around 5.5 million units in January, a decrease of 39% year-on-year, and experiencing a 30% decline in December. Apple’s struggle in the Chinese market is expected to continue, with a projected 24% year-on-year decline in 2023 worsening through 2024. The company’s attempts to boost sales are hindered by discounts from resellers and the ban on iPhones in various government offices and state companies. Additionally, competition from Huawei’s Mate 60 lineup, boasting advanced semiconductor technology, poses further challenges. Despite an overall contraction in the Chinese smartphone market, analysts anticipate continued decline in iPhone 15 sales while local competitors emphasize AI features in marketing strategies. Apple’s CEO Tim Cook recently emphasized the importance of China during his visit to the country, highlighting its critical role for the company.
Chinese Apps Coming to Apple Vision Pro
Tencent, a major Chinese tech company, has agreed to offer key apps for Apple’s Vision Pro headset, set to launch in China later this year, as per The Information. Tencent, known for its widespread apps and services like WeChat and games such as Honor of Kings, holds significant influence in China’s multimedia landscape. With Apple TV+ and other entertainment platforms absent in China, Tencent’s collaboration is deemed crucial for the Vision Pro’s success in the country. Apple CEO Tim Cook recently confirmed the upcoming launch of Vision Pro in China, expected to face higher prices due to import taxes and potential trademark issues with Huawei. Additionally, Apple aims to introduce services like Apple TV+, Apple Arcade, and Apple Fitness+ in China, seeking local partnerships amidst government restrictions since the 2017 launch of iCloud.
Apple Pay Express Mode
Express Mode for Apple Pay has been launched across all TTC subway stations in Toronto, allowing commuters to easily tap their iPhone or Apple Watch to pay for fares at turnstiles without unlocking their device or using Face ID, Touch ID, or a passcode. This feature continues to function for up to five hours after an iPhone’s battery dies. However, currently, only credit and debit cards stored in the Wallet app can be used with Express Mode, as adding PRESTO cards is not yet supported. According to recent TTC meeting documents, PRESTO card support is expected to be added to Apple Wallet later this year. To set up a payment card for Apple Pay, users can follow the instructions in the Wallet app, while setting a default card for Express Mode can be done through the Settings app. Apple maintains an updated list of transit locations supporting Express Mode on its iOS feature availability page.
