Technology

34977 readers

243 users here now

This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.

Ask in DM before posting product reviews or ads. All such posts otherwise are subject to removal.

Rules:

1: All Lemmy rules apply

2: Do not post low effort posts

3: NEVER post naziped*gore stuff

4: Always post article URLs or their archived version URLs as sources, NOT screenshots. Help the blind users.

5: personal rants of Big Tech CEOs like Elon Musk are unwelcome (does not include posts about their companies affecting wide range of people)

6: no advertisement posts unless verified as legitimate and non-exploitative/non-consumerist

7: crypto related posts, unless essential, are disallowed

founded 5 years ago

MODERATORS

[email protected]

China's widening iPhone curbs roil US technology sector - Reuters (www.reuters.com)

submitted 1 year ago by [email protected] to c/[email protected]

5 comments fedilink hide all child comments

cross-posted from [email protected]

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 3 points 1 year ago (1 children)

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!

[–] ink 4 points 1 year ago

“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

So US banned Huawei first. Is US communist now?