PDD Holdings shares plunged by more than 10 per cent in pre-market trading, despite a 44 per cent rise in third-quarter revenue, as concerns around China’s economic slowdown and fierce e-commerce competition weigh on investor sentiment. The owner of the budget-focused shopping app Pinduoduo and its overseas sibling Temu on Thursday reported 99.35 billion yuan … Read more
Apple’s launch of the iPhone 16 has failed to impress consumers in China hoping to get a taste of its artificial intelligence (AI) technology, as the US tech giant grapples with competition from local behemoth Huawei Technologies, which launched a rival device just hours later. The Cupertino, California-based smartphone maker on Monday unveiled the highly … Read more
Chinese smartphone brand OnePlus is facing multiple grievances against its India operations, from profit margins to warranty and service claims, in another sign of trouble for Chinese brands in the world’s most populous country. In a letter to OnePlus India on Wednesday, the South India Organised Retailers Association (ORA) said members of the body had … Read more
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