China's Ban on American Chips Impacts Apple's iPhone Sales
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China's Ministry of Industry and Information Technology has directed domestic electric-vehicle manufacturers to increase spending with local chipmakers, at the expense of US ones, in an effort to revive a nationalist spirit and reduce reliance on the US. This move has already impacted Apple's iPhone sales in China, which were down 24% in the first six weeks of 2024 due to the growing popularity of Huawei. The directive also affects US chipmakers, such as Nvidia, which reported $10.3 billion in revenue from China for its latest fiscal year. The US has retaliated with tough export controls, which have harmed both Chinese companies and US chip giants like Nvidia. Additionally, the US House voted in favor of a bill threatening to ban TikTok unless it is divested from its Chinese parent company...
#newstr #China #Iphone #Apple #Huawei