China’s GDP growth reached a lower-than-expected 6.3 per cent last quarter, when retail sales gains fell back to 3.1 per cent in June – down from 18.4 per cent in April and 12.7 per cent in May. That marked the first time in six quarters that the domestic smartphone industry saw a contraction in single digits. Smartphone shipments in China posted a narrower decline in the second quarter, after reaching their lowest level in first-quarter shipments earlier this year, as Apple’s iPhone 14 discounts helped stimulate local demand and US-blacklisted Huawei Technologies returned to the market’s top-five ranking. offset efforts by smartphone vendors and e-commerce operators to offer bigger handset discounts during the recent 618 shopping festival, which saw sales tumble more than 5 per cent. This event is China’s second-largest retail extravaganza after Singles’ Day. Is Chinese economy shrinking ?
Previous Article
Investigation into Microsoft Teams packaging in EuropeNext Article
Kenya cyber-attack