No crowds as Apple’s iPhone 11 hits stores in China

Apple has been losing ground to competitors with cheaper and feature-packed handsets in recent years. (Reuters)
Updated 20 September 2019

No crowds as Apple’s iPhone 11 hits stores in China

  • The sales performance of the US tech giant’s latest line-up is being closely watched in the world’s largest smartphone market
  • Apple has been losing ground to competitors with cheaper and feature-packed handsets in recent years

BEIJING/SHANGHAI: Apple’s latest iPhone 11 range hit stores in China on Friday, with short queues of die-hard fans contrasting with the hundreds who camped out ahead of some previous launches.
The sales performance of the US tech giant’s latest line-up is being closely watched in the world’s largest smartphone market, where Apple has been losing ground to competitors with cheaper and feature-packed handsets in recent years.
The queues at the Shanghai and Beijing stores, which combined added up to few dozen customers, were in sharp contrast to previous years, when hundreds used to wait for hours outside Apple’s shops to be the first to grab its latest offerings.
But much of the fanfare in China has moved online where the pre-sales for iPhone 11, priced between $699 and $1,099, started last week.
Analysts said they had gotten off to a better start than the last cycle a year ago. Chinese e-commerce site JD.com said day one pre-sales for the iPhone 11 series were up 480 percent versus comparable sales for the iPhone XR last year.
Among customers that took to a store in Beijing on Friday to make a purchase in person was a programmer who only gave his surname as Liu, who said he had a model from every Apple series since the 3G range.
He said he was particularly attracted to the more expensive iPhone 11 Pro, which has three cameras on the back. “When it comes to taking photos, it’s better for night shots and the image is clearer,” he told Reuters.
Other customers, however, said that they were concerned that the range was not enabled for fifth-generation networks, putting them behind 5G models already released by China’s Huawei Technologies and smaller rival Vivo, and expressed hopes that Apple could make it happen for its next line-up.
“I think by the end of next year, especially in big cities like Beijing, 5G will be commonplace,” said civil servant Liu Liu. “If they don’t research this then they’ll lag way behind.”
The in-store launch of the iPhone 11 in China came a day after Chinese smartphone maker Huawei unveiled new smartphones which it said were more compact, with more sensitive cameras and wraparound screens more vivid than those of the latest iPhone, though it played down concerns about the lack of access to Google’s popular apps.
Huawei has experienced a surge in support from Chinese consumers after the brand was caught up in a trade war between the United States and China, which has in turn eaten into Apple’s market share in the country.


Oil prices fall but losses limited by Brexit deal hopes

Updated 16 min 48 sec ago

Oil prices fall but losses limited by Brexit deal hopes

  • US retail sales in September fell for the first time in seven months adding to economy fears

LONDON: Oil prices fell on Thursday as industry data showed a larger than expected increase in US inventories but losses were limited after Britain and the EU announced they had reached a deal on Brexit.

Global benchmark Brent crude was down 37 cents at $59.05 in afternoon London trade while US WTI crude was also down 37 cents, at $52.99.

US crude inventories soared by 10.5 million barrels to 432.5 million barrels in the week to Oct. 11, the American Petroleum Institute’s weekly report showed, ahead of official government stocks data.

Analysts had estimated US crude inventories rose by 2.8 million barrels last week.

“US sanctions imposed on Chinese shipping company COSCO are seriously denting demand for imported crude ... This has a profound impact on US crude oil inventories as reflected in last night’s API report,” said Tamas Varga, an analyst at PVM Oil Associates.

“US refinery maintenance is not helping to reverse the current trend and further builds in US crude oil inventories can be expected in the next few weeks.”

The US imposed sanctions on COSCO Shipping Tanker (Dalian) and subsidiary COSCO Shipping Tanker (Dalian) Seaman & Ship Management for allegedly carrying Iranian oil.

Adding to concerns about the global economy — and therefore oil demand — data from the US showed retail sales in September fell for the first time in seven months. Earlier data showed a moderation in job growth and services sector activity.

Nevertheless, Brexit developments helped limit oil’s decline. Prime Minister Boris Johnson said Britain and the EU had agreed a “great” new deal and urged lawmakers to approve it when they meet for a special session at the weekend.

Analysts have said any agreement that avoids a no-deal Brexit should boost economic growth and oil demand.

However, the Northern Irish party whose support Johnson needs to help ratify any agreement, has said that it refused to support the pact.

Hopes of a potential US-China trade deal also supported oil. The commerce ministry in Beijing said China hoped to reach a phased agreement with Washington as early as possible.

But the German government has lowered its 2020 forecast for economic growth to 1 percent from 1.5 percent, the economy ministry said. It said Germany, Europe’s largest economy, was not facing a crisis.