Fires in the smartphones that were meant to replace devices that had been recalled because of their propensity to explode could be a disaster for Samsung
and a potential boon to Apple.
Apple's stock was up $2.66 at $116.72 in afternoon trading and was the largest contributor to gains on the S&P 500. Earlier, Samsung's stock dipped
1.5 percent.
Samsung's ongoing problems suggested the world's largest smartphone maker has failed to fix a problem that has already damaged its brand and threatened to
derail a recovery in its mobile business.
Following the reports of fire in replacement devices, Verizon Communications Inc (VZ.N), AT&T Inc (T.N) and other wireless carriers suspended sales and
exchanges of Note 7s.
Best Buy Co Inc (BBY.N) will no longer sell the Note 7 and said customers could return their smartphones or exchange them for a different device.
"We believe the Note 7's ongoing issues could help market share shifts for Apple," Credit Suisse analyst Kulbinder Garcha said in a note to clients on
Monday. He estimated that a 5 percent gain in high-end smartphone market share
would increase Apple's earnings per share by as much as 7 percent.
Apple's stock has rallied 13 percent since mid-September on optimism about demand for the recently launched iPhone 7.
Shares are up 30 percent from lows hit in May, when fears about weak iPhone demand allowed Google parent Alphabet Inc (GOOGL.O) to briefly eclipse Apple as
the world's largest company by market capitalisation.
Samsung is the world's largest seller of smartphones by volume, with about 23 percent market share, followed by Apple with 12 percent, according to market
research firm IDC.
BEIJING, July 19 (Xinhua) -- When Damir Karcas, who markets drinks from Serbia, came to southeastern China to promote his products a month ago, he knew
little about selling on Chinese e-commerce sites, an increasingly popular venue
for food and beverage sales.
"I paid little attention to market information in this field before, but it seems necessary to keep yourself tuned in to changing market conditions in
China," said Karcas.
As infrastructure development progresses steadily along the China-proposed Belt and Road, a trade and infrastructure network that connects Asian, European
and African countries, breaking invisible barriers of information asymmetry
stands out as a key task.
Failures haunt many firms that venture overseas due to misunderstandings with local stakeholders and ignorance of the local regulatory and cultural
environment.
Information asymmetry has become the top issue facing overseas investment by businesses as many firms are ignorant of possible risks, according to Jia Huai,
deputy head of the economic information department of the China Council for the
Promotion of International Trade.
"It is reality that information and communication gaps create differences among individuals, groups and countries and misunderstandings about specific
issues or projects when there is little or incorrect information," said Aman
Ullah Khan, Chairman of the Pak-China Business and Investment Promotion Council.
Jia suggested that enterprises at home and abroad establish an information exchange platform to develop trade and investment strategies according to the
target country's political, economic, cultural and social conditions.
An open and sound information-sharing mechanism should be based on big data and include databases, business connection platforms, consulting services as
well as information collection, publication, screening and other customized
services to help investors gain insight and expand their influence in their
targeted markets.
Chinese government organizations and media groups are working to bridge the information gap and build an Information Silk Road. The State Information Center
is constructing databases of countries involved in the initiative, and Xinhua
News Agency rolled out a new line of information products to help global
investors form better partnerships under the Belt and Road Initiative.
China's bilateral trade with countries along the Belt and Road Initiative remained robust amid downward economic pressure and reached close to three
trillion yuan (490.2 billion yuan) in the first half of 2015, about one-fourth
of total trade volume.
"To avoid misconceptions and misunderstandings and to increase trust among stakeholders, partners, and investors, there should be fair and accurate flow of
information. With the passage of time, economic and financial information will
be as important as investment and other projects," Khan added.
WELLINGTON, Jan. 21 (Xinhua) -- A host of Chinese talent has been lined up to perform at New Zealand's biggest Chinese New Year event, which is being expanded
this year to accommodate a greater variety of performers and visitors.
The Auckland City Council said Thursday that the Auckland Lantern Festival, which will run from Feb. 18 to 21, would be moved from a city park to the
central Auckland Domain this year in anticipation of tens of thousands of
festival-goers.
The celebration of Chinese New Year would feature traditional and contemporary Chinese culture, with more than 800 lanterns, including new monkey
lanterns to welcome the Year of the Monkey, and the grand finale fireworks
display.
Auckland Tourism, Events and Economic Development (ATEED), which presents the festival in partnership with Asia New Zealand Foundation, said some of China's
top performers would be appearing.
They included, Second Hand Rose, one of Beijing's biggest alternative rock bands, ATEED gen. Wholesale NHL Jerseys Free Shipping Wholesale NFL Jerseys Wholesale Hockey Jerseys Wholesale Basketball Jerseys From China Wholesale Baseball Jerseys Wholesale Soccer Jerseys Cheap Wholesale New Hockey Jerseys Cheap Jerseys Cheap Jerseys China Wholesale Basketball Jerseys Free Shippping
