CHINESE RETAILERS SLASH IPHONE PRICE
Several Chinese electronics retailers including Alibaba-backed Suning and Jd.com have slashed iphone prices this week, after Apple recently blamed poor sales of the smartphone in the country for a rare revenue warning. The discounting, as steep as $118 (Sh12,000) for the recently launched 64GB iphone XR, is the latest sign that Apple’s weak holiday sales in China may have extended to the current quarter. The price cuts began in the middle of this week, with at least six o ering promotions last weekend.
VW DELIVERS 10.8 MILLION VEHICLES
Volkswagen Group said on Friday its passenger car deliveries rose 0.9 per cent last year to a record 10.83 million, putting it neck-andneck with Renault-nissan-mitsubishi in the race to be the world’s biggest carmaker. Toyota last month released a forecast for total global sales of 10.55 million cars last year, but has yet to con irm o icial numbers. Volkswagen said the VW brand delivered 6.24 million vehicles last year, while premium brands Audi and Porsche posted registrations of 1.81 million and 256,000 vehicles respectively. This makes Audi the third biggest selling premium brand behind BMW, which delivered 2,125,026 cars and leader Mercedes-benz.
FORD, JAGUAR CUT THOUSANDS OF JOBS
Ford and Jaguar Land Rover unveiled sweeping job cuts across Europe last week as carmakers struggle with a slump in demand for diesel vehicles, tougher emissions rules and a global economic slowdown led by China. Tata-owned JLR, based in central England, said it will cut 4,500 out of 42,500 jobs, while Ford said it will slash “thousands” of jobs as part of an overhaul. A trade war between China and the US combined with Britain’s pending exit from the EU has fragmented once global markets, forcing carmakers to reassess the pro itability of individual models and locations.