CHI­NESE RE­TAIL­ERS SLASH IPHONE PRICE

Business Daily (Kenya) - - MARKET PLACE -

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.

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