Monday May 28, 2018
Home Business Apple loses $...

Apple loses $60bn over reports of weak smartphone demand in 2018

There are reports that Apple is designing and producing its own device screens, secretly at a facility near its headquarters in California

0
//
15
Apple logo
Apple Watch Plays Good Samaritan, Helps Save Elderly. Pixabay
Republish
Reprint

Apple lost over $60 billion in market cap in two days after Taiwan Semiconductor, Apple’s biggest supplier, said in an earnings update that second-quarter revenues would be hit by “weak demand from the mobile sector”.

Apple shares fell nearly seven per cent on Thursday and Friday over reports of a sharper slowdown in smartphone sales this year, Financial Times reported late on Friday.

Apple could acquire the entertainment company, Netflix
Apple lost 60 billion. IANS

Not just Apple, the news led to several global chipmakers losing market valus, including Analogue Devices, Dialog Semiconductor, Qualcomm and Qorvo.

For the first time since 2009, smartphone sales in China fell last year while global sales fell in the fourth quarter of 2017 for the first time since 2004.

In another setback for the iPhone maker, its efforts to get LG Display’s OLED screens for future iPhone production line “have hit manufacturing issues”, the Wall Street Journal reported on Friday Apple is reportedly divided on whether LG will be able to succeed as Samsung’s replacement for OLED displays.

Also Read: Apple Marks Earth Day With Donations

The Cupertino-based company currently uses Samsung’s OLED displays for iPhone X. The LCD panels which are currently being used in the iPhone 8 and iPhone 8 Plus are supplied by LG. Apple Watch screen is made by LG Display. There are reports that Apple is designing and producing its own device screens, secretly at a facility near its headquarters in California. It is believed that Apple will switch to OLED displays for all of its iPhone releasing in 2019. IANS

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Governments Across The World Request Apple for 30,000 Device Information

The governments and private parties around the world also requested information on 3,358 Apple accounts and data was provided in 82 per cent of cases.

0
//
24
apple
Private party request circumstances generally relate to instances where private litigants are involved in either civil or criminal proceedings.

The governments around the world sent requests for device information on 29,718 Apple devices, with India asking for 27 device requests in the July-December 2017 period, the iPhone maker has revealed.

Overall, the data was provided in 79 per cent of cases, Apple said in its bi-annual transparency report made available on Friday.

In case of India, the data was provided in 14 out of 27 requests (52 per cent).

The governments and private parties around the world also requested information on 3,358 Apple accounts and data was provided in 82 per cent of cases.

“Examples of such requests are where law enforcement agencies are working on behalf of customers who have requested assistance locating lost or stolen devices.

apple
In case of India, the data was provided in 14 out of 27 requests (52 per cent). Pixabay

“Additionally, Apple regularly receives multi-device requests related to fraud investigations. Device-based requests generally seek details of customers associated with devices or device connections to Apple services,” the Cupertino-based company said.

Private party request circumstances generally relate to instances where private litigants are involved in either civil or criminal proceedings.

The tech giant said that starting with the period July 1-December 31, 2018, it will “report on government requests to take down Apps from the App Store in instances related to alleged violations of legal and/or policy provisions”.

Read More: Home Router Devices Were Compromised By Foreign Hackers Says FBI 

Apple requires government and private entities to follow applicable laws and statutes when requesting customer information and data.

“We contractually require our service providers to abide by the same standard for any government information requests for Apple data. Our legal team reviews requests received to ensure that the requests have a valid legal basis,a the company said.

“When we receive an account request seeking our customers’ personal information, we notify the customer that we have received a request concerning their personal data except where we are explicitly prohibited by the legal process, by a court order Apple receives, or by applicable law,” it added. (IANS)