Tuesday March 26, 2019
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Apple Loses $60bn Over Reports Of Weak Smartphone Demand in 2018

Apple suffers a huge loss due to low smartphone demand in 2018

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Apple
First 5G iPhone to hit the stores in 2020: Report. Pixabay

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.

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.

Tim Cook
Tim Cook. Wikimedia Commons

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.

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.

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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

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Access 300 Magazines on Apple News+ For $9.99 a Month

The company also announced Apple Card designed for iPhones

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Apple, smartphone
Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

Apple on Monday launched an all-new service called Apple News+ where users can read latest issues of 300 magazines in categories like entertainment, politics, lifestyle, health and travel etc.

Newspapers like the Los Angeles Times, The Wall Street Journal and Canada’s The Star will also arrive on Apple News+.

Apple News+ will be available for $9.99 per month across Apple devices, starting with the US and Canada and the first month’s subscription will be free.

“The idea is to harness the power of journalism and its cultural impact. It is a great opportunity for publishers,” Apple CEO Tim Cook told the audience at the Steve Jobs theater at its Cupertino campus.

Apple won’t allow advertisers to track you so it is private and secure, he added.

Apple, Campus, China
A customer is entering the Apple store in Fairfax, Virginia. VOA

Cook said the Apple Pay feature will cross 10 billion transactions in 2019.

The company also announced Apple Card designed for iPhones.

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The users can sign up for Apple Card and start using it via Wallet. Goldman Sach is the issuing authority for Apple Card that will be acceptable all over the world.

“Goldman Sach will not sell your data to third parties,” said the company. (IANS)