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Apple: Road to Recovery in China?
Last month saw a 52% increase of sales of Apple’s [AAPL] marquee product in China. Figures from the China Academy of Information and Communications Technology showed smartphone sales soared, with 3.5 million units sold being foreign brands — most of which are iPhones, Bloomberg reported. Apple has been cutting prices since the start of the year, in a bid to compete with homegrown brands, Huawei foremost among them.
Adani Poised to go Digital
The Indian behemoth [ADANIENT:NS] is weighing an expansion into e-commerce and payments, according to sources quoted by the Financial Times. It is considering applying for a licence to operate on the country’s Unified Payments Interface, and is moving to finalise plans for a co-branded credit card. It also is hoping to break into online shopping via the government-backed public e-commerce platform, the Open Network for Digital Commerce.
Evergrande EV Unit Pops
The share price of Evergrande New Energy Auto [0708:HK], the electric vehicle (EV) unit of beleaguered real estate developer China Evergrande [3333:HK], has more than doubled after liquidators said they were in talks with a buyer who might purchase a 29% stake. Elsewhere, BP Ventures-backed BluSmart, India’s biggest electric taxi operator, wants to raise more than $300m to add thousands of new cars to its fleet.
New MU Japan Plant
Micron Technology [MU] is set to construct a new DRAM chip-making factory in Hiroshima, Japan, by the end of 2027, according to Japanese daily Nikkan Kogyo, as reported by Seeking Alpha. The company is expected to invest up to $5.1bn in the new plant, with construction scheduled to begin early in 2026. Micron had originally planned for the factory to go online this year, but market conditions led them to push this back.
Green Hydrogen Project in the Offing
French energy giant TotalEnergies [TTE] is exploring a collaboration with Austria’s Verbund [VER:VI] on green hydrogen production in Tunisia. Verbund and TE H2 — a joint venture owned 80% by TotalEnergies and 20% by Luxembourg’s Eren Groupe — signed a memorandum of understanding with Tunisia’s government to undertake research towards the project, the two companies said in a joint statement Tuesday.
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