Apple is planning to keep iPhone production roughly flat in 2022, a conservative stance as the year turns increasingly challenging for the smartphone industry.
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Chinese tech stocks tumbled as weak corporate earnings coupled with a dimming global growth outlook intensified selling.
Smartphone shipments fell 11% in the first quarter, the worst drop since the coronavirus outbreak, according to Canalys.
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Share buybacks are emerging as the hottest trend among Chinese tech giants and industry leader Tencent Holdings may be the next to jump on the bandwagon.
Tencent Holdings is nearing a deal that could help the tech behemoth further its ambitions for the metaverse.
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Chinese smartphone giant Xiaomi will build a plant that can produce 300 000 vehicles annually in Beijing for its electric vehicle unit.
Chinese smartphone maker Xiaomi reported a smaller than expected rise in third-quarter revenue, hurt by intensifying competition from domestic rivals.