Microsoft Consolidates Retail Channels in China

FILE PHOTO: A person walks past a Microsoft sign at its office building in Beijing, China May 25, 2023. REUTERS/Tingshu Wang/File Photo
FILE PHOTO: A person walks past a Microsoft sign at its office building in Beijing, China May 25, 2023. REUTERS/Tingshu Wang/File Photo
TT

Microsoft Consolidates Retail Channels in China

FILE PHOTO: A person walks past a Microsoft sign at its office building in Beijing, China May 25, 2023. REUTERS/Tingshu Wang/File Photo
FILE PHOTO: A person walks past a Microsoft sign at its office building in Beijing, China May 25, 2023. REUTERS/Tingshu Wang/File Photo

Microsoft is consolidating its retail channels in mainland China, the firm said in response to media reports that it is closing its network of authorized physical retailers in the world's second-largest economy.
Microsoft did not confirm or deny the closures and did not comment on the number of authorized stores that would be impacted by the consolidation, in response to a request for comment from Reuters.
"Microsoft continually assesses its retail strategy to meet the evolving needs of our valued customers and we’ve made the decision to focus our channel approach in Mainland China," it said in a statement.
Microsoft products would still be available in the mainland via its retail partners and its own website, it added.
Microsoft does not directly operate physical retail stores in China and it did not elaborate on which retail partners would continue to stock its products in the China market.



Intuitive Surgical Results Beat on Growing Demand for Surgical Robots

Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo
Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo
TT

Intuitive Surgical Results Beat on Growing Demand for Surgical Robots

Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo
Representation photo: Employees work at the office of humanoid robots developer Ex-Robots in Dalian, Liaoning province, China June 6, 2024. REUTERS/Florence Lo

Intuitive Surgical on Thursday beat estimates for second-quarter profit and revenue on growing demand for its surgical robots used in minimally invasive procedures, sending its shares up 6.7% after the bell.
Investor expectations around medical device makers have grown lately on hopes of elevated demand for surgical procedures as people, especially older adults, opt for medical procedures deferred during the pandemic, Reuters said.
On an adjusted basis, Intuitive earned $1.78 per share for the quarter ended June 30, beating analysts' estimates of $1.54 per share, according to LSEG data.
The company reported quarterly revenue of $2.01 billion, compared with analysts' estimates of $1.97 billion.
The rise in revenue was driven in part by growth in the procedure volume from the company's surgical robots called da Vinci. Worldwide da Vinci procedure volumes rose about 17%, from a year ago, the company said.
Industry bellwether Johnson & Johnson on Wednesday posted a 2.2% rise in second quarter sales at its medical technology business, but fell short of analysts' estimates.
Larger peer Abbott Laboratories also raised its annual profit forecast, helped by double-digit growth in sales of its glucose monitors and strong demand for heart devices.