Apple's New IPhone Sales in China Jump 20% in First 3 Weeks

FILE - The iPhone 15 Pro is shown after its introduction on the Apple campus, Sept. 12, 2023, in Cupertino, Calif. (AP Photo/Jeff Chiu, File)
FILE - The iPhone 15 Pro is shown after its introduction on the Apple campus, Sept. 12, 2023, in Cupertino, Calif. (AP Photo/Jeff Chiu, File)
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Apple's New IPhone Sales in China Jump 20% in First 3 Weeks

FILE - The iPhone 15 Pro is shown after its introduction on the Apple campus, Sept. 12, 2023, in Cupertino, Calif. (AP Photo/Jeff Chiu, File)
FILE - The iPhone 15 Pro is shown after its introduction on the Apple campus, Sept. 12, 2023, in Cupertino, Calif. (AP Photo/Jeff Chiu, File)

Apple Inc's new iPhones got off to a strong start in China, with their sales rising 20% in their first three weeks since their launch compared with its 2023 model, according to data from research firm Counterpoint.
Both Apple and Huawei's latest smartphones went on sale in China on Sept. 20, underscoring intensifying competition in the world's biggest smartphone market where the US firm has been losing market share in recent quarters to domestic rivals, Reuters said.
"We're seeing strong iPhone 16 series unit sales in China," Counterpoint said, adding the iPhone 16 Pro and Pro Max models were doing particularly well, with their combined sales rising 44% compared with their equivalent 2023 versions.
Overall iPhone unit sales in China, however, dropped 2% year on year during the three-week period because of decreased sales of older models and increased competition with Huawei's Mate and Pura series, it said.



EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
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EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo

The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said.

The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies.

The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying.

The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said.

The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering.

The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.