Updated: 2012-05-04 08:44
Customers try out on Apple iPhones at a shop in the Sanlitun shopping district in Beijing. Wang Jing / China Daily
Apple on roll in China as sales spike in Q2
Tech giant Apple Inc's sales in China accounted for over 20 percent of the company's $39.2 billion (29.6 billion euros) earnings in the fiscal Q2, a sharp increase compared to just 4.5 percent in the 2011 fiscal year, China News reported, citing Apple's quarterly fiscal report.
Apple's revenue in China during the most recent two fiscal quarters totaled $12.4 billion, rivaling its annual performance of $13.3 billion last year. iPhone sales in China quintupled in the fiscal Q2.
Apple Inc has reported earnings of $11.6 billion in net profits for the second fiscal quarter ended March 31, up 93 percent year-on-year. It earned $12.3 per share on sales in the same period.
Eedoo game console about to hit market
Beijing eedoo Technology Ltd, the video gaming unit of Legend Holdings Ltd, said the company's first multimedia entertainment console will soon be available in the Chinese market for 3,799 yuan ($600, 456 euros) per unit.
Eedoo is the world's second company to produce a controller-free entertainment console, after Microsoft Corp, said Jack Luo, CEO of the company. Eedoo delayed the launch date for about a year because, Luo said, it needed time to "further improve the product".
The CT510 console enables users to control and interact with the device without the need for a controller.
Savills sees growth despite property curb
Savills Plc, a UK-based real estate adviser, expects revenue growth of 10 to 20 percent in China this year, despite real estate curbs and an economic slowdown, said Jeremy Helsby, group chief executive.
Last year, Savills' group revenue was up 7 percent, compared with 20 percent growth in China, according to the company's financial statements.
The company mainly runs four lines of businesses in China: property management, valuation, consultancy and agency.
The company plans to open a new branch this year, likely in Qingdao, Shandong province.
Bosch continues to turn in steady funds
German technology and services provider Bosch Group said it would maintain annual investment of 3 to 4 billion yuan ($475 million to $635 billion, 360 million to 481 million euros) until 2015 to support sustainable growth in China, its third largest market.
"The steady growth in China is the consequence of our continuous investment and our consequent localization strategy," said Uwe Raschke, a board member with responsibility for Asia-Pacific.
Bosch had consolidated sales of 42.3 billion yuan in China in 2011, a growth of 13 percent over 2010.
Microsoft sues two Chinese IT firms
Two Beijing-based IT companies were brought to court for using a number of pirated Microsoft software packages in their offices. The US company is seeking at least 10 million yuan ($1.59 million) in compensation.
Microsoft accused Beijing Ming Wan Zhi Da Technology Co Ltd and Ming Wan Information Technology Co Ltd, which jointly operate two websites and offer e-commerce solutions to small and medium-sized companies, of installing pirated Microsoft Windows, Office, Visual Studio and other software packages on the companies' computers, according to its lawyer.
The judge of Beijing No 2 Intermediate Court ruled that the court needs to hear the case in a second trial due to stark differences in the two sides' estimates of economic losses.
GE Aviation to boost engine output
GE Aviation, a unit of General Electric Co, plans to increase the production of its energy-efficient GEnx engine by 25 percent next year to meet growing demand, notably from the Chinese market.
The energy-saving engine is the quietest commercial engine GE has ever produced, and is the engine on the Boeing 787 Dreamliner, which is expected to debut in China later this year.
The company plans to increase its capacity from 160 units to more than 200 within a year. China is expected to account for 17 percent of global traffic in the coming years, said Xiang Weiming, general manager of GE Aviation in China.
Boeing gains as Airbus fever wanes
China Eastern Airlines is set to place a $6 billion (4.54 billion euros) order for up to 20 Boeing 777 jets, Reuters reported, citing unnamed sources.
Besides handing the 777 order to Boeing, China Eastern is stalling on the completion of a $3 billion order for 15 Airbus A330 aircraft announced last October, according to Reuters.
Boeing and Airbus are betting on new Chinese wealth and government infrastructure spending to bolster travel in the country.
Work on Shanghai Disney progresses
Builders will soon start building the infrastructure of the Shanghai Disney Resort, after preparations on the ground formation work were completed.
Bill Ernest, president and managing director of Disney Parks and Resort Asia, praised the ground-work by the project's Chinese partner - Shanghai Shendi Group, at the build site handover event on April 26. He said construction of hotels would start later this year.
BlackRock, CIC plan new fund
BlackRock Inc, the largest money manager in the world, plans to start a fund with China Investment Corp, according to a person familiar with the matter.
CIC, China's sovereign-wealth fund, and BlackRock will initially provide capital for the investments, which are to go into Chinese businesses that sell products in China, said the person, who asked not to be named.
Liu Erh-fei, who will leave his position as chairman of Bank of America Corp's brokerage operations in China soon, will head the venture, the person said.
Hero Group enters formula market
Switzerland-based consumer goods giant Hero Group has entered China's infant formula market by selling its products directly through a Chinese firm.
The company has launched Hero Nutradefense, one of the many brands under its infant nutrition and fruit division.
"We hope to be able to contribute to the healthy growth of Chinese babies," said Peter Amon, chief executive director of the group.