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Doug Young

HARDWARE: Is China Spying on Western Hardware?

Doug Young 10月10日

财新传媒英文部编辑

Bottom line: A Bloomberg report on Chinese government spying microchips in hardware used by Apple, Amazon and others may be flawed, but highlights the potential for such spying due to China's important place in the global supply chain.
As I return to blogging after a couple weeks absence, I wanted to weigh in on an explosive story that ran last week in Bloomberg about tiny spying chips that had been secretly loaded by China's military onto globally used motherboards. Quite a bit has happened since the original story's publication (English article), which said that tiny custom-......
Doug Young

SMARTPHONES: Huawei Rolls Past Apple

Doug Young 08月01日

财新传媒英文部编辑

Bottom line: Huawei could challenge Samsung for the global smartphone crown in as little as a year, though a potential Achilles heel could be the "outing" of its surging Honor brand that most may not associate with the Chinese parent.
Smartphone pioneer Apple (Nasdaq: AAPL) has just reported its latest quarterly results, which means that all the data tracking firms can simultaneously release their own industry data showing the latest trends. Those trends show that Apple's sales were basically flat for in the quarter on a unit basis, even as the bigger story was that the US g......
Doug Young
Bottom line: A brouhaha involving Lenovo's branding as unpatriotic for not supporting homegrown technology is likely to blow over quickly, and spotlights China's continued reliance on foreign technology.
In a story that looks like a something from the McCarthy era, embattled PC maker Lenovo (HKEx: 992) has landed at the center of a controversy that's seeing it branded by some as a traitor for choosing foreign technology over a homegrown Chinese alternative. This kind of thing isn't at all that uncommon in China, where politics, business and everyday life mix freely.
W......
Doug Young
Bottom line: A US investigation of Huawei into possible illegal sales of US-made equipment to Iran is old news, and may be getting dredged up now to give Washington leverage in its ongoing trade frictions with China.
Some might argue that US sanctions against telecoms equipment maker ZTE (HKEx: 763; Shenzhen: 000063) are just the prelude to a much bigger story that could now be sharping up, with word that ZTE's much larger rival Huawei is being probed in a similar case. The subject at the heart of this matter involves sales of American-made equipment to Iran, which would have vio......
Doug Young
Bottom line: Foxconn's taking of the smartphone manufacturing crown from Samsung reflects the resurgence of Apple and rises of Huawei and Xiaomi, and could ultimately force other brands to use such third-party producers.
Today we'll take a step back from the usual name-brand smartphone rankings to look at a new report that shows that Taiwan's Foxconn (HKEx: 2038) is emerging as one of those "industry leaders you never heard of", quietly supporting some of the fastest-growing names. That's the big takeaway from the latest figures from data tracking firm IDC, ......
Doug Young
Bottom line: Skidding sales in China's oversaturated smartphone market are long overdue, and could claim Gionee as a first major victim by year-end.
The inevitable is finally happening, and China is showing signs of smartphone burnout. The latest government data is showing that first-quarter smartphone sales in China plunged 26 percent, which is one of the largest drops I can ever recall. In this case we can't really blamed the usual seasonal effect, since this is a quarterly number that includes both January and February -- the two months when Lunar New Year falls.
At the sa......
Doug Young

TELECOMS: Huawei Feasts on China Market

Doug Young 04月02日

财新传媒英文部编辑

Bottom line: Huawei's strong revenue and profit growth for 2017 are coming largely on the back of its home China market, which should continue to boost the company as Beijing aggressively pushes upcoming 5G services.
Telecoms giant Huawei is in the headlines as the new week begins, with word that the company has rekindled its profit growth in its latest reporting year. Unlike other companies, Huawei isn't publicly traded and thus isn't required to release any financials, which always means we need to take their numbers with a slight grain of salt. But generally speaking the co......
Doug Young
Bottom line: Xiaomi's taking of the India smartphone crown and attendance at a major trade show next week are aimed at boosting its profile in the run-up to its IPO. 
Hype is building in the run-up to what's likely to be one of the largest high-tech IPOs this year, with word that smartphone maker Xiaomi has snatched the India crown from a fading Samsung (Seoul: 005930) and is also making its first visit to the world's top telecoms trade show next week. Both events are important milestones for a resurgent Xiaomi, as it attempts to boost its profile for a public listing tha......
Doug Young

TELECOMS: Spurned by US, Huawei Turns to UK

Doug Young 02月07日

财新传媒英文部编辑

Bottom line: Huawei's latest big financial commitment to the UK is mostly for show, but Britain could still emerge as a winner over the longer term if Huawei conducts more R&D work in its British labs.
Huawei gives $4.2 billion gift to UK
After getting the cold shoulder from the US for its smartphones, telecoms superstar Huawei is turning increasingly to Europe, and specifically to Britain, for consolation. That's the key takeaway from the latest reports that say Huawei has told British Prime Minister Theresa May that it will spend a further 3 billion pounds ($......
Doug Young
Bottom line: Huawei's decision to go ahead with a US market entry for its latest high-end phone, despite collapse of a tie-up with AT&T, is likely to produce very limited results due to lack of a carrier partner.
Huawei goes solo into US
If you can't get a serious business partner, at least get a pretty face. That seems to be the message coming from a frustrated Huawei, which has announced it has signed on "Wonder Woman" star and model Gal Gadot as chief experience officer as it prepares to enter the US. This somewhat frivolous move was most likely part of......
Doug Young

TELECOMS: 5G Buzzes Early Into China

Doug Young 12月01日

财新传媒英文部编辑

Bottom line: A bevy of signals from Beijing indicate China will roll out 5G networks around 2020, in step with major Western markets, providing a boon for telcos, equipment sellers and Internet companies.
China gets serious on 5G
After years of watching China following years behind the West in rolling out its next-generation wireless networks, there are growing signs that the country intends to be a leader rather than a laggard with upcoming 5G service. The latest signal in that drive is coming from the country's state planner, which has just announced that five or more cit......
Doug Young
Bottom line: Apple should be able to extend its return to growth in China into at least one more quarter, while Xiaomi should also be able to continue posting strong double-digit growth for the next year.
Apple returns to China growth
Apple (Nasdaq: AAPL) has just released its latest quarterly results that show China is back on a growth track, quieting skeptics who had said its latest iPhone was debuting to mostly snoozes in the world's largest smartphone market. On a broader basis, IDC has also just announced its global figures for third-quarter smartphone sales, show......
Doug Young

SMARTPHONES: Huawei Unseats Apple, Eyes the Cloud

Doug Young 09月11日

财新传媒英文部编辑

Bottom line: Huawei could overtake Apple as the world's second largest smartphone seller in the next 1-2 years, while it could also pose a challenge in global cloud services over the next 5 years.
Huawei takes a shot at the cloud
We'll begin the new week with a couple of items from Huawei that show how the company that began as a telecoms network builder looks set to unseat fading PC giant Lenovo (HKEx: 992) as China's global leader in consumer tech. The first of those has one research house releasing data that show Huawei's smartphones surpassed&......
Doug Young
Bottom line: Smartisan's new funding and plans to produce 5-6 smartphones a year look like an anomaly in the highly competitive market, and it's unlikely to survive as a standalone entity over the next 5 years.
Smartisan gets new funding
I was a bit surprised to read that a clear second-tier smartphone player, the uppity Smartisan, has received 100 million yuan ($147 million) in new funding, as we begin the latest week of summer. I haven't seen this company's name or many second-tier players like OnePlus in more than half a year, though their collectiv......
Doug Young
Bottom line: Xiaomi's rising market share and securing of $1 billion in new financing underscore its nascent turnaround may have some legs, even as its position remains tenuous in the cutthroat market.
Xiaomi unveils latest phone
Former smartphone sensation Xiaomi is in several headlines as we head into the close of the week, all of which seem to underscore that its nascent rebound may have some legs. But as anyone in the industry will tell you, any smartphone maker is really only as good as its last model these days, meaning fortunes can quickly turn with just one mis......
Doug Young
Bottom line: New anti-corruption moves at JD.com and Meituan-Dianping show the cleanup campaign is moving down to the grass-roots level, in a positive development that should help the companies as many seek to go abroad.
Meituan, JD.com in new anti-corruption snares
Anyone unfamiliar with China might find it peculiar and even worrisome that near simultaneous announcements appear to show problematic internal corruption at two of the nation's top Internet companies, e-commerce giant JD.com (Nasdaq: JD) and leading group buying site Meituan-Dianping. While the t......
Doug Young

TELECOMS: Huawei in US Hot Seat Over Iran Sales?

Doug Young 04月13日

财新传媒英文部编辑

Bottom line: Huawei is likely to be found guilty of selling products to Iran in violation of US sanctions, and could be fined up to $2 billion but won't face additional punishment.
Huawei being probed for Iran violations?
When word first emerged four years ago that telecoms equipment maker ZTE (HKEx: 763; Shenzhen: 000063) was being investigated for selling American equipment to Iran in violation of US sanctions, other reports also indicated that crosstown rival Huawei was also being probed over the same matter. Huawei's name later disappeared from t......
Doug Young

SMARTPHONES: Oppo Lands in India Protest Storm

Doug Young 03月31日

财新传媒英文部编辑

Bottom line: A mass protest against Oppo in India over a Chinese manager's desecration of the national flag won't impact the company beyond a week or two, and reflects cultural sensitivity issues Chinese firms will face as they expand abroad.
Oppo under fire in India
Smartphone high-flyer Oppo is quickly learning the road to India isn't always so smooth, with word of a mass protest at the company's local operation due to a controversy involving desecration of the Indian flag. In this case the company appears to be learning a fast lesson in cultural sen......
Doug Young
Bottom line: Foundering prospects of cross-border tie-ups involving DreamWorks and Paramount shows the love affair between Hollywood and China may be entering a new phase of lowered, more realistic expectations.
DreamWorks Animation eyes sale of China JV stake
The old saying says that what goes up must come down, and that certainly appears to be the case with new reports of the unraveling of two more China-Hollywood tie-ups. The latest reports say that US giant DreamWorks Animation is looking to sell out its stake in Oriental DreamWorks, its landmark China animat......
Doug Young
Bottom line: Oppo's major new cricket sponsorship deal shows its commitment to India, but may have to be renegotiated if and when the company's fortunes decline in the next 1-2 years following its meteoric rise.
Oppo in India cricket deal
Smartphone high-flyer Oppo is trying to show the world it's serious about India, with word it will pay 1.1 billion yuan ($160 million) for rights to sponsor the nation's national cricket team. News of the deal comes just three months after China's top smartphone brand announced plans to build a production facility......

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陈酿老久 实朴

原文:还乡琐记:草木叩门 生活继续

吴春波H-R “乡田同井,出入相望,守望互助,疾病相持”,已成追忆。

原文:还乡琐记:草木叩门 生活继续

小胖子真不瘦 风口浪尖上的传奇人物!如果你就这样被打败,那你就真的太失败了,但是我相信你不是这种人,期待你东山再起的那天。

原文:回来吧,贾跃亭

lulud 创业英雄还是欺诈惯犯

原文:回来吧,贾跃亭

zhangmingxiao 川普执政一百多天,初见端倪

原文:商人治国成笑柄

孙越 史上有很多传奇,更有很多英雄,他们的死彰显生命的价值。

原文:对外侦察局的掏心猎手

zhangmingxiao 这个不是一起超售事件,是美联航因为内部员工需要乘坐飞机,旅客满员的情况下利用超售这个工具来达到赶下旅客的目的。

原文:美联航赶乘客下飞机 资深机长告诉你是否违规

郭杰群 在美国,地产开发商将出售资产所得在一定期限内进行类似房产的再投资可以享受一定的免税条款。这在我国当前还不具备,因此在一定程度上制约了地产商的能动性。

原文:REIT的海外发展及启示

Lypsey3543 “据个人了解,中国一线城市住宅投资收益率不会高于3,美国可以达到6。”作者这里说的应是租金收益率。首先,因(特大)人口增长加速,在新兴市场投资房产,主要看资本利得,动态租金收益要会延后实现,静态比较同期没有太大意义。其次,物业年均持有成本,纽约和中国一线城市不可比。第三,纽约和曼哈顿是两个概念。离开曼岛,租金中位数值完全是不是一个档次。而中国一线城市的租金上涨范围更大。因为仍处于成长期。总体而言,虽然在中美两国都投资的是房产,但从收益分布特征和波动率来说,完全可以看作是差别极大的两类资产。就如同高等级债券和蓝筹股票,横比收益没有意义,因为后者大幅超越。归根结底更可能是风险偏好异质性(含Demographic factors)和经济周期所处阶段决定了投资者更偏爱哪一类。

原文:2017年美国房地产市场展望——美国市场、中国视角

王争春 价格和土地供给的问题,我们慢慢谈。市场有垄断市场、寡头市场和竞争市场,定价规则自然有差异。

原文:面对房价,教科书自焚吗?经济规律笑了

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