Qualcomm reports a 35% jump in sales to Chinese smartphone makers, Estée Lauder lowers earnings forecast due to slow recovery in China, and Apple expects to return to growth next year
Why it matters
The performance of smartphone chip companies in China is significant as it reflects the recovery and demand in the global smartphone market, which has been impacted by the pandemic and geopolitical tensions.
What the papers say
Qualcomm reports a 35% jump in sales to Chinese smartphone makers, while Estée Lauder blames slow recovery in China and Apple expects to return to growth next year.
How we got here
The global smartphone market has faced challenges due to the pandemic and falling consumer confidence. China, as one of the largest smartphone markets, plays a crucial role in the recovery and growth of smartphone chip companies.
More on these topics
Huawei Technologies Co., Ltd. is a Chinese multinational technology company headquartered in Shenzhen, Guangdong. It designs, develops, and sells telecommunications equipment and consumer electronics.
China, officially the People's Republic of China, is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019.
The United States of America, commonly known as the United States or America, is a country mostly located in central North America, between Canada and Mexico.