Austerity marked the luxury goods industry, triggered off by the anti-corruption drive by president Xi Jinping. But the growth figures are back on track, says Rupert Hoogewerf, based on research by his Hurun China Rich report, released on Thursday, he tells the China Daily. Purchases are back on the 2013 level.
Category Archives: Samsung
The global recall of the Samsung Galaxy Note 7 has plunged the Korean company into disarray. Samsung was already a long time without leadership, says business analyst Shaun Rein to Bloomberg, but the disaster has only become worse, after the latest disaster.
China´s users of the Samsung Note 7 were already upset the Korean company did not pull back their faulty model from the Chinese market, like they did elsewhere. Now Samsung had to withdraw all Note 7 phones globally, they are in China done in their largest market, says business analyst Shaun Rein to Bloomberg.
Samsung had a loyal group of users in China, but its way of dealing with the latest security scare has shocked their loyal follower, says retail analyst Ben Cavender to AP. Samsung did not recall its Note 7, despite possible igniting batteries, and recalls in the rest of the world.
China´s smartphone maker Xiaomi has launched its first tablet and business analyst Ben Cavender sees the company doing well in the 15-35 year bracket of consumers who never used a PC. Apple and Samsung should start to worry, he explains in Bloomberg TV.
Apple got after five years negotiating its deal with China Mobile, the world´s largest mobile telecom provider. But according to business analyst Shaun Rein it is very unlikely many of the 759 million China Mobile subscribers will fall for Apple´s 4G phones. The top-end users have already signed up subscriptions with for example Samsung, and 80% of the users use 2G and won´t switch easy to 4G.
The new iPhone will be available in China in the coming days, but it is no game-changer, warns business analyst Shaun Rein at Bloomberg. “They have to make better phones than Samsung, otherwise they might just follow Nokia.” At the bottom-end Lenovo and Xiaomi keep the market occupied.
Most companies in trouble restructure, scale down, very few are able to reinvent themselves. But it can be done, writes IMD-professor Bill Fischer in Forbes. Soon a book on the Chinese company Haier, one of the companies who reinvented itself, co-authored by Bill Fischer, will appear.
British soccer legend David Beckham has started as an ambassador for scandal riddled Chinese football, but that will not be enough, tells soccer expert Rowan Simons in the South China Morning Post. “Not enough to wipe the ingrained cynicism in fans.”
China’s consumers continue to spend, despite a small dip in growth, also for decorating their homes, argues business analyst Shaun Rein, and goes against JWT executive Tom Doctoroff, who says Chinese consumers go for cheaper products. Shaun Rein dismantles three consumers myths in Business Week.