News Snapshot:
Smartphone shipments in China plunged 27% in October compared with the same month last year, government data released showed. The numbers suggest that handset demand is weak despite China’s recovery from the novel coronavirus and that Apple Inc and its local rivals, such as Huawei Technologies Co Ltd, will compete in a shrinking market. Phone makers shipped 25 million handsets in October compared with 34.6 million a year earlier, according to the China Academy of Information and Communications Technology (CAICT), a state-backed think-tank. That follows an annual 36% decline in September, to 22 million compared with 34.7 million in September...
