Weekly News Wrap: Chinese retailers offer discounts on iPhones; Lawson weighing options for China unit
And Dongwon Industries eyes acquiring McDonald's Korea.
From Reuters:
Third-party retailers in China are offering discounts of as much as 10% on Apple Inc's iPhone 14 Pro amid sluggish demand for smartphones.
Electronics vendors JD.Com and Suning are currently selling the iPhone 14 Pro basic model for $1,062 (RMB7,199), checks of JD.com's app and Suning's website showed. That is 800 yuan cheaper than the standard price on Apple's official China website.
A number of other authorised Apple third-party sellers are offering similar discounts on the iPhone 14 pro and Pro Max, Reuters checks of promotions on social media showed.
Apple did not immediately respond to a request for comment.
From Bloomberg:
Japanese convenience store operator Lawson is exploring strategic options for its China operation, people with knowledge of the matter said, as consumption in the country recovers after Covid lockdowns.
The Tokyo-based firm has held talks with advisers as it weighs possibilities to boost growth in the China unit, including introducing strategic partners and selling minority stakes, the people said, asking not to be identified because the information is private.
Deliberations are preliminary and Lawson could decide against any deal, according to the people. A representative for Lawson said there is no specific discussion at the moment.
Shares of Lawson rose as much as 1.2% in Tokyo on Friday, giving the company a market value of about $3.9b.
From Reuters:
South Korea's Dongwon Industries in a regulatory filing on Monday said it is considering buying the local unit of the US fast-food chain McDonald's.
The unit is wholly owned by its parent's U.S. headquarters.
Last year, McDonald's Korea said it was seeking a new owner, nearly six years after its first failed attempt.
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