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Tag: apple

  • Apple moved iPhone 14 production out of China in mere weeks

    Apple moved iPhone 14 production out of China in mere weeks

    Apple is trying to diversify its supply chain away from China on rolling pandemic lockdowns there, as well as geopolitical headwinds between US and China, on one hand, or China and Taiwan, on the other, as that’s where the headquarters of its main assembler Foxconn is located.

    Foxconn, however, has also built operations in India, in factories near Chennai, and Apple’s iPhone 14 production diversification effort there went so well, that it was able to start shipping phones made in India mere weeks after the Chinese output instead of the two months expected initially.

    According to Jeff Pu, an analyst with Haitong International Securities, “India is now an attractive location for manufacturing as it offers better labor cost structure while Apple is looking to reduce geopolitical risks,” while Aruna Sundararajan, a former government secretary there, adds that “all major companies are now looking at India as part of their ‘China-plus one’ or ‘China-plus two’ strategy.”

    When asked for a comment on the successful transition of part of the iPhone 14 production schedule from China to India, Apple simply commented that it is “excited to be manufacturing iPhone 14 in India,” somewhat confirming that the conveyor belt launch has been smooth and earlier than anticipated.

    Apple started its production plans in India slow, with lowly entry-level iPhones like the SE, assembled by Winstron, then moved up the ladder to handsets like the iPhone 13 in the newfangled Foxconn factories.
    It typically doesn’t start manufacturing there on the same year the iPhone models are released, but 2022 is apparently different as it is in a hurry to diversify production away from China.
    Coordinating hundreds of component and critical material suppliers, delivering assembly equipment, and training a competent workforce must have been a Herculean task. Tim Cook’s supply chain management knowledge and Foxconn’s production prowess must have coalesced to shine with an iPhone 14 Indian production mere weeks after Foxconn started assembling the new series in China.
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  • Apple to raise App Store prices in some countries in Europe, Asia

    Apple to raise App Store prices in some countries in Europe, Asia

    Apple Inc said on Tuesday it will raise prices of apps and in-app purchases on its App Store from next month in all of the euro zone and some countries in Asia and South America.

    The new prices, excluding auto-renewable subscriptions, will be effective as early as Oct. 5, Apple said in a blog post.

    The U.S. tech giant periodically adjusts its prices in different regions and reduced prices for euro zone countries last year to adjust for currencies and taxes,dropping starting prices for many apps to 99 euro cents from 1.09 euros.

    The latest price rise increases those starting prices to 1.19 euros.

    A rapid rise in inflation, interest rates and energy prices this year has hammered the yen, the euro and most emerging economy currencies. The euro has dropped to two-decade lows this year and has been languishing around parity against the dollar for weeks.

    Apart from euro zone countries, the price increases will hit Sweden and Poland in Europe; Japan, Malaysia, Pakistan, South Korea and Vietnam in Asia; and Chile in South America.

    For some countries like Vietnam, the price increase was due to new regulations relating to collecting tax from consumers, Apple said.

    Apple, which launched its latest generation of iPhones earlier this month, has been developing its services business to reduce dependency on its mainstay smartphones.

    Revenue from Apple’s services business, which includes the App Store, has been growing at a rapid pace in the last few years and now hovers around $20 billion per quarter.

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  • Qualcomm and Apple team up to allow iPhone 14 line to reach for the sky

    Qualcomm and Apple team up to allow iPhone 14 line to reach for the sky

    Perhaps not as exciting to the average consumer as the Dynamic Island appears to be, Apple added satellite connectivity to all four iPhone 14 models. The feature will allow users to send out emergency messages even when they are out of cellular or Wi-Fi range. While this writer is guilty of this too, perhaps we should be more excited about satellite connectivity than how Apple made the notch useful.

    So what chips did Apple add to the iPhone 14 series to make satellite connectivity possible? Citing a breakdown of the iPhone 14 Pro Max conducted by iFixit, and a statement from Apple, Reuters revealed that the Qualcomm Snapdragon X65 modem chip does double duty on the phones. Not only does the chip help iPhone 14 series users connect with 5G signals, but it also works with band n53. The latter is the radio band used by Globalstar satellites.

    Earlier this year, in a deal typical of Apple, the company agreed to take up to 85% of Globalstar’s satellite transmission capacity for the iPhone 14’s emergency satellite messaging system.
    Yesterday, Apple said that the new models also sport proprietary Apple hardware and software to help the satellite messaging feature do its job. “iPhone 14 includes custom radio frequency components, and new software designed entirely by Apple, that together enables Emergency SOS via satellite on new iPhone 14 models,” the tech giant said.

    To use the new feature, hold your iPhone 14 unit as you would normally hold the device making sure it isn’t in a pocket or backpack. You don’t have to hold it up to the sky. Make sure that you are outdoors with a clear view of the sky and the horizon. Apple wants you to watch out for trees since those with “light foliage” can slow down the signals and those with “dense foliage” can block it completely.

    Also capable of blocking satellite signals are hills or mountains, canyons, and tall structures. And if you need to turn left or right, directions on your iPhone’s screen will tell you what to do. Once you’re connected to a satellite, your handset will maintain this connection even if the screen is locked.
    Apple suggests that in an emergency, you should first try to call for help. If you can’t get a call to go through, tap on Emergency Text via Satellite. You’ll be asked some questions about the emergency. Your message is sent to an emergency dispatch center where the appropriate help is ordered. Emergency SOS via Satellite will launch in November following an update to iOS 16.
    Interestingly, Apple was planning to design its own modem chip and use it in 80% of the 2023 iPhone handsets. But Qualcomm put the kibosh on these plans thanks to a couple of its patents. So as we wrote back in July, “Qualcomm will now supply Apple with 100% of the 5G modems for the 2023 iPhone 15 line leaving Apple with a bad taste in its mouth.”
    Keep in mind that Apple spent $1 billion, a large sum for Apple to spend on a single acquisition, to purchase Intel’s smartphone modem business. Additionally, after Apple reached a settlement with Qualcomm allowing all legal action between the pair to be dropped, it was assumed that Apple would continue to use Qualcomm’s Snapdragon 5G modem chips for a few years while designing its in-house component.
    This plan seemed all ready to go into action until Apple reportedly ran into a couple of Qualcomm patents that block the company from completing its journey. Apple even asked the Supreme Court to hear its argument on why these two patents should be canceled, but SCOTUS denied Apple’s request.
    Right now, Qualcomm is sitting in the catbird’s seat. Unless Apple can discover a way around the aforementioned patents, Qualcomm will continue to supply Apple with 5G modems for the iPhone for the foreseeable future. It’s widely believed that Qualcomm delivers the best 5G modems for smartphones.
  • Apple to open 4th retail store in South Korea this month

    Apple to open 4th retail store in South Korea this month

    Apple has announced plans to open its fourth retail store in South Korea on 24 September, Yonhap news agency reports. The new store will be dubbed ‘Apple Jamsil’, and will be located at Lotte World Mall in Seoul’s southeastern neighborhood of Jamsil.

  • Apple announces iOS 16 release date and it’s nearly here

    Apple announces iOS 16 release date and it’s nearly here

    The highlights of iOS 16 are new customization features and more convenient ways to communicate with others. The Lock Screen can now be personalized with widgets that quickly let you see information like the date, time, weather, and alarm; images, and customized font styles. There is also a super helpful Live Activities feature that will let you keep track of activities like food orders in real-time from Lock Screen.

    You will also be able to set up a shared library to make it easier for multiple people to share images from the camera automatically but the iCloud Shared Photo Library feature has been delayed for now.

    Another useful iOS 16 feature is the ability to edit a sent message so that you won’t have to add countless asterisks or explain what you actually meant and it will also be possible to unsend a recent message. You will also be able to mark a message as unread if you plan to get back to it later.
    You will also be able to collaborate with people on stuff like notes and presentations through messages and Apple also says it has improved mail search.
    iOS 16 will also make it easier to copy video text and lift a subject from an image. It will also be a breeze to switch between voice and touch to enter text. The Health app now has a new Medications feature to help you manage medications.
    There is also a Safety Check feature to help people in toxic relationships revoke the access they had granted to abusive partners.
    The change that caused the most stir online is the return of battery percentage to the status bar.
    Only the iPhone 8 and newer models are eligible for the iOS 16 update. You will be informed once it becomes available.
  • Filings in multiple countries reveal possible name for Apple’s mixed-reality headset

    Filings in multiple countries reveal possible name for Apple’s mixed-reality headset

    Apple’s AR/VR mixed-reality headset is now at the point where there is always speculation that the device will be introduced at the next Apple event. For example, on September 7th, Apple will introduce the iPhone 14 range, the new Apple Watch Series 8 models, and more. Some tipsters have said that Apple’s expensive $2,000-$2,500 headset will show up at the upcoming event during a “One more thing..,” moment.
    Perhaps the biggest reason not to expect that to happen comes from the man who knows so much about what is going on at Apple, he can tell you what the soup of the day will be in the company cafeteria a year from today. Of course, we are talking about TF International’s Ming-Chi Kuo. The reliable analyst says that Apple will lift the curtains on the product during an event in January.
    Apple could be deciding among several possible names for the headset. Using a process that the tech giant has employed before, possible names for the device were filed by law firms used by Apple in the past to protect the names of its devices. In the U.S., EU, U.K., Canada, Australia, New Zealand, Saudi Arabia, Costa Rica, and Uruguay, the Apple-related law firms filed applications for “Reality One,” “Reality Pro” and “Reality Processor.”

    Bloomberg discovered that the three trademarks were filed with a shell company called Immersive Health Solutions LLC, just incorporated this past February. That company in turn was registered by another shell corporation named the Corporation Trust Company. Apple’s RealityOS trademark was applied for by the same firm. That happens to be the expected name of the operating system Apple developed for its mixed-reality headset and the AR Apple Glasses.

    While January 2023 is still months away, the headset is supposedly having issues with the camera sensor and with software. The device is also overheating in testing. The product has a codename of N301 and a sequel model is said to have a codename of N602. The AR glasses, which many feel will be Apple’s next big thing, have a codename of N421 although both the sequel AR/VR headset and the AR glasses both might not be ready for years.

    The “Reality One” and “Reality Pro” names could indicate that Apple will release two different variants of the headset including a premium “Pro” version that will have more features and cost more money. The “Reality Processor” name could refer to the M2 Apple Silicon chipset that will power the headset. The device is expected to come with 16GB of RAM and will run VR versions of some Apple apps like Maps and FaceTime.
    The device will allow users to play games with other headset wearers and Apple will focus on providing streaming content for the headset including movies and games. In case you’re not familiar with Virtual Reality (VR), it allows the headset wearer to interact with a world that is not real. Augmented reality (AR) takes a real-life feed and superimposes a layer of data over it.
    A good example of AR is Google Maps Live View which can be used when using walking directions. The phone’s rear camera delivers a live feed while arrows are overlaid on that feed to show you the direction to walk. In addition, landmarks are named on the screen. Apple has already disseminated its RealityKit to developers to help them build AR apps for the headset.
    With Apple about to unveil its next iteration of the iPhone with the iPhone 14 series, the company might not want to have its new handsets share the spotlight with the long-awaited mixed-platform headset. So if you’re dying to own Apple’s next big thing, you’ll have to wait five months before this product sees the light of day. But all of this waiting will make the actual unveiling much sweeter, right?
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  • iPhone sales more than double in Q2

    iPhone sales more than double in Q2

    iPhone increased its market share in Vietnam to 15.4% in the second quarter from 7.1% a year earlier to become the third largest seller in the country.

    Its year-on-year growth of 115% was the highest among all manufacturers, Hong Kong company Counterpoint Research said in a report.

    Sales from 230,000 devices in Q2/2021 to nearly 500,000. But overall smartphone sales fell by 0.9% to 3.2 million units.

    Apple was behind Samsung (38.4% share) and Oppo (20.7%), but surpassed Xiaomi (13.2%) and Vivo (4.4%).

    Vietnamese buyers’ preference for high-end devices and price cuts on older iPhone models drove Apple’s sales up, with two of its products being best-sellers, the report said.

    “The premium price band (>US$400) grew by around 75% year-on-year driven by the iPhone 11, iPhone 13 Pro Max and Galaxy S series,” Counterpoint analyst Akash Jatwala said.

    Apple also increased the number of its stores in Vietnam via official distributors, helping further expand its customer reach as offline remains the key sales channel in the market.

    Vietnam is one of the emerging markets with “very strong double-digit growth” that have contributed to the company’s success in the second quarter of 2022, Apple CEO Tim Cook said recently.

    Xa Que Nguyen, CEO of smartphone store chain Hnam Mobile, said: “This is not surprising as Apple is paying more attention to Vietnam. Second quarters are normally low seasons, but Apple’s price drops have stimulated demand.”

    The Counterpoint report had “moderate expectations” of Vietnam since demand could be affected by macro issues and consumer preference could shift to other essentials.

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  • Ex-Apple engineer pleads guilty to stealing documentation about the Apple Car

    Ex-Apple engineer pleads guilty to stealing documentation about the Apple Car

    A former Apple employee by the name of Xiaolang Zhang, who was arrested by federal agents in July 2018 just as he was about to board a flight from San Jose to China, pleaded guilty yesterday in federal court in San Jose. Zhang was charged with stealing computer files that contained secrets about Apple’s hush-hush car division. Zhang faces a sentence of up to 10 years in prison and a $250,000 fine.
    The sentencing is scheduled to take place on November 14th. Apple claimed that Zhang downloaded an internal 25-page document that contained engineering schematics of a circuit board for a self-driving vehicle. He is alleged to have taken reference manuals and PDFs that featured descriptions of Apple’s automotive prototypes and prototype requirements. He had worked for Apple from 2015 to the time of his arrest and his last position with the company was as a hardware engineer on the team developing Apple’s self-driving car.
    Even after four years have gone by since Zhang was busted at San Jose airport, Apple has remained tight-lipped about the division developing its autonomous electric car. In the charging documents created by the FBI back in 2018, it says that 5,000 Apple employees knew about the project at the time, and that 2,700 had access to project materials and databases.
    Internal software used by Apple helps the company keep track of the employees who know about a certain project and they are forced to take in-person secrecy training according to the complaint filed with the court.

    Zhang originally took paternity leave and traveled to China, but Apple started to smell a rat when he returned from the country and quit. He said that he needed to return to China to take care of his mother. Zhang did tell Apple that he was going to work for Chinese electric vehicle company Xmotors and a suspicious Apple immediately blocked his access to Apple’s network.

    But Apple made this move after Zhang had accessed company databases to download documents and information. He was also caught red-handed (no pun intended) by Apple’s closed-circuit television system removing circuit boards and a Linux server from the lab.
    Zhang isn’t the only former Apple employee who tried to peddle secrets from Apple’s car division. Jizhong Chen is accused of stealing trade secrets from Apple’s car division in early 2019. A U.S. citizen, Chen was also planning on traveling to China. While he is represented by the same attorney defending Zhang, unlike the latter, Chen has yet to plead guilty and a trial date has not been scheduled.
    While things seem a bit slow at Apple’s car division, you know, with the new iPhone 14 series just a couple of weeks away from being announced, last month there was some news. With rumors circulating that Apple had decided to give up on the project, the company reportedly hired 20-year industry veteran Luigi Taraborrelli to lead the team designing the vehicle.
    At Lamborghini, Taraborrelli was in charge of chassis and vehicle dynamics working on such models as the Urus, Huracan, Aventador, and the off-road Huracan Sterrato. He also did some work on the Asterion concept car. Earlier this year, there was speculation that Apple is developing an operating system designed just for the Apple Car that would control important functions such as navigation and lane control, Apple Music integration, and air conditioning.
  • Apple supplier eyes $300-mln plant in northern Vietnam

    Apple supplier eyes $300-mln plant in northern Vietnam

    Apple supplier Foxconn has leased 50.5 hectares of land in the northern province of Bac Giang and plans to set up a $300-million factory there.

    The plant will employ 30,000 people, according to a statement of industrial property developer Kinh Bac City, which manages Quang Chau Industrial Park where Foxconn eyes to make its investment.

    Foxconn and another Apple supplier, Luxshare Precision Industry, have started test production of the Apple Watch and MacBook in northern Vietnam and plan to produce them for the first time in the country.

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  • Apple suppliers to make Apple Watch and MacBook in Vietnam

    Apple suppliers to make Apple Watch and MacBook in Vietnam

    Apple’s suppliers are in talks to produce Apple Watch and MacBook in Vietnam for the first time, Nikkei Asia reported on Tuesday, citing people familiar with the matter.

    Apple’s Chinese suppliers Luxshare Precision Industry and iPhone assembler Foxconn have started test production of Apple Watch and MacBook in Northern Vietnam, the report added.

    Apple has been shifting some areas of iPhone production from China to other markets, including India, where it started manufacturing iPhone 13 this year, and is also planning to assemble iPad tablets.

    India, the world’s second-biggest smartphone market, along with countries such as Mexico and Vietnam are becoming increasingly important to contract manufacturers supplying American brands, as they try to diversify production away from China.

    Apple, Foxconn and Luxshare Precision did not immediately respond to a Reuters request for comment.

    Last week, Taiwanese contract manufacturer Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom.

    Like other global manufacturers, Foxconn – formally called Hon Hai Precision Industry Co Ltd – has dealt with a severe shortage of chips that hurt production, as bottlenecks from the pandemic lingered and the Ukraine war further strained logistical channels.

  • With iPhone 14 coming soon, Apple changes the focus of its television advertising

    With iPhone 14 coming soon, Apple changes the focus of its television advertising

    Apple’s Services unit is the company’s second-largest business segment after iPhone. With nearly $20 billion in revenue during the fiscal third quarter, the unit is running at close to an $80 billion annual rate. One of the less-heralded but brilliant moves made during the Tim Cook era was to take advantage of the large number of active iPhones around the world and sell their users recurring monthly subscriptions that bring in revenue 12 times a year.
    Apple Services includes Apple Music, Apple News+, Apple TV+, Fitness+, iCloud, and Apple Arcade. Those services charge monthly subscription rates. Other Apple services that are part of the unit include the App Store, Apple Pay, Apple Care+, and more.
    With the unveiling of the new iPhone 14 line approximately four weeks away, Apple has apparently decided that now isn’t the time to advertise the iPhone 13 series with the world waiting for the 2022 handsets to be introduced. In other words, Apple wouldn’t be getting the same bang for the advertising buck with many potential buyers waiting for the new line to be announced.
    So today Apple released its latest television ad, a thirty-second spot for Apple One. In 2020, Apple created the Apple One bundle which has three separate tiers of service. These are the Individual Plan, the Family Plan, and the Premier Plan.
    Individual Plan-$14.95 per month (saves $6/month)
    • Apple Music
    • Apple TV+
    • Apple Arcade
    • 50GB of iCloud storage
    Family Plan-$19.95 per month (saves $8/month; can be shared with five other people)
    • Apple Music
    • Apple TV+
    • Apple Arcade
    • 200GB of iCloud storage
    Premier Plan-$29.95 per month (saves $25/month, can be shared with five other people)
    • Apple Music
    • Apple TV+
    • Apple Arcade
    • 2TB of iCloud storage
    • News+
    • Fitness+
    The new ad shows off the services inside the bundle. Apple Music is mentioned first and the music streamer includes surround sound. The 3D Spatial Audio feature allows you to hear music that sounds like it is coming from all around you. Next is Fitness+, which is only part of the most expensive Premier plan although it can be subscribed to a la carte ($7.99/month, $79.99/year). Fitness+ offers workout videos that cover 11 different styles. While you are working out, the screen will show your heart rate along with other metrics related to your workout.
    Like Apple Music, TV+ is available on all three tiers of Apple One. The new ad points out that with TV+ you can see the biggest stars just as the screen quickly shows Jennifer Aniston and  Reese Witherspoon (The Morning Show) and Tom Hanks (various films). News+ is also found only on the highest-priced Premier tier of Apple One and includes the best publications on Earth, according to Apple.
    Apple Arcade is also available on all three tiers of the Apple One bundle and features over 200 ad-free games. Also on all three tiers is cloud storage service iCloud. Apple says that with iCloud, you can store everything that you love. Note, however, that the amount of available storage depends on the plan you purchase. The individual plan comes with 50GB of cloud storage, rising to 200GB with the Family Plan. And with Premier, you get a whopping 2TB of cloud storage.

    If you’re already subscribed to some of Apple’s recurring subscription services, you might be able to save some money by signing up for Apple One instead. With the Premier tier, you can save as much as $25 per month by going with the bundle. You can start with a one-month trial of Apple One. From your iPhone, tap on Settings and then your name. Go to subscriptions and tap on the Apple One box. That will take you to the sign-in page and at the bottom of the screen you will see a blue button that says “Start Free Trial.”

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  • Apple appoints first ever Vietnam country manager

    Apple appoints first ever Vietnam country manager

    Nguyen Thai Hai Van has been appointed the first Country Director of Apple Vietnam, a source has confirmed.

    While no official announcement has been made, Van’s LinkedIn profile says without disclosing details that she has been holding the post since May, 2022; and some of Apple’s authorized retailers told VnExpress that they have been working with Van in the new role.

    Van recently resigned as managing director of Grab Vietnam. Earlier, she was marketing vice president at Unilever Vietnam.

    Insiders consider the appointment a move to expand the U.S. tech giant’s operations in Vietnam. Previously, its operations in the country were overseen by a regional director.

    Apple CEO Tim Cook has said that Vietnam was one of four emerging markets contributed to the company’s success in the second quarter of 2022.

    “We set June quarter records in the Americas in Europe and in the rest of Asia Pacific region. We also saw June quarter revenue records in both developed and emerging markets with very strong double-digit growth in Brazil, Indonesia and Vietnam and a near doubling of revenue in India,” Cook said during the company’s earnings call late July.

    There is no official Apple Store in Vietnam yet, and its products are distributed in the country via a network of authorized retailers.

    Apple is also recruiting for various positions for its Vietnam operations.

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  • Apple eases mask-wearing policy for corporate employees

    Apple eases mask-wearing policy for corporate employees

    Just when we thought we got rid of the whole COVID-19 craze, things started to get gloomy again. In the US new cases now clock at around 100,000 per day which is very far from ideal but strangely enough, Apple has decided to ease its mask-wearing policies for corporate employees.

    The company’s COVID-19 response team has sent an official email, stating that Apple will no longer require masks at most locations. “We are writing to share an update to our current protocols,” the email reads. “In light of current circumstances, wearing a face mask will no longer be required in most locations.”

    However, even though masks won’t be mandatory, employees will have the opportunity to keep on wearing them if they feel like doing so. “We recognize that everyone’s personal circumstances are different. Don’t hesitate to continue wearing a face mask if you feel more comfortable doing so. Also, please respect every individual’s decision to wear a mask or not,” the email continues.

    The new BA.5 COVID-19 variant is currently raging around the world, and in the US in particular, actually making San Francisco’s BART metro system bring back the mandatory mask regime. This variant is not only highly contagious, but it can evade immunity from vaccination shots and previous COVID infection.

    Apple has been quite polarizing in its COVID policies in the past couple of months, the company even threatened to fire employees if they don’t come back to work in the physical offices, then later softened up the requirement to at least three days per week, just to completely drop it a couple of weeks later.

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  • Apple will ‘soon’ inundate the App Store with more ads

    Apple will ‘soon’ inundate the App Store with more ads

    While Apple froze third-party advertising cookies on its platform, resulting in the first revenue dip of Facebook since its inception, the App Store application shop has been showing ads in its search results as well as the respective tab for a while now.
    Brace yourselves, because these ads are now coming throughout the App Store, starting with the Today homepage tab, but they could also appear on each individual app page in the You Might Also Like section. The advertisement will allow developers to be promoting their own apps and Apple its own stuff as it sees fit according to its own privacy ground rules.
    The visible ads will be denoted as such and Apple won’t be targeting users below eighteen for personalized advertising, plus it won’t employ granular targeting by using your sensitive data like the other two ad behemoths Facebook and Google. That’s all part of Apple’s privacy and transparency policy, as it said in a dedicated statement:
    Apple Search Ads provides opportunities for developers of all sizes to grow their business. Like our other advertising offerings, these new ad placements are built upon the same foundation—they will only contain content from apps’ approved App Store product pages, and will adhere to the same rigorous privacy standards.

    App Store developers are also happy with the ad development, as Ron Schneidermann of the app AllTrails states that “Apple Search Ads helped us attract new, more engaged customers across markets. We rely on Apple Search Ads for cost-effective customer acquisition – it’s a critical component of our growth strategy. As they become available, we plan to invest in new placements to reach even more customers on the App Store and continue to drive our business growth.”

    As for when will the new App Store advertising spree happen in earnest, Apple only said that the ad locations are now in their alpha state and it will “soon” start rolling out the testing phase, so don’t be surprised if ads appear on your iPhone application store in tabs where there were none of those pesky little nuggets were present before Apple’s move.
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  • Apple forecasts faster sales growth, despite glum economy

    Apple forecasts faster sales growth, despite glum economy

    Apple on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead.

    The Silicon Valley giant’s shares rose 3.5% after hours following the release of the results.

    Though macroeconomic indicators around the world are turning negative, Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones, the company’s biggest source of revenue.

    Phone sales in the fiscal third quarter rose 3% to $40.7 billion, when Wall Street had braced for a 3% decline. By contrast, the overall global smartphone market dropped 9% during the just-ended quarter, according to Canalys data.

    Apple’s loyal and relatively affluent customer base has enabled it to weather consumer spending dips better than other brands in the past, and the company’s latest quarterly results suggest a similar pattern emerging.

    Canalys Research analyst Runar Bjorhovde said, “Apple in that sense has a certain robustness that will allow it to be impacted less than a lot of its competitors.”

    The slumping economy is hurting sales of advertising, accessories and home products, Apple’s Maestri said in an interview, calling the units “pockets of weakness.”

    “Fortunately, we have a very broad portfolio, so we know we’re going to be able to navigate that,” he added.

    The results show Apple’s advertising business, which includes selling ads alongside news articles and app store search results, is vulnerable to marketing cuts just the same as rivals Snap and Meta Platforms.

    Parts shortages will continue to hamper Mac and iPad sales, Maestri said, though the impact has been easing. They cost Apple under $4 billion in sales in the quarter ended June 25, less than it had forecast. Maestri said the company expects the hit to diminish further in the current quarter.

    But Apple risks joining rivals in amassing an unsellable stockpile of tablets and PCs if more customers than expected hold off purchases due to rising inflation and interest rates.

    “In terms of testing the demand, you can’t really test the demand unless you have the supply,” Apple Chief Executive Tim Cook told analysts on Thursday. “And we were so far from that last quarter that we have an estimate of what we believe demand was. But it is an estimate.”