Transcripts For BBCNEWS Asia Business Report 20240706 : comp

Transcripts For BBCNEWS Asia Business Report 20240706



reporting that it added million subscribers in the first three months of this year. that sounds like good news, doesn't it? last year the company lost subscribers the final six months. but, wall street was expecting it to have added 3 million subscribers. last year netflix reported not one, but two quarters where it lost customers. it was the first time the company has reported a loss in subscribers in ten years. these latest results show a gain in subscribers. that is good. but, it is actually much less then what investors were expecting. netflix have come up with a plan to try and crack down on password sharing. it was meant to roll out in this first quarter, but the company decided to hold back until the second quarter of the year. and to try to make up for lost subscribers last year, netflix created an ad funded streaming service which was cheaper, but subscribers would need to sit through adverts. if the company thought it left its woes in 2022, it seems that this earnings report does not seem like it has. samir hussein there. 25 years after it started selling products in india apple has finally launched its first physical retail store in the country. the boss tim cook inaugurated the store and financial capital moved a much fanfare. a second store will also be launched a second store will also be launched in new delhi on thursday. but why is apple opening stores now and why are they a big deal? our business correspondent explains. apple says hello goodbye. —— mumbai. amongst huge crowds and selfies and loyalists. the apple india story is 25 years old selling a range of products to thousands of its licensed premium resellers. but why is its story lodge such a big deal? it signals a shift in how apple views india. now a strategic market for the texturing. because of a growing customer base and boost from local manufacturing. apple has always been an aspirational brand. but out of reach for most indians. even now, i thoughts make up just 4% of the overall smartphone sales. comparing it to i% smartphone sales. comparing it to i% in smartphone sales. comparing it to i% in 2019 smartphone sales. comparing it to i% in 2019 shows the massive growth. it is not the most popular smartphone in the premium category. mil popular smartphone in the premium category. all this time in india we _ premium category. all this time in india we only _ premium category. all this time in india we only had _ premium category. all this time in india we only had two - premium category. all this time in india we only had two retail l in india we only had two retail stores never an apple source a better late than never.- stores never an apple source a better late than never. when we no to a better late than never. when we go to a reseller— better late than never. when we go to a reseller store _ better late than never. when we go to a reseller store they - go to a reseller store they don't _ go to a reseller store they don't provide a lot of products. here you get every colour_ products. here you get every colour which i have never seen. i have _ colour which i have never seen. i have to — colour which i have never seen. i have to see it in pictures, pink— i have to see it in pictures, pink colour ipad, this is what you — pink colour ipad, this is what you to — pink colour ipad, this is what you to see _ pink colour ipad, this is what you to see year.— you to see year. the retail ush you to see year. the retail push has _ you to see year. the retail push has been _ you to see year. the retail push has been aggressive | you to see year. the retail i push has been aggressive in you to see year. the retail - push has been aggressive in the world second largest smartphone market offering discounts and schemes and launching new phones in india.— phones in india. apple will -la the phones in india. apple will play the game _ phones in india. apple will play the game of - phones in india. apple will play the game of waiting l phones in india. apple will. play the game of waiting for the economy grow and powers to grow and therefore more customers will be able to afford their product. india is not 'ust afford their product. india is not just a — afford their product. india is notjust a market _ afford their product. india is not just a market to - afford their product. india is notjust a market to sell- not just a market to sell products, but make them as well. fitting well in apple's strategy to diversify assembly operations beyond china. it has been making phones since 2017 and today it's been making phones since 2017 and today its three main vendors which together employ some 60,000 workers locally produced almost 7% of the worlds iphones in india. apple exported a record $5 billion worth of iphones from india last year. production estimates provided by apple's suppliers to just the company could shift 12-18% of its to just the company could shift 12—18% of its total iphone assembly operations to india over the next few years. add to the production list, air pots, macbooks, apple pencils, ipads. if india becomes a much bigger market it would make more sense for apple to produce as much as it can in india. what is feasible there. in the process of doing so certain things can happen from china. it’s happen from china. it's complete _ happen from china. it's complete success - happen from china. it's complete success will l happen from china. it's complete success will depend on how much can it source confidence locally and reduce product costs as well. those apple stores in india come out of the company moves to diversify its source of revenue for its range of products like smartphones, laptops and personal computers in according to brian from the market intelligence firm, expanding in india is the right move as apple has a sizeable share of the premium market. this apple has a sizeable share of the premium market.- apple has a sizeable share of the premium market. this is a market that — the premium market. this is a market that is _ the premium market. this is a market that is already - the premium market. this is a market that is already the - market that is already the second—biggest smartphone market_ second—biggest smartphone market in the world. and even if apple's _ market in the world. and even if apple's market share is pretty— if apple's market share is pretty small, low single digit percentages from a total markets percentage. looking at the premium market, they have actually— the premium market, they have actually have about two thirds of that — actually have about two thirds of that market in india. so there _ of that market in india. so there is_ of that market in india. so there is that interest and it is a — there is that interest and it is a market that is expected to continue — is a market that is expected to continue to grow, despite all of the — continue to grow, despite all of the headwinds we have seen in the — of the headwinds we have seen in the global market. tim of the headwinds we have seen in the global market.— in the global market. tim cook was also in _ in the global market. tim cook was also in china _ in the global market. tim cook was also in china not _ in the global market. tim cook was also in china not that - in the global market. tim cook was also in china not that long| was also in china not that long ago. do you think this post to diversify away from china, will it continue and will india to continue to be one of the beneficiaries?— continue to be one of the beneficiaries? , ., ., , beneficiaries? the short answer is es beneficiaries? the short answer is yes not _ beneficiaries? the short answer is yes not just _ beneficiaries? the short answer is yes not just with _ beneficiaries? the short answer is yes not just with apple - beneficiaries? the short answer is yes not just with apple but i is yes not just with apple but with— is yes not just with apple but with most of the industry, and increasingly there is a trend and — increasingly there is a trend and desire to diversify outside of china _ and desire to diversify outside of china i_ and desire to diversify outside of china. i think that is obvious— of china. i think that is obvious why. why have all of your— obvious why. why have all of your eggs in one basket? given the political headwinds and even — the political headwinds and even for practical purposes, we have _ even for practical purposes, we have already seen in the pen to make _ have already seen in the pen to make and — have already seen in the pen to make and changes around that. so there — make and changes around that. so there is— make and changes around that. so there is that moment of happening. india is one beneficiary, not the only one, vietnam — beneficiary, not the only one, vietnam is _ beneficiary, not the only one, vietnam is another that comes up vietnam is another that comes up in _ vietnam is another that comes up in discussion and including, and there _ up in discussion and including, and there are a few others in latin— and there are a few others in latin america as well. but the indian — latin america as well. but the indian government has what they call a _ indian government has what they call a production linked incentive plan, they are trained _ incentive plan, they are trained to motivate more manufacturing locally through tax breaks and that sort of thing. _ tax breaks and that sort of thing. so _ tax breaks and that sort of thing, so we have already seen a good — thing, so we have already seen a good part of phones being assembled in india, including apple's — assembled in india, including apple's fault. but it is a bit harder— apple's fault. but it is a bit harder because you need the whole — harder because you need the whole component industry ecosystem to move with it. but not to — ecosystem to move with it. but not to say— ecosystem to move with it. but not to say apple will lead china _ not to say apple will lead china. china will still be a bil china. china will still be a big part _ china. china will still be a big part of its manufacturing process, _ big part of its manufacturing process, as he said tim cook was — process, as he said tim cook was already there and the government in china obviously would — government in china obviously would like to keep as much of the ecosystem there as possible. but as a whole, there will he — possible. but as a whole, there will he a — possible. but as a whole, there will be a bit of a rebalancing and some of that shift of the benefit — and some of that shift of the benefit to countries like india _ benefit to countries like india. �* , benefit to countries like india. 3 , . india. let's stay with the tech editor because _ india. let's stay with the tech editor because european - editor because european countries have reached a provisional agreement on a plan to boost a semiconductor industry to compete with the united states and asia. the deal was announced by sweden which currently leads the european council. the european ships act will involve billions of dollars worth of investment in the development and production of advanced semiconductors. the chips are used in a wide range of technological products from cars to phones to supercomputers and spacecraft. united airlines have reported a loss for the first three months of this year, but says, with summer travel around the corner things are looking up. let's bring in our business reporter katie who has been following the story. the travel industry has been rebounding since the reopening but not looking so goodin reopening but not looking so good in terms of the first quarter. good in terms of the first quarter-— good in terms of the first auarter. . �* , ., quarter. that's right. so from united airlines, _ quarter. that's right. so from united airlines, they - quarter. that's right. so from united airlines, they said - quarter. that's right. so from| united airlines, they said they are bullish for the rest of the year same from april onwards they should see a huge surge in demand and as a result of this we have seen shares up about 1.5% in after—hours trading. but yes, things were not as goodin but yes, things were not as good in the first three months of this year. the airline reported in almost $200 million loss which sounds like a lot, but it is far smaller than at the same time last year where they reported a $1.1; billion loss. so it does show that some things are looking up. in terms of what drove this loss, a couple of things, first, higher food rule —— fuel cost. the war in ukraine has done havoc to the energy market and we have seen the price ofjet fuel skyrocket. the other element is that of labour costs. so many airlines let off staff during the pandemic and put them on more for him contracts and now having to pay a premium in order to keep the staff back. something driving up profit for airlines is that they are saying that they are getting more money per seat sold. so as we have been seen, anyone flying recently will tell you that there is far fewer spare seats on a flight. part of this is because we are seeing airline, aircraft that were out of the commission during the pandemic, a tighter aircraft capacity that meaning seats are at a premium, fewerflights then driving up profit margins. as a result the united states are likely to see profits going forward from april this year, similar remarks were made by delta and american airlines over the last couple of weeks. here in terms of this region we are seeing is well increased costs. higherthe are seeing is well increased costs. higher the online search providerforflight sing cost provider for flight sing cost between providerforflight sing cost between australia and london are more than 50% before the pandemic question is are they here to stay. that is what many of us are watching for.- of us are watching for. thank ou so of us are watching for. thank you so much _ of us are watching for. thank you so much for— of us are watching for. thank you so much for that - of us are watching for. thank you so much for that update. with that we ended this edition of asia business report. i will be back with newsday at the top of the hour. of course you can watch and see all of the latest stories on our website so do check that out. but for now thank you so much watching. birkenhead park has always been at the heart of the community. from royal visits to rugby games. and today it's in the running to be a unesco world heritage site. birkenhead park was the world's first publicly funded park. it opened its gates in 1847, and since then has become the blueprint for green spaces around the world, most famously for new york's central park. and today, this green space welcomes around two million visitors every year. we do get visitors coming from all over the world because of its links with central park. we want people to come in on the cruise ships, come to the park and see what we've got here, because i know central park's probably ten times bigger than this. but we're special. we're a little oasis in the middle of what's a concrete jungle. we used to come when we were young. now we're not quite as young. we got the kids, the grandkids. they're all here now and we love it. other sites shortlisted for the honour include york city centre and a collection of iron age settlements in shetland. there are 33 unesco sites in the uk, two in the north—west — jodrell bank and the lake district national park and birkenhead park is hoping to join them on the prestigious list, which recognises cultural, historical or scientific significance. the most talked about and was viewed story on our our website. 0ur colleagues in bbc scotland first picked up the story back in october. that is when miranda dixon first got an enforcement notice from edinburgh city council telling her to repaint her front door, which as you can see is this rather vibrant pink colour. in the past couple of days she has finally complied with that notice after failing to fight it. she has painted it a sage green colour. still quite vibrant. that is because miranda dixon has claimed there are other doors in her street that in this historic part of edinburgh that are alsojust as vibrant. she sent the bbc these pictures of other doors and her neighbourhood, you have got bright yellows, bright reds, bright blues. all this stems from the issue of conservation. in fact, the end of the city council provided these guidelines on which show homeowners what colours to paint their doors to keep everything in the traditional style. you may notice that there is a pink door there on the website. however, edinburgh city council claims that this is a much more muted colour that the colour that randall ended up painting her door. they say the colour was not in keeping with the historic character. but something that they think door is in keeping with is miranda's style. you can see here the inside of her house is covered with pink — pink curtains, a pink bathtub, she has got pink hair. check out this amazing hot pink carpet inside her town house there. however, she has been forced to comply with the regulations for now. butjudging by the international attention the story is getting, this may not be the last to hear of pink door lady. hello, i'm paul scott, from the bbc sport centre. coming up on this programme... the real deal: holders real madrid reach the champions league semi—finals at the expense of chelsea. manchester city are given some welcome news ahead of their second leg against bayern munich on wednesday. and buffalo bills player damar hamlin has been cleared to return to play in the nfl, four months after suffering a cardiac arrest on the field.

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