A Chinese company will introduce its own electric car in the US market, and iPhone sales see decline in India.
George H.W. Bush secretly sponsored a boy in Philippines
Former US President George H.W. Bush secretly sponsored the education of a boy from the Philippines for ten years, a nonprofit organisation revealed.
Through Compassion International, Bush sponsored Timothy’s education, extracurricular activities and some of his meals, reported CNN.
Bush first got the idea of sponsoring the child in 2001 after attending a Christmas concert in Washington, said the report.
According to Wess Stafford, former president of Compassion International, during the concert, musicians asked the audience “if they would like to sponsor a child”. Bush, who was sitting “only a few rows back” at the Washington event, raised his hand suddenly and asked for a pamphlet.
Stafford said, “His top security called me and said ‘this doesn’t surprise me coming from him, but if he’s going to sponsor this kid, we need to make sure the boy doesn’t know who his sponsor is.’ So, he signed all his letters to Timothy as ‘George Walker.”
CNN assessed the letters Bush used to write to Timothy — starting from 2002 onward.
Stafford said, “His letters were the most sweet, spirited letters I have read from any sponsor, but he kept giving hints as to who he could be.”
China to sell its own electric car in US market
Chinese manufacturers have been selling their cars in the US market under established brands, but Qiantu Motor is set to change that bit of history, reported Quartz.
For the first time, a Chinese automaker will be selling its own vehicle in US. The company recently announced plans of making its own K50 electric vehicle (EV) in 2020.
The report said that if Qiantu Motors is successful in capturing the US market, it would be a challenge to Elon Musk’s Tesla.
Prices of the cars have not been revealed yet, but Qiantu is expected to target Tesla’s Roadster, Model S AND Model 3 vehicles. In addition, it may impact Tesla’s top position in the US sedan car market.
Apple’s iPhone sales see “a rout” in India
Smartphone makers are looking at the Indian market to make up for flat sales across the world. But India seems to be a failing market for Apple now.
In 2018 so far, Apple’s iPhones shipment to India fell over 40% compared to 2017, reported The Wall Street Journal.
Canalys estimates that Apple’s market share in India has dropped to about 1% from about 2%. Apple executives believe that not even half of the estimated target has been met.
An analyst at Canalys called the company’s performance a “rout”.
Compared to his bullish rhetoric earlier, Apple CEO Tim Cook seldom mentions Indian market’s potential now. However, last month, he told analysts that the long term looks “very, very strong”.
Apple introduced iPhone in India in 2008. Its sales in India jumped to over $1 billion in 2015 from $100 million in 2011.
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