Business News

Late-afternoon sell-off steers US stocks toward…

A steep drop in Walmart's stock and losses in other sectors are pulling U.S. indexes broadly lower, placing the market on course to snap a six-day winning streak

Thanks to the iPhone X, Apple is beating Samsung…

While Apple has successfully beaten Samsung in the worldwide flagship smartphone market for years, there's always been one country that was impossible to crack: South Korea. Samsung is such a big part of the country -- the company's revenues make up about 17% of South Korea's total GDP -- that it's always been difficult to imagine Apple making real headway into Samsung's fortress. But according to data from market research firm Strategy Analytics, that's exactly what's happened. In Q4 2017 last year, the quarter in which the iPhone X went on sale, Apple's market share was up 3.3% to 28.3%, while Samsung was down a staggering 9% to record less than half the South Korean market, just 46.0%. Samsung's fall and Apple's rise isn't solely due to the iPhone X, of course. Apple opened its first store in South Korea last month, which will have made its presence more sharply felt than before, according to Business Korea: In 2017, Samsung Electronics accounted for 56.2 percent of the Korean smartphone market, followed by Apple with 17.7 percent and LG Electronics with 17.4 percent. In 2016, Samsung Electronics recorded a 55.0-percent market share, Apple, a 15.6-percent market share and LG Electronics, a 17.0-percent market share. "Apple Store, which opened in Korea last month for the first time, is expected to have Apple's presence felt more strongly in the Korean market," SA said. "We predict that LG Electronics will have an uphill battle, unless the company comes up with something innovative this year.” The report also suggests that discounted iPhone 6 and iPhone 6S models could have something to do with the turnaround: Wireless telecom carriers significantly lowered prices of older iPhone models such as the iPhone 6 and the iPhone 6S with an eye toward clearing inventories, the older iPhone models that became "mid- to low-priced phones" and therefore, their sales ballooned. A few percentage points changing in Apple's favor in a relatively small market isn't going to affect Apple's immediate financial outlook one way or another. But the data is interesting because it speaks to Apple's growing success in non-traditional markets, and it highlights how Samsung's brand power is slipping. Not only did Apple surge in Q4 2017, but so did LG, despite not launching any significant new phones. Those are all worrying signs for Samsung, which faces resurgent challenges from Google's new Pixel phone division, as well as the ever-present threat of Apple. Let's just hope the Galaxy S9 is everything that Samsung hopes it can be.

The Number One Thing People Do With Their Tax…

The number one thing people are doing with their tax refund. Elizabeth Keatinge has more.

Disney Reportedly Withholding Bonuses From Union…

The Walt Disney Co. is reportedly locked in contract negotiations with more than 35,000 Walt Disney World employees represented by unions.

Venezuela's digital coin makes debut

Venezuela is becoming the first country to launch its own version of bitcoin, a move it hopes will provide a much-needed boost to its credit-stricken economy

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Investors are winners as companies lay out…

The tax overhaul was sold by its backers as a way to help American workers, but a flurry of recent corporate announcements suggest the lion's share of tax savings will go to investors.

It's Not Your Eyes, This Starbucks Coffee Really…

A new Starbucks coffee drink creates a swirl of colors, but it might be difficult to get your hands on one!

EU to be 'intransigent' on Embraco - Calenda

Groups want details on Trump's approval of…

Opponents of the Keystone XL oil pipeline from Canada are asking a judge to force the U.S. government to turn over emails and other documents related to President Donald Trump's approval of the project

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Trump plan: Less health insurance for lower…

Latest Trump administration health care idea: less insurance for lower premiums

Special counsel files new charge in Russia probe

The special counsel investigating Russian interference in the 2016 election has charged an attorney with lying to federal investigators about his interactions with a former Trump campaign official.

Strong sales at Medtronic, but margins decline

Walmart's bruising battle with Amazon saps its 4Q…

Walmart is getting bruised in its battle with online leader Amazon

Preventive treatment for peanut allergies…

The first treatment to help prevent serious allergic reactions to peanuts may be on the way

India arrests 11 suspects in $1.8 billion bank…

India's federal investigating agency says it has arrested 11 people in an alleged $1.8 billion bank fraud that continued for six years

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Luxury property ad blitz heralds Trump son's…

The eldest son of President Donald Trump has arrived in India to help sell luxury apartments and lavish attention on Indians who have bought units in Trump-branded developments