Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
The disclosures come as a federal judge ruled Wednesday that two other banks — Deutsche Bank and Capital One — can give financial documents to Congress, NBC News reports.Politicsread more
Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and...Retailread more
If Apple ultimately decided to move production of its iPhone from China to the United States, it would be a "massive" undertaking, venture capitalist Gene Munster told CNBC on Monday.
The tech giant is facing potential tariffs as a result of the escalating trade war between the U.S. and China. On Monday, President Donald Trump suggested in an interview with The Wall Street Journal that he could place a 10 percent levy on iPhones and laptops imported from China.
Munster, managing partner of technology-focused firm Loup Ventures, said he was surprised by the president's statement. "[Apple CEO] Tim Cook has done a great job of trying to be in the good graces of Trump," he said on "Closing Bell. "
But if things escalated and Apple were to think about leaving China, Munster said, "it is probably easier to move the moon off its orbit than it is to shift iPhone production back to the U.S."
Trump has been pushing Apple to make its products in the U.S. instead of China. In September, he tweeted that prices may increase because of "massive tariffs" and urged the company to "start building new plants now" in the U.S.
However, Munster said it is easy to talk about but extremely hard to do.
"We're talking about something that would take five-plus years to do. There's near a million people, even with the cuts at Foxconn, that work on Apple products in China," he said.
In September, Bank of America Merrill Lynch said iPhone prices would rise significantly if the smartphone were assembled domestically. In a note to clients, analyst Wamsi Mohan said under the "most likely" scenario in which Apple moves 10 percent of its iPhone assembly to the U.S., the average selling price of the iPhone would rise by 9 percent. If it shifts 50 percent or 100 percent to the U.S., iPhone prices would increase by 14 percent and 20 percent, respectively.