BUSINESS

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Luxury carmaker Rolls-Royce has announced a significant expansion of its Goodwood factory in West Sussex, pledging over $371 million to meet soaring demand for its bespoke models.

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Apple lost its position as the best-selling smartphone brand in China last year, according to new data released Thursday, as two local rivals, Huawei and Vivo, surpassed the tech giant with increasing shipments. Industry data provider Canalys reports that Apple held a 15 percent market share in China, trailing behind Huawei's 16 percent and Vivo's leading 17 percent.

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Shoppers in China are enjoying rare discounts on Apple's flagship iPhones, signaling the tech giant's response to growing competition and shifting consumer habits. From January 4, Apple launched a four-day promotion, offering discounts of up to 500 yuan ($68.50) on its newest models, including the iPhone 16 Pro and Pro Max.

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Tesla's full-year auto sales fell short of the company's forecast, as reported Thursday, indicating increased competition in the electric vehicle market, particularly in China. While the company achieved a record 495,570 deliveries in the fourth quarter, it missed Wall Street expectations, resulting in a full-year total of just under 1.8 million vehicles, approximately one percent lower than 2023 sales, despite a previous projection of "slight growth."