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Apple reveals the first fall in annual revenues since 2001 as iPhone | :00:15. | :00:24. | |
sales slow. And traditional art with a modern twist. We take a look at | :00:25. | :00:30. | |
how this Indian start-up took on a risky venture. Good morning, Asia. | :00:31. | :00:40. | |
Hello, world. It's Wednesday and I'm glad you could join us for this | :00:41. | :00:46. | |
edition of Asia Business Report. We start with Apple and the technology | :00:47. | :00:51. | |
giant's earnings have left investors with a slightly bitter taste. It | :00:52. | :00:55. | |
sold more iPhones than expected that they were still down for the third | :00:56. | :01:00. | |
quarter in a row. Shares falling in trading in New York. | :01:01. | :01:06. | |
It is indeed a difficult environment for anyone really selling iPhones | :01:07. | :01:14. | |
or, rather, any sort of smart phone. The two headlines he really are that | :01:15. | :01:18. | |
we are seeing there is a slowdown happening in both China and the US | :01:19. | :01:24. | |
in terms of sales for Apple. Those are really to make big markets for | :01:25. | :01:30. | |
them. Concern a slowdown in sales there is not good. Also the iPhone | :01:31. | :01:36. | |
is the East and the fact we are seeing declining sales for the | :01:37. | :01:39. | |
iPhone that is somewhat worrying for investors. Indeed, revenue from | :01:40. | :01:47. | |
greater China which is supposedly apple's next growth engine fell by | :01:48. | :01:51. | |
around 30%. But a lot of analysts are saying that Apple's iPhone could | :01:52. | :01:59. | |
gain some traction with the problems of Samsung this quarter. That is | :02:00. | :02:04. | |
right and that is what some people are expecting. These results don't | :02:05. | :02:09. | |
include the new iPhone 7 so the upgraded version that was released | :02:10. | :02:14. | |
in September. In the next three months we will see those sales | :02:15. | :02:18. | |
really reflected in the next earnings. And also, remember, the | :02:19. | :02:22. | |
next three months will include two really big shopping season is here | :02:23. | :02:26. | |
in the US, you have Christmas and you have Thanksgiving. And if you | :02:27. | :02:30. | |
look at the forecast for Apple, they are predicting that winter will be | :02:31. | :02:37. | |
really profitable for the company. Chinese smartphone Manufacturer 's | :02:38. | :02:40. | |
have emerged as a major competitor to Apple in recent years and one of | :02:41. | :02:50. | |
them is Shao Ming. Are they hoping to continue to take market share | :02:51. | :02:58. | |
from Apple and Samsung following the exploding battery scandal? We have | :02:59. | :03:04. | |
been a very innovative company for the last 6.5 years since our | :03:05. | :03:09. | |
inception here in Asia. Our mantra is innovation for everyone so of | :03:10. | :03:12. | |
course we are charging ahead full speed with the most innovative | :03:13. | :03:17. | |
technology we can come up with. We just announced yesterday a product | :03:18. | :03:20. | |
which seems to have caught the world by surprise. It is an ageless design | :03:21. | :03:25. | |
phone which I think speaks the language we want the everyone to | :03:26. | :03:28. | |
hear. We are doing amazing musings from over here. You mentioned | :03:29. | :03:35. | |
earlier that it was the amino to two and you say that it is taking the | :03:36. | :03:39. | |
world by surprise and also taking a lot of smart phone watches by | :03:40. | :03:44. | |
surprise because they say there is a striking similarity to the Galaxy | :03:45. | :03:48. | |
notes seven. To think that I would say. First of all the designer we | :03:49. | :03:59. | |
have introduced with our Mi note series proceeds of the curve design | :04:00. | :04:05. | |
features of the product you are talking about. We were the first | :04:06. | :04:09. | |
ones to do it. We were the first ones to have curbed glass design in | :04:10. | :04:13. | |
our phone. This was well before any other player tried the same design. | :04:14. | :04:17. | |
What we are doing now is we introducing a curved display on the | :04:18. | :04:23. | |
front which is based on flexible OLED. There is really only way you | :04:24. | :04:27. | |
can ever curved display and we are the second major player to | :04:28. | :04:30. | |
incorporate that design. You will likely see other device makers as | :04:31. | :04:35. | |
well as they advance their designs. I am sure that Samsung would | :04:36. | :04:38. | |
disagree because they came up with their own curved design before the | :04:39. | :04:44. | |
Mi note series. And a lot of critics are saying that there is not enough | :04:45. | :04:48. | |
innovation and there is a lot of design duplication among the Chinese | :04:49. | :04:53. | |
smartphone makers. I would say, I will bring a device into the camera | :04:54. | :05:03. | |
frame here. This is MiMix. The world's first phone with an ageless | :05:04. | :05:07. | |
design. There is nothing on the top of the fire screen. This is what | :05:08. | :05:13. | |
caught the world by surprise yesterday. This sort of design is | :05:14. | :05:18. | |
what people were put into a deed dream territory and we announced | :05:19. | :05:22. | |
yesterday as a concept phone but one we are actually selling as well. | :05:23. | :05:25. | |
A decision has landed at last. The British government has announced | :05:26. | :05:33. | |
that it will be building a third runway at Heathrow to expand the | :05:34. | :05:38. | |
country's airport capacity. So what are the implications for Asian | :05:39. | :05:41. | |
travellers especially with the fall in the pound making the UK and | :05:42. | :05:45. | |
attractive travel destination. I put the question to Russell Young. It is | :05:46. | :05:52. | |
one of the ironies I guess of the initial fallout of the Brexit | :05:53. | :05:57. | |
announcement, looking at China, for example, in the months that followed | :05:58. | :06:01. | |
in July we saw an immediate 13% increase in inbound tourism into | :06:02. | :06:06. | |
London and that has been replicated across many of the major countries | :06:07. | :06:11. | |
across the Asia-Pacific region. Can this be sustained using going | :06:12. | :06:15. | |
forward? Is London really viewed as a hub for Asian travellers because | :06:16. | :06:20. | |
we are now seeing the alternate destinations, particularly in the | :06:21. | :06:25. | |
Middle East. I think that is a great point. The Middle East has emerged | :06:26. | :06:29. | |
as a major connection point in the last few years. It has seen rapid | :06:30. | :06:32. | |
expansion itself and has overtaken London in terms of overall visitor | :06:33. | :06:40. | |
numbers going from 78 million two 74 million going through London. | :06:41. | :06:43. | |
However, the expansion of London will take them into excess of 100 | :06:44. | :06:47. | |
million visitors per month and it still remains a major connection | :06:48. | :06:53. | |
point with Europe and North America. But for travellers overall it is | :06:54. | :06:56. | |
about accessibility and affordability and with the cheaper | :06:57. | :06:59. | |
British pound this is an advantage for them. Absolutely. In the current | :07:00. | :07:03. | |
climate there is a huge incentive to head to London, Heathrow will play a | :07:04. | :07:10. | |
key point in that. And also the accessibility to the rest of Europe. | :07:11. | :07:15. | |
That was Russell Young. India is full of colourful symbols and | :07:16. | :07:18. | |
distinctive icons but artists who want to give those images a modern | :07:19. | :07:23. | |
twist have very few places to display their right. One start-up is | :07:24. | :07:29. | |
bringing together urban artists and turning their designs into home and | :07:30. | :07:32. | |
lifestyle products. But changing the culture among its customers have not | :07:33. | :07:38. | |
been easy. They tell us more about start-up success. | :07:39. | :07:49. | |
It was inspired by the struggles of my wife who was creating art and | :07:50. | :07:57. | |
trying to sell the product. And I noticed that she had a lot of talent | :07:58. | :08:03. | |
but not a lot of business savvy. We are pleased where we can bring | :08:04. | :08:08. | |
artists together, take care of all the difficult stuff and financing, | :08:09. | :08:13. | |
building brands, production, printing, marketing and selling and | :08:14. | :08:17. | |
let graphic designers and artists focus on what they do well. When we | :08:18. | :08:23. | |
first started there was very little work out there. It was either | :08:24. | :08:27. | |
commercial work or you were sitting on your laptop or sketchbooks of | :08:28. | :08:33. | |
talented graphic artists and designers and sometimes you were | :08:34. | :08:38. | |
just find a that someone had done and you would be able to say hey, | :08:39. | :08:43. | |
that is somebody who we think should come onto the platform. We did a | :08:44. | :08:46. | |
survey of retail across the country and we found pretty much where we | :08:47. | :08:53. | |
would like to be. This means to be in front of people so we want to do | :08:54. | :09:00. | |
this on our own and our destination shop and destination kiosks in | :09:01. | :09:06. | |
addition to having a destination site online. Competing online in | :09:07. | :09:13. | |
India has been very difficult for the last couple of years and a lot | :09:14. | :09:18. | |
of that has to do with the heavy discounting. What happened as a | :09:19. | :09:25. | |
result is consumers a sort of looking at the Internet at a | :09:26. | :09:31. | |
discount channel. That's the sort of expectation that Indian is for me. | :09:32. | :09:39. | |
Now that it has been deemed to be tenable from an investment and | :09:40. | :09:42. | |
profitability standpoint for the top companies we are seeing discounts | :09:43. | :09:47. | |
reduced to some degree. This kind of art and design, there is no doubt | :09:48. | :09:56. | |
that the market is far more of old and ready to accept these. However | :09:57. | :10:00. | |
what really trying to create here is an entirely fresh visual identity of | :10:01. | :10:09. | |
India. Very interesting designs they are from Kulture Shop. Let's have a | :10:10. | :10:15. | |
quick look now at what is happening in the markets. They'll all trending | :10:16. | :10:20. | |
into negative territory. That is after the US retreated overnight. | :10:21. | :10:27. | |
Japan and Australia in the red. Thank you so much for investing your | :10:28. | :10:30. | |
time with us. Sport Today is coming up next. | :10:31. | :10:37. | |
Is bring you up-to-date with our main stories on BBC News. The UK | :10:38. | :10:45. | |
government has given the go-ahead for a third runway at Heathrow | :10:46. | :10:46. |