As part of Anti-US demonstrations Apple stores picketed in China - Asdeenvibez | Nigeria's Best Music & Entertainment Website

As part of Anti-US demonstrations Apple stores picketed in China

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Apple found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm’s biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats.
A handful of unofficial Apple stores were picketed and social media users encouraged each other to destroy their Apple goods, in a rare instance of the tech firm being targeted as a symbol of perceived injustice following an international ruling against Chinese territorial claims.
Though the protest was small, observers have expressed concern about the impact on Apple in the long term, citing the roughly year-long slump in sales of Japanese cars after a diplomatic dispute that prompted large protests and boycotts.
“There’s not much Apple or any other foreign firm can do to prevent such patriotic protests,” said analyst Nicole Peng at researcher Canalys, who sees no impact to Apple’s sales from the recent protest. “These incidents happen every few years.”
Apple did not immediately respond to a request for comment.
China is the world’s biggest smartphone market and Apple is increasingly reliant on its growing middle class as it competes with domestic makers of cheaper phones such as Xiaomi and Huawei, in a climate of weakening consumer spending and slowing economic growth.
Adding to Apple’s challenges are brushes with regulators. Its online book and film service was blocked earlier this year, and last month its iPhone designs were ruled to have infringed a local firm’s patent.
Apple’s sales in China fell around 25 percent in January-March from the same period a year prior. On Tuesday, it is scheduled to announce April-June earnings that are widely expected to be lackluster due to a dearth of product launches
About a week later, on Tuesday, over 100 protesters picketed four unofficial Apple dealers in Suining in the eastern province of Jiangsu for about three hours, urging customers not to buy the genuine Apple goods on sale. “They chanted, ‘boycott American products and kick iPhones out of China,’” store owner Zhu Yawei told Reuters. “But nothing really happened: no fights, no smashing.” A video of the protest went viral on Chinese social media, with anti-Apple comments flooding microblogging site Weibo and pictures of what users described as their smashed iPhones – a luxury product in China widely considered a status symbol. However, among the vitriol was just as much support, with state-controlled media also calling for restraint. “It’s cheap nationalism and outright stupidity,” said Shan Mimi, a 23-year-old assistant at a Shanghai law firm. “But if you were to offer me an (upcoming) iPhone 7, then I would gladly smash my iPhone 6!” One young Chinese woman on Weibo said she had smashed her iPhone, accompanying her comment with a photo of a damaged handset. She later told Reuters she had lied. “I didn’t smash my iPhone. All I did was find a photo (of a smashed handset) on the internet and let off some steam,” said the 21-year-old, calling herself L-Tin. “Boycotting Apple would only make Chinese people lose their jobs – many work for Apple.”
New York City-based Deutsche Asset & Wealth Management has acquired the 383,000 square foot Results Way Corporate Center located at 5 Results Way in Cupertino.
“We are pleased to acquire Results Way, which will provide attractive cash returns to our clients. Cupertino is a dynamic market and recent improvements have transformed Results Way into a modern, state-of-the-art creative campus that should meet the tenant’s needs over the long term,” says Todd Henderson, head of real estate Americas for Deutsche in a prepared statement. He declined to comment on other details of its investment. The cap rate on this sale was approximately 6 percent, according to sources familiar with the transaction.
The asset is a 10-building campus property. It has been fully renovated within the last two years. Apple is the sole tenant in the property on a NNN lease. The property covers 20 acres and is located just southwest of Highway 85 and Stevens Creek Road in the Bubb Road area of Cupertino. Recent improvements to the property have been certified LEED Silver.
The asset was sold by Palo Alto-based Embarcadero Capital Partners. According to its Web site, the firm had owned the property since October of 2006. The company did not respond to phone calls seeking comment for the story. The real estate investment firm sold the property though Eastdil Secured in its Silicon Valley office. One of the people on the listing was Managing Director Greg Cioth. He did not return phone calls for comment.
Results Way is considered to be an office/R&D project. The fact that this property is fully leased should not be a surprise. According to data from Cassidy Turley Commercial Real Estate Services, the R&D market in Cupertino has no vacancies at all. This situation has been the case for over a year

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