Plus: The WSJ reports the EU delayed planned punishments for Apple and Meta as U.S. trade talks neared. And hedge-fund billionaire Bill Ackman discloses a nearly 20% stake in Hertz and floats expanding its Uber partnership. Victoria Craig hosts.
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[00:00:01] Here's your TNB Tech Minute for Friday, April 18. I'm Victoria Craig for The Wall Street Journal. Apple has tumbled from its No. 1 spot in China's smartphone market to No. 5. According to preliminary data from the research firm International Data Corporation, Apple's share shrank to just under 14% last quarter from a year ago.
[00:00:20] Chinese consumers opted instead for domestic-made devices from Xiaomi and Huawei. That demand was boosted by government subsidies that let consumers purchase lower-cost smartphones, tablets, and smartwatches for up to about $820. Despite the fall, Apple was the only non-Chinese brand to make the top five list. Elsewhere, The Wall Street Journal exclusively reports that the European Union delayed punishing Apple and Meta just before trade talks with the U.S. began.
[00:00:48] People familiar with the matter said the bloc delayed a planned announcement due earlier this week on cease-and-desist orders and potential fines targeting the companies. The decision came before the EU's trade commissioner met with U.S. officials on Monday for the first round of in-person talks since President Trump announced a 90-day pause on tariffs. The rulings are still expected to go ahead, but a spokesperson for the EU's executive body, the European Commission, said no dates have been announced.
[00:01:14] And finally, billionaire hedge fund manager Bill Ackman says he's built up a nearly 20% stake in rental car company Hertz, and he's floating the possibility of a Hertz partnership with Uber. Ackman said President Trump's sweeping tariff plans could actually help Hertz because used car prices are poised to rise under the new taxes. The CEO of Uber said Hertz has been a great partner, and he's excited to brainstorm about expanding the relationship. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast.