LiveWire

Because consoles were banned in China for nearly 14 years until 2014, developers in the country excelled at mobile and PC game development. However, Sony, Microsoft, and Nintendo have all launched consoles in China, and individual creators, as well as huge corporations such as Tencent and NetEase, all are vying for market share. In 2021, the global console market is estimated to generate $49.2  billion in revenue. Source: CNBC

As fears about the market for memory-related chips grew, Micron Technology's stock plummeted, continuing a recent slump. The stock plunged over 8% in one day, its worst decrease since March. It has dropped more than 15% this week, putting it on course to have its worst one-week drop since March 2020. Source: Bloomberg 

Samsung has unveiled two new upgraded foldable smartphones as the South Korean giant warm up to rising heat coming from Chinese competitors. The Flip3, with a 6.7-inch display, will start at $999, in line with other premium and flagship devices, and the 7.6-inch Fold3 at $1,799. Xiaomi meanwhile surged to the number two position for the first time ever with a 17 percent share as sales jumped 83 percent, according to Canalys. Apple dropped to number three with iPhone sales up just one percent, after getting a lift from last year's new models. Chinese makers Oppo and Vivo held fourth and fifth place in the global market, each with around 10 percent. Smartphone sales were up 11 percent from last year, but down from the first quarter as manufacturers struggled with a global shortage of semiconductors. Source: Agence France Presse

Rebounding consumer spending is one factor driving demand for #electronics. This rising demand is continuing to exacerbate semiconductor shortages for some industries. Source: IHS Markit

After a post-listing lockup on sales of its shares ended, Kuaishou Technology plummeted the most on record, highlighting the magnitude of investors' concerns about a broadening Chinese online crackdown. The stock is now down more than 20% from its listing price. Source: Bloomberg