Apple

Chinese artificial intelligence company files $1.4 billion lawsuit against Apple

FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

SHANGHAI (Reuters) – Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co., Ltd., also known as Xiao-i, has filed a lawsuit against Apple Inc (AAPL.O), alleging it has infringed on its patents.

The company is calling for 10 billion yuan ($1.43 billion)in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” products that infringe on the patent, it said in a social media post.

Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009.

Apple did not respond to a requst for comment. Reuters was not immediately available to find a copy of the court filing.

The lawsuit marks the

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Apple removes thousands of game apps from China store: research firm

FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo

SHANGHAI (Reuters) – Apple Inc removed 29,800 apps from its Chinese app store on Saturday, including more than 26,000 games, according to data from research firm Qimai.

The takedowns come amid a crackdown on unlicensed games by Chinese authorities.

Apple did not immediately respond to a request for comment.

Earlier this year Apple gave game publishers an end-of-June deadline to submit a government-issued licence number enabling users to make in-app purchases.

China’s Android app stores have long complied with those regulations. It is not clear why Apple is enforcing them strictly this year.

The smartphone maker removed more than 2,500 titles from its app store over the first week of July. Games affected by the sweep included titles from Zynga

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Apple tops Saudi Aramco as most valuable publicly listed company

FILE PHOTO: The Apple logo is displayed at an event at their headquarters in Cupertino, California, U.S. September 10, 2019. REUTERS/Stephen Lam

(Reuters) – Apple Inc’s (AAPL.O) stock hit a record high on Friday after reporting blockbuster quarterly results, helping the iPhone maker briefly overtake Saudi Aramco to become the world’s most valuable publicly listed company.

Apple’s stock surged to as high as $412.22 a share, putting its market capitalization at $1.762 trillion, according to the share count provided by Apple in a regulatory filing on Friday.

Saudi Aramco (2222.SE), which has been the most valuable publicly listed company since going public last year, had a market capitalization of $1.760 trillion as of its last close, according to Refinitiv data.

Last up 6.2% at $408.78 in midday trading, Apple’s market capitalization stood at $1.748 trillion. After Apple bought back $16 billion worth of shares in the

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Apple loyalists prove physical stores not needed to drive iPhone sales: J.P. Morgan

FILE PHOTO: People look at iPhones at the World Trade Center Apple Store during a Black Friday sales event in Manhattan, New York City, U.S., November 23, 2018. REUTERS/Andrew Kelly

(Reuters) – Apple customer loyalty and response to the COVID-19 pandemic have proven brick-and-mortar stores are not essential to drive sales of its products, J.P.Morgan said on Friday, as the iPhone maker’s blockbuster quarterly results pushed its shares up 7%.

The United States’ most valuable company was forced to shut down more than 70 stores again in the third quarter in response to surging COVID-19 cases, but consumers were unfazed with the company topping analysts’ estimates for iPhone sales by $4 billion.

Revenue gains were splashed across every category and geography for the quarter, while a juicy stock split was added for extra measure, giving Wall Street and investors more cheer.

JPM analyst Samik Chatterjee said the performance spoke volumes

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