price war

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ByteDance, Tencent Slash AI Model Prices Amid Fierce Competition

ByteDance and Tencent Holdings are cutting prices for their AI models, joining rivals like Xiaomi and Alibaba in a price war sparked by intense competition in China's AI market. ByteDance's Seedance 2.0 Mini is now half price, while Tencent reduced costs on its TokenHub platform. This follows similar moves by other major tech firms aiming to attract users amid a vibrant but crowded AI landscape.

SCMP Tech

Chinese EV Makers Won't Start Price War in UK/EU, Xpeng Vice-Chair Says

Developing

Business·12h agoAI summary

Chinese EV Makers Won't Start Price War in UK/EU, Xpeng Vice-Chair Says

Xpeng vice-chair Brian Gu stated that Chinese EV manufacturers will not initiate a price war in the UK and EU, focusing instead on quality and differentiation to attract customers. Despite intense competition and price cuts in China, European markets are expected to see competition based on features rather than just cost.

Guardian UK

Unitree Robotics Sees 53% Plunge in Q1 Profit Amid Competition

NEWS

5/26/2026AI summary

Unitree Robotics Sees 53% Plunge in Q1 Profit Amid Competition

Unitree Robotics reports a 53% drop in Q1 adjusted profit to 40.3M yuan, despite 68% revenue growth to 422.8M yuan, citing increased expenses and fierce competition in the humanoid robot sector ahead of its Star Market IPO hearing.

SCMP Economy

China's 618 Shopping Festival Kicks Off with Fierce Mobile Phone Price War

Developing

Business·5/22/2026AI summary

China's 618 Shopping Festival Kicks Off with Fierce Mobile Phone Price War

China's 618 shopping festival has begun with a significant price war on mobile phones. Major brands like Apple, Huawei, and Xiaomi are offering substantial discounts, with e-commerce platforms adding further incentives and national subsidies, potentially lowering prices by up to 50%. This aggressive discounting is driven by brands aiming to clear excess inventory and boost sales amidst rising component costs.

Small grocers’ neighbourhood links can help them beat price war, experts say

Hong Kong’s smaller grocers are bracing for pressure amid a fresh wave of price cuts by supermarkets and big retail chains, but some economists say their “neighbourhood connection” could help them stay afloat. A lawmaker also said it was unlikely the big local chains would monopolise the market citing strong competition from online shopping platforms. The latest price war erupted ahead of Mother’s Day on Sunday, with CK Hutchison-backed ParknShop and Jardine Matheson’s Wellcome each offering 12...

SCMP Economy

Hongkongers pack major supermarkets amid ‘price war’ on eve of Mother’s Day

NEWS

5/9/2026

Hongkongers pack major supermarkets amid ‘price war’ on eve of Mother’s Day

Hongkongers packed the aisles of supermarkets with carts full of daily necessities as the city’s major grocery chains engaged in what some were calling a “price war” ahead of Mother’s Day. Hong Kong’s two major supermarket chains, CK Hutchison Holdings-backed ParknShop and Jardine Matheson’s Wellcome, each offered 12 per cent off everything in their stores for those who bought a certain amount of goods on Saturday. HKTVmall, the city’s popular online shopping platform, entered the fray and...

SCMP Economy

China's EV Makers Double Down on AI Amid Fierce Price War

Developing

Tech·5/1/2026AI summary

China's EV Makers Double Down on AI Amid Fierce Price War

Chinese EV makers are intensifying their focus on AI features, integrating models like ByteDance's Doubao and Alibaba's Qwen, to navigate a prolonged price war. However, the rapid dissemination of technology makes differentiation challenging, pushing companies to explore 'outside-of-the-car' experiences.

CNBC

UAE Quits OPEC After 60 Years, Sparking Fears of Oil Price War

Developing

Business·4/30/2026AI summary

UAE Quits OPEC After 60 Years, Sparking Fears of Oil Price War

The UAE's shock exit from OPEC after 60 years threatens to unravel the oil cartel that has helped stabilize global markets for decades. With oil prices at four-year highs above $126/barrel, experts warn of a potential price war between Gulf rivals once the Iran conflict ends and flows resume through the Strait of Hormuz. Saudi Arabia has vowed to aggressively market its oil to Asian buyers with discounts to capture market share.

Guardian Business

Urgent

Business·4/30/2026AI summary

UAE Decision to Exit OPEC and OPEC+ Could Trigger Oil Price War, Expert Says

The UAE's decision to withdraw from OPEC and OPEC+ on May 1, 2026, is expected to spark a price war as the nation seeks to increase production. Expert Olzhas Baidildinov suggests this move reflects frustration over market share constraints amid rising global oil prices.

TASS

Developing

Business·4/30/2026AI summary

Russian Deputy PM Novak Dismisses Risk of Oil Price War Following UAE OPEC Exit

Russian Deputy Prime Minister Alexander Novak stated that an oil price war is unlikely despite the UAE's decision to exit OPEC and OPEC+, citing current global supply shortages in the industry.

TASS

Developing

Energy·4/29/2026AI summary

Experts say UAE exit from OPEC and OPEC+ could raise risk of oil price war

Energy analysts told TASS that the UAE’s reported decision to leave OPEC and OPEC+ from May 1, 2026 could increase pressure for higher output and, after Middle East conflict conditions ease, raise the risk of an oil price war.

TASS

DeepSeek Slashes AI Model Prices by Up to 97%, Potentially Sparking Price War

Urgent

Business·4/27/2026AI summary

DeepSeek Slashes AI Model Prices by Up to 97%, Potentially Sparking Price War

DeepSeek has reduced prices for its AI models by up to 97%, making V4-Pro cost US$0.0036 per million input tokens versus OpenAI's GPT-5.5 at US$0.5, potentially triggering a price war in the competitive AI market. The cuts for API users are effective immediately and permanent.

SCMP Tech