Chinese are spending less and less on luxury items

By: Trademagazin editor Date: 2019. 01. 09. 11:01

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Chinese customers are buying fewer and fewer smartphones, the sales of their expensive watches and handbags can also decline in the future – origo wrote.

The fact that Apple announced earlier that less iPhone was sold in the last three months of the year than expected, had a significant impact on the stock price of the European luxury companies, as a strong slowdown occurs in the Asian economy. (origo)