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Arc sales tripled from 2016 to 2017 and more than doubled the following year, Bloomberg reports. Prakash said the company envisions revenue from Arc rivaling subscription and ad revenue down the line.

As Amazon continues to loom over the retail industry, some of the biggest stores in the world are pouring money into online retail, shipping logistics and other new programs to evolve their businesses.

Apple said its quarterly revenue increased 17 percent year on year to reach 53.3 billion dollars and profits of 2.34 dollars per share, up 40 percent. Its international sales accounted for 60 percent of the quarter's revenue.

As Bitzer explained, the home appliance market in China will not demonstrate a significant increment in amount in the next few years, but rather mature with the consumers showing more demand for premium and highly featured products.

As I said in the beginning, this story was based on dozens of interviews. And any reading of the responses leaves no doubt that this was an accurate portrait.