Categories
Tech

LG Electronics Logged Net Losses of $717 Million in Q4 2019

LG Electronics said that its fourth-quarter deficit widened due to losses in its equity ties with a display-making affiliate, while its mobile business remained in the red. The tech giant said it logged a net loss of $717 million in the October-December period, compared with a $67.7 million net loss a year earlier, Yonhap news agency reported. The company’s operating profit increased by 34.5 percent on-year to 101.8 billion won in the fourth quarter, but this was an 87 percent drop compared to the previous quarter. Sales rose 1.8 percent on-year to $13 billion in the last three months of 2019. For the whole of 2019, LG Electronics’ net income tumbled 87.8 percent on-year to $150.9 million.

Operating profit dropped 9.9 percent on-year to $2.01 billion, but sales inched up 1.6 percent on-year to a record $52 billion. LG Electronics said its equity ties with LG Display Co. hurt its bottom line. The company holds a 37.9 percent stake in the world’s leading OLED panel maker. LG Display, which is scheduled to announce its fourth-quarter earnings on Friday, has been suffering from falling LCD panel prices.

Analysts here expect LG Display to suffer more than $839 million in losses in 2019. Aside from equity losses, LG Electronics saw its mobile business extend a slump to 19 consecutive quarterly losses. LG Electronics’ mobile business unit posted $278 milion in operating loss in the fourth quarter, widening from a loss of $267 million a year earlier. The unit’s sales plunged 21.2 percent on-year to $1.09 billion.

For all of 2019, its mobile business had sales of $4.9 billion, down from $6.62 billion in 2018, while the operating loss was tallied at $847 million, also widening from $661 million in 2018. Analysts here predict that LG Electronics shipped only 29 million smartphones in 2019, down 28 percent from a year earlier.

“Sluggish sales of mass-tier smartphones in overseas markets, increased marketing expenses, and retail inventory adjustments led to operating loss in the mobile business,” the company said.


Categories
Tech

Apple Expected to Produce 6 Million Units of iPhone 9 by Q1 2020

Apple had produced a total of 70 million iPhones in its first-quarter, of which 52 million phones were iPhone 11 and iPhone 11 Pro models.

Apple Expected to Produce 6 Million Units of iPhone 9 by Q1 2020
Image for Representation
(Reuters)

Apple is expected to produce a total of six million units of the iPhone SE2, also called the iPhone 9, between the period of January 1 and March 31. As per a report, Cowen analyst and Managing Director Krish Sankar has claimed that the tech giant will be producing a total of six million pieces of iPhone SE 2 between January 1 and March 31. With this information, rumours about the phone’s launch in March seem to be more believable.

Sankar also added that the upcoming iPhone will probably be priced at $475 and will account for 12 percent of all iPhone production in Apple’s second quarter. This also means that the rest of the 40 million phones will be mostly iPhone 11 series phones including the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max. Apple in its first quarter, which is from October 1 to December 30, had apparently produced a total of 70 million iPhones of which 52 million phones were iPhone 11 and iPhone 11 Pro models.

As per estimates, the company will target making another 43 million iPhones in its third fiscal quarter which ends on June 30. Further, analysis claims that the brand will ship a total of 195 million iPhones in this fiscal year which is from October 1, 2019, to September 29, 2020.

It is rumoured that the iPhone 9 will have a 4.7-inch notch-less LCD display and will also have a home button with Touch ID, advanced single-lens camera and the A13 Bionic processor. According to an image shared on Twitter, the imaging sensor of the upcoming device looks much bigger and thicker than the one on the back of the iPhone 8. This will most likely mean better camera performance. Till now it is not clear as to when Apple will launch the iPhone SE 2, and what will be the final name of the device. But if Apple launches the handset at a competitive price, it could work in favour of the company.

Get Delhi elections 2020 live results and details of all seats and each and every candidate.

Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.


| Edited by: Chhavianshika Singh

Categories
Tech

Amazon Music Crosses 55 Million Global Subscriptions, Closes In on Apple Music

While Amazon Music is inching close to Apple Music’s just over 60 million subscribers, it still has a long way to go to catch up to Spotify (248 million users).

Amazon Music Crosses 55 Million Global Subscriptions, Closes In on Apple Music
Image for Representation

Amazon said that its streaming music service has won more than 55 million subscribers, closing in on Apple Music. Amazon Music, however, still has a long way to go to catch up to Spotify, which boasts 248 million users, including 113 million paid subscribers. Amazon said that its music service had a year of “incredible growth around the world” that included a more than 50 per cent jump in the number of Prime service subscribers who pay to upgrade to an Unlimited music option.

“We’re proud to reach this incredible milestone,” said Amazon Music vice president Steve Boom. “We’ve always been focused on expanding the marketplace for music streaming by offering music listener’s unparalleled choice because we know that different listeners have different needs”. Amazon Prime memberships costing $119 annually in the US include access to a library of some two million songs and free, fast deliveries of online purchases. In India, Amazon Prime is priced at Rs 129 per month and Rs 999 a year.

Amazon offers several streaming music subscription options for those who are not Prime members in select markets. Amazon Music has grown about 50 per cent in Britain, Germany, Japan, and the US during the past year, and is winning listeners in newer markets such as France, Italy, Mexico and Spain, according to the Seattle-based company.

Apple’s streaming music service had more than 60 million subscribers worldwide as of the middle of last year, according to various estimates. California-based Apple has made a priority of selling digital content and services to users of its popular devices as it weans itself off dependence on iPhone sales for revenue. Amazon, meanwhile, has relentlessly expanded its offerings from books to e-commerce, cloud services, streaming video and music, and more.

Categories
Tech

Samsung to Invest $500 Million to Set Up Display Manufacturing Unit in India

In 2018, Samsung Electronics opened a smartphone manufacturing plant in Noida to expand presence in the world’s second-largest mobile phone market, after China

IANS

Updated:January 21, 2020, 4:28 PM IST

Samsung to Invest $500 Million to Set Up Display Manufacturing Unit in India
Image for Representation

Samsung Display, South Korea’s major display panel maker and an affiliate of Samsung Electronics, plans to invest $500 million in India to set up a manufacturing unit. According to US tech media outlet TechCrunch, Samsung Display filed an investment plan with India’s regulator earlier this month, saying the plant in Noida, near New Delhi, would produce smartphone displays

Samsung Display officials in South Korea confirmed that the company was preparing to set up a plant there, but declined to comment on the scale of investment, Yonhap news agency reported on Monday. Last year, the company set up its India arm Samsung Display Noida Private Ltd.

In 2018, Samsung Electronics opened a smartphone manufacturing plant in Noida to expand presence in the world’s second-largest mobile phone market, after China. Industry insiders said Samsung Displays’ new plant would help its parent company secure smartphone display panels at cheap prices and boost productivity. In India, Samsung Electronics has been in fierce competition with Chinese rivals. According to data from market researcher Counterpoint, Samsung Electronics is the second-largest smartphone vendor behind China’s Xiaomi Corp in India.

Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.


Categories
Tech

Tech Companies Have Paid 114 Million Euros in Fines in Europe for Data Breaches

France has imposed the biggest single fine of 50 million euros against Google.

Tech Companies Have Paid 114 Million Euros in Fines in Europe for Data Breaches
France has imposed the biggest single fine of 50 million euros against Google.

European regulators have imposed 114 million euros ($126 million) in fines for data breaches since tougher privacy rules came into force in mid-2018, with approaches varying widely from country to country. A report by law firm DLA Piper said France has imposed the biggest single fine – of 50 million euros against Google – while the Netherlands, Britain and Germany led in terms of the number of data breach notifications. The General Data Protection Regulation was introduced in an effort to safeguard sensitive personal information and prescribes stiff penalties if companies lose control of data or process it without proper consent.

It is enforced by a patchwork of national data protection offices across the 28-member European Union, with responsibility falling disproportionately on Ireland – the ‘lead’ regulator for Silicon Valley giants that have based their European operations there, such as Facebook. The fines to date pale in comparison to multibillion-euro penalties imposed in EU anti-trust cases, but they are likely to rise over time as appeals and litigation subject the sanctions to scrutiny and create legal precedents.

In principle, regulators can impose fines of 2% or, in some cases 4%, of global turnover. In practice, they will have to judge whether such a heavy penalty would stand up in court, said DLA Piper partner Ross McKean. “It’s going to take time – the regulators are going to be wary about going to 4% because they are going to get appealed,” McKean told Reuters. “And you lose credibility as a regulator if you’re blown up on appeal.”

The largest single penalty threatened so far has been in Britain, where the regulator has proposed a fine of 183 million pounds ($239 million) against British Airways owner IAG over the theft of data of half a million customers.

Categories
Tech

206 Million Used Smartphones Were Sold Globally in 2019: Report

The global shipments of used smartphones, both officially refurbished and used ones – will reach a total of 206.7 million units in 2019 — an increase of 17.6 per cent over the 175.8 million units shipped in 2018, according to a new report from the International Data Corporation (IDC). The used smartphone shipments will reach 332.9 million units in 2023 with a compound annual growth rate (CAGR) of 13.6 per cent from 2018 to 2023.

“In contrast to the recent declines in the new smartphone market, as well as the forecast for minimal growth in new shipments over the next few years, the used market for smartphones shows no signs of slowing down across all parts of the globe,” said Anthony Scarsella, research manager with IDC’s aWorldwide Quarterly Mobile Phone Tracker’. Refurbished and used devices continue to provide cost-effective alternatives to both consumers and businesses that are looking to save money when purchasing a smartphone.

“Moreover, the ability for vendors to push more affordable refurbished devices in markets in which they normally would not have a presence is helping these players grow their brand as well as their ecosystem of apps, services, and accessories,” said Scarsella. This growth can be attributed to an uptick in demand for used smartphones that offer considerable savings compared with new models. Moreover, original equipment manufacturers (OEMs) have struggled to produce new models that strike a balance between desirable new features and a price that is seen as reasonable.

Looking ahead, IDC expects the deployment of 5G networks and smartphones to impact the used market as smartphone owners begin to trade in their 4G smartphones for the promise of high-performing 5G devices. Although drivers such as regulatory compliance and environmental initiatives are still positively impacting the growth in the used market, the importance of cost-saving for new devices will continue to drive growth, said IDC.

“Overall, we feel that the ability to use a previously owned device to fund the purchase of either a new or used device will play the most crucial role in the growth of the refurbished phone market. Trade-in combined with the increase in financing plans (EIP) will ultimately be the two main drivers of the refurbished phone market moving forward,” said Will Stofega, Program Director, Mobile Phones.

Categories
Tech

Apple Acquires Xnor.ai, an Edge-based AI Startup, for $200 Million

Apple’s acquisition of Xnor.ai is believed to be a routine startup acquisition in a bid to incorporate new technologies into its own service.

I

Apple Acquires Xnor.ai, an Edge-based AI Startup, for $200 Million
Image for Representation

Apple has acquired Xnor.ai, a Seattle based startup specialised in low-power, edge-based artificial intelligence tools for around $200 million. “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.” said Apple in a statement given to GeekWire. Xnor.ai’s work is expected to be be incorporated into future iPhones, improving Siri and other AI and machine learning-based tasks. Recently, Apple has acquired another Seattle-based machine learning startup Turi for almost same amount. The move is set to increase Apple’s presence in the Seattle region where the tech giant has been building an engineering outpost

Turi offers tools that are meant to let developers easily scale machine learning applications. The Cupertino-based company has recently bought some machine learning and AI startups like VocalIQ and Perceptio and facial recognition startup Emotient, among others. Apple has recently been making a push into artificial intelligence through Siri personal assistant and related technologies.

Categories
Tech

Jeff Bezos: Amazon Will Create 1 Million New Jobs in India by 2025

A day after Commerce and Industry Minister Piyush Goyal snubbed him during a public event, Amazon Founder and CEO Jeff Bezos on Friday announced that the ecommerce giant will create 10 lakh new jobs in India by 2025 through continued investments in technology, infrastructure and its logistics network. The new expected jobs is on top of the 700,000 jobs Amazon has already created in the country since 2013, the company said in a statement. “We are investing to create a million new jobs here in India over the next five years,” said Bezos.

“We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we’ve partnered with, and great enthusiasm from the customers who shop with us, and we are excited about what lies ahead,” the Amazon Founder said in a statement. The announcement came after Prime Minister Narendra Modi gave a cold shoulder to the world’s richest man who has an estimated net worth of $117 billion, by not meeting him.

On Thursday, Goyal not only ticked off Bezos saying that they are not doing India a favour by investing a billion dollars, but also raised concerns if its losses were a result of predatory pricing and if Amazon and Flipkart were gaining entry into multi-brand retail by using loopholes. More importantly, alluding to the $1 billion investment announced by Bezos in India, Goyal had a different take. “(If) they have made a loss of a billion dollars then they jolly well have to finance the billion dollars. So, it is not as if they are doing a great favour to India when they invest a billion dollars,” the minister told the gathering.

On Wednesday, Bezos announced that the company plans to invest $1 billion to help bring 10 million traders and micro, small, and medium-sized businesses (MSMEs) across India online, enabling US $10 billion in cumulative exports by 2025 and supporting India’s economic diversification. According to Amazon, the 10 lakh new jobs will be across industries, including information technology, Cloud computing, skill development, content creation, retail, logistics and manufacturing.

“Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the US and the largest building globally in terms of employees (15,000) and space (9.5 acres). The company said that Amazon’s operations network has created inclusive job opportunities across the country, including hundreds of associates with hearing and speech impairment at its fulfilment centres, sortation stations, and delivery stations.

Amazon also has an all-woman delivery station, along with a pilot internship programme for individuals with autism and intellectual disabilities. The company said that it has expanded growth opportunities for more than 550,000 traders and micro, small, and medium-sized businesses – including local shops – through initiatives like Saheli, Karigar, and “I Have Space.”

Categories
Tech

Huawei Surpassed Samsung by Selling 6.9 Million 5G Smartphones in 2019

Samsung sold 6.7 million 5G smartphones globally in 2019 while Huawei sold its smartphones primarily in its domestic market, China.

Representative image. (Photo: Reuters)
Representative image.

It is yet again a tough battle between Samsung and Huawei for the top spot, this time in the 5G market. Samsung, earlier this month revealed that it shipped a total of 6.7 million phones with 5G connectivity, while the Chinese company Huawei recently announced that they have surpassed South Korean phone making giant’s milestone after shipping 6.9 million 5G phones in the year 2019.

As of now, Huawei sells 6 models that support 5G connectivity, these phones are the Mate 20 X 5G, Mate 30 5G, Mate 30 Pro 5G, Mate 30 RS Porsche Design, nova 6 5G, and the foldable Mate X. Furthermore, there are two more phones, which they sell with the same connectivity under their subsidiary brand Honor, the V30 and the V30 Pro.

In a post on Chinese social media site Weibo, the company claimed the latter two managed to win the title for Best Selling Phone on JD.com and Tmall in its price category. Samsung managed to achieve the target by selling phones across the globe while the Chinese phone maker primarily sold its device in its domestic market, where there was a negligible presence of Samsung.