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PS5 Sales Cross 65 Million as Sony Sees 73 Percent Jump in Q3 Profit
Sony reported a bigger-than-expected 73 percent jump in operating profit in the September quarter. Friday’s earnings highlighted the power of a few hit titles to sway Sony’s PlayStation business segment, now four years into the latest hardware generation.
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Apple Offers Modest Growth Outlook After iPhone Sales Help Beat Profit Expectations
Apple's iPhone 16 sales boosted the company's quarterly sales beyond Wall Street expectations, the company said on Thursday. However, questions linger about the sustainability of this momentum through the holiday sales period. The company's executives did not give any indication of how the iPhone might fare, including in China, where the company's ...
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OpenAI's Stunning $150 Billion Valuation Said to Hinge on Upending Corporate Structure
OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter, who said its $150 billion valuation will be contingent on whether the ChatGPT-maker can upend its corporate structure and remove a profit cap for investors.
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Google Antitrust Ruling Could Put $20 Billion at Risk for Apple: Report
A US judge has recently ruled that Alphabet-owned Google was operating an illegal monopoly in the web search sector. Google pays Apple $20 billion (roughly Rs. 1,67,890 crore) annually, or about 36 percent of what it earns from search advertising made through the Safari browser. If the deal is undone, Apple could take a 4-6 percent hit to its prof...
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AI Chip Demand Drives Taiwan Chipmaker TSMCs' Second Quarter Profits Up By 30%
The world's largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has pushed TSMC's stock - and the broader Taiwan market - to record highs.
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Apple's iPhone Sales Target Billions Below Wall Street Expectations as China Business Suffers
Apple on Thursday forecast a drop in iPhone sales and targeted overall revenue $6 billion (roughly Rs. 49,714 crore) below Wall Street expectations as its China business took a hit. This overshadowed overall fiscal first-quarter sales and profit that beat analysts' targets, powered by iPhone growth, sending Apple shares down 3 percent in after-ho...
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Samsung Sees Smartphone and Tech Devices Demand Recovering in 2024 After Record Chip Loss
Samsung Electronics flagged a continued recovery in memory chips and tech demand in 2024, after reporting a 34 percent drop in fourth-quarter profit despite a memory price rebound as consumer demand remained weak in many businesses.
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iPhone Assembler Foxconn Reports One-Percent Drop in Q2 Net Profit Amid Weak Global Demand for Electronics
iPhone assembler Foxconn on Monday reported that its Q2 net profits have dropped by one percent, amid a decline in consumer demand. The net profit for the April-June quarter slipped to T$33 billion (roughly Rs. XXX crore), according to the Apple supplier. Foxconn said it expects revenue for smart consumer electronics to see a year-on-year decline i...
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iPhone Sales Declined in Q2 2023 as Services Revenue Saw Record Growth With 1 Billion Subscriptions
Apple shares dropped about 2 percent after the company predicted what could be the fourth quarter in a row of declining sales. For the just-ended period, strength in services drove the profit beat, but weaker than expected sales of Apple's most famous device, the iPhone, underwhelmed investors. Executives said iPhone sales would improve in the four...
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Spotify Raises Premium Plans Prices Across Several Countries
Spotify Technology on Monday raised prices for its premium plans across several countries including the United States and United Kingdom, as the music-streaming company looks to boost profitability in an uncertain economy.
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Apple Supplier Foxconn’s Sales Drop 9.5 Percent YoY Due to Low Global Smart Electronics Consumption
Taiwan's Foxconn said on Monday that revenue in May fell 9.5 percent year-on-year due to weakness in smart consumer electronics during the traditional low season. Foxconn, formally called Hon Hai Precision Industry, said revenue last month reached TWD 450.7 billion (roughly Rs. 1,21,300 crore), in line with its expectations, though it was up 5 perc...
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EU Regulator Moves Top Court to Make Apple Pay Over $14 Billion in Back Taxes
EU competition regulators appealed to the bloc's highest court on Tuesday to override a lower tribunal and make Apple pay a record EUR 13 billion ($14.3 billion or roughly Rs. 1,18,450 crore) in Irish back taxes. The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief Margrethe Vestager'...
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US President Joe Biden Says Social Media Firms Exploiting Children, Asks Lawmakers to Restrict Use of Data
US President Joe Biden on Tuesday accused Big Tech firms of conducting a "for profit" experiment on the country's youth and urged US lawmakers to rein in social media firms' abilities to collect the data of children and teenagers online. The US has trailed other countries in creating modern rules to curb the power of the biggest tech firms.
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Layoffs Alone Won’t Solve Tech’s Problems: Parmy Olson
The tech sector has had a tough time recently with the prevailing economic downturn hitting all the big companies. Amazon, Microsoft, Meta, and Alphabet have all announced layoffs in the thousands to cut their losses. While these tech giants are tightening up on fringe benefits and showing their talent the door, there is still more to do.
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Apple Posts First Quarterly Revenue Drop Since 2016 Amid Weak iPhone Sales During Holiday Season
Apple posted its first quarterly drop in revenue since 2016, after weak iPhone sales during the recent holiday season caused by pandemic-related restrictions on its factories in China. Unlike its peers in technology, Apple hasn’t signaled any intention to resort to mass layoffs, despite the quarterly downturn.
-
PS5 Sales Cross 65 Million as Sony Sees 73 Percent Jump in Q3 Profit
Sony reported a bigger-than-expected 73 percent jump in operating profit in the September quarter. Friday’s earnings highlighted the power of a few hit titles to sway Sony’s PlayStation business segment, now four years into the latest hardware generation.
-
Apple Offers Modest Growth Outlook After iPhone Sales Help Beat Profit Expectations
Apple's iPhone 16 sales boosted the company's quarterly sales beyond Wall Street expectations, the company said on Thursday. However, questions linger about the sustainability of this momentum through the holiday sales period. The company's executives did not give any indication of how the iPhone might fare, including in China, where the company's ...
-
OpenAI's Stunning $150 Billion Valuation Said to Hinge on Upending Corporate Structure
OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter, who said its $150 billion valuation will be contingent on whether the ChatGPT-maker can upend its corporate structure and remove a profit cap for investors.
-
Google Antitrust Ruling Could Put $20 Billion at Risk for Apple: Report
A US judge has recently ruled that Alphabet-owned Google was operating an illegal monopoly in the web search sector. Google pays Apple $20 billion (roughly Rs. 1,67,890 crore) annually, or about 36 percent of what it earns from search advertising made through the Safari browser. If the deal is undone, Apple could take a 4-6 percent hit to its prof...
-
AI Chip Demand Drives Taiwan Chipmaker TSMCs' Second Quarter Profits Up By 30%
The world's largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has pushed TSMC's stock - and the broader Taiwan market - to record highs.
-
Apple's iPhone Sales Target Billions Below Wall Street Expectations as China Business Suffers
Apple on Thursday forecast a drop in iPhone sales and targeted overall revenue $6 billion (roughly Rs. 49,714 crore) below Wall Street expectations as its China business took a hit. This overshadowed overall fiscal first-quarter sales and profit that beat analysts' targets, powered by iPhone growth, sending Apple shares down 3 percent in after-ho...
-
Samsung Sees Smartphone and Tech Devices Demand Recovering in 2024 After Record Chip Loss
Samsung Electronics flagged a continued recovery in memory chips and tech demand in 2024, after reporting a 34 percent drop in fourth-quarter profit despite a memory price rebound as consumer demand remained weak in many businesses.
-
iPhone Assembler Foxconn Reports One-Percent Drop in Q2 Net Profit Amid Weak Global Demand for Electronics
iPhone assembler Foxconn on Monday reported that its Q2 net profits have dropped by one percent, amid a decline in consumer demand. The net profit for the April-June quarter slipped to T$33 billion (roughly Rs. XXX crore), according to the Apple supplier. Foxconn said it expects revenue for smart consumer electronics to see a year-on-year decline i...
-
iPhone Sales Declined in Q2 2023 as Services Revenue Saw Record Growth With 1 Billion Subscriptions
Apple shares dropped about 2 percent after the company predicted what could be the fourth quarter in a row of declining sales. For the just-ended period, strength in services drove the profit beat, but weaker than expected sales of Apple's most famous device, the iPhone, underwhelmed investors. Executives said iPhone sales would improve in the four...
-
Spotify Raises Premium Plans Prices Across Several Countries
Spotify Technology on Monday raised prices for its premium plans across several countries including the United States and United Kingdom, as the music-streaming company looks to boost profitability in an uncertain economy.
-
Apple Supplier Foxconn’s Sales Drop 9.5 Percent YoY Due to Low Global Smart Electronics Consumption
Taiwan's Foxconn said on Monday that revenue in May fell 9.5 percent year-on-year due to weakness in smart consumer electronics during the traditional low season. Foxconn, formally called Hon Hai Precision Industry, said revenue last month reached TWD 450.7 billion (roughly Rs. 1,21,300 crore), in line with its expectations, though it was up 5 perc...
-
EU Regulator Moves Top Court to Make Apple Pay Over $14 Billion in Back Taxes
EU competition regulators appealed to the bloc's highest court on Tuesday to override a lower tribunal and make Apple pay a record EUR 13 billion ($14.3 billion or roughly Rs. 1,18,450 crore) in Irish back taxes. The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief Margrethe Vestager'...
-
US President Joe Biden Says Social Media Firms Exploiting Children, Asks Lawmakers to Restrict Use of Data
US President Joe Biden on Tuesday accused Big Tech firms of conducting a "for profit" experiment on the country's youth and urged US lawmakers to rein in social media firms' abilities to collect the data of children and teenagers online. The US has trailed other countries in creating modern rules to curb the power of the biggest tech firms.
-
Layoffs Alone Won’t Solve Tech’s Problems: Parmy Olson
The tech sector has had a tough time recently with the prevailing economic downturn hitting all the big companies. Amazon, Microsoft, Meta, and Alphabet have all announced layoffs in the thousands to cut their losses. While these tech giants are tightening up on fringe benefits and showing their talent the door, there is still more to do.
-
Apple Posts First Quarterly Revenue Drop Since 2016 Amid Weak iPhone Sales During Holiday Season
Apple posted its first quarterly drop in revenue since 2016, after weak iPhone sales during the recent holiday season caused by pandemic-related restrictions on its factories in China. Unlike its peers in technology, Apple hasn’t signaled any intention to resort to mass layoffs, despite the quarterly downturn.
