Samsung goes into emergency mode and introduces a 6-day work week for executives

Samsung Electronics Co., the tech giant's flagship, has mandated that executives, including heads of production and sales units, work an additional day over the weekend following a regular five-day schedule. This drastic shift in corporate strategy comes as some of Samsung's major divisions posted lower-than-expected results in 2023. With rising geopolitical tensions and a protracted war in Europe, Samsung aims…

Goodbye App Store: Apple Finally Allows App Downloads from Third-Party Sites in the EU

Apple has made a groundbreaking announcement regarding iOS apps, signaling a significant departure from its traditional App Store exclusivity. The tech giant has revealed that developers meeting specific criteria will now have the option to offer their iPhone applications for direct download from third-party websites, specifically targeting users in the European Union. This move marks a pivotal shift in Apple's…

Apple Struggles Against Chinese Rivals as iPhone Shipments Plummet

The global smartphone market has experienced a significant resurgence in the first quarter, as reported by IDC. However, amidst this overall growth, tech giant Apple Inc. faces its steepest decline in iPhone shipments since the Covid-19 pandemic outbreak, highlighting challenges in its key market, China. Sharp Decline in iPhone Shipments Apple's iPhone shipments dropped by 10 percent in the March…

BlackRock Hits Record $10.5 Trillion in Assets as Markets Surge

BlackRock, the world's largest asset manager, has reached a historic milestone, with assets under management (AUM) soaring to a record $10.5 trillion in the first quarter of 2024. The firm also reported a remarkable 36% surge in profit, propelled by the buoyant global equity markets that bolstered investment advisory and administration fees. The surge in BlackRock's AUM, which spiked by…

Telegram’s Cash Flow Soars: Eyes Billionaire Status

Telegram has reported positive cash flow in the first quarter of the year, setting the stage for a potential profitable year ahead. Pavel Durov, the enigmatic founder of Telegram, announced that the popular messaging platform ended the last quarter on a high note, with expectations soaring for turning a profit by the end of 2024. Durov's announcement comes hot on…

Introducing Zoom Workplace: Reimagine teamwork with your AI-powered collaboration platform

Zoom Workplace brings communication, employee engagement, spaces, and productivity solutions together on a single platform with Zoom AI Companion capabilities woven throughout. Today, dispersed teams and disconnected collaboration tools have created unwanted complexity — in the form of more meetings, siloed communication channels, and information overload. A 2023 Morning Consult report commissioned by Zoom revealed that more than half of…

Apple Explores Home Robotics as Potential ‘Next Big Thing’ After Car Fizzles

The endeavor encompasses the development of a mobile robot designed to seamlessly navigate households, tailoring itself to users' movements. Additionally, Apple has delved into crafting an advanced table-top device employing robotics to maneuver a display, enhancing user interaction within domestic spaces. Amid the dawn of this initiative, Apple finds itself at a critical juncture, compelled to diversify revenue streams following…

Tesla reports first drop in electric car sales since 2020

In the ongoing saga of Tesla versus BYD electric cars, a new chapter unfolds with Tesla reporting a significant downturn in its sales, marking its first decline since 2020. Meanwhile, BYD, the Chinese electric vehicle manufacturer backed by Warren Buffett, faced a staggering collapse in sales, plummeting nearly 1.5 times. Tesla Electric Car Sales: Worse Than Expected Even the usually…

Huawei Bounces Back: $97.48B Revenue Signals Business Revival

In a remarkable resurgence, Huawei Technologies reported a staggering $97.48 billion in revenue for 2023, marking its fastest growth in four years. This resurgence comes as a testament to the company's ability to navigate through turbulent waters, particularly in the aftermath of the 2019 U.S. sanctions. Consumer Segment Revival The consumer segment emerged as a key driver behind Huawei's impressive…

Volvo Bids Farewell to Diesel with Release of Final Model

Volvo Car AB has marked the end of an era by unveiling its last diesel-powered vehicle, signaling a decisive shift towards electric mobility. The Swedish automaker, renowned for its commitment to sustainability, rolled out the final model, the Volvo XC90, at its plant in Torsland, Sweden. This move aligns with Volvo's ambitious goal to exclusively produce electric cars by 2030.…

Hyundai’s $50 Billion Gamble: A Charge Towards EV Domination

Hyundai, in a bold move reflecting the seismic shift towards electric vehicles (EVs), has disclosed plans for a monumental investment of $50 billion (68 trillion won). This strategic initiative aims to propel Hyundai into the echelons of the top three EV manufacturers globally by the year 2030. The Korean automotive giant's investment strategy is meticulously crafted to fortify its foothold…

Intel will receive $8.5 billion under the CHIPS Act to support its U.S. manufacturing operations

Intel Corporation stands poised to receive an unprecedented boost from the U.S. government, marking the largest investment under the CHIPS Act, a significant stride in bolstering domestic semiconductor production. A tentative agreement struck with the Department of Commerce outlines Intel's potential windfall, with up to $8.5 billion in direct funding earmarked to fortify the chipmaker's U.S. manufacturing facilities. These funds…

BYD Emerges as Strong Contender Against Tesla in 2024 Electric Car Sales Race

TrendForce reports that global sales of NEVs, including BEVs, PHEVs, and FCVs, are projected to hit 13.03 million units in 2023, marking a 29.8% growth rate. This growth, while substantial, indicates a slowdown compared to the 54.2% surge witnessed in 2022. Among these figures, BEVs stand at 9.11 million units, with a growth rate of 24%, while PHEVs reach 3.91…

Microsoft Empowers Users With GPT-4 Turbo In Copilot Pro: Creating Chatbots Now Available

Microsoft Corporation has unveiled a significant expansion of its Copilot Pro subscription, introducing access to LLM GPT-4 Turbo from OpenAI, a move aimed at democratizing advanced AI capabilities for users worldwide. Copilot Pro Goes Global with GPT-4 Turbo The enhanced Copilot Pro subscription now spans across 222 countries, providing users with a plethora of cutting-edge features. Notably, Microsoft is offering…

Apple in Talks with Google to Integrate Gemini AI into iPhone

Bloomberg's Mark Gurman reports that Apple is currently engaged in discussions with Google regarding the integration of the Gemini artificial intelligence engine into the iPhone. This revelation emerges amidst Apple's contemplation of collaborating with OpenAI, the developer behind ChatGPT. Apple and Google have long maintained a search partnership, with Alphabet annually compensating Apple for employing its search engine as the…