Connect with us

Business

Samsung forecasts fourth-quarter decrease in profits because of weak demand and increasing rivalry

Published

on

Samsung Electronics on Thursday said it expects a decrease in profit in the three months that will end on Dec. 31 because of frail memory chip interest and extreme rivalry in the cell phone and purchaser gadgets.

The world’s top cell phone producer reported a 59% year-on-year bounce in working benefit to 12.35 trillion Korean won (about $10.89 billion) for the July-September quarter, which was in accordance with before direction. Samsung said it was halfway because of a lift sought after for cell phones and buyer gadgets — offer of cell phones, including new lead models like the Galaxy Note20, saw a close to half hop in deals.

Samsung shares fell 2.2% Thursday, following the general decrease in the South Korean market where the Kospi list was down 1.72%, likely because of a sharp auction on Wall Street daily prior.

“Looking ahead, Samsung Electronics expects profit to decline in the fourth quarter amid weakening memory chip demand from server customers and intensifying competition in mobile phones and consumer electronics,” the company said in a statement.

Low costs for memory chips utilized by workers in server farms are probably going to burden the fundamental benefit making semiconductor business over the most recent three months of 2020. Interest for chips utilized in cell phones, PCs and illustrations preparing units, utilized for gaming consoles and PCs, is anticipated to rise, Samsung said.

The versatile business will conceivably observe cell phone deals decrease, as indicated by the South Korean tech monster.

Examiners state that is likely because of expanded rivalry as the new Apple iPhone 12 and iPhone 12 Pro are set to remove some piece of the pie from the South Korean cell phone creator in the final quarter. In any case, Samsung’s showcases unit, which considers Apple a client, is set to see a critical ascent in versatile board deals from the second from last quarter because of new cell phone dispatches, as per the South Korean tech goliath.

Sanjeev Rana, a senior investigator at financier firm CLSA, said he stayed bullish about Samsung’s exhibition in 2021.

“Samsung remains a ‘Buy’ (rating) for the simple reason that next year we expect profit growth of 30%. This will be on the back of 43% recovery in semiconductor profit,” Rana told CNBC’s “Squawk Box Asia” on Thursday after the earnings announcement.

He said that a progressing decrease in normal selling costs for memory chips will reach as far down as possible in the initial three months of 2021 and costs will ascend in resulting quarters. Samsung’s cell phone business is likewise expected to do well in view of an expansion in online deals, which includes lower advertising cost for the organization, Rana said.

“Next year, we think will be good for the Samsung foldable phones too,” he added.

For one year from now, Samsung anticipated a recuperation in general worldwide interest yet said vulnerabilities will stay over the Covid pandemic.

Mark David is a writer best known for his science fiction, but over the course of his life he published more than sixty books of fiction and non-fiction, including children's books, poetry, short stories, essays, and young-adult fiction. He publishes news on apstersmedia.com related to the science.

Business

ProRata, an AI startup, Teams up with UK Publishers after reportedly Hitting $130 Million in Valuation

Published

on

A number of well-known British media outlets have joined ProRata, an AI firm that claims to compensate publishers for the usage of their work, in its expanding network of partnerships.

The Los Angeles-based firm announced on Wednesday that it has signed licensing deals with publishers such as Sky News, the Guardian, and the Daily Mail’s publisher, DMG Media.

In a recent Series A funding round, ProRata raised $25 million from investors such as the Mayfield Fund, Prime Movers Lab, and Revolution Ventures.

“ProRata’s founder and CEO Bill Gross said his firm’s AI technology is the only one that pledges to credit and compensate creators, while providing users with accurate search results.

“We have had hundreds of content owners and media companies reach out to us from around the world who are interested in piloting our technology. Stealing and scraping content is not a sustainable path forward,” he continued.

Similar alliances have previously been formed by ProRata with the German publisher Axel Springer, the Atlantic, Fortune, Time, and Universal Music Group (UMG).

Media firms are offered reasonable compensation by ProRata for the use of their content. The startup’s in-house technology may determine the proper amount of pay by evaluating the worth of the information used to create responses from an AI platform. This would make it possible to pay copyright holders for their work on a per-use basis.

Gross had previously said that AI platforms have been using “shoplifted, plagiarized content,” which fosters an atmosphere in which “disinformation thrives and creators get nothing.”

Gross is recognized for having created the pay-per-click model of internet search monetization with his business, GoTo.com, which was eventually acquired by Yahoo! in 2003.

In a recent blog post, Tige Savage, a cofounder of Revolution, stated that Bill Gross is a serial entrepreneur with extensive experience in monetization techniques.

“He’s attracted a world-class tech team led by AI luminary Tarek Najm to implement the vision and an accomplished business team, including Annelies Jansen and Jonas Lee to drive content and AI partnerships,” Savage continued.

The unpaid use of copyrighted materials by OpenAI and other tech companies to train their AI systems has led to litigation from media companies and other content creators.

Continue Reading

Business

Film Bazaar Unveils an Interactive Cinema App from an Indian Tech Startup

Published

on

Arjun Nittoor, the founder of the Indian technology firm Vireza, disclosed at Film Bazaar that the company is creating a new mobile application that would transform the experience of watching movies in theaters by enabling viewers to engage with the films in real time.

The technology, which was created wholly in-house at the company’s research and development department in Bengaluru, allows viewers to use their smartphones to vote on important plot points during the movie. To keep up with the current screening, patrons download an app before entering the theater and scan a QR code at their seat.

“The film industry is one of the few sectors where the audience experience has seen minimal technological disruption in theatres,” Nittoor stated. “While screen and sound quality have advanced and 3D has been partially adopted, the viewing experience has largely remained the same for decades.”

The screen automatically brightens to show voting options and dims again when choices are made. The system uses discreet phone notifications to encourage audience participation around every ten minutes.

In 2026, Vireza intends to introduce the technology with a full-length interactive movie that will be produced in both English and South Indian for international distribution. The business is presently in the development stage and will shortly start doing multiplex chain trial screenings.

CtrlMovie’s prior success in the interactive film industry was mentioned by Nittoor. CtrlMovie is well-known for “Traces of Responsibility” and “Late Shift.”

In order to overcome the difficulties in cinematography, editing, shot composition, and writing that plagued previous attempts at the format, the firm has spent five years creating what Nittoor refers to as “a new science of filmmaking” that is especially tailored for interactive cinema.

“Despite the proliferation of viewing devices, big-ticket films continue to draw massive crowds to theatres, with box office numbers higher than ever,”  Nittoor stated. “This demand underscores the potential for a meaningful technology shift that could draw audiences out of their homes and into cinemas.”

Other Asian businesses are likewise investigating audience-driven narrative in motion pictures. In February of the following year, Japan’s King Records intends to release “Hypnosis Mic – Division Rap Battle,” an animated interactive film.

Continue Reading

Business

Perplexity, an AI business, adds retail capabilities as search competition gets more intense

Published

on

Perplexity, an artificial intelligence search firm, opened a shopping hub on Monday to draw people to its platform in an effort to challenge Alphabet-owned Google’s hegemony in the search engine market.

Supported by Amazon (AMZN.O) founder Jeff Bezos and top AI chipmaker Nvidia (NVDA.O), the company launches a new tab and will provide users with product cards that display pertinent goods in answer to shopping-related queries.

According to the company, each card offers product facts in an eye-catching manner.

Shopify (SHOP.TO), one of the platform integrations that powers the new functionality, provides access to up-to-date and pertinent information on products from companies on the Canadian e-commerce platform worldwide that ship to the United States.

The goal of e-commerce platforms has been to attract more merchants by utilizing more AI-powered solutions.

‘Snap to Shop’ is a visual search engine featured in Perplexity’s online shopping rollout that displays products based on users’ pictures of an item.

The features will initially be introduced in the US before moving on to other regions; however, no timeframe has been given.

Additionally, Perplexity is launching a “Merchant Program” to enable shops to communicate with the company about its products.

Earlier in November, Reuters reported that the business was raising $3 billion in new funding.

Since the generative AI pioneer added a number of new search features to ChatGPT, OpenAI has become a direct rival of Perplexity, which has been seeking to broaden its product line.

Continue Reading

Trending

error: Content is protected !!