Decline in Global PC Sales Expected to Impact Chip Demand

A slump in PC sales and crashing cryptocurrency markets appear to be tempering a demand for semiconductors spurred by COVID-19 era supply chain shortages. Inflation is another mitigating factor, as sales of laptops and high-end GPUs for gaming and cryptocurrency mining slacken. Research firm Gartner predicts global PC shipments will contract by 9.5 percent in 2022, with consumer demand projected to decline by 13.5 percent. Enterprise sales are also expected to drop, by 7.2 percent, according to Gartner. Those numbers align with the 10 percent PC sales decline Micron Technology has forecast. Continue reading Decline in Global PC Sales Expected to Impact Chip Demand

Twitch Users Can Soon Ask Guests to Join Their Live Stream

Twitch is rolling out a new feature called Guest Star that allows users to invite up to five guests to join their live stream. Guest Star will at first deploy to a small group and expand to all users by the end of the year. Anyone with a Twitch account will be able to join a stream from their desktop or mobile app. Previously, those who wanted to have guests join a stream had to do it through a third-party platform like Discord. Creators using Guest Star will be able to host their guests directly within Twitch Studio or Open Broadcaster Software (OBS). Continue reading Twitch Users Can Soon Ask Guests to Join Their Live Stream

In First for Apple, Maryland Store Employees Vote to Unionize

The National Labor Relations Board announced over the weekend that 65 Apple employees at a Towson, Maryland store (near Baltimore) have voted to unionize (33 voted against). The Apple CORE (Coalition of Organized Retail Employees) will become part of the International Association of Machinists and Aerospace Workers (IAM). The decision follows a growing labor trend across restaurant, retail and tech industries, while marking a first for Apple’s more than 270 U.S. retail locations. The Towson facility is the third Apple Store to conduct a union drive this year, but the first to hold an official vote. Continue reading In First for Apple, Maryland Store Employees Vote to Unionize

Online Child Safety Gains Steam at State and Federal Levels

Online privacy protections for consumers are in focus on Capitol Hill, with the Kids Online Safety Act (KOSA) getting particular attention. A coalition of more than 100 organizations, including Fairplay and the American Psychological Association are calling on senators to advance KOSA this month. Co-sponsored by senators Richard Blumenthal (D-Connecticut) and Marsha Blackburn (R-Tennessee), the legislation would require social media platforms to conduct annual audits to identify risks to minors as well as more concrete steps like opting out of algorithmic recommendations and disabling “addictive” features.  Continue reading Online Child Safety Gains Steam at State and Federal Levels

Amazon Plans to Continue Diversifying Despite Tough Times

Despite slowing e-commerce sales growth and signs of a global recession, Amazon plans to continue diversifying through investments like building a brick-and-mortar grocery chain, launching a satellite network for Internet delivery, expanding Alexa services, and developing self-driving cars — including through Zoox, an autonomous taxi subsidiary. That was the message from company CEO Andy Jassy at the Bloomberg Technology Summit in San Francisco. The remarks come after Amazon posted its first quarterly loss in seven years in Q1, which also marked the company’s slowest revenue growth since 2001. Continue reading Amazon Plans to Continue Diversifying Despite Tough Times

Android 13 and iOS 16 Bring Smartphone Upgrades This Fall

New Android and iPhone operating system updates for smartphones will be made available free this fall. Both Google and Apple have announced improvements to text messaging apps. Notably, Apple’s iMessage will allow iPhone users to edit or recall text messages after they’ve been sent, a much-requested feature over the years. The iPhone’s iOS 16 will also debut a redesigned lock screen. Meanwhile, Google’s Android 13 will have among its upgrades a new and improved wallet app that can store important documents like credit cards and medical records. Continue reading Android 13 and iOS 16 Bring Smartphone Upgrades This Fall

Atlanta Apple Store Employees Pause Union Organizing Push

Apple Store workers in Atlanta, Georgia have paused organizing efforts that could have resulted in the first unionized Apple Store in the U.S. The matter was scheduled to be put to vote this month, but the Communications Workers of America withdrew the request, citing the safety of Cumberland Mall workers amidst a COVID-19 surge and charges of union busting by Apple. At least three other U.S. Apple Stores are holding union drives, according to reports. Workers at a Towson, Maryland location are scheduled to vote June 15, with New York City’s Grand Central Terminal Apple Store also teeing-up, union leaders say. Continue reading Atlanta Apple Store Employees Pause Union Organizing Push

Chinese Technology Companies Are Experiencing Slowdowns

China’s tech sector is taking a hit. Revenue for e-commerce giant Alibaba posted what appears to be its most sluggish quarterly increase ever, at 9 percent, with competitor JD.com also paced among its worst performances, with revenue up 18 percent for Q1. The nation’s search engine leader, Baidu, reported 1 percent revenue growth, while Tencent remained flat. Supply chain problems due to the COVID-19 resurgence in conjunction with Beijing’s recent measures to battle back monopolies are cited as causes for the negative market turn. Since late 2020, China has been investigating alleged monopolistic practices among many top corporations. Continue reading Chinese Technology Companies Are Experiencing Slowdowns

Apple Said to Be Exploring Production Options Outside China

During Apple’s Q2 conference call a few weeks ago, CEO Tim Cook admitted China’s new COVID-19 lockdowns would result in supply chain disruptions causing as much as $8 billion in lost sales this year. Although Cook tried to emphasize Apple’s supply chain as “truly global,” with manufacturing in the U.S. and elsewhere, the company’s reliance on China could be problematic, and reports are surfacing that sources at the company are saying Apple is now on the hunt for production locations outside China, with India and Vietnam, where Apple already has small manufacturing operations, mentioned as candidates. Continue reading Apple Said to Be Exploring Production Options Outside China

Ad Tech, Brand Messaging Take Center Stage at TV Upfronts

While this year’s TV Upfronts were packed with celebrity appearances and musical performances, the focus had clearly shifted from scheduling to content that could be watched anytime and anywhere and the technologies that facilitate ad insertions and brand messaging opportunities. In addition to changing viewer habits, streaming and binge watching have resulted in new priorities for program services, now focused on libraries that amount to inventory by the ton, according to reports from the television industry’s annual New York pitch event for advertisers. Continue reading Ad Tech, Brand Messaging Take Center Stage at TV Upfronts

Tencent Reports a Significant Profit Decline on Flat Revenues

Chinese tech and entertainment conglomerate Tencent Holdings posted a 23 percent first quarter profit decline on earnings that inched up only 0.1 percent, its worst results since publicly listing on the Hong Kong Stock Exchange in 2004. China’s COVID-19 resurgence and the ensuing regulatory crackdown of the past year were cited as factors. The world’s largest video game developer said that it is refocusing on quality product as Beijing telegraphs it will limit the number of titles release in the coming months. Authorities suspended video game licenses and put time restrictions on game streaming in an effort to protect the nation’s youth. Continue reading Tencent Reports a Significant Profit Decline on Flat Revenues

Billions of Dollars Are Vaporized in Cryptocurrency Meltdown

The bottom fell out of the cryptocurrency market last week, wiping out more than $300 billion in a sell-off that underscored the risks of the unregulated digital currencies. Bitcoin fell below $27,000, its lowest point since 2020, as part of a larger trend that saw cryptocurrency exchange Coinbase lose half its value. The stablecoin TerraUSD “imploded.” The panic has been described as the biggest reset in cryptocurrencies since Bitcoin fell by 80 percent in 2018. But the current crash is more severe, since far more people and institutions are investing in digital currencies today. Continue reading Billions of Dollars Are Vaporized in Cryptocurrency Meltdown

Chicken Soup for the Soul to Acquire Redbox for $375 Million

Streaming company Chicken Soup for the Soul Entertainment has initiated a $375 million acquisition of Redbox Entertainment, which operates roughly 38,000 DVD rental kiosks located in retail locations throughout the nation. The deal includes $50 million in Chicken Soup stock and assumption of Redbox’s $325 million in debt. Redbox has about 40 million customers enrolled in its loyalty program (Redbox Perks), offers more than 130 FAST digital channels on a Free Live TV platform, and has a content library that spans TVOD and PVOD platforms, in addition to physical and digital distribution channels. Continue reading Chicken Soup for the Soul to Acquire Redbox for $375 Million

Paramount Global’s Streaming Subs Exceed 62 Million in Q1

Paramount Global’s worldwide streaming subscribers for Paramount+ and Showtime rose to more than 62 million in Q1, driven by Paramount+, which added 6.8 million for a total of close to 40 million, the company said in its earnings report. Paramount+ is poised to add the United Kingdom and South Korea to its global portfolio next month, Paramount Global CEO Bob Bakish told investors Tuesday. Paramount+ plans to launch in Italy, Germany, France and Austria in the second half of 2022, and in India next year. Pluto TV also grew, launching over 102 new channels internationally, totaling more than 1,000 global channels. Continue reading Paramount Global’s Streaming Subs Exceed 62 Million in Q1

Apple Reports Record $97 Billion Quarter but Somber Outlook

Apple’s fiscal Q2 was one of the best quarters in its 46 years of business. The company reported record revenue of $97.3 billion, up 9 percent year-over-year, far outperforming analyst expectations of $94 billion. More than $28 billion in operating cash flow and a return of nearly $27 billion to Apple shareholders resulted in the January through March period. But Apple warned that the outlook could dim in the current quarter, with China’s COVID-19 resurgence threatening to slow manufacturing, stymying sales by anywhere from $4 billion to $8 billion in fiscal Q3. Continue reading Apple Reports Record $97 Billion Quarter but Somber Outlook