Social App Spending Projected to Hit $17.2B Globally in 2025

Global consumer social app spending is expected to hit $17.2 billion by 2025, up from $6.78 billion in 2021, according to a study by San Francisco-based mobile analytics firm App Annie. That’s a 29 percent compound annual growth rate (CAGR) over five years — a brisk pace credited mainly to live streaming. By 2025, the lifetime total spend on social apps is expected to reach $78 billion, according to App Annie. Meanwhile, time spent using social media the globe over totaled a whopping 740 billion hours for the first half of 2021, with 548 billion hours devoted to live streaming. Continue reading Social App Spending Projected to Hit $17.2B Globally in 2025

Government Reveals U.S. Agencies Using Facial Recognition

The federal Government Accountability Office (GAO) revealed that, out of 24 U.S. government agencies surveyed, 19 of them are using facial recognition, including the Department of Defense, the Department of Homeland Security (DHS) and numerous other smaller agencies. The GAO report added that as use of facial recognition “continues to expand … members of Congress, academics, and advocacy organizations have highlighted the importance of developing a comprehensive understanding of how it is used by federal agencies.” Continue reading Government Reveals U.S. Agencies Using Facial Recognition

South Korea to Let Consumers Select App Payment Provider

South Korea is on the verge of becoming the first country to initiate legislation that would provide consumers with the choice of which app payment provider to use. The Telecommunications Business Act, which is “almost certain” to pass a vote in the assembly, could end the “effective duopoly” of Apple and Google. It would also enable companies like Epic Games to transact directly with users and avoid hefty commissions charged by those two companies. In the U.S., Apple and Google face legislative actions and an Epic Games lawsuit. Continue reading South Korea to Let Consumers Select App Payment Provider

Twitter to Study Misinformation by Letting Users Flag Tweets

Twitter is testing a new feature in a few markets that will allow users to flag posts that contain misinformation, similar to how they can already report spam or abuse. The company — which doesn’t have a strong fact-checking unit — plans to use the feature to study misinformation on the platform rather than review the user-identified tweets for legitimacy or respond to the reporting user with updates. Currently, Twitter only fact-checks tweets on elections, COVID-19 and other “select categories.” Continue reading Twitter to Study Misinformation by Letting Users Flag Tweets

Intel Chief Promotes Chipmaking Plan to U.S., Global Leaders

Intel chief executive Pat Gelsinger and board members met with the Biden administration to promote his company’s plan to build more semiconductor factories with subsidies from the U.S. government. Currently, Asian-owned chip factories, which receive hefty incentives, dominate chip production. There’s also an “unprecedented” global shortage of chips, which is impacting the auto and consumer appliance industries. Gelsinger was hired this year to improve the fortunes of the beleaguered Intel. Continue reading Intel Chief Promotes Chipmaking Plan to U.S., Global Leaders

Korean Virtual Production Stage Features Samsung’s The Wall

Samsung has partnered with CJ ENM, a major Korean entertainment media production company to build a virtual production facility in South Korea. CJ ENM, which previously inked a deal with Epic Games to use its Unreal Game engine, will rely on Samsung’s next-generation MicroLED display, also known as “The Wall.” The facility will open later this year in Paju, Gyeonggi Province. Because of the savings offered to film and television via virtual production, the Göteborg Film Festival predicted it will be the norm in filmmaking in five years. Continue reading Korean Virtual Production Stage Features Samsung’s The Wall

Esports and VR Games Expected to Benefit from 5G Speeds

Video game competitions played before live and online audiences, known as eSports, has become a booming market, and 5G is poised to ramp up its popularity. Among Big Tech companies, Intel and Ericsson stated that 5G will increase the realism of game imagery and action and potentially allow more players from different venues to compete in a single event. Virtual reality games will also benefit from 5G’s dramatically increased speeds and will permit lighter form-factors than today’s bulky backpacks stuffed with computers. Continue reading Esports and VR Games Expected to Benefit from 5G Speeds

South Korea Invests Big to Build Out Advanced Chip Industry

South Korea plans to invest about $450 billion in semiconductor manufacturing over the next decade in an effort to establish dominance in this key technology sector. One hundred fifty-three companies will follow a national blueprint devised by President Moon Jae-in’s administration, led by Samsung Electronics and SK Hynix, which raised their investment to 510+ trillion won in semiconductor research and production from now until 2030. The U.S., China and Europe are all building up their semiconductor manufacturing capacity. Continue reading South Korea Invests Big to Build Out Advanced Chip Industry

South Korean E-Commerce Powerhouse Raises $4.6B in IPO

Seoul-based startup Coupang is South Korea’s version of Amazon and the country’s biggest e-commerce retailer. Its IPO last week raised $4.6 billion and valued the company at about $85 billion, while its share offering price of $35 rose 41 percent to close the day at $49.25. Although Coupang plans to expand, it will soon face competition from South Korean family-owned conglomerates, called chaebol, which are building their own delivery networks. Another looming problem for Coupang are accusations of poor labor practices. Continue reading South Korean E-Commerce Powerhouse Raises $4.6B in IPO

Movie Chains Rent Screens to Video Gamers in South Korea

At South Korea’s largest cinema chain, CGV Cinemas, gamers are able to rent otherwise-empty auditoriums for a few hours to play games on movie screens. In that country, many movie theaters are still closed and those that are open can only accommodate 50 percent capacity, which is what gave CGV employee Seung Woo Han the idea of renting to gamers as a new revenue stream. Now, before 6:00 PM, up to four people can rent a big screen for two hours for about $90, a figure that rises to $135 in the evening. Continue reading Movie Chains Rent Screens to Video Gamers in South Korea

Samsung Looking to Launch Chip Manufacturing Plant in U.S.

Samsung Electronics may build an up-to-$17 billion chip manufacturing plant in Arizona, Texas or New York, according to sources, and is reportedly scouting two locations in the Phoenix area, two locations in the Austin vicinity and an industrial campus in New York’s Genesee County. The decision to build in the U.S. hinges on the availability of federal government incentives to balance out cheaper costs and government incentives elsewhere. Samsung’s plant would employ up to 1,900 people and open by October 2022. Continue reading Samsung Looking to Launch Chip Manufacturing Plant in U.S.

CES: Samsung’s New MicroLED TVs Offer Improved Contrast

Samsung debuted MicroLED TVs during last week’s virtual CES 2021, all offering 4K resolution, in fixed sizes of 110-inches, 99-inches and 88-inches, with the 110-inch version priced at $156,000. That compares to the launch at last year’s CES of the 292-inch MicroLED TV, made up of individual modules and custom-installed. In comparison, Samsung’s 98-inch 8K TV, which uses LCD-based QLED display, is priced at $60,000. MicroLED, the first new screen technology in 10 years, is closer to OLED than LCD and is said to feature improved contrast and response time. Continue reading CES: Samsung’s New MicroLED TVs Offer Improved Contrast

LG Electronics Unveils Mini LED QNED TV Ahead of CES 2021

Days before CES 2021 opens, South Korean tech company LG Electronics introduced its first-ever LG QNED TV, which marks a significant improvement in brightness and contrast. The LCD (liquid crystal display) TV uses ultra-small LEDs as the backlight; these LEDs are one-tenth the size of those used in its previous LCD TVs, which provide a much brighter picture because more of them can be bunched into a single area. The 86-inch LG QNED TV model, which offers 8K resolution, contains 30,000 LEDs as backlight. Continue reading LG Electronics Unveils Mini LED QNED TV Ahead of CES 2021

App Annie Reports Growth in Mobile Game and App Spending

App Annie predicted that mobile game and app spending will have grown 25 percent to $112 billion in 2020. Director of market insights Amir Ghodrati added that the company will likely revise these numbers upwards at the end of December. Both iOS and Android showed record-breaking growth, with 65 percent of spending going to the former and almost 30 percent to the latter. Apple iOS and Google mobile app and game downloads are expected to reach 130 billion in 2020, up 10 percent from 2019. Continue reading App Annie Reports Growth in Mobile Game and App Spending

Global Competition Ramps Up in the Semiconductor Industry

In light of the U.S. ban on selling chips and chipmaking technology to China, that country has raised $38 billion so far this year with the goal of achieving self-sufficiency. According to S&P Global Market Intelligence, that number — achieved through public offerings, private placements and asset sales — is “more than double” the total raised in 2019. Corporate registration tracker Tianyancha stated that 50,000+ Chinese businesses related to semiconductors registered this year, four times the total five years ago. Meanwhile, Seoul-based Samsung is investing heavily in its own next-generation chip business, ramping up competition in the semiconductor sector. Continue reading Global Competition Ramps Up in the Semiconductor Industry