Tuesday, May 28

Tag: apple inc

Foxconnn Unit To Raise $4.3 Bn in China Biggest IPO Since 2015
CHINA

Foxconnn Unit To Raise $4.3 Bn in China Biggest IPO Since 2015

Foxconn Industrial Internet, often known as FII, which is the subsidiary of world's largest contract manufacturer Foxconn has announced to raise 27.1 billion yuan ($4.26 billion), a move that will mark mainland China's biggest IPO in almost three years. The Foxconn unit which is known to make electronic devices, industrial robots and cloud service equipment will offer 1.97 billion shares at 13.77 yuan per share in Shanghai, as per the company's statement filed on the stock exchange. Foxconn is a major Apple Inc supplier and with the proposed listing company wants to wean itself from the heavy dependence of manufacturing smartphones while diversifying into new areas. The Foxconn unit, which is known as FII and makes electronic devices, cloud service equipment and industrial robots,...
China’s Ride Aggregator Didi Halts Domestic Services for a Week
CHINA

China’s Ride Aggregator Didi Halts Domestic Services for a Week

China's Largest Ride Aggregator Service, Didi Chuxing has reported to halt one of its domestic services for over a week following a death of female passenger that sparked questions on safety this Friday. The killing of a 21-year-old flight attendant in the central province of Henan last week diverted attention leading to an intense debate over China's social media that became the most talked about topic microblog platform Weibo in no time. The case has given birth to questions over safety concerns challenging ride-sharing company, Didi as it takes on rivals such as Uber Technologies Inc. Didi is backed by Apple Inc and Japan’s SoftBank Group Corp. The company has also apologised as it is about to suspend its Hitch service- a pooling service for passengers and drivers going to the ...
Apple Shares Reach Record High after Warren Buffet Buys 75Mn Shares
Market

Apple Shares Reach Record High after Warren Buffet Buys 75Mn Shares

American multinational conglomerate, Berkshire Hathaway Inc has bought an additional 75 million shares of Apple Inc. in the first quarter while dumping its remaining stake in International Business Machines Corp., Chairman Warren Buffett informed in an interview. Buffet's announcement has come just after Apple had reported its quarterly sales and profit rose higher superseding all analysts estimations in more than two years. The news also did away with fears in Apple shares amidst the concerns that its iPhone flagship was struggling to woe customers in the market. Apple purchase which would otherwise cost between $11 billion and $14 billion, now adds to the almost 170 million shares that Berkshire Hathaway owned at the end of 2017 which was then Buffet's biggest shareholding. The add...
Apple Introduces New iPhone-recycling Robot named ‘Daisy’
Tech

Apple Introduces New iPhone-recycling Robot named ‘Daisy’

While we are yet to witness World Earth Day, Apple is ready to step into doing its bit for the conservation of planet. Adding on to its environmental accomplishments, the tech giant has introduced a robot, Daisy that can disassemble iPhone to recover valuable materials Daisy has been made by Apple engineers using Liam's parts and is capable of disassembling nine versions of iPhone and sorting their high-quality components for recycling. Further, it can take in 200 iPhones per hour sorting them and recovering their components much efficient than any conventional method that destroys valuable components during the process. Talking about the same, Lisa Jackson, Apple's Vice President for Environment, Policy and Social Initiatives said,   At Apple, we’re constantly working to...
Apple Launched iPhone 8 and iPhone 8 Plus in Red Colour
Tech

Apple Launched iPhone 8 and iPhone 8 Plus in Red Colour

Apple has launched a special red edition for its iPhone and iPhone 8 Plus variants. While iPhone 7 is already available in red, the red color variant of iPhone 8 and iPhone 8 plus is sure to drive the Apple fans crazy for the phone. Officially named as "(Product) Red Special Edition", a portion from the sale of the Red phone will go towards RED, an organization that supports HIV/AIDS programs to avoid testing, counseling, and medicine that helps to prevent transmission of HIV from a mother to the unborn child. Apple has been in partnership with Red since 2006 and has donated more than $160 million during last 11 years. Apart from the change in color scheme, no other change has been done in iPhone and iPhone 8 Plus models. The specifications and internal configuration remain the sa...
Apple Co-founder Steve Wozniak Sold All His Bitcoins
News

Apple Co-founder Steve Wozniak Sold All His Bitcoins

In his recent conference at the Nordic Business Forum in Stockholm, the Apple Computer co-founder Steve Wozniak said that he has sold all his Bitcoins, that he once bought for $700. As per the price, he must have carried out the purchase either in June, or late October-early November of the year 2017. Although, he never revealed the quantity he purchased but he did say, "I remember getting interested in bitcoin some time ago. It was $70 for a bitcoin, man and I went online and you had to have a special bank account at a special bank and I couldn't buy any bitcoin so I gave up. Eventually I got some of them at the $700 stage and it went down to $350. I didn't invest, I did it so I could play with bitcoin," in an interview in June, 2017. He also said that he just wanted to experime...
Apple Acquires Canadian App Development Service Buddybuild
ACQUISITION

Apple Acquires Canadian App Development Service Buddybuild

Apple still struggles to let developers make apps easily for its platform. In such an effort, the iPhone maker has acquired Vancouver-based app tool startup- Buddybuild- a mobile iteration platform focusing on continuous integration and debugging tools. Buddybuild makes it easier for developers to develop an app by providing them a simple workflow for iterating and pushing their apps to the users through GitHub, GitLab or BitBucket. "We're excited to share that the buddybuild team has joined the Xcode engineering group at Apple to build amazing developer tools for the entire iOS community." Buddybuild said in a bog-post. As part of the deal, Buddybuild will be rolled into Xcode, Apple’s suite of development tools for iOS, macOS, watchOS and tvOS. As for Buddybuild's existing cu...
Apple Apologizes After Outcry Over Slowed iPhones
News

Apple Apologizes After Outcry Over Slowed iPhones

Facing lawsuits and consumer outrage after it said it slowed older iPhones with flagging batteries, Apple Inc is slashing prices for battery replacements and will change its software to show users whether their phone battery is good. In a posting on its website Thursday, Apple apologized over its handling of the battery issue and said it would make a number of changes for customers “to recognize their loyalty and to regain the trust of anyone who may have doubted Apple’s intentions.” Apple made the move to address concerns about the quality and durability of its products at a time when it is charging $999 for its newest flagship model, the iPhone X. The company said it would cut the price of an out-of-warranty battery replacement from $79 to $29 for an iPhone 6 or later, starting ...
Huawei’s China Smartphone Sales Chief Detained For Suspected Bribe-Taking
CHINA

Huawei’s China Smartphone Sales Chief Detained For Suspected Bribe-Taking

Huawei Technologies, the world’s third-largest smartphone maker, said on Wednesday that Chinese police are conducting an investigation, after the China sales head of its smartphone unit was detained on suspicion of accepting bribes. Huawei, which in recent years has overtaken Apple Inc and others to take the top share of China’s smartphone market but is now under pressure from fast-growing domestic rivals, declined to disclose details of the case. “The authorities are investigating the matter, and we defer to their discretion as to what can be disclosed,” the company said in e-mailed comments to Reuters when asked about the case. “We take our business ethics extremely seriously, and have zero tolerance for corrupt behavior.” It gave no further comment. In an internal memo to st...
2017 Was A Very Happy Year For Apple’s Tim Cook With A Total Payout Cheque Of $102M
INSPIRATIONAL

2017 Was A Very Happy Year For Apple’s Tim Cook With A Total Payout Cheque Of $102M

Turns out the year 2017 for iPhone maker Apple Inc's chief executive officer Tim Cook was very happy. In a recent regulatory filing by Apple, it was revealed that Tim received a 74 percent increase in his annual bonus for fiscal 2017. Cook's incentive pay totaled around $9.3 million for the year ending September. He also took home $3.06 million in salary and a previously disclosed equity award of $89.2 million, bringing his total payout for the year to about $102 million. According to Bloomberg, his top five lieutenants each got bonuses of $3.11 million, bringing their total compensation to about $24.2 million each, including salaries and stock awards. Apple has increased the proportion of performance shares in its equity awards, which boosts potential future earnings for the ...
Apple Faces Lawsuits After Saying It Slows Down Aging iPhones
News

Apple Faces Lawsuits After Saying It Slows Down Aging iPhones

Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change. The tweak may have led iPhone owners to misguided attempts to resolve issues over the last year, the lawsuits contend. All the lawsuits - filed in U.S. District Courts in California, New York and Illinois - seek class-action to represent potentially millions of iPhone owners nationwide.  A similar case was lodged in an Israeli court on Monday, the newspaper Haaretz reported. Apple did not respond to an email seeking comment on the filings. The company acknowledged last week for the first time in detail that operating system updates...