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Tag: asia

  • China to become major buyer of Vietnam’s garments

    China to become major buyer of Vietnam’s garments

    China is set to become a major export market for Vietnam’s textile and garment industry, making up for the lull in traditional markets like Japan and the EU.

    According to Vietnam National Textile and Garment Group (Vinatex), Covid-19 has rendered some of the main markets unstable. For example, the E.U. is facing the risk of a pandemic resurgence, while Japan’s economy is yet to revive. Therefore, Vietnam’s textile and garment exports to these two markets are not expected to rise this year.

    Meanwhile, China has indicated in its 14th five-year plan that it will not concentrate on textile and garment production in the 2021-2025 period.

    Vietnam’s textile and garment exports to China in Q1 experienced the highest growth among the five largest textile and garment export markets (the U.S., Japan, South Korea, E.U., and China), Vinatex reported. Textile and garment export value to China during the period was as high as that to the E.U. at $680 million.

    One challenge for Vinatex this year is the falling demand of office wear, which is one of the group’s main products. Amidst the pandemic, consumers prefer casual wear and sportswear. Another difficulty is that inflation is expected to rise this year, resulting in higher lending rates and increased financial expenses.

    Vinatex targets revenues of VND1.5 trillion ($66 million) this year, up 5 percent year-on-year, and pre-tax profit of VND201 billion, up 37 percent. The group said it will continue to divest from ineffective companies this year.

    Vietnam’s textile and garment exports in the first five months of 2021 hit $12.2 billion, up 15 percent year-on-year, according to the General Statistics Office.

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  • UOB Pilots Digital Signature Authorization

    UOB Pilots Digital Signature Authorization

    The initiative will remove one of the roadblocks – the need for physical signatures – in fully digitalizing the documentation process.

    UOB is starting a 12-month trial to test the use of Government Technology Agency’s (GovTech) Sign with Singpass among its retail and corporate customers, which will be used to confirm transactions such as individual wealth planning services and the PayNow Corporate application using a customer’s digital signature, the bank announced on Thursday.

    The features feature enables customers to use Singpass – the digital identity for Singapore residents that is identifiable and uniquely linked to the user – to sign electronic documents digitally via the Singpass app.

    The bank said it is pushing this innovation as research shows that COVID-19 has accelerated the move to online services, with more than 65 percent of customers expecting banking services to be digital by default.

    The change in customer expectations and experience during COVID-19 has made it imperative that we explore and extend our digital capabilities across more of our financial services and products, Susan Hwee, UOB head of group technology and operations, said in the announcement.

    UOB plans to expand the service to include more of its products and services for both the retail and wholesale segments in Singapore, and to expand its electronic signature capability to the region from 2022.

    One benefit from the move to e-signatures is its reduction of paper usage – more than 2 million multi-page hardcopy documents each year, which in turn will save more than 700 trees per year, once rolled out across its markets.

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  • Alibaba Cloud invests US$1 billion to nurture Asia-Pacific digital talent pool

    Alibaba Cloud invests US$1 billion to nurture Asia-Pacific digital talent pool

    Alibaba Cloud, the digital technology and intellectual backbone of Alibaba Group, launched Project AsiaForward with an initial USD1 billion funding and resources to cultivate a million-strong digital talent pool, empower 100,000 developers and the growth of 100,000 technology startups in Asia Pacific (APAC) over the next three years. Unveiled during the Alibaba Cloud Summit 2021, the project forms part of the cloud provider’s strategy to invest in infrastructure, technological innovation and talent development to contribute to local economic growth through digital transformation as the trusted cloud leader in APAC.

    “Innovative technology is critical to the recovery from COVID-19 while a strong pipeline of talent well versed in digital applications is needed to support the sustainable development of today’s digital economy. We are seeing a strong demand for cloud-native technologies in emerging verticals across the region, from e-commerce and logistics platforms to FinTech and online entertainment,” said Jeff Zhang, President of Alibaba Cloud Intelligence. “As the leading cloud service provider and trusted partner in APAC, we are committed to bettering the region’s cloud ecosystem and enhancing its digital infrastructure. Our focus on innovation and data center investments, as well as talent development is in anticipation of a digital-first future.”

    In the Philippines, the company is to launch its first data center by the end of this year, signaling its continued support for the digitalization of local businesses through a variety of products and services including Elastic Compute Service (ECS), database, global network solution, Content Delivery Network (CDN) and storage services. This investment is the latest in Alibaba Cloud’s growing commitment in the country, focusing on the banking, FinTech, retail, logistics and education sectors, among others.

    In Malaysia, Alibaba Cloud is to build its first international innovation center. In collaboration with local partner Handsprofit, the company is offering a one-stop innovation enablement platform for Malaysian small- and medium-sized enterprises (SMEs), startups and developers looking to push the technological frontier. Various cloud technology and business leadership trainings will be offered through the platform, as well as the nurturing of an ecosystem for venture capital networking.

    In Indonesia, Alibaba Cloud has officially launched the third data center, starting to serve customers with offerings across database, security, network, machine learning and data analytics services. The additional center allows Alibaba Cloud to better support local businesses interested in adopting cloud technology and advance Indonesia’s push for a digital society. Alibaba Cloud currently operates 75 availability zones in 24 regions around the world.

    Alibaba Cloud’s talent development ambitions are embedded in Project AsiaForward’s three core programs – DigiTalents Forward, focused on digital upskilling, AI Forward, targeting developers and DigiEntrepreneurs Forward, aimed at connecting promising business ideas with venture capital and real-life opportunities. The company has also kicked off the DigiTalents Forward programme in Singapore with the School of Computer Science and Engineering (SCSE), and NTU-Alibaba Singapore Joint Research Institute (JRI) at Nanyang Technological University. The parties are planning to launch a variety of AI courses under NTU’s MiniMasters programme.

    “Our strategic roadmap for APAC includes targeted investments to facilitate the digital transformation of local businesses. We see these investments as all the more timely given the impact of the pandemic and the sharp rise in demand for digital business tools. Equally important is our focus on talent development and nurturing a digitally-competent workforce, which we see as a key challenge for many businesses to overcome going forward,” said Selina Yuan, General Manager of International Business Unit, Alibaba Cloud Intelligence.

    During the summit, Alibaba Cloud also launched a range of products and solutions as part of its continued effort to support the digital transformation of industries. Among those launched were new livestreaming solutions, IT infrastructure products and cloud native data management services.

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  • Ex-J.P. Morgan Exec Joins UBS Private Markets Unit

    Ex-J.P. Morgan Exec Joins UBS Private Markets Unit

    UBS Global Wealth Management has hired a former J.P. Morgan executive to join its direct investment group.

    Edith Chan joins UBS Global Wealth Management as its Greater China head of direct investment group distribution, according to an internal memo, effective June 21.

    A spokesperson for the bank confirmed the hire.

    Chan rejoins the Swiss bank after previously serving in a similar role as its Greater China head of private markets distribution. She was most recently with J.P. Morgan where she also focused on private markets between 2018 and 2020. She previously worked with various private banks and asset managers including HSBC Private Bank and Deutsche Bank.

    UBS’ direct investment group focuses on investing in private companies via direct participation in primary and secondary equity share placements.

    It is also active in private debt and credit placements as well as real estate and infrastructure funds.

    UBS sources such deals globally from its investment bank, asset manager and network of blue-chip financial sponsors.

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  • Alibaba To Develop Self-Driving Trucks With Logistics Unit Cainiao

    Alibaba To Develop Self-Driving Trucks With Logistics Unit Cainiao

    Chinese e-commerce leader Alibaba Group Holding Ltd plans to develop self-driving trucks with logistics subsidiary Cainiao, Chief Technology Officer Cheng Li said on Thursday.

    Cheng also said Cainiao aims to introduce 1,000 autonomous delivery robots in China over the next year.

    The announcement comes as dozens of startups, automakers, and large technology firms, such as internet search leader Baidu Inc, accelerate work on self-driving vehicle systems, which are widely expected to bring a sea change to the transportation industry.

    Other self-driving truck makers include U.S. firm TuSimple Holdings Inc, which listed shares in April.

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  • Netflix Online store offers limited-edition merchandise

    Netflix Online store offers limited-edition merchandise

    Netflix will launch an online store to sell limited-edition apparel, lifestyle merchandise, and collectibles based on Stranger Things, Lupin, and other popular shows, the streaming giant said on Thursday.

    Netflix.shop will be available in the United States starting on Thursday and expand to other countries in the coming months, Netflix said in a blog post.

    The video streaming pioneer is facing a growing list of competitors offering their own streaming services with new movies and TV shows. In April, Netflix fell short of Wall Street projections for new subscribers.

    The online store offers a new source of revenue for Netflix and expands its product line beyond the items it sells through partners such as Target and Walmart.

    Merchandise in the online shop will be “carefully selected high-quality apparel and lifestyle products,” the company said.

    Items debuting this month include streetwear and action figures based on anime series Yasuke and Eden” and apparel and decorative items inspired by French crime thriller Lupin, Netflix said. The Lupin products were developed with the Louvre museum.

    In the future, the company plans to introduce products based on hit series “The Witcher” and “Stranger Things” and Netflix logo-wear from Japanese fashion house BEAMS.

    Netflix has also created video games based on shows Stranger Things and La casa de Papel (Money Heist).

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  • SoftBank-backed DoorDash enters Japan

    SoftBank-backed DoorDash enters Japan

    U.S. food delivery firm DoorDash, which is backed by SoftBank Group, announced the launch of services in Japan on Wednesday, joining an increasingly crowded market that has grown during the COVID-19 pandemic.

    Services will be initially limited to the city of Sendai in Miyagi prefecture, the money-losing delivery firm told reporters, in a step that follows its expansion to Canada and Australia.

    “Our strategy has always been to empower local economies, especially in the suburban markets that are historically underserved, yet the appetite for connectivity between merchants and customers is high,” Chief Executive Tony Xu said in a statement.

    SoftBank already backs some of the largest delivery services in Japan, such as Uber Eats from Uber Technologies and Demae-can.

    Last month, DoorDash raised its forecast for annual gross order value, as stimulus checks helped keep food delivery demand resilient in the first quarter, even as vaccinations and an easing of curbs encouraged dining out again.

    DoorDash, which has also branched out into delivery from grocery and convenience stores last year, reported a nearly three-fold jump in quarterly revenue to $1.08 billion.

    The company has seen a surge in order volumes during the pandemic as consumers hesitant to step out order essential items by telephone.

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  • Giphy’s Clips now integrated with Apple’s iMessages

    Giphy’s Clips now integrated with Apple’s iMessages

    GIF database and search engine Giphy announced today that its “Clips” content (short GIFs with sound) will be supported by Apple’s iMessage and in the Android Keyboard. In a press release disseminated today by Giphy, the company said, “You know that moment when someone sends you the perfect GIF and you can practically hear it. Whether it’s a familiar character or simply the perfect visual representation of your emotions, there is a very specific sound you associate with it. At Giphy, we definitely know the feeling.”

    Giphy says that it has been working hard to bring Clips to every platform where conversations happen. The company adds that “You can already share Giphy Clips anywhere using the video’s URL and can even access them in places like Slack and Medium. But, starting today, you can find and share Clips even more easily in messaging via Giphy’s iMessage Extension and in the Android Keyboard.”

    Version 4.2.5 of the iOS and Android Giphy apps have just been launched from the App Store and Google Play Store respectively. Giphy says that “it is the fastest, simplest way to search and share GIFs and stickers across all of your favorite social channels. Enjoy our powerful GIF Keyboard and iMessage extensions that put Giphy at your fingertips. Spruce up boring conversations with our Emoji and Text libraries – exclusively available in the mobile app.”

    Giphy states that Clips brings a whole new dimension to self-expression. The world’s largest library of free GIFs, Clips, & Stickers, Giphy for iOS is the fastest, simplest way to search and share short-form content and animated reactions across all of your favorite social channels such as Facebook Messenger, Instagram, Snapchat & more.”

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  • Temples inspire design of Uniqlo’s latest Tokyo retail store

    Temples inspire design of Uniqlo’s latest Tokyo retail store

    Uniqlo opened the doors of its newest large-format store on Friday, in the historic and culturally significant neighborhood of Asakusa. The store follows the concept of “our neighborhood” and aims to support the area’s local businesses, residents, and artisans.

    With a selling area of more than 21,000 square feet, Uniqlo Asakusa also boasts one of the longest continuous store windows of any Uniqlo store. It is located in the heart of Asakusa, which prior to the COVID-19 pandemic was bustling with international tourists on any day of the week. The area is known for its historic pedestrian lanes lined with souvenir stores and leading up to Senso-ji, Tokyo’s oldest Buddhist temple and one of its most significant. It is also a district that hosts the workshops and stores of many traditional craftspeople, some of whom Uniqlo featured in various ways inside the store.

    The double-level main entrance to the store is dominated by a giant paper and wooden lantern, which was created by a local workshop and hand-painted with the Uniqlo logo. At nearly six feet per side, it was both the largest lantern the shop had ever created, as well as the first cubic one. In addition, signage used throughout the store was inspired by “senjafuda” votive strips that are a common sight at temples and shrines across Japan.

    Uniqlo also collaborated with local businesses on various products to mark the opening of the store. For example, small ceramic plates designed with traditional snack-maker Asakusa Tokiwado will be available for sale in limited quantities, while original teacups will be given to the first 3,000 customers to spend 5,000 yen or more during the opening weekend. There are also original UTme! stamps that are only available at the Asakusa store to use in customizing T-shirts and tote bags.

    Throughout the store, Uniqlo has highlighted products from local shops, from stationery to skateboards, encouraging customers to explore the neighborhood in order to purchase such items and discover others. Other features of the store include a larger than usual space where customers can try on and order tailor-made items, areas highlighting sustainability and fitting rooms that feature artworks by a local artist, and photographs of Asakusa from the past and present.

  • Aldi named top supermarket by customers

    Aldi named top supermarket by customers

    Aldi has been deemed 2020’s supermarket of the year in Roy Morgan’s latest customer satisfaction awards.

    Roy Morgan CEO Michele Levine said supermarkets become some of the most trusted brands in the country last year due to the integral role they played during the first national lockdown, keeping Australia’s communities safe and fed.

    “Many businesses, and particularly those in retail and hospitality, faced a major threat to their way of doing business in 2020 as a nationwide closure early in the year forced many to close – at least temporarily,” said Levine.

    “The good news for the businesses hit hardest with the lockdowns was that they proved effective with most of Australia spending the remainder of 2020 in relative normality compared to the rest of the world.”

    The survey is calculated from an annual survey of 50,000 Australians and previously led Aldi to win the best supermarket in 2016, 2014, and 2012.

    “We are hugely excited to be recognized as Australia’s Best Supermarket by Roy Morgan. We are continuously striving to deliver the highest quality products at the lowest prices possible, and it’s clear this commitment is resonating with customers year in and year out,” said Aldi Australia group director Simon Padovani-Ginies.

    “We are proud to receive this award and aim to continue to live up to shoppers’ expectations that ALDI is Australia’s best supermarket by delivering exceptional value every time they shop.”

    Aldi was also named ‘mobile phone service provider of the year’ for 2020, beating out traditional telcos.

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  • HCMC stock exchange to test South Korean system

    HCMC stock exchange to test South Korean system

    Vietnam’s overloaded main bourse, the Ho Chi Minh Stock Exchange, next week will begin testing a new system from South Korea which it plans to use later this year.

    The system would have the capability to handle “many times more” transactions than now, Le Hai Tra, CEO of the exchange, said.

    A temporary system from FPT, which has been tested in recent months to deal with the overload, would serve as a backup, he added.

    HoSE signed a deal for the system in 2012 with the Korea Exchange at a cost of VND600 billion ($26.16 million).

    But since last year South Korean experts could not come to Vietnam due to the Covid-19 pandemic, and so installation was delayed.

    A record number of new investors in recent times has placed an extreme strain on HoSE’s outdated system.

    The bourse increased the trading lot from 10 shares to 100 and instructed brokerages to stop order changes and cancelations to reduce the number of transactions.

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  • JBS Foods paid hackers US$11 million to end ransomware attack

    JBS Foods paid hackers US$11 million to end ransomware attack

    Meatpacker JBS USA paid the equivalent of $11 million ransom in a cyberattack that disrupted its North American and Australian operations, the company’s CEO has said in a statement.

    The subsidiary of Brazilian firm JBS SA halted cattle slaughtering at all of its US plants for a day last week in response to the cyberattack, which threatened to disrupt food supply chains and further inflate already high food prices.

    The cyberattack followed one last month on Colonial Pipeline, the largest fuel pipeline in the US. It disrupted fuel delivery for several days in the nation’s Southeast.

    The JBS meat plants, producing nearly a quarter of America’s beef, recovered faster than some meat buyers and analysts expected.

    “This was a very difficult decision to make for our company and for me personally,” said Andre Nogueira, CEO of JBS USA of the ransom payment. “However, we felt this decision had to be made to prevent any potential risk for our customers.”

    The Brazilian meatpacker’s arm in the US and Pilgrims Pride Corp, a US chicken company mostly owned by JBS, lost less than one day’s worth of food production. JBS is the world’s largest meat producer.

    Third parties are carrying out forensic investigations and no final determinations have been made, JBS said. No company, customer or employee data was compromised in the attack, it said.

    A Russia-linked hacking group is behind the cyberattack against JBS, a source familiar with the matter said last week. The Russia-linked cyber gang goes by the name REvil and Sodinokibi, the source said.

    The Wall Street journal reported on Wednesday that the JBS ransom payment was made in bitcoin.

    The Justice Department on Monday recovered some $2.3 million in cryptocurrency ransom paid by Colonial Pipeline Co, cracking down on hackers who launched the attack.

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  • Mercedes-Benz India Has No Plans To Launch The EQS Or Any Other EV This Year

    Mercedes-Benz India Has No Plans To Launch The EQS Or Any Other EV This Year

    Despite the challenges caused by the second wave of the COVID-19 pandemic, Mercedes-Benz India has been among the select few carmakers that have stayed on course with regard to product launches. The Stuttgart-based luxury carmaker has confirmed that it will launch 15 new models in India this year, however, that will not include any electric vehicles. When asked about the launch timeline for the EQS, during the post-launch interaction for the Maybach GLS 600, Santosh Iyer, VP – Sales & Marketing, Mercedes-Benz India confirmed that the company has no plans to launch the EQS or any other EV at least for next one year.

    Talking about the company’s product plan with regards to the EQS and other electric vehicles, Iyer said, “The EV portfolio for Mercedes-Benz is strong. You already saw the EQA, the EQB, there are many products that are getting launched. So, we’ll pick up the right products and definitely, surely introduce them in India. But, for now, the EQC remains our key driver when it comes to the volumes here. Again, we are struggling with the availability of EQC so no point in again launching more EVs and putting some confusion in the market at this stage. Also, EQS is available for sale only in the last part of the year, even worldwide. So, nothing in the next one year at least as far as the EQS or anything else goes.”

    Iyer pointed out that a lot of these electric vehicles introduced globally are high on demand worldwide, and they will make it other markets gradually. Assuring that India is a priority market for the brand, he said that there is no point in launching a product and not being able to cater to the demand. Right now, it’s even struggling with the demand for the EQC. So, before bringing a high-value product like the EQS electric sedan, the carmaker wants to get some volume and certain clarity.

    Having said that, Mercedes-Benz India has already listed its flagship electric vehicle – the EQS on its official website. When asked what that means for the Indian market, Iyer said, “For us electric is not an option. It is something that the automotive industry will transform, and we take pride that in India we were the first to start, and we’ll now continue to bring in new products. As regards that EQS, I think that a statement in terms of our brand, in terms of our commitment to electric.” He further added, “I think the EQS transforms, it makes a paradigm shift into the technology scape, into the luxury space apart from being a very good EV in terms of driving, in terms of battery charging, and some of the other dynamics. So, it was natural for us when there is a global unveil of such a product, which is now our flagship when it comes to the EV story to be there on our website.”

    The Mercedes-Benz EQS is the company’s flagship electric vehicle, and it was just in April 2021 that the sedan version of the EV made its debut. Mercedes also plans to introduce an SUV version of the EQS, which is likely to make its global debut in late 2022. The EQS sedan comes with a 107.8 kWh Lithium-Ion battery, promising a 770 km WLTP cycle certified drive range on a full charge. However, the carmaker has not provided detailed variant-wise range options. The car comes with a standard onboard charger of 11 kW with an optional 22 kW charger. The EQS can be charged from 10 to 80 percent in 35 minutes using a 110 kW DC fast charging, while a 240-volt household wall charger will take 11 hours for the same range.

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  • Royal Enfield To Launch Most Number Of Models In FY 2022

    Royal Enfield To Launch Most Number Of Models In FY 2022

    Royal Enfield is getting ready to launch the most number of new motorcycle models this year than ever before, and several models are planned during the current financial year. As Royal Enfield looks to strengthen its grip on the mid-size motorcycle segment, not just in India, but across the world, the company is looking to introduce several new models in FY 2022. Royal Enfield’s Classic 350 is the brand’s highest-selling model, and the company is getting ready to launch a new model of the Classic 350, based on the new Meteor 350 platform, with an all-new 350 cc engine and double-cradle frame.

    During a recent conference call with analysts, Royal Enfield CEO Vinod Dasari said, “We have a very exciting pipeline. This year will probably see the highest number of new models that is seen from Royal Enfield in a year. And that is just the beginning of the pipeline.”

    Over the past few months, Royal Enfield launched the all-new Meteor 350, built on a new 350 cc platform, and launched the updated Himalayan, apart from introducing new colors on the 650 Twins, the Interceptor 650, and the Continental GT 650. While Dasari did not elaborate on the new models that Royal Enfield will be launching during this financial year, the new Classic 350, and a 650 cc cruiser are expected to be introduced.

    “We will continue to have one new model every quarter. Because there is a delay due to COVID right now, I don’t think we will squeeze everything in but there are some very big models coming in. We are very excited about it. We will have to do all the marketing and market preparedness for that,” Dasari added.

    Royal Enfield has also trademarked several new names, like Hunter, Sherpa, Roadster, as well as Shotgun and Scram more recently. Two new cruiser models on the 650 Twins platform are expected to be introduced, while the 350 cc J-Platform of the Meteor 350 could also see a retro roadster, called the Hunter 350, apart from the new Classic 350. The Scram name could be for a production scrambler based on the 650 cc platform, while the Sherpa could be a new, lighter adventure model based on the Himalayan.

  • Google releases Android 12 beta 2 to compatible Pixel models

    Google releases Android 12 beta 2 to compatible Pixel models

    Pixel owners are another step closer to receiving Android 12 as said today that Google has started to push out Android 12 beta 2 to Pixel users. The update includes several of the new privacy features being added to the operating system with the new build including a 24-hour timeline showing which apps have accessed your phone’s camera, microphone, and location data.

    Another feature found in the new beta is a message that pops up to alert you when an app is reading your clipboard. Since users often copy important account numbers or passwords on their clipboards, it is important to know who is getting to read this data. The only time this message doesn’t appear is when the data on the clipboard that an app can read was copied from that very app.

    Similar to the Orange and Green dots found above the cell signal bars on an iPhone (which indicates when an app is using your handset’s microphone and camera respectively), Android 12 beta 2 users will see microphone or camera indicators when apps are using those two sensors.

    A new “Internet” tile in Quick Settings will show you your phone’s online connections including the name of your Wi-Fi network. Tapping on the Wi-Fi icon will allow you to quickly disable your Wi-Fi connection and will also show you a list of nearby Wi-Fi signals and give you the option to turn off/on your cellular network. The update also adds a GPay tile to Quick Settings to replace “Cards & passes.”

    To become an Android 12 beta tester for your Pixel, open the Android Beta Program site and tap the button that says “View your eligible devices.” Follow the directions and you’ll receive the Android 12 beta 2 update OTA. Once you receive notification that the update is on your phone, go to Settings > System > Advanced > System update.

    If your Pixel is your daily driver, you might want to wait for the final version of Android 12 before installing it. After all, the Android 12 beta 2 update is not stable and apps that you might need for work or play might not be working at full capacity during the beta testing.

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