Retail News CRM

Tag: Los Angeles

  • Apple Shares Fall 4% as Rising Memory Costs Threaten Gross Margins

    Apple Shares Fall 4% as Rising Memory Costs Threaten Gross Margins

    Apple shares dropped about 4 per cent in premarket trading on Tuesday, putting the tech giant on track to lose over $170 billion from its $4.94 trillion valuation. The decline followed executive warnings that escalating memory component costs will squeeze profitability.

    Chief Executive John Ternus delivered his first earnings report on Monday, describing the current memory-pricing climate as “unprecedented” and cautioning that cost pressures will extend beyond the quarter ending in December. The company expects gross margins for the period to slip to between 45 per cent and 46 per cent.

    That guidance marks a contraction from the 47.9 per cent gross margin reported for the September quarter, even after factoring in tariff refunds. The cost squeeze comes as Apple exhausts the advantage of earlier, lower-priced memory inventories, leaving fresh hardware manufacturing exposed to higher market rates.

    Component Inventories Diminish

    The hardware manufacturer had managed production costs throughout 2026 by tapping stockpiles of memory purchased under earlier, cheaper contracts. Those reserves are now depleted. Fresh component purchases reflect elevated spot and contract rates, exposing hardware production directly to wholesale price spikes.

    Rising memory bills arrive alongside operational expenses from rolling out generative features across the Siri ecosystem. Apple must now pay more for core memory silicon inside every handset while spending heavily on server infrastructure to process assistant queries. For regional consumer electronics retailers, higher component inputs point toward wholesale price increases across upcoming device cycles.

    Flagship Demand Carries Fourth Quarter

    The margin compression follows a record September quarter for iPhone revenue despite broader consumer spending headwinds. Handset sales reached $57.58 billion, clearing market forecasts of $56.54 billion.

    Apple achieved that total using a staggered device launch that offered only the top-tier 18 Pro models during the final days of its fiscal 2026. The baseline Duo models did not ship during the period. The reliance on premium tiers cushioned top-line numbers, but it narrows the cushion available when factory-gate component bills climb across every tier.

    We see the flagship iPhone as the linchpin of this ecosystem, from which Apple derives pricing power, switching costs, and a network effect

    Valuation Gaps and Supply Chain Risks

    The company enters the holiday quarter trading at nearly 35 times expected 12-month earnings. That multiple sits well above rival tech platforms, with Alphabet trading at 18.23 times and Microsoft at 23.43 times forward earnings. Such a premium leaves little leeway when gross margins contract by two to three percentage points.

    Device vendors across Asia face identical supply crunches, yet Apple commands the balance-sheet scale to secure volume allocation ahead of smaller competitors. If higher retail tags depress consumer upgrade cycles across key Asian markets, hardware revenue will take the brunt of the downturn.

    The immediate indicator remains gross margin execution for the December-ending period, where management must hold the guided 45 per cent floor while absorbing continuous memory cost revisions.

  • Netflix Replaces Content Head Bela Bajaria with Peter Rice Following 1,000 Job Cuts

    Netflix Replaces Content Head Bela Bajaria with Peter Rice Following 1,000 Job Cuts

    Netflix named former Walt Disney television chairman Peter Rice as its chief content officer on Thursday, replacing Bela Bajaria a day after cutting 1,000 jobs.

    The management overhaul follows a six per cent reduction in global headcount, marking the company’s steepest round of layoffs since 2022.

    Rice assumes responsibility for Netflix’s worldwide programming slate on October 26. His remit covers scripted and unscripted television series, feature films, and live broadcasts across all geographic territories. Rice previously ran Walt Disney Television and served as chairman of general entertainment at The Walt Disney Company after earlier leadership roles at 21st Century Fox.

    Executive turnover and restructuring

    Bajaria exits after ten years at the company. She joined Netflix in 2016 following her departure from NBCUniversal, where she ran Universal Television. Netflix co-chief executive Ted Sarandos initially hired her to build an unscripted television slate, alongside licensing deals and co-productions with external studios.

    Her rise through the executive ranks accelerated in 2020 when she became head of global television following the departure of Cindy Holland. Netflix promoted Bajaria to chief content officer in January 2023, placing her in charge of commissioning budgets that produced breakout global titles including Squid Game, Bridgerton, Wednesday, Beef, and Stranger Things. Film projects developed during her leadership included KPop Demon Hunters and Frankenstein.

    The content department restructuring reaches beyond top leadership. Netflix dismissed film vice president Doug Belgrad and film director Sheroum Kim this week as part of the broader staff reduction.

    Content economics and engagement pressure

    Streaming operators across Asia-Pacific face tightening production discipline as subscriber growth slows and returns on commissioned originals decline. Big-budget regional scripted productions carry high upfront risk, forcing platforms to balance expensive local prestige drama with low-cost unscripted formats and live sports broadcasting.

    Platforms such as YouTube and TikTok continue to siphon viewer minutes with user-generated video that costs nothing to produce. That shift leaves subscription video providers carrying heavy production balance sheets at a structural cost disadvantage against ad-supported social video platforms.

    Declining awards and shifting focus

    Prestige recognition for Netflix originals dropped sharply heading into the executive change. The service collected 16 Primetime Emmy Awards in 2026, down from 30 wins in 2025 and well below the record 44 awards it secured in 2021. The tally represents the platform’s smallest Emmy total in ten years.

    Sarandos credited Bajaria with broadening the company’s catalogue into unscripted programming and live events, including multi-year broadcast agreements with the NFL and WWE as well as live specials such as The Roast of Tom Brady.

    “I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” Sarandos said in a statement.

    The schedule ahead

    Rice takes direct operational control of the programming pipeline on October 26 as Netflix finalises its production slate and capital allocation targets for 2027.

  • TCL Sues Samsung in US Court over Alleged Mini LED Television Claims

    TCL Sues Samsung in US Court over Alleged Mini LED Television Claims

    Chinese electronics manufacturer TCL sued Samsung in Los Angeles federal court, accusing its South Korean competitor of falsely marketing standard screens as Mini LED televisions.

    The complaint targets Samsung’s M Model line, which launched in March at price points below TCL’s entry-level display range. TCL claims the rival sets contain conventional LED hardware rather than the smaller, high-contrast diodes required for true Mini LED performance.

    Dispute Over Screen Technology

    According to the filing, TCL held the lead in US Mini LED television sales between 2023 and 2025 after pricing its units below Samsung’s premium lines. TCL attorney R.C. Harlan stated that Samsung peddled a recycled product line as a supreme tier model to claw back retail buyers.

    Samsung rejected the claims on Tuesday. The company said it intends to vigorously defend itself in court and stands fully behind the accuracy of its product specifications.

    Fight for US Market Share

    Chinese display makers have steadily squeezed South Korean rivals by scaling up advanced panel manufacturing in mainland factories, driving down retail prices across Western markets. While Samsung built its dominance on premium OLED and Quantum Dot hardware, TCL used competitive Mini LED pricing to erode Samsung’s volume share in major retail chains.

    TCL is asking the court for an injunction to halt Samsung’s Mini LED marketing claims alongside unspecified monetary damages. The case now moves toward initial procedural hearings in the Central District of California.

  • VinFast announces US headquarters in Los Angeles

    VinFast announces US headquarters in Los Angeles

    VinFast on Wednesday announced its U.S. headquarters will be located in Los Angeles, California, affirming its goal to become a global automaker spearheaded by electric vehicles.

    The company’s U.S. headquarters is located in the Playa Vista area – a neighborhood known as “Silicon Beach” and packed with tech firms in Los Angeles.

    “We are so proud to welcome VinFast to our city as we continue leading the way to a better-connected, cleaner, and more sustainable transportation future,” said Los Angeles Mayor Eric Garcetti.

    The headquarters is over 15,000 square feet (1,393 square meters) with room to expand.

    VinFast intends to establish its management team and hire more than 400 employees at its headquarters and a regional office in Los Angeles within the next several years.

    In addition to its corporate headquarters in Los Angeles, VinFast is investing in regional offices, a call center, and a network of storefronts to help introduce the brand and products to American customers.

    VinFast’s decision to place its U.S. headquarters in California was due in part to a $20.5 million tax credit awarded by the California Governor’s Office.

    The California government’s announcement, released on Nov. 5, builds on VinFast’s investment of more than $200 million in its initial phase in California, thus creating over 1,000 new, full-time jobs statewide.

    VinFast, a unit of Vietnam’s conglomerate Vingroup, will officially debut two of its first electric vehicles, the VF e35 and VF e36, at Los Angeles Auto Show that begins this week.

    Lees ook:

  • Shinsegae’s Emart to bring its fancy PK Market store to LA next year

    Shinsegae’s Emart to bring its fancy PK Market store to LA next year

    Discount chain Emart will launch its PK Market grocery store chain in downtown Los Angeles in the second half of next year.

    This is Emart’s first expansion into the U.S. market.

    The company said that it signed a 10-year contract on a 4,803-square-meter (1.18-acre) space inside LA Jewelry Mart, which is located in the Jewelry District of Downtown Los Angeles.

    “As the rent contract was signed, we’re now able to further embark on procedures to plan for our business in the United States,” Emart said in a statement.

    During the contract period, Emart will occupy three floors of the six-floor building. PK Market will take up the basement and second floors, while the third floor is planned to be used as an office for the local discount chain.

    This red-brick structure was built in 1916 and was first used to house the Ville de Paris department store. In the building’s early days, the neighborhood was the city’s commercial center and had one of the largest jewelry districts in the United States.

    Downtown Los Angeles lost its shine in recent decades compared to other areas of the city, but development projects in the area have increased lately as more people and proprietors are getting interested in the charm of the old district.

    Emart said it approved of the location, considering that there are a number of ongoing developments that will transform the area once they are completed.

    “The building itself sits inside the Historic Core where the city office is, near South Park and the Financial District – it’s a part of town that has quite a floating population,” the company said.

    Emart’s plan to take its brick-and-mortar business to the United States – a rare move for a Korean retailer – was unveiled in March by Shinsegae Vice President Chung Yong-jin. Chung said the U.S. version of PK Market will present a wide array of Asian foods, including Korean products.

    PK Market currently has branches in the Starfield malls in Hanam and Goyang, Gyeonggi. It is built around a “grocerant” concept, in which restaurants, food stalls and a high-end grocery store coexist in one space.

    Emart added that, while the concept will remain the same, the name PK Market may be changed for the U.S. market.

    Lees ook:

    Lees ook:

  • Vietnam confirms plan to fly non-stop to California in 2018

    Vietnam confirms plan to fly non-stop to California in 2018

    Vietnam’s government has approved plans to expand its air network to major markets including Australia, China, Europe and the United States starting from this year.

    According to the plan, Vietnam Airlines will go through with its proposal to open non-stop services to the U.S., starting with direct flights to the west coast in 2018. The national carrier is considering between San Francisco and Los Angeles.

    The U.S. proposal was revealed a couple of years ago and received much excitement, given busy travel between the countries. The U.S. is the fourth largest source of foreign visitors to Vietnam, with more than 614,000 people coming in 2017, up 11 percent from the previous year, according to the General Statistics Office.

    Aircraft manufacturer Airbus said in September 2016 that it had signed an MoU with Vietnam Airlines to deliver 10 A350-900 aircraft, which will be used for non-stop flights to the U.S.

    But the giant economy across the Pacific is just part Vietnam’s sky plan.

    For its neighbor China, Vietnam is set to open dozens of new flights by 2020.

    The new routes will connect Can Tho, Da Lat, Da Nang, Hai Phong, Hue, Nha Trang and Phu Quoc Island of Vietnam with at least 17 Chinese destinations: Changchun, Chongqing, Dalian, Fuzhou, Guilin, Guiyang, Haikou, Hainan, Harbin, Lanzhou, Ningbo, Shenyang, Wuhan, Xi’an, Xiamen, Xishuangbanna and Zhengzhou.

    Current flights to Beijing, Chengdu, Guangzhou and Shanghai will increase passenger load by adding to their frequency and using bigger aircraft, according to the development plan which has been approved by Prime Minister Nguyen Xuan Phuc.

    Chinese passengers to Vietnam surged nearly 50 percent to more than 4 million in 2017, accounting for nearly a third of foreign arrivals to the country.

    Vietnam’s aviation development plan also involves new flights to Australia, France, India, Japan, Malaysia, Russia, South Korea, Thailand, and the U.K., all of which now benefit from Vietnam’s e-visa and visa waiver programs.

    The country welcomed nearly 13 million foreign visitors and raked in nearly VND515 trillion ($22.7 billion) from tourism in 2017. It hopes the new air routes will bring the number of visitors up to 17-20 million in the next two years, when tourism money will contribute 10-12 percent to the economy, compared to the current 7 percent.

    Lees ook:

    Lees ook:

  • Los Angeles’ Dita opens second store in Tokyo

    Los Angeles’ Dita opens second store in Tokyo

    Los Angeles eyewear brand Dita has opened its latest Tokyo store this week, marking its second Japanese and global location.

    Located in the capital’s Minami Aoyama 5-chome, the Dita store covers 69 square metres andrepresents Dita’s latest retail concept, combining “the focus of a design showroom with the attentive service of an optical laboratory,” according to the company.

    Dita stores have been conceptualised by Mandi and Mehdi Rafaty of West Hollywood’s Tag Front. Italian stone mingles with plated aluminium, for a contemporary simplicity known to the America design dup. The Aoyama store also boasts a window on the south-facing facade extending from the floor to the ceiling.

    “We focused on materials and techniques that combine the warmth of turn-of-the-century design movements, like the Vienna Secession, rendered with contemporary technology and materials,” Dustin Edward Arnold, creative director of Dita Group, said in a statement.

    As well as Dita’s premium sunglasses, the store offers a range of technical services as part of its specialised ‘Dita Lab,’ including the provision of lens and frame prescriptions. Collections from Thom Browne Eyewear and Christian Roth, which Dita acquired last year, will also be on sale.

    Dita first entered the international retail space with a store opening in Daikanyama, Tokyo, in 2003.

  • PAL suspends Cebu-Los Angeles service

    PAL suspends Cebu-Los Angeles service

    THE Philippine Airlines (PAL) announced Monday, that it will “temporarily suspend” its Cebu-Los Angeles service effective May 30. In its advisory, the airline company said “the suspension of the Cebu-Los Angeles service is being carried out as PAL rationalizes capacity on the route.”

    “PAL is seeking the kind understanding of affected passengers as the airline implements these operational adjustments,” it said. PAL said passengers with tickets of the Cebu-Los Angeles flights dated May 30 and onwards may re-route and/or rebook their flights to Cebu-Manila-Los Angeles flights.

    Those with Los Angeles-Cebu flights may re-route and/or rebok their flights to Los Angeles-Manila-Cebu. The company added that it can also refund the cost of tickets of those affected passengers. “Affected passengers are advised to avail themselves of any of these options within 30 days from original flight dates, with rebooking/refunding charges waived,” PAL said. It said it will “communicate with affected passengers via email notification and call-out.”

    Lees ook:

    Lees ook:

  • Los Angeles hotdog chain opens Pink’s Manila

    Los Angeles hotdog chain opens Pink’s Manila

    Los Angeles’ Pink’s Hotdog chain opens in the Philippines today at the Shangri-la Fort in Bonifacio Global City.

    Pink’s Manila is the chain’s first international branch.The Hollywood legend established in 1939 has partnered with Pink’s family and Wildflour & Farmacy Manila to enter the Philippine market.

    Owners Richard and Gloria Pink are in Manila to attend the grand opening of Pink’s Manila at the ground floor of the newly opened hotel.

    Architect Lara Fernandez Barrios designed the “L.A. style biergarten” interiors based on Chef Walter Manzke’s concept for the Manila  branch.

    The new store features a converted Volkswagen Combi housing Farmacy’s ice cream shop and soda fountain stand, and soon, a bar that will be serving cocktails and mostly craft beers on draft.

    Tentative opening store hours will be from 11am to 2am, but are subject to change.