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  • Family Offices Pivot towards AI and Diversification amid Geopolitical Uncertainty: UBS Report

    Family Offices Pivot towards AI and Diversification amid Geopolitical Uncertainty: UBS Report

    Global financial markets are experiencing profound shifts due to geopolitical and structural uncertainties, leading family offices globally to reconsider their investment strategies. This emerges from UBS’s “Global Family Office Report 2026”, which surveyed 307 family offices across over 30 markets, together representing around $2.7 billion in net worth.

    Significantly, this is the first time since the start of the study that 60% of participants expressed their intention to modify their strategic asset allocation in the coming year. The focus is shifting towards a broader diversification spanning regions, currencies, and asset types, coupled with an enhanced emphasis on long-term thematic investments.

    A Growing Interest in Artificial Intelligence

    The report reveals an increasing trend amongst family offices to adjust their portfolios in a calculated, disciplined manner, as explained by Benjamin Cavalli, Head of Strategic Clients & Global Connectivity at UBS Global Wealth Management. Several investors are diminishing their U.S. dollar exposure or diversifying more widely across regions, without fundamentally reevaluating their North American positions.

    Artificial Intelligence (AI) is an area that continues to pique significant interest. As per the report, 65% of family offices have invested across the full AI value chain, starting from data centers and software platforms to semiconductor manufacturers. Despite high valuations, a considerable number of investors intend to increase or at least maintain their exposure.

    “Artificial Intelligence continues to be the defining investment theme of this decade,” stated Yves-Alain Sommerhalder, Head of GWM Solutions at UBS. Family offices are taking a more discerning approach, merging growth opportunities with a heightened risk discipline.

    Challenges in Governance and Succession Planning

    Besides AI, investments in infrastructure and energy and commodities remain the preferred areas for family offices. Cryptocurrencies, however, remain a fringe allocation, with only 44% of invested family offices considering digital assets as part of their strategic asset allocation, but actual portfolio exposures are typically limited.

    For Swiss family offices, the trend appears to be more conservative. They maintain widely diversified portfolios with a strong emphasis on Western Europe and North America, and they are making portfolio adjustments more cautiously compared to international peers. AI, energy, automation, and robotics also dominate amongst Swiss investors.

    Despite these trends, there are noticeable gaps in governance and succession planning in many family offices. Only about one-third have a clearly defined succession plan, and a mere 27% are preparing the next generation in a structured manner for future leadership roles.

    Questions & Answers

    What’s the trend in asset allocation among family offices?
    A majority of family offices are planning to adjust their strategic asset allocation in the next year, with emphasis on wider diversification across regions, currencies, and asset classes.

    What’s the investment sentiment towards artificial intelligence?
    Artificial Intelligence continues to be of high interest, with 65% of family offices having invested across the full AI value chain. Many plan to increase or maintain their AI exposure despite high valuations.

    What are the challenges being faced by family offices?
    A significant number of family offices lack clearly defined succession plans and structured methods for preparing the next generation for future leadership roles.

  • Deloitte Under Scrutiny: Ai-generated Inaccuracies Found In Aud 440,000 Australian Welfare Report

    Deloitte Under Scrutiny: Ai-generated Inaccuracies Found In Aud 440,000 Australian Welfare Report

    A report commissioned by Australia’s Department of Employment and Workplace Relations, which was paid AUD 440,000 (around 231,200 Swiss francs), looked into an IT system intended to automate sanctions in the country’s welfare framework. The original report was published in July and was quietly updated on the ministry’s website last week. The updated version featured over a dozen deletions of non-existent references and footnotes, a refreshed reference list, and various typographical corrections.

    Report Inaccuracies

    Christopher Rudge, a researcher at the University of Sydney, discovered several inaccuracies in the report. He hypothesized that these inaccuracies could be due to instances of AI hallucinations, which occur when generative models fabricate information that appears to be factual.

    Findings Deemed Unreliable

    While the report now includes a disclaimer that generative AI was utilized to address “gaps in traceability and documentation”, the trust in the report’s findings has been undermined as a result of the reported inaccuracies. “The firm acknowledged the use of generative AI for a significant analytical task but did not initially disclose it,” said Rudge. He expressed concern that the recommendations made in the report could not be fully trusted.

    Nonetheless, the ministry maintained that “the essence of the independent review remains unchanged and there will be no alterations to the recommendations”. There are also reports that Deloitte forfeited the final payment for the report, although the amount was not specified.

    Impact on Deloitte

    This incident does more than just create a financial dent; it also represents a significant blow to Deloitte’s reputation. The firm, which advises corporations, governments, and institutions worldwide on the proper utilization of AI, is now facing scrutiny for the responsible use of these technologies.

    Questions & Answers

    What inaccuracies were found in the report?
    Christopher Rudge from the University of Sydney found several inaccuracies in the report, suggesting they could be the result of AI hallucinations – when generative models create information that appears factual.

    What was the initial reaction to these inaccuracies?
    While Deloitte admitted to using generative AI and added a disclaimer in the updated version of the report, there has been a decline in trust regarding the report’s findings. The ministry, however, maintained that the core of the review and its recommendations remain unaltered.

    What impact has this had on Deloitte?
    Beyond the financial implications, this incident represents a significant reputational setback for Deloitte, a firm that advises on the responsible use of AI worldwide.

  • Changi Airport Crowned Singapore’s Most Desirable Employer: A Win for Retail Talent Attraction!

    Changi Airport Crowned Singapore’s Most Desirable Employer: A Win for Retail Talent Attraction!

    Changi Airport Group has aced the 2025 Randstad Employer Brand Research, recording an impressive attractiveness score of 78.4%. This marks a significant leap from its 2024 score of 69.6%, according to Singapore Business Review. Notably, this triumph marks the third time Changi has clinched the top spot since the study’s inception in 2012, with previous victories in 2016 and 2018.

    The Randstad report is a notable gauge of employer reputation, polling the insights of 2,522 respondents aged 18 to 64 who evaluated companies on their brand awareness and overall appeal as employers. While Changi is renowned as a top-tier air travel hub, its roles encompass a broader spectrum, spanning airport operations, management, development, and diverse commercial activities.

    Following in the rankings are Marina Bay Sands, a celebrated resort, and consumer goods giant Procter & Gamble. Singapore’s largest bank, DBS, and Micron Semiconductor also made the cut, rounding out the top five.

    The report doesn’t stop at mere rankings; it offers a window into how various generations in Singapore prioritize their workplace values. Hospitality and recreation emerged as the most alluring sectors out of the 15 analyzed, with life sciences and service industries—covering securities, facilities, and catering—trailing closely behind.

    Work-life balance continues to reign supreme across age groups, standout as the leading factor driving employee preferences for the third consecutive year. Salary and benefits trailed closely, as indicated by insights from The Business Times. However, a tapestry of generational differences reveals a more nuanced picture, particularly when it comes to job security. For instance, Gen Xers ranked job security as their third-most important factor, while millennials and Gen Z placed it fourth and fifth, respectively.

    Interestingly, younger generations are prioritizing career advancement, with both Gen Z and millennials listing career progression as their third-most important workplace aspiration. “Competitive compensation alone is no longer sufficient; organisations must now tailor their employer brand to provide not just an acceptable employee experience but one that resonates deeply with the talent they wish to attract and retain,” stated David Blasco, country director of Randstad Singapore. To paraphrase a famous adage: in today’s job market, it’s not just about what you pay, but how you make employees feel.

    Questions & Answers

    What notable achievement did Changi Airport Group accomplish in the 2025 Randstad Employer Brand Research?
    Changi Airport Group achieved an attractiveness score of 78.4%, marking its third time in the top spot since the study began in 2012.

    How does the study collect its data, and who are the respondents?
    The report gathers insights from a survey of 2,522 respondents aged 18 to 64, who evaluate companies based on employer brand awareness and attractiveness.

    What are some key worker priorities identified in the report?
    The report highlights that work-life balance remains the top priority for employees, while younger generations particularly emphasize career advancement opportunities.

  • AEON Credit Service Reports Impressive 31.3% Profit Surge to US$13.9 Million in Q1!

    AEON Credit Service Reports Impressive 31.3% Profit Surge to US$13.9 Million in Q1!

    AEON Credit Service (Asia) Company Limited has announced promising financial results for the three-month period ending May 31, 2025, showcasing its resilience and strategic focus in a competitive market. The company recorded a revenue of HK$442.2 million (approximately US$56.33 million), reflecting a 3.7% increase year-on-year. This growth was primarily fueled by enhanced interest income and a steady rise in revolving credit card and personal loan receivables, underscoring the firm’s robust lending framework.

    Moreover, AEON Credit’s after-tax profit reached HK$109.3 million (US$13.92 million), marking a 31.3% surge compared to the same period last year. With earnings per share climbing to 26.11 HK cents, up from 19.88 HK cents, the company is clearly on a bullish trajectory, toasting to a fruitful quarter.

    Operational Profits and Strategic Enhancements

    Operating profit before impairment losses saw an impressive increase of 8.7%, rising to HK$229.7 million. Concurrently, the company’s cost-to-income ratio improved, dropping to 44.6% from 47.3% the previous year, signaling efficient management and cost control.

    To navigate the intricacies of credit exposure, AEON Credit has bolstered its credit assessment model. This strategic move allows the company to better manage higher-risk advances and receivables, ensuring that growth is sustainable and backed by robust risk management.

    Marketing Innovation and Customer Engagement

    The financial institution is also reaping the rewards of its focused marketing efforts. By employing targeted marketing and innovative digital advertising campaigns, AEON Credit has stimulated spending and maintained momentum in its credit card segment, even as personal loan sales faced a decline.

    Looking towards the future, AEON Credit is betting on its “AEON HK” mobile app as a cornerstone for acquiring new customers for both credit card and personal loan services. Moreover, the company is in the process of developing a new rewards platform tailored to its customers in Hong Kong, promising a more convenient way to redeem premium points and e-coupons. It seems the customer experience is set to take flight, with rewards that will surely keep clients engaged and coming back for more — because who doesn’t love a little extra something on their shopping spree?

    Questions & Answers

    How did AEON Credit perform financially in Q1 FY2024/25?
    AEON Credit reported a revenue of HK$442.2 million, a 3.7% YoY increase, while profit after tax surged by 31.3% to HK$109.3 million.

    What factors contributed to AEON Credit’s revenue growth?
    The growth was primarily driven by higher interest income and an increase in revolving credit card and personal loan receivables.

    What future initiatives is AEON Credit undertaking to enhance customer engagement?
    AEON Credit plans to leverage its “AEON HK” mobile app for new customer acquisitions and is developing a rewards platform for easier premium point and e-coupon redemptions.

  • Samsung ‘shock’ as profits start to droop

    Samsung ‘shock’ as profits start to droop

    Samsung Electronics announced sharply lower earnings for the fourth quarter, an earnings “shock” that suggested that the “supercycle” in the global semiconductor market is nearing an end. Preliminary 2018 performance numbers released Tuesday predicted the local IT giant’s operating profit between October and December of last year would be 10.8 trillion won ($9.6 billion), down 28.71 percent year on year.

    This is the lowest figure since the first quarter of 2017’s 9.9 trillion won. Between those two quarters, operating profit had consistently stayed in the 14 to 17 trillion won range.

    Revenue for last year’s fourth quarter slumped 10.58 percent year on year to 59 trillion won. Last year’s third quarter saw record quarterly highs of 65.5 trillion won in revenue and 17.6 trillion won in operating profit.

    Local analysts had expected 13.4 trillion won in operating profit for the fourth quarter and 63.2 trillion won in revenue, according to the stock information provider FnGuide.

    Samsung did not reveal performance figures for different business divisions, but the company cited “slow demand” in semiconductors as a major factor in a public announcement the same day. The IT giant has three major business divisions: chips, smartphones and home electronics.

    The results for all of 2018 showed that the company had a record high operating profit of 58.89 trillion won, a 9.77 percent jump from last year, and 243.5 trillion won in revenue, up 1.64 percent year on year.

    Before starting to slow, semiconductors were the main contributors to Samsung’s high performance over the last two years.

    In the announcement, the company added that demand from data center clients in the fourth quarter had fallen short of expectations.

    “Shipping of memory chips retreated from the third quarter, and the price decline turned out to be bigger than what we expected earlier this year,” it said.

    One reason is because companies with data centers such as Amazon, Facebook and Microsoft bought large amounts of dynamic random-access memory (DRAM) chips during the last two years, which are now piling up.

    DRAM prices started to fall after more than a year of increases – another factor that is affecting demand as companies anticipate more price cuts.

    Slow growth in smartphone sales and one-off expenses including the company’s offering of incentives to staff at the year’s end also affected the profit level.

    Worries that the semiconductor supercycle was ending have surfaced for years, but Samsung and other chipmakers have reported strong earnings – until the fourth quarter.

    December’s chip exports from Korea retreated for the first time in 27 months. The general consensus among local analysts is that Samsung’s revenue will continue to shrink in the first half of this year.

    But they have a more positive outlook for the second half.

    “Memory chip prices will bounce back in the second half of 2019,” said analyst Lee Jae-yun of Yuanta Securities. “Because the supply growth rate of major chipmakers in 2019 will be 19 percent [year on year], whereas demand growth is expected to reach 20 percent.”

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  • Red Cloud kickstarts Far East raw denim culture

    Red Cloud kickstarts Far East raw denim culture

    Red Cloud is a name few major retailers have yet heard of – but watch this space…

    Dubbed one of China’s first premium selvedge denim brands by influential fashion media monitor WGSN, it’s one of a new wave of independent denim makers carving out a new raw denim culture in Asia.

    Red Cloud’s new store is not exactly located in the heart of Hong Kong’s fashion highway – instead, you’ll find it tucked away in a narrow alley in Kwun Tong in Hong Kong’s industrial district.

    It’s the company’s second retail store, the first in its home city of Shenyang in the Mainland opened soon after the brand was founded in 2007.

    In an extensive interview with WGSN correspondent Anupreet Bhui, published online with photos of the store’s interior design, store manager Wan talks about the positioning of Red Cloud as a high end premium selvedge raw denim brand and how it has overcome the ‘Made in China’ tag.

    “The first thing that strikes you upon entering the shop is its old world charm garnished heavily with refreshing vintage interiors done up in a typical retro Hong Kong flavour that speaks out through its ceiling fan, authentic shop signage and hand picked furniture classics,” explains Bhui.

    “The shop is itself a labor of love by its owner Wan, who has hand built most of its fixtures and curated vintage furniture from all over Hong Kong and China. Wan is a good friend of Red Cloud founder Raymond and has helped him develop the business in Hong Kong as the sole distributer of Red Cloud & Co.”

    Wan says the shop has already built a fast-growing following among local denim connoisseurs.

    “At present there are a number of denim brands that are coming out in the market which may be selvedge and more expensive. However I really feel that for the consumer who truly understands high quality and authenticity, will continue to value Red Cloud & Co. Over these years, we are slowly but steadily building up our loyalist base who truly understand the difference. I am very optimistic about the future,” he told Bhui.

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  • Luk Fook sales drop 10 per cent in latest quarter

    Luk Fook sales drop 10 per cent in latest quarter

    Luk Fook sales in the third quarter fell 10 per cent on a same-store basis. “Recent market sentiment has been adversely impacted by the US-China trade war, the depreciation of Renminbi, and downward pressure in the stock and property markets,” said chairman Wai Sheung Wong ina  stock exchange filing. Luk Fook says same-store sales of gold products fell by 9 per cent and of gem-set jewellery by 8 per cent.

    The company’s disappointing figures come in the same week as rival jeweller Chow Tai Fook reported an 11 per cent decline in sales across Mainland China, Hong Kong and Macau.

    Wong said the Renminbi’s depreciation led to higher tendency for customers to purchase lower-value items, resulting in a double-digit drop in the average selling price of gem-set jewellery products.

    Same-store Luk Fook sales in Mainland China fell by 14 per cent, with gold products down 16 per cent and gem-set jewellery down 5 per cent.

    As at December 31 the company operated 221 of its own Lukfook stores, including 150 on the mainland, 49 in Hong Kong, 11 in Macau and 11 overseas. It supplied 1573 licensed shops on the mainland, one in Cambodia and one in the Philippines, making a total of 1796 worldwide.

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  • Malaysia Faces Surge: Online Shopping Scams Reach 3,500 in Q1, Reports Ninja Van

    Malaysia Faces Surge: Online Shopping Scams Reach 3,500 in Q1, Reports Ninja Van

    Scams are on the rise in Malaysia, with Ninja Van reporting over 17,000 parcel scam incidents last year alone. The most common of these scams involved cash-on-delivery schemes, where unsuspecting consumers paid for items they never ordered, as detailed by the Malaysian tech news outlet Zen The Geek.

    Ghost Scams and Phishing Woes

    But the woes don’t stop there. A sinister variety called “ghost scams” has gained traction, tricking victims into buying non-existent products or services advertised online. Adding to this digital quagmire are phishing attempts, where fraudsters employ text messages to impersonate Ninja Van, luring victims into their traps.

    Elderly Victims and Unrealistic Offers

    Fariz Maswan, Ninja Van’s chief sales officer, shared that many victims are from the older generation, easily lured into purchasing dubious items—think herbal products and amulets—pitched on social media. Often, these victims either receive nothing at all or are delivered items that strayed far from what was initially advertised. “It’s always a case of items being offered at a price that is just too good to be true,” Maswan noted, revealing that while losses can reach up to MYR1,000, most victims lose about MYR200.

    Raymon Ram, a fraud risk management expert, underscored the widespread fallout from these scams. “They erode public trust—not just in businesses, but also in the institutions that are supposed to protect us,” he declared, pointing out that scammers exploit weak governance and consumer ignorance. In phishing scenarios, victims receive messages claiming that a Ninja Van package was undelivered, only to be directed to fraudulent websites designed to pilfer their banking information.

    For cash-on-delivery scams, Fariz elaborated on the deceptive tactics. Scammers masquerade as delivery personnel, convincing targets to pay for a package supposedly ordered by a spouse or family member. “Scammers exploit the sense of familiarity that victims have for the person they think the parcel is for,” he explained.

    Combating the Rise of Scams

    In response to this alarming trend, Ninja Van has initiated the ScamMinar Panel Discussion, a proactive measure to combat fraud. They’ve also teamed up with the Royal Malaysia Police to bolster anti-scam efforts.

    Last year, Malaysia saw over 35,300 reported scams, leading to staggering financial losses of MYR1.6 billion (US$378 million), according to the Commercial Crime Investigation Department. This marks a 29% increase compared to 2023—a surge deemed “alarming” by the department’s director. The types of scams varied from fraudulent phone calls to enticing investment schemes promising astonishing returns. Who knew scammers could be so diverse?

    Questions & Answers

    What are the most common types of scams reported by Ninja Van?
    The most prevalent scams involve cash-on-delivery fraud, ghost scams for non-existent products, and phishing attempts disguised as undelivered parcel notifications.

    Who is primarily affected by these scams?
    Many victims belong to the older generation, often targeted through social media promotions that feature enticing offers on dubious products.

    What measures is Ninja Van taking to combat these scams?
    Ninja Van has launched the ScamMinar Panel Discussion and partnered with the Royal Malaysia Police to implement effective strategies to prevent fraud.

  • Industry-First Marketplace Research Reveals only 7% of Australian Shoppers Trust Temu on Product Quality, while Amazon leads for Convenience, Range, and Returns

    Industry-First Marketplace Research Reveals only 7% of Australian Shoppers Trust Temu on Product Quality, while Amazon leads for Convenience, Range, and Returns

    An industry-first study by global ecommerce accelerator, Pattern, has shown that despite their surging popularity, Australian consumers hold negative views on the quality of the products sold on emerging marketplaces Temu and Shein.

    The major Australian marketplace shopper study uncovered Australian consumers’ perceptions of the seven largest marketplace platforms: Amazon, eBay, Catch, Kogan, Temu, MyDeal, and Shein.

    Temu was ranked as the lowest marketplace in perceived product quality at only 7%, followed by Shein, with just 8% of shoppers expressing trust in its product quality. This contrasts with a majority of shoppers saying that they trusted the quality of the products sold on Amazon.

    “Temu and Shein have burst onto the Australian ecommerce landscape, attracting large numbers of younger shoppers. However, these platforms still have to play a lot of catch-up to win over Australian consumers, who didn’t rate them highly for product quality, returns, and convenience,” said Merline McGregor, General Manager of Pattern Australia.

    “With a transparent product rating and review system built into its platform that educates and builds shopper trust, Amazon has become the most trusted marketplace in Australia in relation to the quality of products it sells. This is an area where Amazon leads the sector at 58%, with eBay trailing at 39%, followed by Catch (25%), Kogan (19%) and MyDeal (11%).”

    Marketplaces attract shoppers as cost-of-living pressures bite

    As cost-of-living pressures rise, Australian consumers are increasingly turning to marketplaces to research, compare, and purchase. A large majority of Australians shopped on a marketplace in 2023, with a staggering 94% planning to buy from platforms like Amazon, Catch, and eBay over the coming year.

    “With strained household budgets, marketplaces are attracting an increasing number of shoppers with their easy-to-use price comparison functionalities and sales events. With its globally recognised Prime Day event gaining popularity in Australia, Amazon has become the leading marketplace for value-for-money purchases, attracting 48% shoppers, followed by eBay at 41% and Catch at 27%,” said McGregor.

    Not only are marketplaces attracting higher volumes of shoppers, but they are more likely to secure high income shoppers in 2024. Today, over 80% of $200K earning households shop on Amazon. Even newer marketplaces like Shein attract high income consumers, with 34% of those in the $160-$199k household income bracket buying from the platform in the past 12 months.

    Amazon wins for convenience and returns

    Amazon outperforms all other marketplaces in relation to ease-of-use shopping, with 56% of consumers highlighting it was the most convenient platform to buy from, compared with eBay (46%) and Catch (23%).

    This can be attributed to Amazon’s Prime membership benefits, where shoppers get free, fast shipping and the platform’s advanced search and recommendation algorithms that personalise the shopping experience.

    Given the sophisticated supply chain infrastructure it has established in Australia, 49% of shoppers also said Amazon has the most reliable returns process – significantly more compared to any other single marketplace.

    Brands need to be present on platforms with biggest product ranges

    Just over 60% of Australian shoppers believe Amazon has the widest product range, followed by eBay at 52%. All other platforms lagged – Catch, 20%, Temu, 17%, Kogan 14%, Shein, 11% and MyDeal 8%. Offering the most product variety and options also buys marketplaces the highest web clicks, with Amazon averaging 75.2 million monthly site visits and eBay 50.9 million.

    “It’s no surprise there’s a direct correlation between marketplaces perceived to have the best product ranges and those platforms, like Amazon, that attract the highest volumes of web traffic. Brands need to be present where their shoppers are. While the larger marketplaces may have more competition, they also have the biggest audiences of potential shoppers to target,” concluded McGregor.

    For more information and to download the full report please click here: ‘Australian Marketplace Consumer Trends Report – 2024’ 

    Research Methodology

    Pattern worked with OnePoll to survey 1,000 Australian consumers. Responses were collected online, and the survey was restricted to adults who had shopped online in the previous 12 months ensuring there was a representative sample of age, gender and location achieved.

    About Pattern Inc

    Pattern is the category leader in global ecommerce and marketplace acceleration. Since 2013, Pattern has profitably grown to more than 1,100 employees operating from 22 global locations – including Melbourne, Sydney and the Gold Coast – to help leading brands achieve accelerated growth on D2C websites and global marketplaces. As well as being one of the largest Amazon sellers in the world, we are also present on Tmall, JD.com, eBay and other marketplaces. ​​We act as the authorised Amazon seller to more than ​2​00 brands​ globally​, buying their stock to sell on the marketplace and taking care of every aspect of their Amazon presence. In 2018, Pattern acquired Practicology, a global digital consultancy and agency with a presence and strong client base in Australia. For more information, visit https://au.pattern.com/ .

    Media Contact

    Corinne Nolte

    Mulberry Marketing Communications

    cnolte@mulberrymc.com

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  • Apple reports 11% gain in iPhone sales, 24% hike in Services during fiscal Q1 2022

    Apple reports 11% gain in iPhone sales, 24% hike in Services during fiscal Q1 2022

    Apple got fiscal 2022 off to a great start as the tech giant reported its earnings for the fiscal first quarter of 2022. Apple set a record during the three months from October through December by reporting revenue of $123.9 billion which easily topped Wall Street estimates of $118.66 billion, and was 11% higher than the top line of $111.4 billion recorded during the same period last year.

    Apple iPhone sales rose 11% on an annual basis during the first fiscal quarter of 2022

    Let’s go right to the device that everyone wants to know about, the iPhone. The surging smartphone took in $76.63 billion which surpassed Wall Street’s guess of $68.34 billion. During the same quarter last year, Apple reported $65.60 billion in handset sales giving the company a 9% increase year-over-year.

    The iPhone 13 Pro series offers 120Hz ProMotion displays, upgraded cameras, much-improved battery life, and more. This is the second generation of iPhone models that support 5G connectivity.

    The iPhone continued to have a strong quarter to kick off fiscal 2022 – Apple reports 11% gain in iPhone sales, 24% hike in Services during fiscal Q1 2022
    The iPhone continued to have a strong quarter to kick off fiscal 2022
    Even though the pandemic continues, fewer people are being told to work from home and schools are open. As a result, iPad revenue declined 14.10% in the quarter to $7.25 billion from $8.44 billion during the first fiscal quarter of 2021. Wall Street expected Apple to report $8.18 billion in tablet revenue so this was one area that was a failure for Apple in Wall Street’s eyes.

    Wearables, Home and Accessories, the business segment that includes the Apple Watch and the AirPods, took in $14.70 billion in the quarter vs. $12.97 billion last year. That works out to an increase of 13.34% year-over-year. Later this year, we could see Apple introduce three new timepieces including a rugged model and add a sequel to the AirPods Pro.

    What was Apple’s strongest business segment last quarter?

    Apple’s Services unit, which includes a wide variety of offerings including the App Store, Apple Pay, Apple Music, Apple TV+, Apple Care+, Apple News, and more, saw revenue rise from $15.75 billion last year to $19.52 billion this year. That figure topped Wall Street forecasts of $18.61 billion. For the year, Services gross rose a tremendous 24% which shows how Apple expects to continue making money even when iPhone sales turn south permanently, something that might not happen for years and years to come.

    Sales rose in all segments except for Japan. In the U.S., Apple took in $51.50 billion vs. $46.31 billion last year. In Greater China, revenue was $25.78 billion ($21.31 billion in 2021) and rose in Europe to $29.75 billion vs. $27.31 billion during the fiscal first quarter of 2021.

    Apple’s total net income for the fiscal first quarter of 2022 rose 20.41% on an annual basis to $34.63 billion or $2.11 per share. Last year’s figures were $28.76 billion and $1.70 a share, respectively.

    CEO Tim Cook says that the chip and supply chain shortages for the upcoming March quarter will be less than what Apple experienced during the December quarter. Cook stated, “This quarter’s record results were made possible by our most innovative lineup of products and services ever. We are gratified to see the response from customers around the world at a time when staying connected has never been more important.”

    He added, “We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

    On Wall Street, Apple concluded the regular trading session by declining 47 cents or .29% to $159.22. After the earnings report was released, the stock soared $7.89 or 4.96% to $167.11.

    Luca Maestri, Apple’s CFO, said, “The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices. These record operating results allowed us to return nearly $27 billion to
    our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

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  • New report hints at the potential power of Apple’s upcoming AR/VR headset

    New report hints at the potential power of Apple’s upcoming AR/VR headset

    Apple’s first genuinely new product in a while is expected to see the light of day in the second half of 2022, and it is the alleged AR/VR headset. The rumor mill has been spilling out all kinds of reports and rumors about the device, one of which reveals Apple’s intent for its implementation.

    More recently, a new report from the well-known and respected tech analyst Ming-Chi Kuo pulls the curtains yet even more. He claims that the headset will be powered by the same 96W USB-C power adapter that comes with the MacBook Pro.

    At first glance, this piece of information might seem boring or even unworthy of being mentioned. However, it could be a showing sign of the power that stands behind Apple’s mixed reality wearable product. Previous rumors say that it will be rocking a Mac-level computing power, which would explain the big power adapter.

    To be more precise, Kuo has stated that there will be two processors that will contribute to the headset’s capabilities: a 5nm chip and a 4nm one, supposedly manufactured by TSMC. He also says that one of the chips will be similar in performance to that of the M1 SoC, while the other will be responsible for all the sensors.

    Needless to say, this first iteration will likely be a very niche product, going for insane amounts of money and reserved for the early adopters and developers. That is why Apple is said to make only a small number of them for 2022.

    That being said, Kuo predicts that the next generation will enter the market with a more competitive price point and slowly become more affordable and available. Tim Cook, Apple’s current CEO, has expressed a tremendous interest in the technology. Significant amounts of investments are being made in both VR and AR, so both are probably here to stay and have some part to play in the future

  • Electric Cars Expected To Be Launched In India In 2021

    Electric Cars Expected To Be Launched In India In 2021

    Electric cars are the future, and the year 2021 will offer the slightest glimpse of the electric vehicle (EV) revolution. Though EVs represent a very small percentage of global car sales, several automakers have already made massive investments in electric mobility foreseeing the demand it could create in the coming years. As India is moving towards e-mobility, there has been substantial investment in electric vehicles (EVs) by domestic and global auto majors. The models like the Tata Nexon EV and MG ZS EV have received a decent amount of success in the Indian EV market. Other automakers too are planning to enter into the electric vehicle space in India. On that note, we list down the EVs that are expected to go on sale in the Indian market this year.

    Tesla Model 3:

    Tesla is all set to roll out its first electric car, the Model S, in the country this year. The EV maker will set up India headquarters in Mumbai’s Lower Parel location while the production base will be established in Karnataka. The American EV maker will start its sales operations with the Model 3 which is the most affordable offering in its line-up. The Tesla Model 3 will come to India as a completely built unit (CBU) model. The car is rumored to be priced somewhere ₹ 55 lakh in the country. The Tesla Model 3 has a range of up to 500 kilometers and a top speed of 162 kmph. It can even do 0-100 kmph in 3.1 seconds.

    Volvo XC40 Recharge:

    Volvo Car India revealed the new XC40 Recharge electric SUV in the country a couple of months ago. It will be the first all-electric offering from a Chinese-owned Swedish carmaker. The company will start accepting pre-bookings for the electric SUV next month, while deliveries will commence in October 2021. The Volvo XC40 Recharge will come to India as a completely built unit (CBU) model. The electric SUV comes with a dual-motor powertrain with 150 kW electric motors on each axle that converts to 402 bhp and 660 Nm of peak torque. The electric motors are powered by a 78 kWh battery pack that offers an approximate range of up to 418 km. It can achieve 0-100 kmph in 4.9 seconds.

    Audi e-Tron:

    Audi India has confirmed the arrival of the e-Tron alongside the e-Tron Sportback in the country this year. It will be the German carmaker’s first all-electric offering in India. The electric SUV was previously slated to go on sale last year, which was delayed due to the COVID-19 pandemic. Both the Audi e-Tron and the e-Tron Sportback share the same underpinnings, but the latter gets the coupe-like sloping roofline and a redesigned rear profile. Both the EVs come with two electric motors that develop 355 bhp and 561 Nm of peak torque. In the boost mode, the power output increases up to 408 bhp and 664 Nm. The EVs use a 95 kWh battery pack that offers a range of about 452 km on a single charge and can be fully charged in eight and a half hours using a regular charger.

    Mahindra eKUV100:

    Mahindra is all set to launch the eKUV100 in the Indian market in the coming months. The Indian carmaker has already announced prices of the EV at the 2020 Auto Expo, which costs ₹ 8.25 lakh (ex-showroom, India). While the eKUV100 will be targeted at fleet operators, the EV will also be offered for private buyers. Visually, the car looks identical to its petrol counterpart. However, we expect minimal changes on the production-spec version including possibly a revised grille, along with reworked headlamps and taillights. The Mahindra eKUV100 will use a 40 kW electric that belts out about 53 bhp and 120 Nm of peak torque. A single-speed transmission will be sending power to the front wheels. The car will come with a 15.9 kWh lithium-ion battery and is expected to offer a range of 120 km on a single charge.

    Porsche Taycan:

    The all-new Porsche Taycan electric sports car will be introduced in India this year. It is the first fully-electric sedan from the Stuttgart-based luxury carmaker, which will be based on the Porsche Mission E Concept that was showcased in 2015. The new Porsche Taycan will sport two permanently excited synchronous electric motors that can churn out a maximum of 600 bhp and will a range of over 500 km thanks to its high voltage lithium-ion batteries. The EV will get 800-volt chargers with fast charging capability, which can offer a 400 km range in 15 minutes of charge time. The carmaker claims that the EV can sprint from 0-100 kmph in under 3.5 seconds.

    Tata Altroz EV:

    The Altroz EV will be the next electric vehicle from the Indian automaker’s stable, which was showcased at the 2019 Geneve Motor Show. The fully electric version of the premium hatchback is expected to go on sale in India this year. Like its ICE derivative, the EV version will also be built on the all-new Agile Light Flexible Advanced (ALFA) Architecture. Tata Motors has already confirmed that all its future electric vehicles will use the Ziptron powertrain technology. So, the Altroz EV will get a Lithium-ion battery with IP67 certification.

    Mercedes-Benz EQS:

    It was last month that Mercedes-Benz revealed the EQS electric sedan in the global market. The electric sedan has been listed on the official India website, suggesting it could be launched in our market later this year. The luxury electric sedan will be available in two trims – EQS 450+ and EQS 580 4MATIC. The EQS 450+ is the base variant that features a single electric motor on the rear axle for a total of 328 bhp and 568 Nm of peak torque. The EQS 580 4MATIC is an all-wheel-drive (AWD) range-topping trim and gets an electric motor on both front and rear axles. Total output in combination here is 516 bhp and a whopping 855 Nm of peak torque, good for a 4.1 seconds sprint to 100 kmph from a standstill.

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  • 45% People Killed Due To Road Accidents In 2018 In Delhi Were Pedestrians

    45% People Killed Due To Road Accidents In 2018 In Delhi Were Pedestrians

    The Delhi Traffic Police released data of accidents in the capital city in 2018 and it shows that the fatalities in road accidents have gone up from 1584 deaths in 2017 to 1690 deaths in 2018. The report states that in 2018, 6515 road accidents occurred in Delhi in which 6086 people were injured while 1690 people lost their life.

    The fatality rate has increased by 6.69 percent though there has been a total decline in road accidents by 2.36 percent. Pedestrians were the most vulnerable victims. In 2018, 45.86 percent of the total persons killed in road accidents were pedestrians while scooter or motorcycle riders were second-most vulnerable with 33.72 percent killed in an accident.

    The fatalities have been showing a downward trend since 2009 but last year this trend reversed. The data also suggested that vehicles registered in Haryana were responsible for the highest number of fatal accidents in Delhi among other state vehicles. Out of the total 1657 fatal accidents, 150 were caused by vehicles registered in Haryana in 2018. The report also suggests that 743 accidents occurred during the day while 914 occurred during the night. The Traffic Department also identified 110 cluster points as accident-prone zones in Delhi and among the most dangerous stretches are on the Ring Road, Outer Ring Road, GTK Road, Rohtak Road and Grand Trunk Road.

    In 2018, cars/taxis caused 253 fatal accidents accounting for 15.26 percent of total fatal accidents which was the maximum number for a vehicle type.

     

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  • Huawei taps Infosys to help its build cloud ecosystem

    Huawei taps Infosys to help its build cloud ecosystem

    Huawei’s continued quest to be one of the world’s largest cloud players took a small step forward with the announcement of a new partnership with Infosys.

    Huawei Cloud has signed a memorandum of understanding (MOU) with India-based IT firm Infosys in order to help enterprises transition to the digital cloud. As part of the MOU, Infosys will join the Huawei Cloud Partner Network (HCPN) in order to better blend Infosys’ products with Huawei Cloud’s offerings.

    “Combining Huawei Cloud’s product innovation and Infosys’ strengths in next-generation digital services, we will help our clients accelerate their transition to the cloud,” said Infosys President Ravi Kumar, in a prepared statement. “As part of this engagement, we will provide a suite of technologies hosted on Huawei Cloud, such as workload migration solutions including SAP and other enterprise workloads.”

    Over the past several years, Huawei has made a determined effort to become one of the world’s largest cloud providers, but it faces stiff competition from Amazon Web Services, Microsoft Azure, and Google Cloud. Closer to home, Huawei also competes with China-based Alibaba. Alibaba has been making a concerted effort to expand its cloud business into Europe.

    According to a February report by Synergy Research Group, Amazon Web Services increased its market share at the end of last year to the point where it is equivalent in size to the next four competitors combined. In order, Microsoft, Google, IBM and Alibaba held the top spots after AWS, according to Synergy Research Group.

    While Huawei wasn’t mentioned among the top cloud providers in the report, it has been trying to build a cloud ecosystem since at least 2016 when it first launched its “All Cloud” strategy for ICT infrastructure. A year later, Huawei announced it was seeking cloud computing partners to become the world’s fifth largest cloud provider behind AWS, Azure, Google and Alibaba.

    Given its size, Huawei Cloud may be able to muscle its way into cloud markets that are currently underserved by the top four companies, but there are also a host of medium and regional cloud companies.

    In this week’s first quarter earnings report, which was the company’s first, Huawei touted the artificial intelligence capabilities that are in Huawei Cloud.

    “Huawei CLOUD remains committed to innovation. It aims to build the best possible hybrid cloud, provide full-stack AI solutions for intelligent industries, and make inclusive AI a reality,” the company said in its earnings report. “More than one million enterprise users and developers have chosen to work with Huawei Cloud. In Q1, Huawei Cloud services were launched in Singapore, and Huawei Cloud released its AI model market.”

    In yesterday’s press release, Huawei said the number of HCPN partners had exceeded 6,000. Working with those partners, Huawei Cloud has added 2,800 applications that are available in 23 regions around the world.

  • Half of PaaS services now cloud-only

    Half of PaaS services now cloud-only

    A new Gartner report, “Platform as a Service: Definition, Taxonomy and Vendor Landscape, 2019” revealed that 48% of 550 PaaS offerings are cloud-only. Not a single vendor has a foothold across all 21 segments, and 90% of them only operate within a single PaaS market segment.

    “Business and technology leaders are shifting to strategic investment in cloud computing,” said Yefim Natis, research vice president and distinguished analyst at Gartner. “Cloud computing is one of the key disruptive forces in IT markets that is gaining mainstream trust.”

    Natis commented that although many organizations anticipate long-term retention of on-premises computing, the vendors of nearly half of the cloud platform offerings bet on the prevailing growth of cloud deployments and chose the more modern and more efficient cloud-only delivery of their capabilities.

    Gartner predicts that enterprise IT spending for cloud-based offerings will surpass spending on non-cloud IT offerings by 2022. The analyst forecasts total PaaS market revenue to reach $20 billion in 2019, and to exceed $34 billion in 2022.

    In this shift to the cloud, database and application platform services represent the largest market segments, with blockchain, digital experience, serverless and artificial intelligence/machine learning (AI/ML) platform services as the newest.