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Samsung flags near-30% slump in Q4 operating profit

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Samsung flags near 30 slump in Q4 operating profit

SEOUL: Samsung Electronics on Tuesday flagged its first quarterly profit drop in two years and painted a grim outlook owing to mounting competition from Chinese smartphone makers and declining chip prices.

The shock warning added to concerns about the broader tech sector after Apple sent shudders through world markets last week by slashing its revenue forecast blaming weak sales in China and citing the trade war.

Samsung — the world’s top maker of smartphones and memory chips — has enjoyed record profits in recent years despite a series of setbacks, including a humiliating recall and the jailing of its de facto chief.

But operating profit during the October to December period was expected to be around 10.8 trillion won ($9.8 billion), down 28.7 percent from a year earlier, Samsung said in an earnings estimate.

The figure was below market consensus of about 13.5 trillion won, according to market researcher FnGuide.

Sales dropped more than 10 percent to 59 trillion won in the period, Samsung said.

It cited “lacklustre demand in the memory business and intensifying competition in the smartphone business” for the dismal outlook.

“Memory earnings fell significantly… due to weaker-than-expected demand amid inventory adjustments at data-centre customers,” which led to a “greater-than-expected” drop in chip prices, it said.

“We expect earnings to remain subdued in the first quarter of 2019 due to difficult conditions for the memory business but strengthen in the second half.”

 

 

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Technology

ConnecTechAsia 2019 in Singapore showcases latest smart technologies, trends

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ConnecTechAsia 2019

SINGAPORE: ConnecTechAsia 2019, comprising BroadcastAsia, CommunicAsia and NXTAsia, kicks off on Tuesday in Singapore, showcasing the latest smart technologies and trends that are shaping Asia’s digital future.

According to the organizer Informa Markets, the three-day event attracts many famous technology companies, including Alibaba Cloud, Amazon, Huawei, Google, IBM and Singtel.

These companies get together at the event to outline the latest tech innovations, create new business and network opportunities, and impart thought leadership to visitors from around the world.

Tan Kiat How, Chief Executive of Singapore’s Infocomm Media Development Authority, said at the opening ceremony that ConnecTechAsia is one of the region’s largest telecommunication, media and technology event. This year, the event has over 1,700 exhibitors and a series of roundtable discussions on issues such as artificial intelligence and cybersecurity.

He said that the event is important because it brings together industry leaders, solution providers, entrepreneurs and policy makers to focus on the key issues of the day.

Despite of the significant uncertainties faced by global economy, the pace of the digital revolution remains unabated, according to the official.

“The public and private sector can, and must, work together to achieve our shared goals of harnessing the full benefits of digitalization,” the CEO said.

 

 

 

 

 

 

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World’s highest operating weather stations installed on Mt. Everest

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Himalya

ISLAMABAD: The National Geographic Society has announced the successful installation of the worlds highest operating weather stations on Mount Everest to provide researchers, climbers, and the public with near real-time information about mountain conditions, the media reported.
“The multi-disciplinary team installed the world’s two highest operating automated weather stations at Balcony area (8,430 m) and South Col (7,945 m), as well as three other weather stations on Mount Everest,” Fae Jencks, Director, Marketing and Communications at the National Geographic Society, said in a statement.
The other stations were placed at Phortse (3,810 m), Everest Base Camp (5,315 m) and Camp II (6,464 m), the statement said, adding that each weather station will record data on temperature, relative humidity, barometric pressure, wind speed, and wind direction, The Himalayan Times reported.
Data from the weather stations and other new research conducted as part of National Geographic and Rolex’s Perpetual Planet Extreme Expedition to Everest will help communities respond to climate risks that threaten the lives and livelihoods of the more than one billion people in the region.
The successful installation aims to break new ground in our monitoring and understanding of climate change as the stations will help continuously monitor the upper reaches of the atmosphere, which is critical to tracking and predicting weather patterns around the globe, the statement added.
“The Balcony weather station is the first weather station installed at an elevation above 8,000 meters, meaning it will also be the first to sample the stratosphere as natural variations in the atmospheric boundaries change over time.”
From April to June, an international team of scientists, climbers, and story-tellers, led by the NatGeo Society and Tribhuvan University and supported in partnership with Rolex, conducted a scientific expedition to Everest, believed to be the most comprehensive single scientific expedition to the mountain in history, it claimed.
With team members from eight countries, including 17 Nepali researchers, the expedition team conducted trailblazing research in five areas of science that are critical to understanding environmental changes and their impacts: biology, glaciology, meteorology, geology, and mapping.

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Instagram, PlayStation hit with outages

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Instagram PlayStation hit with outages

SAN FRANCISCO: An Instagram outage on Thursday left users of the Facebook-owned social network flocking to Twitter to vent frustration.

The website DownDetector.com showed a spike in reports of Instagram being unavailable in the afternoon, nearly hitting 54,000 before diving back down.

“Earlier today, a technical issue caused some people to have trouble accessing their Instagram accounts. We are now fully recovered and apologize for the inconvenience,” an Instagram spokesperson said in a statement.

The company did not elaborate on the cause or extent of the outage.

People using the #instagram hashtag on Twitter posted that attempts to access the service on mobile apps or computers had been met with messages such as “couldn’t refresh feed” or “something went wrong.”

Along with complaints and animated gifs playing on the inconvenience, some offered words of wisdom.

“Imagine if Instagram and social media closed every day at 6 pm like a shop,” read a tweet from the account of @stevebartlettsc.

“We would all be forced to meet up and speak to each other in real life, to be present with our families, to work out, to go outside, to read, to make art, music… eurghhh, nevermind.”

Meanwhile, some gamers trying to access the PlayStation network on Thursday were also met with error messages.

“We’re aware that some users are experiencing issues logging into PSN. Thank you for your patience as we investigate,” the official Ask PlayStation Twitter account said.

According to DownDetector.com, the outages were concentrated in northern Europe and Britain, as well as in several parts of the United States and Brazil.

 

 

 

 

 

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