In the company’s forthcoming AR gadgets, iris scanning is likely to be used to recognise a user when they put on the headset…reports Asian Lite News
Tech giant Apple’s upcoming AR (augmented reality) headsets may use iris scan instead of Face ID or Touch ID to identify people.
In the company’s forthcoming AR gadgets, iris scanning is likely to be used to recognise a user when they put on the headset, reports AppleInsider.
“The capability will make it easier for multiple people to use the same device and allow them to quickly make payments inside the headset,” quoted in the report.
“Just like iPhones, it allows people to confirm payments using scans of their fingerprints or faces”, it added.
It is expected that iris scanning will enable Apple Pay use, if it is used as a new biometric method for user authentication.
The design of the upcoming AR device is expected to feature mesh fabrics, aluminium, and glass. It is likely to be thinner and lighter than Meta’s new Quest Pro.
The screen of the headset will be able to function at low refresh rates, much like the iPhone and Apple Watch, which have always-on screens. It would be specifically for battery conservation in the case of the headset.
It is rumoured that the company is working on three different AR headsets.
The one of the headgear is likely to launch in 2023. It might cost up to $3,000 and include a pair of 4K OLED panels as well as 15 side-facing camera modules.
One transaction was for 66,390 shares, sold for $174.66 each, while the other was 30,345 shares fetching $175.60 apiece…reports Asian Lite News
Apple’s Chief Financial Officer Luca Maestri has sold shares worth $16.9 million as part of an arranged trading plan.
According to a filing with the US Securities and Exchange Commission (SEC), the transactions was executed in two tranches.
One transaction was for 66,390 shares, sold for $174.66 each, while the other was 30,345 shares fetching $175.60 apiece.
MacRumors reports that a total of 96,735 shares were sold by Maestri.
“The transactions were made pursuant to a predetermined trading plan adopted by Maestri in November 2020, in accordance with insider trading laws”, the report mentioned.
Maestri still holds around 110,000 shares of Apple stock following the sale, according to the US SEC filing.
Maestri joined Apple in 2013 and reports directly to CEO Tim Cook.
Apple’s stock closed at $171.52 on Friday and is up nearly 32 per cent since June.
Despite the global macro-economic environment, Apple saw a record June quarter with 2 per cent (year-over-year) revenue increase at $83 billion, riding on a 12 per cent sales increase in services.
iPhone revenue was up from $39.5 billion to $40.7 billion in the April-June period — a 3 per cent increase from the same time last year.
“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment,” said Maestri.
“We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category,” he had said.
During the quarter, Apple generated nearly $23 billion in operating cash flow, and returned over $28 billion to its shareholders.
In an earnings call with analysts after posting robust June quarter results, Cook said 5G has been an accelerant…reports Asian Lite News
As India sets eyes on a mass-scale 5G adoption with kicking-off spectrum auction, Apple CEO Tim Cook has said that the 5G penetration is still low around the world, a reason that makes him optimistic about its future.
The installed base of smartphones with 5G capabilities has crossed 5 crore (50 million) in the country, and 5G smartphone shipment share reached 29 per cent of overall shipments in the second quarter (Q2), which was the highest ever, according to Counterpoint Research.
In an earnings call with analysts after posting robust June quarter results, Cook said 5G has been an accelerant.
“The 5G penetration, particularly if you look at it globally, is still quite low. In some geographies, it’s obviously higher, but around the world, 5G penetration is still low. And so I think there’s reason to be optimistic,” he noted.
According to experts, the 5G spectrum auction, that has seen bids worth Rs 1.5 lakh crore in three days of auction, and commercial availability will accelerate 5G smartphone adoption among users.
India is looking to deploy 5G services in the first half of 2023 with key cities.
“Eighty per cent of the iPhone sales come from its five models in India. Apple has a strong 5G-ready portfolio and brands upgrade rate and ecosystem stickiness is best in the industry,” Counterpoint Research Director Tarun Pathak told.
It means that “potentially all 4G iPhone users will jump over 5G and are likely to stay within the Apple ecosystem, a good trend for the company,” he added.
In India, Apple grew 63 per cent (on-year) in Q2 driven by a smaller base in Q2 2021 due to the Covid second wave. It remained the top-selling brand in the ultra-premium segment (Rs 45,000 and above or $650).
“Increasing ‘Make in India’ capabilities for both local consumption as well as exports, offline push through multiple promotions and consumers’ brand preference in the Rs 50,000 and above segment helped Apple retain its edge in the premium segment,” according to Counterpoint.
The opening of its own e-store, iPhone SE 2022 and offers on other models will further drive Apple’s shipments in the coming quarters, it added.
Nearly 1 million of the total shipped iPhones were ‘Make in India’ devices….reports Asian Lite News
Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94 per cent growth (year-on-year), the data showed on Monday.
According to data shared by market intelligence firm CyberMedia Research (CMR), the growth was driven by the stupendous sale of iPhone 12 and 13 models.
Nearly 1 million of the total shipped iPhones were ‘Make in India’ devices.
“Through the course of the second quarter, Apple continued its India market momentum with a stupendous YoY growth, driven by increased local iPhone manufacturing. The iPhone 12 series, along with the iPhone 13 series, accounted for the most iPhones shipped into the market,” said Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR.
Apple iPads logged an impressive 34 per cent growth (on-year) in India and the company sold over 0.2 million devices in the country.
“Apple iPad (Gen 9) and iPad Air 2022 accounted for a lion’s share of the iPad shipments, according to the Q2 data.
CMR expects iPhones to garner 4 per cent smartphone market share in India while iPads are set to log 20 per cent market share in its respective category.
The macro environment continues to be tough for the smartphone brands in India, owing to inflationary pressures, weakening rupee, and mellowed consumer demand.
“The premium smartphone segment continues to be immune, and has benefited from consumer inclination for revenge buying in the new normal,” said Ram.
Apple’s enhanced and diversified iPhone production capabilities in India, along with aggressive retail initiatives, continue to contribute to its strong growth momentum in India.
Earlier this year, the tech giant confirmed it has started manufacturing its top-selling iPhone 13 smartphone in India.
Apple first started manufacturing iPhones in India in 2017, with iPhone SE.
In Q1 2022, Apple shipped nearly 1 million ‘Make-in-India’ iPhones, registering an overall growth of 22 per cent led by iPhone 12 and 13. iPhone 13 Pro.
The company is likely not to backfill some positions too, the report noted late on Monday….reports Asian Lite News
After Microsoft, Meta and Google, Apple has reportedly become the next Big Tech company to slow down hiring for 2023 owing to tough global macroeconomic conditions.
The hiring changes at Apple will not affect all the teams but some verticals will see decreased hiring activities next year, according to Bloomberg.
The company is likely not to backfill some positions too, the report noted late on Monday.
Apple is likely to release its much-anticipated augmented reality (AR)-mixed reality (MR) headset in January next year, as the buzz around metaverse gains steam.
Last week, Satya Nadella-run Microsoft became the first tech giant to lay off employees as part of a ‘realignment’.
The layoffs at Microsoft reportedly affect nearly 1 per cent of its 1,80,000-strong workforce across its offices and product divisions.
Microsoft has also slowed hiring in the Windows, Teams and Office groups.
Google CEO Sundar Pichai has informed staff about a hiring slowdown this year while Meta (formerly Facebook) has warned employees of “serious times” and has issued a hiring freeze for certain roles.
Twitter has also cut 30 per cent of its recruiting team while Elon Musk-run Tesla has been laying off hundreds of employees.
Other tech companies that have slowed hiring include Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.
Cloud major Oracle recently considered laying off thousands of workers to save up to $1 billion in cost-cutting measures, the media reported.
Meanwhile, tech giant Meta is likely looking forward to bidding goodbye to a few employees as a media report says that the platform has asked managers to identify people for layoffs.
According to The Information, Meta Platforms’ Vice President of Remote Presence and Engineering Maher Saba has instructed managers to identify and “move to exit” poor performers as the company struggles with macroeconomic pressures and hits to its advertising business.
In a post to Meta’s internal messaging system, Saba, who has been with Meta for eight years, told managers to think about the value their team members bring to Meta.
“If a direct report is coasting or a low performer, they are not who we need; they are failing this company,” Saba was quoted as saying.
“As a manager, you cannot allow someone to be net neutral or negative for Meta,” Saba added.
Managers should identify people on their team who “need support” by 5 p.m. on Monday and “move to exit people who are unable to get on track,” the post said.
Representatives for Meta, including Saba, did not respond to requests for comment by the website. Meanwhile, the company recently warned employees to expect a tough second half of the year.
Recently, Meta chief product officer Chris Cox detailed the company’s financial dilemma in an internal memo that detailed key areas where the social media giant plans to invest.
Cox reiterated statements made by Meta CEO and co-founder Mark Zuckerberg during a call with analysts as part of the company’s first-quarter earnings report.
He added that the company is in “serious times here and the headwinds are fierce,” underscoring that its challenges aren’t likely to vanish anytime soon.
Apple regained its crown as the world’s largest company by market capitalisation with a valuation 6 per cent and 13 per cent ahead of Saudi Aramco and Microsoft, respectively…reports Asian Lite News
The market capitalisation of the top 100 companies globally increased from $10.3 trillion to $31.7 trillion, an increase of 48 per cent, from March 2020 till March 2021, a new report said on Sunday.
Apple topped the list with $2.85 trillion in market cap, followed by Saudi Aramco, Microsoft, Alphabet and Amazon, according to the data provided by London-based accounting company PwC.
Apple regained its crown as the world’s largest company by market capitalisation with a valuation 6 per cent and 13 per cent ahead of Saudi Aramco and Microsoft, respectively.
Reliance Industries (at 58th position) and Tata Consultancy Services (69th spot) were the only two companies from India in the global list.
There were no direct entrants to the ‘Global Top 100’ companies via IPO despite a buoyant IPO market.
“The threshold to enter the list is now $129 billion, potentially creating a barrier to future entrants via IPO,” the report noted.
Samsung Electronics Co was the world’s 22nd-largest company in terms of market capitalisation, down seven notches from a year earlier.
The tech giant was the only South Korean company on the list with a market value of $342 billion, as of March.
Taiwan Semiconductor Manufacturing Co. came in 10th, with its market cap reaching $541 billion, up by one notch from a year earlier.
Amazon’s market capitalisation increased by 61 per cent in the year to March 2021, supported by the growing “stay-at-home economy” seen throughout 2020 and into 2021, although Amazon did not move up from fourth position.
Elon Musk-run Tesla’s market capitalisation increased from $96 billion in March 2020 to $641 billion in March 2021, an astonishing 565 per cent increase and a clear outlier in the top 10 risers.
All regions and component countries experienced a relative increase in market capitalisation of the companies listed in the ‘Global Top 100’.
In-line with expectations, the United States continues to dominate the ‘Global Top 100’ list in terms of market capitalisation and number of companies, with 59 companies accounting for 65 per cent of total market capitalisation, the data showed.
Technology continues to be the largest sector in terms of market capitalisation ($10.5 trillion).
Global Top 100 Technology companies saw a 71% increase as compared to their value as at March 2020, in-line with the wider industry index performance.
“As a point of comparison, in the private company domain, half of the Top 100 unicorns valued at $1 billion and above (at 31 March 2021) were from the US, broadly in line with the ‘Global Top 100’ of public companies,” the report noted.
The value of the top 100 unicorns grew by 30 per cent to $1.1 trillion in the year to March 2021, behind the public companies’ market capitalisation increase in the same period (49 per cent).
After Musk, the 10 most highly compensated Fortune 500 CEOs of 2021 are all tech and biotech CEOs, including the heads of Apple (Tim Cook)…reports Asian Lite News
Tesla and spaceX CEO Elon Musk has topped the list of the most highly compensated CEOs on the Fortune 500 in 2021.
After Musk, the 10 most highly compensated Fortune 500 CEOs of 2021 are all tech and biotech CEOs, including the heads of Apple (Tim Cook), Netflix (Reed Hastings), and Microsoft (Satya Nadella).
In 2021, Musk “realised” compensation worth almost $23.5 billion, from exercising some Tesla stock options awarded in a 2018 multiyear “moonshot” grant.
That was — by far — the biggest CEO payday in 2021, according to Fortune.
Tesla ranked 65 on this year’s Fortune 500. The company had a blockbuster in 2021, bringing in $53.8 billion in revenue, up 71 per cent from 2020.
Meanwhile, the Apple CEO earned $770.5 million in 2021 alone, mostly as a part of a 10-year grant of shares worth $1.7 billion. The tech giant ranks 3 on the Fortune 500.
The company faced challenges because of the global chip shortage, but successfully began manufacturing the equipment in-house, the report said.
Hang, the co-founder of NVIDIA, and Reed Hastings of Netflix bagged third and fourth spots, respectively.
More than 90 per cent of Apple products such as iPhones, iPads and MacBook laptops are manufactured in China by outside contractors, according to analysts…reports Asian Lite News
Tech giant Apple has reportedly told its suppliers that it wants to expand manufacturing outside of China. And, India and Vietnam are getting a closer look from the company as alternatives.
According to The Wall Street Journal, the tech giant has told some of its contract manufacturers that it wants to boost production outside China, citing Beijing’s strict anti-Covid policy among other reasons, people involved in the discussions said.
India and Vietnam, already sites for a small portion of Apple’s global production, are among the countries getting a closer look from the company as alternatives to China, the report said.
More than 90 per cent of Apple products such as iPhones, iPads and MacBook laptops are manufactured in China by outside contractors, according to analysts.
Apple’s heavy dependence on the country is a potential risk because of Beijing’s authoritarian Communist government and its clashes with the US, analysts have said.
Any move by Apple to emphasise production outside China could influence the thinking of other Western companies that have been considering how to reduce dependence on China for manufacturing or key materials, the report said.
Such consideration has stepped up this year after Beijing refrained from criticising Russia for its invasion of Ukraine and carried out lockdowns in some cities to fight Covid-19, it added.
Apple currently sells the $99 HomePod mini as the only model. The original HomePod with much more impressive sound was discontinued last year after a price cut from $349 to $299…reports Asian Lite News
Tech giant Apple is likely planning to launch a new version of HomePod smart speaker in late 2022 or by early 2023.
According to reliable supply chain analyst Ming-Chi Kuo, the tech giant is targeting the fourth quarter of this year or the first quarter of next year for launching the next HomePod model, 9To5mac reported.
Presumably, this will be a larger model than the HomePod mini, but one with features that help bring the cost down from $300 like its predecessor.
Apple currently sells the $99 HomePod mini as the only model. The original HomePod with much more impressive sound was discontinued last year after a price cut from $349 to $299.
Kuo went on to say that while he views smart speakers as “undoubtedly one of the essential elements of the home ecosystem”, he doesn’t think Apple has realised how to be successful in the smart speaker domain.
The analyst, recently, predicted that the tech giant is developing a new version of the Apple TV set-top box with the goal of lowering the cost structure.
When asked if Coinbase would release its own cryptocurrency hardware wallet, Armstrong pointed out that he does not believe that most people would carry a separate wallet used solely for crypto…reports Asian Lite News
Cryptocurrency exchange Coinbase’s CEO and co-founder Brian Armstrong has called out Apple over “potential antitrust issues” in a recent episode of the Superstream Podcast.
Armstrong appeared on the April 20 episode of Superstream Podcast to talk about the current state of cryptocurrency, entrepreneurship, and the company he co-founded: Coinbase, reports AppleInsider.
Coinbase is a cryptocurrency exchange platform on desktop and mobile, allowing users to purchase and exchange popular cryptocurrencies. The Coinbase App is the 18th most popular Finance app on the App Store, as pointed out by 9to5mac.
When asked if Coinbase would release its own cryptocurrency hardware wallet, Armstrong pointed out that he does not believe that most people would carry a separate wallet used solely for crypto.
He stated that most people would be more comfortable using something inside of their phones. However, he believes that big tech, and goes as far as naming Apple specifically, does not allow features that would be required to make a user-friendly phone-based wallet plausible.
“Apple so far has not really played nice with crypto, they have actually banned a bunch of features that we would like to have in the app, but they just won’t allow it – so there’s potential antitrust issues there,” he said.
While Armstrong does not say what features have been banned, he does go on to say that he believes crypto-compatible phones will be necessary in the future and that they could become popular.
This is not the first time that Armstrong has spoken out against Apple. In 2020, he argued that Apple’s App Store regulations stifle innovation in the cryptocurrency space.
