Despite the trade war between the US and China, Chinese smartphone giant Huawei’s revenue for H1 2019 increased 23.2 percent to touch 401.3 billion yuan (approximately $58.3 billion), the company announced on Tuesday. The company’s net profit margin for H1 2019 was 8.7 percent. According to Huawei’s Chairman Liang Hua, operations are smooth and the organization is as sound as ever. With effective management and excellent performance across all financial indicators, Huawei’s business has remained robust.
The changes in e-commerce rules from the Indian government hurt Amazon and Flipkart badly and was driven by a call to protect India’s burgeoning seller class, as well as smaller e-commerce players who cannot match the deep pockets of India’s two biggest online shopping platforms. The focus in the e-commerce sector these days is around deep discounting and predatory pricing, along with an odd case of counterfeit products, but with all the attention around data and policy, the e-commerce business has definitely been hit by the government rules.
Despite delivering a record 95,200 cars in the second quarter (Q2) of 2019, Elon Musk-led electric car maker Tesla reported a net loss of $408 million for the quarter that ended June 30. Tesla reported revenue of $6.3 billion — a significant improvement from Q2 last year when it reported revenue of $4 billion. The company also announced it’s Chief Technology Officer J.B. Straubel is leaving Tesla.
The US Federal Trade Commission (FTC) approved a settlement involving about $5 billion with Facebook over its probe into the tech giant’s privacy violations, a media report said on Friday.
As US government regulators act tough on tech giants over privacy violations and anti-trust activities, Amazon and Facebook spent the maximum in lobbying – around $4 million each – in the second quarter (Q2) this year.
First things first. Before you conjure up irrelevant perceptions around the name, Happiest Minds is no charity or a medical company. It is a Bengaluru-based IT services firm founded by former Mindtree Chairman Ashok Soota. Started about eight years ago with the aim of putting “people” at the center of everything and creating a happy atmosphere for its clients, Happiest Minds reported record profitability in the 2019 financial year with organic growth of 16 percent and the company gives some of the credit for its rise to IBM Cloud. In its digital business services, IBM Cloud has powered the company’s Digital mCaaS (managed content as a service) platform through which it launched a new software-as-a-service (SaaS) business product for its clients globally.
After the International Business Machines Corp. (IBM) completed the acquisition of Red Hat for $34 billion earlier this month, a top executive from the iconic software company with an open-source development model has said that it was a “match made in heaven” that will help it accelerate growth globally, including in India. In India, Red Hat, which specializes in Linux operating systems, has engineering facilities in Pune and Bengaluru.
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