Tag Archives: billion

Xiaomi Said to Target as Much as $6.1 Billion in Honk Kong IPO

Chinese smartphone maker Xiaomi Corp is planning to raise up to $6.1 billion (roughly Rs. 41,500 crores) from a Hong Kong IPO launching this week, people with knowledge of the matter said, in what will be one of the biggest tech floats globally of recent years. Xiaomi, which also makes Internet-connected devices, plans to sell about 2.18 billion shares including about 65 ... Read More »

Toshiba Completes $21 Billion Sale of Chip Unit to Bain Consortium

Embattled conglomerate Toshiba on Friday completed the $21 billion (roughly Rs. 1.41 lakh crores) sale of its prized chip unit to an investment consortium, a move seen as crucial to keeping the Japanese firm afloat. The deal had been delayed while Chinese regulators examined whether it could violate anti-trust laws, but they finally granted approval in mid-May. “Toshiba hereby gives notice that the ... Read More »

Google Bets $1.1 Billion More Brains Can Help Take On Apple

  HIGHLIGHTS Google officially closed its $1.1 billion deal with HTC The Mountain View company gains 2,000 smartphone specialists The move should help it compete with Apple on smartphones Google officially closed its $1.1 billion (roughly Rs. 7,000 crores) deal with HTC, adding more than 2,000 smartphone specialists in Taiwan to help the search giant chase Apple in the cut-throat premium handset market. The deal will ... Read More »

iPhone Battery Replacement Programme Will Cost Apple $10 Billion From Reduced Sales: Barclays

Apple’s offer to replace old batteries at cheaper rates may affect new iPhone sales in 2018. Barclays analyst Mark Moskowitz, in a note, says that even a small percentage of people opting for battery replacement over upgrade could affect the sale of new iPhone models. Apple had recently apologised for slowing down iPhone models and offered a new battery replacement programme. Under the ... Read More »

Skype for Android reaches 1 billion downloads

It’s been a busy year for Skype, Microsoft’s messenger. It reached version 8.0, added PayPal support and themes, it plays better with other apps too. And all that hard work has been rewarded as the Android app joined the 1 billion downloads club. Skype for Android hit 100 million downloads in July 2013, then grew to 500 million downloads back in February 2015 and has continued ... Read More »

Broadcom Wi-Fi Chip Flaw Threatens 1 Billion Smartphones, Google and Apple Roll Out Fixes

A Broadcom chip flaw found and demoed by Exodus Intelligence’s Nitay Artenstein exposed a potential critical threat to 1 billion Android and iOS smartphones. This exploit was possible due to a specific Broadcom Wi-Fi chip bug that let the hacker gain remote execution access on smartphones. Fortunately, before this could happen, Google and Apple both have fixed the bug. The Wi-Fi chip is vulnerable ... Read More »

GM puts on hold one billion dollar investment for India

GM has announced that it will put on hold a one billion dollar investment  that it had announced in 2015 for the Indian market. The announcement comes on the back of struggling India sales and lack of strong volume models American automaker. The announcement in 2015 included 10 locally produced models over the next few years. They would be based ... Read More »

How does China respond to US chip threats? With a $30 billion factory

For China, actions speak louder than words, especially in the escalating chip battle with the U.S., which has been hurling out verbal threats in recent months. The Chinese chip infrastructure is getting a serious boost from Tsinghua Unigroup, which is investing US$30 billion in a new foundry to make chips. The state-owned Tsinghua Holdings is a majority shareholder in Tsinghua ... Read More »

Daimler to invest $11 billion for development of electric vehicle

The dieselgate scandal by Volkswagen has resulted in a shifting trend amongst the German manufacturers for working towards the development of electric vehicles in their forthcoming car line-up. The latest entrant to this fray for electrification is Daimler, the parent company of Mercedes-Benz, who have revealed that they will invest up to $11 billion (approx. Rs 7000 crore) into the ... Read More »

Samsung estimates $3 billion loss over the next two quarters

There is no doubt that Samsung is sure to lose boatloads of money over the Samsung Galaxy Note7. Today, the company announced that it expects 3.5 trillion won (around $3 billion) to negatively impact the operating profit through Q4 and Q1 of 2017. That’s after Samsung’s re-allocation of the expected cost expense of the discontinuation of the Note7 to its ... Read More »