Samsung spins off OLED businessSamsung Display separated its organic light-emitting diode OLED business unit in a new move to restructure its unprofitable businesses."Samsung Display separated the company's OLED business division and more of Samsung Display's workforce joined the OLED business unit.The latest decision was part of the ongoing Samsung Group-initiated efforts to restructure unprofitable businesses," an official familiar with the matter told the Korean Times.The move might put the company's liquid crystal display LCD business in danger, the official added."Now, Samsung is initiating an exit strategy for LCDs, which are no longer promising and have become unprofitable."
Micron has replaced its storage business unit VP, Darren Thomas, with a former SanDisk exec, Anand Jayapalan.Micron's recently appointed CEO Sanjay Mehrotra, who arrived in April, was SanDisk's CEO when it was acquired by Western Digital, staying on at WD for a time and then joining Micron to succeed Mark Durkan, who retired.Mehrotra appointed former SanDisk SVP of corporate engineering Jeff VerHeul to be SVP of Non-Volatile Engineering in June.Sumit Sadana was hired as EVP and chief business officer also in June and he is a SanDisk alumnus too, having been EVP, chief strategy officer and general manager for Enterprise Solutions.Now Jayapalan makes three ex-SanDisk hires by Mehrotra.Jayapalan was SanDisk's VP marketing for Enterprise Storage Solutions, joining in 2013 from Blackberry.
Huawei is elevating its cloud services business unit as a sign that it is focusing dedicated resources to the growth of cloud computing.The China-based company published an internal notice to its employees about the organization structural adjustment, which will upgrade its cloud business unit to a first-tier unit, with more business decision-making power.Huawei's cloud business unit was established in April 2017 and it is led by Huawei's IT product line president Zheng Yelai.Prior to the adjustment, the cloud BU was a second-tier unit and belonged to the company's product and solutions unit.However, as a first-tier unit, the cloud BU is still on a lower level than Huawei's enterprise business group, carrier business group, and consumer business group.The adjustment does not affect its core management.
Samsung has announced a $300 million fund to invest in a range of automotive technologies.The new Samsung Automotive Innovation Fund will invest in connected car and autonomous driving technologies covering artificial intelligence (AI), machine vision, smart sensors, safety features, cybersecurity, and more.The fund’s first investment will be in Austria’s TTTech, a company specializing in safety, networking, and software integration for ADAS (advanced driver-assistance systems) and automated driving platforms.Samsung revealed it will invest €75 million ($89 million) in the company.The Korean electronics giant has made no secret of its intentions in the broader automotive realm, and it has long been ramping up its efforts in research and development for products relating to transport.Samsung previously invested in battery technology for electric vehicles, including Seeo, which is a California-based company that develops rechargeable lithium-ion batteries, and it has also invested in StoreDot, a company that’s building instant-charging batteries for electric cars.
NetApp is setting up a Cloud Infrastructure business unit, giving it FlexPod, SolidFire and StorageGRID, and hiring a cloud services hotshot to run it.Brad Anderson is said hotshot, a NetApp outsider, coming in from being President and COO of Gravitant, a cloud services brokerage company, which IBM bought in November 2015.Before that he was President of Dell's Enterprise Products Group from 2005 to 2012, and prior to that, the general manager and SVP of HP's Industry Standard Servers unit from 1996 to 2005.NetApp CEO George Kurian sang Anderson's praises: "Brad understands how to focus an organization to evolve rapidly in response to a dynamic market and has a track record of turning multiple emerging products into multimillion- and billion-dollar businesses."The Cloud Infrastructure BU will focus on a portfolio of offerings that help customers build cloud infrastructure, hence converged infrastructure solution FlexPod, SolidFire and StorageGRID coming under Anderson's responsibility, plus joint Fujitsu effort nFlex.He does not get either the E-Series or the ONTAP arrays though.
Here Technologies, the mapping company valued at around $3 billion that counts a consortium of car makers, Intel and others among its shareholder/owners, today announced a move that underscores its intention to focus on more than just the outdoor navigation business.The company has acquired Micello, a startup that offers a database of indoor maps and provides a platform for businesses to build and use these maps and corresponding datasets across a variety of applications.It was once described to us as the “Google Maps inside a building” (years before Google itself made any moves indoors).Applications will include tracking movements in a factory, optimizing workspaces, mapping and navigation in large transit centers and last-mile guidance for vehicles.“The acquisition of Micello is an important strategic investment for us to rapidly grow our ecosystem of partners and accelerate our growth in indoor mapping.Financial terms of the deal — which is expected to close in the first quarter of 2018 — have not been disclosed.
(Reuters) — Alphabet Inc launched a new business unit on Wednesday that will sell cyber security software to Fortune 500 companies, the latest move by the parent of Google to become a big player in corporate computing.The new unit, dubbed Chronicle, is betting on the premise that machine learning software, a type of artificial intelligence, can sift and analyze massive stores of data to detect cyber threats more quickly and precisely than is possible with traditional methods.Stephen Gillett, chief executive of Chronicle and a former top official at the cyber firm Symantec Corp, said access to Google’s expertise in automated data analysis would give the company an edge.Alphabet’s big cash pile and existing customer relationships also make Chronicle a threat to security tools vendors such as Symantec, Palo Alto Networks Inc and Cylance Inc.The global cyber security market is worth nearly $100 billion, according to market researcher Gartner.But analysts note that previous efforts by internet search and networking companies to get into the cyber security business have faltered.
Both traditional financial organisations and Fintechs must seek out collaboration or face the risk of failing.Fintech firms and traditional financial services organisations are increasingly creating a symbiotic relationship, seeking out beneficial collaborations.Rather than overthrowing those that they sought to replace, Fintechs have apparently realised that they will struggle to succeed alone, leading to an “Win-win collaboration,” between the two, according to Capgemini’s World FinTech Report 2018.Whilst 90% of Fintech firms state that agility and providing an enhanced customer experience are key to competitive advantages, they have struggled to scale up their legacy free approach.Creating those financially-viable business models has been a struggle, despite Fintech firms raising nearly $110bn since 2009.“With more than 75 percent of FinTech firms identifying their primary business objective as collaborating with traditional firms, it is essential that both FinTechs and traditional firms transform their business models by collaborating to drive innovation while retaining customer trust,” said Anirban Bose, Head of Capgemini’s Financial Services Global Strategic Business Unit and Member of the Group Executive Board.
Reliance Communications has been given the go-ahead to sell off its wireless business unit after National Company Appellate Law Tribunal removed an order blocking the sale.The NCLAT had blocked the sale of the wireless assets due to various legal challenges, including one from Ericsson.The Swedes claimed RCom had not paid it for equipment and services for two years, and instead tried to pull a fast one by issuing a few post-dated cheques.After this obstruction has been lifted, RCom is now free to offload the unit to Reliance Jio.“As directed by the Hon’ble Supreme Court, RCom moved the Hon’ble NCLAT today for vacation of the stay in relation to sale of its tower and fiber assets” a RCom statement reads.“The Hon’ble SC had itself vacated the stay in relation to spectrum, MCNs and real estate yesterday.
Chinese smartphone maker Xiaomi is looking to expand its presence in Africa amid increased domestic competition and slowing in the Chinese smartphone market, Jiemian reports (in Chinese).Xiaomi will set up a business unit for the African region to accelerate its expansion on the continent, the company said in an internal letter to its employees.Wang Lingming, vice president of the company, has been appointed head of the new unit and will report to senior vice president and global business head Wang Xiang.The company has seen success in the overseas market, where it generated more than 40% of its revenue in the third quarter of 2018.It has also steadily expanded in India on the back of its affordable pricing, replacing Samsung as the top industry player in the second half of 2018.The increased focus on Africa puts the company at odds with well-established rivals on the continent.
The consumer business unit is now clearly the most successful, though there is still minor momentum in the carrier business.Although the consumer business unit grew 45%, astronomical growth in an overarching sluggish segment, revenues in the carrier business declined by 1% year-on-year.This business unit has declined, but when you consider context, few will complain with these figures.In the month since Mobile World Congress, Huawei has collected an additional five contracts and shipped 10,000 base stations.“Through heavy, consistent investment in 5G innovation, alongside large-scale commercial deployment, Huawei is committed to building the world’s best network connections,” said Guo Ping, Huawei’s Rotating Chairman (pictured).As we work towards this goal, we have been explicitly clear: Cyber security and user privacy protection are at the absolute top of our agenda.”
SoftBank's Vision Fund is known for infusing massive amounts of cash into startups like Uber and WeWork to help excellerate growth.But the investment fund has growth plans of its own, according to one executive's remarks during the Milken Institue Global Conference on Monday.Rajeev Misra, the CEO behind the SoftBank Vision Fund, said the investment unit plans to double in size from 400 people to 800 people in the next 18 months.Read more stories like this on the Business Insider homepage.BEVERLY HILLS— SoftBank's Vision Fund is known for injecting millions (or billions) of dollars in capital into startups to help them supercharge growth.It turns out, the fund has plans for some mega-growth of its own.
What happened: Bytedance has recently hired Facebook veteran Blake Chandlee as the vice president of global business solutions for TikTok, Bloomberg reported.Chandlee had worked on Facebook’s partnerships in Europe, Latin America, and the US for a decade.Chandlee announced the hire with a Facebook post on May 20, saying that he believes “different views, perspectives, and models make everything better.” Bytedance previously hired several executives from YouTube to help expand the TikTok brand.Why it’s important: The new hire comes as Bytedance accelerates TikTok’s monetization in existing overseas markets.The company has recently reshuffled Douyin’s leadership, naming Musical.ly co-founder Zhu Jun to lead Douyin and TikTok.As someone who is experienced in building teams and scaling businesses, Chandlee could potentially speed up TikTok’s advertising roll out, which greatly lags its Chinese sister app, Douyin.
This time it is about one of China’s most high-profile startups.In a post that has since been deleted on professional networking platform Maimai, employees of Alibaba affiliate Ant Financial discuss a work schedule even harsher than the widely criticized 996, which refers to working from 9 a.m. to 9 p.m. six days a week.And I feel bullied working with a bunch of people who “fling black pots’ at each other, snatch opportunities, and take credit for them… I’m really tempted to just quit and find another job,” the user added.The anonymous employee referenced “10-12-6,” a work schedule of 10 a.m. to 12 a.m., six days a week that is a play on the infamous 996 work schedule which sparked an online protest against China’s tech firms after the post on GitHub went viral in March.Pressure to overwork seems to fall on those that work in the core business unit.One other anonymous user complained that Ant Financial often held late-night work meetings.
What happened: Chinese smartphone maker Xiaomi has registered a new trademark for “Xiaomi Logistics” under which the company will offer courier and express delivery services in China, according to the Trademark Office of China’s National Intellectual Property Administration.The trademark was approved on June 21 and spans ten years to June 20, 2029.Xiaomi responded to local media that the move was only for brand protection purposes.Why it’s important: Xiaomi’s move to register a logistics trademark is widely seen as an effort to expand into logistics.Courier service is an important component for Xiaomi, a brand that initially sold online only.The company has been partnering with third-party couriers services like SF Express and YTO Express for delivery.
Vodafone has confirmed plans to move its tower assets across Europe into a separate business unit that could go eventually go public.The company has been exploring ways to better monetise its mast infrastructure as it seeks to find €1.2 billion in cost savings.The new division will be Europe’s largest, commanding control of nearly 62,000 towers in ten countries.This opens up the greater possibility of infrastructure sharing with other operators or opening up the unit to other investors.5G in the UK: the what, where and how muchVodafone itself will pursue an active and passive network sharing strategy, believing this will enable it to roll out 5G quicker, cheaper and faster.
Ikea’s smart home investments to date have been smart but scattered – now the Swedish home goods brand says it’s going to amp up its smart home bets with a brand new dedicated business unit.The company’s smart home endeavors began in 2012, and focused on wireless charging and smart lighting.It’s iterated in both areas since, developing self-installed integrated wireless chargers for its furniture, as well as light/charger combos, and finally with a new partnership with Sonos that produced the Symfonisk line of wireless smart speakers.Ikea also has its own ambitions in terms of being the hub for future smart home products, not only from a hardware perspective, but also via its Home smart app, which it rebranded from being more strictly focused on its Tradfri line of connected bulbs in June.During the Symfonisk launch, Ikea told me it has broader ambitions for the Home smart app as a central hub for connected home control for its customers.“At IKEA we want to continue to offer products for a better life at home for the many people going forward.
Ikea is formalizing what has recently become all too obvious: the company is making a major bet on smart home tech as a source of new revenue.To do this, Ikea announced that it will invest heavily in a new “Ikea Home smart” business unit with end-to-end responsibility for its burgeoning portfolio of smart devices.With access to 780 million shoppers who visit Ikea stores each year, the announcement also serves as a wake-up call to smart home incumbents like Google and Amazon.“We have decided to invest significantly in Home Smart across IKEA to fast-forward the development.This is the biggest New Business we are establishing since the introduction of Children’s Ikea,” said Peter van der Poel, manager Ikea Range & Supply, aka, the box that sits above Ikea of Sweden within the complicated Ikea Group org chart.The new business unit is helmed by the aptly-named Björn Block, and sits alongside Ikea of Sweden’s ten other business units that include Lighting, Livingroom & Workspace, Textiles, Kitchen and Dining, and Ikea Food.
This is an excerpt from a story delivered exclusively to Business Insider Intelligence Connectivity & Tech subscribers.Sweden-based home retailer IKEA is collecting its various smart home efforts into a single new business unit, according to The Verge.IKEA's large retail base and low-cost smart home options could put the company in a position to establish a presence in the connected home market and supply a variety of devices consumers will actually use.Here's what it means: With increased investment and a dedicated team, IKEA will likely broaden its range of smart home offerings while also leveraging its retail channel to challenge the likes of Samsung, Philips, and Nest.The retailer's current scope of smart home devices is fairly limited, with its initial forays confined to well-established paths within the smart home.Its first entry to the market was its Trådfri smart light bulbs, which followed the mold of products like Philips' Hue smart bulbs; Trådfri bulbs likewise require that a hub be set up to control the lights through IKEA's app or by voice.
John Donovan, CEO of AT Communications, announced today his plans to retire effective October 1, 2019.Donovan has for the past two years led AT’s largest business unit, which services 100 million mobile, broadband and pay-TV customers in the U.S., as well as millions of business customers, including nearly all the Fortune 1000.The news comes amid several big changes in that business unit itself, and more in the broader telecom industry.For starters, AT had just rebranded its over-the-top streaming service DIRECTV NOW to AT TV NOW, and just last week rolled out a brand-new TV service, AT TV, in 10 test markets.While DIRECTV NOW (aka AT TV NOW) is meant to compete with other over-the-top streaming services like Dish’s Sling TV, Hulu with Live TV, YouTube TV and others, the new AT TV is a more conventional — though still “over-the-top” — option that can work with any broadband connection.However, it locks in customers to two-year contracts, requires a set-top box, and has packages that range from $60-$80 per month, much like a traditional TV subscription.