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Archivo del Autor: Belen De Leon

LG forecasts record Q1 profit despite its struggling smartphone division

LG’s mobile business may be a serial loss-maker, but the rest of the Korean firm’s interests are doing pretty well… better than ever actually according to its newest earnings forecast.

Like fellow countryman Samsung, LG is on course for company-record Q1 financial results. The company is predicting an operating profit of 1.1 trillion KRW ($1.03 billion) on total sales of 15.1 trillion KRW ($14.1 billion) for the quarter.

That’s up 20 percent year-on-year and it represents the first time LG has made a profit of over 1 trillion KRW in the first quarter of the financial year.

The financial forecasts don’t include in-depth analysis of LG’s divisions — the full earnings are due later this month — so we don’t yet know what is driving this record for sure. Carrying on from its Q4 earnings, which helped 2017 become LG’s most-profitable financial year since 2009, we know that the firm’s home appliance and TV divisions were the star performers, while its home entertainment division saw operating income jump 134 percent to hit $345.96 million.

LG Mobile is likely to once again drag the numbers down.

Its newest device — the V30S ThinQ — is unlikely to move the needle with consumers as TechCrunch’s Brian Heater noted when he reviewed the device at Mobile World Congress in February.

To give credit, new LG Mobile CEO Hwang Jeong-hwan — who took the top job in November — managed to reduce losses from 375.3 billion KRW ($331.37 million) in Q3 to 213.2 billion KRW ($192.33 million) in Q4, but turning the division profitable is much harder than cutting the bleeding.

LG Mobile has posted just one-quarter of profitability over the last two years, that was a small $3.2 million profit Q1 2017, the first quarter of sales of its G6 flagship. Previous to that, you have to go way back to Q1 2015 to find a positive quarter for its mobile division.

“Due to the challenging business environment of smartphones, the mobile communications arm is presumed to have not posted a sharp improvement in performances,” NH Investment & Securities said in a note according to Yonhap.

That said, the company’s newest flagship phone — the G7 — is rumored to be dropping next month, so it won’t be too long before we can see what the new management team has in mind.


Source: TechCrunch

Cyberinsurance Tries to Tackle the Unpredictable World of Hacks

Insuring against hacks and breaches can be a lucrative business—but also presents unique challenges.
Source: Wired

A Brain-Boosting Prosthesis Moves From Rats to Humans

An algorithm tailored to individual brain activity shows it can boost memory with electrical zaps.
Source: Wired

Mark Zuckerberg testifies to Congress: How to watch live – CNET

Facebook’s CEO will answer federal lawmakers’ questions in the Senate and House.
Source: CNET

First Sponsor Challenges Announced for the TC Hackathon at VivaTech

We’re busy searching all of Europe for the very best and brightest developers, hackers, tech builders and marketers. Why? Because we want you to come and compete in the TechCrunch Hackathon at VivaTech, of course! The Hackathon takes place at the Expo Porte de Versailles in Paris on May 25-26 and, if you act quickly enough, you can get your free tickets today. Alors, dépêche-toi!

Hundreds of supremely talented individuals will gather, form ad-hoc teams and combine their skills to hack, code and program their way to a new product like Quick Insurance, for example, the grand-prize winner of Disrupt Berlin Hackathon 2017. Or maybe something completely unlike it. That’s the awesome thing about the Hackathon. You just never know what might happen.

You get a mere 24 hours to conceive, design and build your tech creation and submit via BeMyApp, the official Hackathon platform. Then each team gets just 60 seconds to present their product to a panel of Hackathon judges — who award each team a ranking from 1-5. It’s arduous work at a feverish, frantic pace. And it’s glorious, semi-chaotic fun.

The grand-prize winner walks away with €5,000 and serious bragging rights. Plus, every team that earns a three or higher scores five tickets to VivaTech 2019 and two Innovator tickets to TechCrunch Disrupt Berlin in November.

But hey, it’s not a proper Hackathon without contests and prizes from our sponsors and this, you can be sure, is a proper Hackathon. We’ve got the scoop on our first sponsor challenge from leboncoin:

leboncoin

Almost everyone in France knows leboncoin. 98 million exchanges per year, leboncoin is the first classifieds site in France, in real estate, jobs, vehicles and other categories, with 1 million new ads every day. leboncoin is challenging our hackers to develop a marketplace of the future that emphasizes and improves on the relationship between the buyer and the seller. Feel free to use innovative technologies like augmented reality, IoT, and artificial intelligence – the hacker with the most creative product will get €5000.

 

There’s only one criterion to participate in this Hackathon: you must be a resident of one of these European countries. Tickets are free, but the supply is limited. If you want the chance to show us your mad skills, come to the TechCrunch Hackathon at Vivatech. Get your free tickets right here.


Source: TechCrunch

Your ISP can peep on your browsing, so Cloudflare is pulling down the shade

Everyone on the internet is looking for ways to protect their data online. We spoke to the cofounder of Cloudflare, which has built a privacy-first DNS resolver that claims to make the internet safer – and faster.

The post Your ISP can peep on your browsing, so Cloudflare is pulling down the shade appeared first on Digital Trends.


Source: Digital trends

Facebook, AggregateIQ now being jointly probed by Canada, B.C. data watchdogs

Privacy watchdogs in Canada and British Columbia are combining existing investigations into Facebook and AggregateIQ. The latter being a Victoria-based ad targeting tech company that has been linked to Cambridge Analytica, the political consultancy at the center of the Facebook data misuse storm.

CA whistleblower Chris Wylie — who last month gave public testimony revealing how millions of Facebook users’ data was passed to his former employer for political ad targeting — has described AggregateIQ as the Canadian arm of CA’s parent entity, SCL. (Although AggregateIQ has denied any affiliation with CA or SCL, claiming on its website “it is and has always been 100% Canadian owned and operated”.)

“The investigations will examine whether the organizations [Aggregate IQ and Facebook] are in compliance with Canada’s Personal Information Protection and Electronic Documents Act(PIPEDA) and BC’s Personal Information Protection Act (PIPA),” said Canada’s watchdog in a statement about the now joint investigation.

“The Office of the Information and Privacy Commissioner for BC opened its investigation into AggregateIQ late last year. Last month, the Office of the Privacy Commissioner of Canada launched an investigation into allegations about unauthorized access and use of Facebook user profiles.

“The two offices decided to jointly investigate these matters as Facebook and AggregateIQ are subject to both PIPEDA and PIPA.”

The statement does not go into any new detail about the investigations as it notes they are ongoing.

The OPCC’s Facebook investigation, which was launched on March 20, followed a complaint against the company. Facebook has since confirmed that more than 620k Canadian users had their data scraped and passed to CA — the majority of whom would not have consented or even known their information was being shared in this way.

Meanwhile AggregateIQ’s role in the UK’s 2016 Brexit referendum vote has been the subject of increasing scrutiny in the country, following a lengthy investigation by the Observer of London looking at links between the various entities involved and how money was spent by different groups campaigning for the UK to leave the European Union.

The company received £3.5M from leave campaign groups in the run up to the 2016 referendum, and has been described by leave campaigners as instrumental in securing their win.

AggregateIQ is now among 30 companies being investigated by the UK’s data watchdog, the ICO, as part of an ongoing (and now almost year-long) investigation into the use of data analytics for political purposes. Facebook and Cambridge Analytica are also part of that probe.

Giving an update on the investigation yesterday, the ICO said it looking at “how data was collected from a third party app on Facebook and shared with Cambridge Analytica”.

The watchdog secured a warrant to enter and search the London offices of CA last month.

The UK’s Electoral Commission is also investigation Brexit campaign spending — and has previously asked Facebook, Twitter and Google to provide information about ad spending linked to Russia.

Earlier this month Facebook revealed it had removed 70 Facebook accounts, 138 Facebook Pages, and 65 Instagram accounts run by the Russian government-connected troll farm the Internet Research Agency.

The company did not immediately respond to a request for comment on the now joint Canadian and British Columbian data probe.

Facebook is also facing shareholder lawsuits and a probe by the FTC into the data misuse scandal, among others.


Source: TechCrunch

Super Cruising with the 2018 Cadillac CT6's autonomous tech video – Roadshow

Caddy’s flagship sedan debuts the first “hands-off” highway autopilot system in the US. We go for a Super Cruise to see how it works.
Source: CNET

2018 Cadillac CT6 Platinum with Super Cruise review – Roadshow

We put Cadillac’s hands-free highway Super Cruise system to the test on the road and even in the rain.
Source: CNET

Grab delays shuttering Uber app as Singapore probes merger deal

Fans of Uber in Singapore will have a little more time to continue using the app after Grab, the rival that is acquiring Uber’s business in the region, agreed to extend the life of the app until April 15 while the country’s competition commission reviews the merger deal.

Grab had originally intended to close the Uber app by April 8, but that has been delayed in Singapore by one week following a request from the Competition and Consumer Commission of Singapore (CCCS) while it continues to assess the implications of the tie-up.

This agreement only covers Singapore, however, so the Uber app will be closed in the seven other countries where it was operational on April 8. Uber Eats is also being transitioned to Grab, as part of its Grab Food platform, and it will be closed at the end of May.

Last week, the CCCS said it has “reasonable grounds” to suspect that the deal may fall foul of section 54 of Singapore’s Competition Act. The organization issued an Interim Measures Directions (IMD) to Uber and Grab — the first of its kind in Singapore — which instructed both parties to “maintain pre-transaction independent pricing, pricing policies and product options,” hence the extension of life for Uber’s app.

Grab said it had provided an alternative proposal “which takes into account our role in Singapore’s vibrant point-to-point transport industry and how Grab serves commuters and drivers,” which the CCCS confirmed that it is reviewing.

A Grab spokesperson declined to discuss the details of the proposal with TechCrunch.

At this point it is unclear whether the Uber app will get another extension. Assuming that the CCCS doesn’t come to a conclusion within the next week and the IMD remains, then Uber may live on a little longer in Southeast Asia . But, if the commission is ready to move on, then the April 15 close will happen as scheduled.

Here’s the key segment of concern to the commission:

About the Section 54 Prohibition under the Competition Act & Merger Procedures

Section 54 of the Act prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition in Singapore.

CCCS is generally of the view that competition concerns are unlikely to arise in a merger situation unless:

The merged entity has/will have a market share of 40% or more; or
The merged entity has/will have a market share of between 20% to 40% and the post-merger combined market share of the three largest firms is 70% or more.

One major factor is how Grab’s business is viewed. The commision defines the space not as ride-hailing — where Grab would appear to hold a significantly dominant position by acquiring Uber’s business — but instead as “chauffeured personal point-to-point transport passenger and booking services.”

In that respect, taxi companies in Singapore — which allow booking by SMS and phone call, and also offer ride-hailing apps in some cases — may be considered competition which might water down Grab’s market share. Likewise, Grab’s case may be helped by Singapore carpooling service Ryde’s plan to add private car services in an effort to fill some of the gap post-Uber.

Here’s Grab statement in full:

Grab continues to engage closely with the CCCS. We’ve had productive discussions on our alternative proposals, which more appropriately address the CCCS’ objectives during this interim period, and which takes into account our role in Singapore’s vibrant point-to-point transport industry and how Grab serves commuters and drivers. Together with the CCCS and Uber, we’ve agreed that the Uber app will run for another week until 15 April, while the CCCS considers Grab’s proposal. We hope the CCCS will complete its review in an expeditious manner, so that we can continue competing with incumbent transport companies and with new entrants. We will continue working with the CCCS and other relevant agencies to ensure a pro-business and pro-innovation environment, so that Singapore consumers can benefit from new and improved services.

In the meantime, the Grab app operates as per normal. The extension also gives Uber drivers more time to sign up on alternative platforms. Grab has helped thousands of former Uber drivers sign up to the Grab platform and will continue to provide support to those who are interested, as well as to obtain their PDVL.

Note: The original version of this article has been updated to correct that the Uber app will only be extended in Singapore, not across all Southeast Asian markets.


Source: TechCrunch

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