Tech
Nokia’s shares fell 8% after reporting its lowest quarterly net sales since 2015.
(VOR News) – On Thursday, shares of Nokia, a Finnish telecom business, dropped after the company disclosed a decline in its operational profit for the second quarter that was around 32 percent lower than the previous quarter.
We were able to attribute this reduction to the fact that there was a dearth of demand for the 5G equipment that Nokia was producing.
By the time the market opened at nine o’clock London time, the stock of the business that is listed in Helsinki had already experienced a decline of eight percent.
Today, Nokia reported a comparable operating profit of $462 million.
This value was reported by the company. When compared Nokia to the 619 million euros that were recorded for the same period of time in the previous year, this implies a loss of roughly a third more than what was stated.
Data provided by LSEG indicates that the firm reported a decline in its net sales of 18%, bringing the total to 4.47 billion euros.
This Nokia represents the lowest level of net sales attained since the fourth quarter of 2015. This decline was attributed to “ongoing market weakness” by the corporation at the time of the decline.
“The most significant impact was the challenging comparison period from the previous year, which saw the peak of India’s rapid 5G deployment, with India accounting for three quarters of the decline,” Mr. Pekka Lundmark, CEO of Nokia, remarked in the announcement of the results. “The most significant impact was the challenging comparison period.”
Continuing along the same lines, he emphasized that the landscape in the mobile networks business continues to be “challenging as operators continue to be cautious.”
In spite of this, Nokia forecasts that the business situation will become “stabilizing” and that there will be a “significant acceleration in net sales growth in the second half” of the year. The order intake that was seen in the most recent quarter served as the basis for these forecasts.
According to the company’s CEO, “though the dynamic is showing signs of improvement, the recovery of net sales is occurring somewhat later than we had anticipated, which will have an effect on our business group’s net sales assumptions for the year 2024.”
Despite the fact that this has taken place, we are still well on our approach to fulfilling our full-year target, which is further supported by the early action that we have taken addressing cost.
The business continues to strive for a result that is either near to or slightly below the midpoint of its comparable operating profit prediction for the entire year, which ranges from 2.3 billion to 2.9 billion euros.
Nokia’s founders set this goal for the company.
AT&T, the largest telecommunications company in the United States, made the decision to select Ericsson as the provider for the construction of a telecom network that is completely based on a technology known as ORAN at the end of the previous year.
A severe blow was handed to Nokia by this decision, as the company had previously been awarded a significant contract in the North American market.
Both the Finnish company and its Swedish competitor, Ericsson, have initiated strong cost-cutting initiatives in the midst of an industry-wide fight against a slowing economy and infrastructure expenditure cuts from mobile carriers. Ericsson is a Swedish company that competes with the Finnish company.
The revelation that Nokia will be cutting off as many as 14,000 employees came in October, following the company’s realization that it had experienced a major decline in profitability during the third quarter.
By the year 2026, the company intends to achieve a reduction in its gross expenses of between 800 million and 1.2 billion euros within the time frame.
The business made the announcement on Thursday that it had made “significant progress” on its entire cost reduction program and that it had implemented actions with the goal of cutting expenses by a total of 400 million euros up to this time.
SOURCE: CNBC
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Tech
Pavel Durov Arrested in Paris Over Allegations Of Facilitating Illicit Activity On Telegram
Pavel Durov, the enigmatic founder and CEO of the messaging app Telegram, has found himself at the center of a significant legal controversy.
Over the weekend, Durov was arrested in Paris under allegations that his platform is being used for various illicit activities, including drug trafficking and the distribution of child sexual abuse images.
His arrest has sparked widespread debate about the responsibilities of tech entrepreneurs and the challenges of content moderation in a world increasingly reliant on digital communication.
Background on Pavel Durov
Pavel Durov, born in Russia, is a multifaceted individual with a global footprint. He spent much of his childhood in Italy and holds citizenship in several countries, including France, Russia, St. Kitts and Nevis, and the United Arab Emirates.
Durov’s arrest occurred at Paris-Le Bourget Airport, where he was taken into custody on Saturday after arriving from Azerbaijan.
After four days of intense questioning, Durov was released on Wednesday upon paying 5 million euros in bail. He has been ordered to report to a police station twice a week as the investigation continues, according to the Paris prosecutor’s office.
Telegram: The Platform at the Center of Controversy
Telegram, launched in 2013 by Durov and his brother Nikolai, is a messaging app that has become a significant player in the digital communication landscape.
The app allows for a wide range of interactions, including one-on-one conversations, group chats, and large channels where users can broadcast messages to vast audiences.
Telegram’s group chats can accommodate up to 200,000 participants, a stark contrast to WhatsApp’s limit of 1,024.
A key feature of Telegram is its offering of end-to-end encryption, but this feature is not enabled by default and does not apply to group chats. This has led to concerns about the platform’s security and its potential use for spreading misinformation and facilitating illicit activities.
Experts like John Scott-Railton from the University of Toronto’s Citizenlab have pointed out that while Telegram’s “secret chat” feature is end-to-end encrypted, most interactions on the platform are not, leaving them potentially accessible to Telegram itself.
Telegram claims over 950 million active users worldwide, with significant usage in France, including among some government officials.
However, the app has also been identified by French investigators as a tool used by Islamic extremists and drug traffickers, adding to the scrutiny it faces.
The Charges Against Durov
Durov’s arrest has led to preliminary charges from French authorities. He is accused of complicity in managing an online platform that allegedly facilitates illicit transactions by an organized group.
This charge carries a potential prison sentence of up to 10 years and a fine of 500,000 euros. The allegations center around the use of Telegram for illegal activities, including the distribution of child sexual abuse material and drug trafficking.
Moreover, Durov is accused of refusing to cooperate with law enforcement by withholding information and documents when legally required.
Under French law, preliminary charges indicate that magistrates have substantial reasons to believe a crime has been committed, allowing for further investigation while the accused remains under legal constraints.
Responses to the Arrest
The arrest of Pavel Durov has elicited varied reactions globally. While there has been no immediate comment from Durov or Telegram regarding the charges, the situation has drawn significant attention in Russia.
Kremlin spokesman Dmitry Peskov stated that the details of Durov’s arrest remain unclear and urged caution in drawing conclusions until the charges are formally announced.
Interestingly, some Russian officials have expressed outrage at Durov’s detention, calling it politically motivated and a demonstration of the West’s double standards on freedom of speech.
This is particularly notable given that Russian authorities themselves attempted to block Telegram in 2018, a ban that was eventually lifted in 2020 after failed enforcement.
Elon Musk, the billionaire owner of X (formerly Twitter), also weighed in on the situation, voicing support for Durov and posting “#freePavel” on social media.
Telegram, in a statement following the arrest, emphasized that it abides by EU laws and that its content moderation practices are “within industry standards and constantly improving.”
Content Moderation on Telegram
Telegram’s approach to content moderation has long been a point of contention, particularly among Western governments.
Critics argue that Telegram’s lax policies and minimal enforcement make it a haven for illegal activities, ranging from money laundering and drug trafficking to the dissemination of child exploitation material.
Unlike other messaging platforms such as WhatsApp, which submitted over 1.3 million CyberTipline reports in 2023, Telegram has been described as “unresponsive” to law enforcement by experts like David Thiel from Stanford University.
Telegram’s non-compliance with certain national regulations has also led to legal actions in various countries.
In 2022, Germany fined Telegram over 5 million euros for failing to establish a lawful reporting mechanism for illegal content and failing to appoint a legal entity to handle official communications within the country.
Similarly, Brazil temporarily suspended Telegram for not cooperating in a police inquiry related to neo-Nazi activities.
Pavel Durov’s arrest has brought to light the ongoing challenges of regulating digital platforms in an era where online communication is both ubiquitous and, at times, perilous.
As the investigation into Durov and Telegram continues, the case raises critical questions about the balance between privacy, freedom of speech, and the responsibilities of tech companies in preventing the misuse of their platforms for criminal activities.
The outcome of this legal battle could have far-reaching implications for how digital platforms are governed in the future.
Tech
Introducing iPhone 16 Pro’s Gold Titanium Color just revealed before Apple Event
Apple usually offers one more color in addition to the subdued combination of metallic, black, and white hues in its ‘Pro’ iPhone line. In prior years, that was “Deep Purple” for the iPhone 15 Pro and “Blue Titanium” for its predecessor.
This has given rise to considerable conjecture about the soon-to-be iPhone 16 Pro’s colour. Up until recently, it was thought that Apple would introduce a rose gold hue, but as of now, everyone appears to agree that the corporation is really preparing to introduce a deeper shade of gold called “Desert Titanium.”
Leaks differ on how valuable they believe this to be. In a post on X, Majin Bu called this a “relatively discreet and deep” sort of “dark gold,” while an image from Sonny Dickson revealed a tone that was practically caramel.
Through an unidentified source, 9to5Mac has now tried to provide a conclusive response. The website notes that the leaker is the same individual who accurately leaked the precise shade of the Natural Grey iPhone 15 Pro ahead of time, however, no explanation of the leaker’s credentials is given. So, it’s probably trustworthy.
This is the color that the website is almost certain will be:
Though I myself like the deeper brown appearance (having loved a Microsoft Zune long after support ended), it seems lighter than Dickson’s picture and, by being a little more subdued, avoids the “beige” issue.
In fact, 9to5Mac points out that the colourway and the previously revealed Kim Kardashian Beats Studio Pro have some similarities. Naturally, Apple acquired Beats a little more than a decade ago.
The case cutout that is located above and to the left of the sleep/wake button in the picture above is the last item worth mentioning. That’s probably a space for the capture button, which is positioned on all four iPhone 16 versions to provide simple access to the camera for fast video recording.
The whole palette of 16 colors for the iPhone will be revealed shortly. Invites to Apple’s September 9 “Glowtime” event at its Cupertino headquarters have already been handed out. Rumour has it that new phones will be shown with the AirPods 4, Apple Watch Series 10, and maybe even the iPad Mini 7.
Regarding the iPhone 16 Pro, we anticipate somewhat bigger phones; the smaller model will carry over the 5x optical zoom from the supersize Pro Max edition from the previous year, along with a significant power increase from the A18 processor and a new emphasis on artificial intelligence via Apple Intelligence.
Source: Tomsguide
Tech
OpenAI’s ChatGPT Surges to 200 Million Weekly Users
OpenAI’s ChatGPT has reached a huge milestone, with more than 200 million weekly active users. This is a doubling of user involvement since the previous autumn, demonstrating the platform’s growing influence and appeal in the AI field.
ChatGPT, which was launched in 2022, has swiftly established itself as a critical tool for generating human-like responses to user queries, cementing its position as a conversational AI technology leader.
OpenAI’s ChatGPT-4o Mini: Affordable AI for a Larger Market
In response to rising demand, OpenAI has introduced GPT-4o Mini, a more affordable version of its AI model. This new model is intended to be less energy-intensive and more cost-effective, increasing the accessibility of AI technology.
The release of GPT-4o Mini in July resulted in a considerable increase in the use of OpenAI’s automated Application Programming Interface (API), demonstrating the company’s dedication to making advanced AI technologies accessible to a wider audience.
Fortune 500 adoption: 92% of major companies now use OpenAI products.
OpenAI’s reach extends beyond individual users, as 92% of Fortune 500 organisations now use its products into their operations. This widespread usage demonstrates the importance and applicability of OpenAI’s technology in improving business processes and generating innovation across a variety of industries.
Recent Deals with the US Government: OpenAI and Anthropic Collaborate on AI Safety.
OpenAI, along with AI firm Anthropic, has signed new agreements with the US government to conduct research, testing, and assessment on its AI models. These agreements, announced by the United States Artificial Intelligence Safety Institute, demonstrate the government’s commitment to ensuring the safe and successful deployment of artificial intelligence technologies.
Apple, Nvidia, and Microsoft are eyeing a $100 billion valuation for OpenAI.
The buzz surrounding OpenAI continues to grow, with stories indicating that tech titans Apple and Nvidia are in talks to invest in the business. This possible fundraising round, which could value OpenAI at more than $100 billion, demonstrates the company’s great interest and confidence in its future prospects.
Microsoft, a long-time supporter of OpenAI, is also likely to participate in this latest round of funding, further consolidating the company’s position in the AI business.
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