Samsung is firing 1,000 employees in India as cheaper Chinese smartphones squeeze profits
Samsung is in the process of firing 1,000 employees from its India operation as a part of its ‘cost rationalisation programme.’ 150 have already been let go so far and the entire process is expected to be completed by October this year.
The price competition from Chinese players like Xiaomi and OnePlus dethroned Samsung’s dominance in the country and has an impact on its profit margins, which is why the aim to of the cost rationalisation programme is to increase the profitability of Samsung’s operations.
Apple goes the way of ‘quality over quantity’ in a bid to outdo Netflix
Eddy Cue, the company’s senior vice president, stated that while Apple might be making as many shows as Netflix, it is aiming to create the best shows in the market. The strategy may or may not be successful but may solve the ‘paradox of choice’ for a few users.
Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club
Ola Electric, a subsidiary of the ride sharing app Ola, just raised $250 million from Softbank to the enter the unicorn club. Previously, Ola Electric has been funded by Rata Tata and former Vodafone Group CEO, Arun Sarin.
Ola Electric is also helping Ola partner with equipment manufacturers and battery manufacturers while also looking for electric vehicle solutions in the automotive industry.
TikTok has refuted Shashi Tharoor's claim that the app with 200 million Indian users is sharing data with China
Shashi Tharoor claimed that TikTok was siphoning off the data of India users and giving it to the Chinese government during Zero Hour in Lok Sabha on Monday. The short video sharing mobile app is refuting those claims as untrue and asserts that it is abiding by all local laws and regulations in India.
The Bytedance-owned enterprise also stated that it doesn't operate in the People's Republic of China and these Chinese government has no access to any of the TikTok users data.
