Samsung to make bigger funding in Artificial Intelligence, 5G to propel …

On Wednesday, Samsung Electronics Co stated it’ll propel era improvements to tackle the negative enterprise environment and foster new increase drivers along with artificial intelligence (AI) and 5G. Samsung vowed to step up its improvements to conquer commercial enterprise challenges amid falling fees of reminiscence chips and flattening worldwide demand for brand new smartphones. “The organization plans to push for profound innovations throughout the divisions because the unfavorable commercial enterprise surroundings are anticipated to retain this yr,” Kim Ki-Nam, vice president of Samsung Electronics, said at an assembly at the employer headquarters attended by way of about 1,000 buyers.  To get beforehand inside the fast-converting tech enterprise, Samsung stated it would amplify funding in burgeoning tech segments to propel


growth. “We will take cognizance on new, promising agencies, along with AI and 5G, to convey significant adjustments and could actively reply to new enterprise possibilities,” Kim said. Announcing enterprise plans all through the shareholder’s assembly, the first given that a 50:1 inventory split in May which changed into geared toward making it easier for retail investors to buy stakes inside the company, Kim stated: “We will retain to launch revolutionary products in our domestic equipment and IT and cellular verbal exchange divisions to increase our market-main function.”

The world’s largest handset and memory chip maker stated it posted $215.Eight billion in sales and $52 billion in running earnings ultimate year on a consolidated foundation, posting record-high profits driven by way of the growth in memory chips, Yonhap information employer suggested. Its bid to propel its 5G commercial enterprise comes as Huawei, the world’s biggest telecom equipment maker, faces growing strain from the United States over safety troubles. The Korean tech company presently has a mere three in keeping with cent share within the 5G gadget area, lagging far behind Huawei’s 28 in line with the cent and Ericsson’s 27 percent, consistent with market researcher IHS Markit.  The agency has set a goal of taking pictures a 20 in line with cent share in the 5G gadget marketplace via 2022.

Now it’s the turn of Xiaomi India to get into the virtual payments space. Having mounted itself as the top mobile smartphone seller inside the country, Xiaomi has now released Mi-Pay. This will compete at once with incumbents, which include Paytm and Google Pay. The Mi Pay app will be on Xiaomi gadgets that run on the Android-based totally MIUI. Xiaomi India has informed that this Mi Pay app is seamlessly integrated across SMS, contacts, scanner, app vault, and settings in the MIUI surroundings their gadgets operate in. Xiaomi has tied up with ICICI Bank for the price service issuer’s position even as the NPCI monitored Unified Payments of India (UPI) could be the digital wallet interface. Xiaomi says it has acquired the approvals from the National Payments Corporation of India. Giving out the numbers, the corporation says human beings protecting accounts in a hundred and twenty banks can do transactions using Mi-Pay, and they have enabled bills to utilities like electricity bills, water tax, etc.

There are over 100 billers whose bills might be settled through Mi-Pay. Interestingly, Xiaomi confirms that it has made arrangements for all the information referring to the transactions thru Mi Pay in India to be saved in servers inside u . S. This has been a first-rate bone of rivalry with the authorities status company on this requirement. Plenty of players like Amazon Pay and WhatsApp Pay have needed to put off their digital wallets initiatives in India to comply with this stipulation. “We have introduced our innovative Mi Pay provider for our customers in India. This is the ultimate answer to an expansion of patron charge needs, and therefore empowers tens of millions of Xiaomi users with getting right of entry to digital bills,” said Muralikrishnan B, Chief Operating Officer, Xiaomi India. Xiaomi has additionally assured that the records will be saved in encrypted form and will be relaxed.

On Tuesday, singapore-based merchant platform company Pine Labs introduced it has acquired Bengaluru-primarily based gift card answers provider Qwikcilver for $a hundred and ten million. The mixed present answers commercial enterprise can be the most important in India with a patron base of over 250 brands and retailers and 1,500 enterprise customers, the agency said in a statement. “According to marketplace estimates, gift, as a category, is growing at a high double-digit fee yearly. Quiksilver’s technology and market expertise will assist us in scaling up this business,” stated Vicky Bindra, Chief Executive Officer, Pine Labs. Pine Lab’s tactics annualized bills of $20 billion. Founded in 2006, Qwikcilver is a full-stack gift card carrier provider, powering 9 out of every 10 gift cards within u. S. And managing an annualized gross transaction value of $1.5 billion across India, Middle East, and South East Asia. “With Pine Labs, we have the capability and capability to seriously scale the present card category and drive patron adoption with novel products and answers,” delivered Kumar Sudarsan, Co-Founder and CEO of Qwikcilver. Pine Labs started its very own present solutions business, “Pine Perks,” 4 years ago. Today, Pine Perks present six hundred corporations that use playing cards throughout banking, coverage, production, pharmaceutical, FMCG, and telecom industries. Kumar will be a part of the Pine Labs leadership group after the finishing touch of the transaction. Pine Labs’ buyers consist of Sequoia India, PayPal, Temasek, Actis Capital, Altimeter Capital, Madison India Capital, and Sofia.

Food discovery and shipping platform Zomato has introduced ‘Zomato Safely Sealed,’ which it claims are one hundred% tamper-proof packaging to feature an additional layer of protection to food deliveries. Once the food is sealed through the restaurant, the packet can simplest be opened by reducing the top-cease strip, Zomato said in an assertion.  Zomato Safely Sealed is available in two versions to suit specifically sized packing containers. The protection seals are made from a single cloth polymer with 50 microns thickness and are completely reusable/recyclable. Zomato said that it would quickly release the biodegradable versions of the packaging as nicely. This tamper-evidence packaging may be implemented throughout 10 towns (Delhi NCR, Mumbai, Bengaluru, Hyderabad, Kolkata, Pune, Jaipur, Chandigarh, Nagpur, and Vadodara) in India. It will be step by step delivered across all of the hundred and eighty+ cities wherein Zomato’s online ordering and food delivery offerings are present. Zomato has suggested that customers no longer be given the transport if the protective seal is open; however, they also spotlight it via their more than one communication channel. “Our dedication to ensuring secure and hygienic food achieving our users involves our contribution at every feasible step — from providing components through Hyper pure to protection audits via Food Hygiene Ratings. Zomato Safely Sealed is our state-of-the-art try at adding an extra layer of safety, making sure our users acquire meals as properly because it became while it became prepared in the kitchen. We ran a pilot for this initiative among 40 eating places in Gurugram and received an overwhelming response from both taking part eating places and users,” Mohit Gupta, CEO, Food Delivery, Zomato, stated. Over five 000 eating place, companions are currently sealing their food through the packaging, which is about 25% of Zomato’s order volume in the 10 towns. It has already deployed over 3 million packets to date and objectives to reinforce its supply to 3X using April because it introduces this packaging throughout 25 greater towns in India.  Zomato will even characteristic a ‘100% SAFELY SEALED’ badge on the app for all eating places that signal-up to apply the packaging, in addition to teaching customers the decision-making technique when ordering meals online.

Zomato says that tamper-evidence packaging also witnessed brilliant participation from the eating place community who welcomed this circulate, helping them offer higher services to their customers. After Zomato was recently criticized after a video of its transport executive consuming out of a person’s video went viral. Apart from that, the meals-tech giant has been delisting thousands of restaurants that don’t meet the required hygiene requirements. They also are actively operating toward enhancing hygiene choice and today offer hygiene rankings for over 10,000 restaurants.

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