US Congressmen Demand ByteDance to Divest TikTok within 165 Days In the first six weeks of this year, iPhone sales in China fell by 24% year on year.

US Congressmen Demand ByteDance to Divest TikTok within 165 Days

Bipartisan US congressmen introduced a bill on Tuesday that would require ByteDance to divest its control over the short-video app TikTok or face a ban on app stores distributing it. The bipartisan bill would give ByteDance 165 days to divest TikTok to avoid the ban. TikTok responded, stating, "No matter how the proponents try to dress it up, this bill is a ban on TikTok in its entirety. This legislation would trample on the First Amendment rights of 170 million Americans and deprive 5 million small businesses of the platform they rely on for growth and job creation."

ByteDance to Launch New Round of Option Repurchases

According to a report from The Information, ByteDance is set to launch a new round of option repurchases. The repurchase price for current employees will be 170pershare,whilethepriceforformeremployeeswillbe145 per share. ByteDance has not yet responded to the report. The repurchase price is higher than the $160 per share offered in last year's repurchase plan, possibly reflecting changes in the stock market over the past six months, during which the Nasdaq index has risen by about 20%.

Jiangsu Changjiang Electronics Technology to Acquire Western Digital Subsidiary for Over $600 Million

Jiangsu Changjiang Electronics Technology announced that its wholly-owned subsidiary, Changjiang Management, intends to acquire an 80% stake in SanDisk Semiconductor for approximately $624 million in cash. The seller's parent company is Western Digital Corporation, a leading global storage manufacturer. SanDisk Semiconductor is primarily engaged in the packaging and testing of advanced flash memory storage products. Upon completion of the transaction, the target company will become a joint venture owned 80% by Jiangsu Changjiang Electronics Technology and 20% by Western Digital.

Samsung Electronics' Average Annual Salary per Employee Fell by 11.1% Last Year

A report released by the "Korean CXO Institute" showed that the average annual salary per employee at Samsung Electronics fell by 11.1% year-on-year in 2023, to approximately 1.2 billion Korean won (approximately RMB 648,000). Based on the total labor costs (including wages and pensions) of Samsung Electronics last year, the reverse calculation shows that the annual salary of its employees was between 14.38 trillion and 14.75 trillion Korean won. According to the semi-annual report last year, it is estimated that the total number of employees was between 120,700 and 121,900. Considering that incentive compensation has a significant impact on the annual salary structure of Samsung Electronics, the decrease in annual salary last year indicates that the company has reduced incentive compensation.

iPhone Sales in China Fell 24% Year-on-Year in the First Six Weeks of 2024

According to data released by Counterpoint, iPhone sales in China fell 24% year-on-year in the first six weeks of 2024 as the company faced increasing competition from domestic rivals such as Huawei. In terms of market share, Apple's share in China's smartphone market fell to 15.7%, ranking fourth. Analyst Ming-Chi Kuo stated that the previous market consensus for iPhone shipments in 2024 was 220-225 million units, but it has now started to be revised downwards towards 200 million units. This suggests that the annual shipment target for iPhones could be reduced by about 10%.

Apple Supports Third-Party App Installations in the EU

Apple has released the iOS 17.4 official update and made significant adjustments to its iPhone and App Store policies in the EU. These include support for "third-party app stores," allowing iPhone users to download apps from sources other than the Apple App Store and use third-party payment methods without being forced to use Apple Pay. Apple emphasizes that this feature is limited to the EU region and that the company will detect user locations. If a user is outside the EU region for an extended period, it may result in "existing app stores downloaded on the device ceasing to function."

Total Market Value of US Stock "Big Seven" Fell by $233 Billion in One Day

The total market value of the "Big Seven" stocks fell by 233billiononTuesday,draggingdowntheUSstockmarket.Onthatday,Apple′sstockpricefellbymorethan2.8375 billion drop on January 31st.

Jeff Bezos Surpasses Elon Musk to Become the World's Richest Person Again

According to the Bloomberg Billionaires Index, Amazon founder Jeff Bezos has once again become the world's richest person, surpassing Elon Musk for the first time since the fall of 2021. As of Monday, Bezos's net worth was 200billion.Musk′snetworthwas198 billion, while LVMH CEO Bernard Arnault's net worth was $197 billion. In recent years, Musk, Arnault, and Bezos have taken turns occupying the top spot on the list. The ranking is based on changes in the market, economy, and other reports to measure personal wealth.

Temasek in Talks to Invest in OpenAI

Singapore's Temasek Holdings is in negotiations to invest in OpenAI, a move that would mark the state-owned investment firm's first funding for the company behind ChatGPT. Two people familiar with the matter revealed that Temasek executives have met with OpenAI CEO Sam Altman several times in recent months.

ChatGPT Launches "Read Aloud" Feature

OpenAI has introduced a new feature called "Read Aloud" for its popular chatbot ChatGPT. This feature allows ChatGPT to read its responses in five different voices, aiming to provide a more convenient interactive experience for users. The "Read Aloud" feature supports 37 languages and can automatically detect the language of the text and read it aloud. It is worth noting that this feature is available for both GPT-4 and GPT-3.5 versions of ChatGPT.

Google Co-Founder Makes Rare Appearance at "AGI House" in California

Sergey Brin, the co-founder of tech giant Google, made a rare public appearance at the "AGI House" in California, stating that his comeback was due to the "exciting trajectory of AI development." He added, "It's amazing to see these AI models constantly being developed with new capabilities." Brin also commented on Google's large-scale image generation tool Gemini, saying, "We completely messed up on image generation, mainly due to inadequate testing. The intentions were good, but the results frustrated a lot of people."

Meta to Gradually End Authorized Sales Partner Program

A Meta spokesperson stated that the company plans to gradually end its Authorized Sales Partner program by July, shifting to a model where advertisers work directly with Meta. Authorized Sales Partners are an extension of Meta's sales team and have local presence in multiple countries. This move aims to align Meta's operating model across various markets globally.

Amazon Web Services Plans to Invest Over $5.3 Billion in Saudi Arabia

Amazon Web Services (AWS) plans to invest over $5.3 billion (approximately 19.88 billion Saudi Riyals) in Saudi Arabia and will launch an AWS infrastructure region in the country by 2026.

Cadence to Acquire BETA CAE Systems for $1.24 Billion

Cadence Design Systems has agreed to acquire BETA CAE Systems for $1.24 billion in cash and stock. BETA CAE Systems produces software for analyzing automotive and jet designs, with clients including Honda, General Motors, and Lockheed Martin. Cadence is one of the largest manufacturers of computer chip design software, helping chipmakers design complex integrated circuits. The transaction is expected to close in the second quarter of this year.

Lu Weibing Reveals Xiaomi's Market Share in France is About 20%

Lu Weibing, the general manager of the Xiaomi brand, revealed that he has arrived at Xiaomi's French office and held a business discussion meeting with the team. Lu stated that Xiaomi's market share in France is approximately 20%, and the company's future focus will be on enhancing the premiumization of its products. He also mentioned that the Xiaomi 14 Ultra has received a warm response in the French market, positioned to compete directly with high-end price segments above 1,500 euros from Apple and Samsung.

ZTE and vivo Sign Global Patent Cross-Licensing Agreement

ZTE announced the signing of a global patent cross-licensing agreement with vivo, marking the beginning of their strategic collaboration in the patent field. The previous day, Huawei and vivo also announced the signing of a similar global patent cross-licensing agreement. This agreement covers fundamental patents for cellular communication standards, including 5G.

Bilibili Establishes a New First-level Department: "Self-developed Game Publishing"

Bilibili has issued an internal announcement revealing the establishment of a new first-level department known as "Self-developed Game Publishing," led by Chen Tongpeng, who will report directly to the company's CEO Chen Rui. The former Self-developed Game Operation Department I, Guangzhou Branch, and Beijing Branch of the Game Publishing Center will be integrated into this newly established department, reporting to Chen Tongpeng. Chen Tongpeng boasts extensive experience in the operation and publishing of anime-style games. She recently joined Bilibili after previously working at Tencent and miHoYo.

MiniMax, a Startup in Large Model Technology, Valued at Over $2.5 Billion

MiniMax, a startup specializing in large models, has been valued at over $2.5 billion. The company is currently undergoing a new round of large-scale financing, with Alibaba as the lead investor. MiniMax has completed three rounds of funding prior to this, with investors including Tencent and miHoYo.

AI Bubble Allegedly Larger Than the Tech Bubble of the 1990s

The soaring stock price of Nvidia has propelled the U.S. stock market to new highs, leading some on Wall Street to question whether a bubble is emerging. Since October 14, 2022, Nvidia's share price has increased by more than sevenfold, and its current market value exceeds 2trillion,makingitthethirdmostvaluablecompanyintheU.S.Nvidiatookonly180tradingdaystodoubleitsmarketvaluefrom1 trillion to $2 trillion, a feat that took Apple and Microsoft over 500 trading days. Apollo's Chief Economist Torsten Slok bluntly stated that the current AI bubble is even larger than the tech bubble of the 1990s.

Global Smart Wearable Device Shipments Declined by 3% Year-on-Year in Q4 2023

According to a report released by market analysis firm Canalys, global shipments of smart wearable devices reached 48.5 million units in the fourth quarter of 2023, a year-on-year decrease of 3%. This decline was primarily attributed to high inflation and weak demand in North America and Western Europe. Despite a continuous drop in shipments for four consecutive quarters, Apple still maintains the top spot with a 21% market share. Xiaomi ranks second with an 11% market share and a 45% year-on-year growth. Huawei's new Watch GT4 drove wearable device shipments, achieving a 31% year-on-year growth in the fourth quarter, ranking third. Google returned to fourth place with a 7% market share. Fire Boltt experienced a 52% growth, securing fifth place with a 6% market share.

Source: Global TMT