Tag Archives: ITE

PR Newswire

G Suite Legacy free edition is not available from 7/1/22: TS Cloud offers a free service to help businesses upgrade

Leave a comment

KUALA LUMPUR, Malaysia, Jan. 28, 2022 — After more than 10 years of providing services to businesses, Google has announced that it will discontinue the G Suite legacy service starting July 1, 2022. G Suite Legacy is a productivity suite offered by Google Apps for Your Domain since 2006. The product has gone through several milestones, reintegrated with other Google products in 2020, and made its grand debut under Google Workspace by offering different editions with advanced features to meet the needs of businesses across various industries.

G Suite Legacy free edition is not available from 7/1/22
G Suite Legacy free edition is not available from 7/1/22

All accounts will be automatically upgraded starting from 5/1/22

On January 20, 2021, G Suite Legacy users received an announcement from Google saying the free edition will be automatically switched to Google Workspace starting May 1, 2022. If the users do not set up their billing by July 1, 2022, the account will be suspended. For more details, see required actions for G Suite Legacy users starting July 1, 2022.

TS Cloud helps organisations evaluate the upgraded edition and provides technical support

TS Cloud, the local reseller of Google Workspace, said that Google Workspace has more editions to choose from compared to G Suite in terms of storage and features. If users have any doubt about choosing the Google Workspace edition, they can contact the authorised reseller. In addition to working out a consultation for the G Suite Legacy upgrades, TS Cloud also ensures the upgrade service from the free edition has no service interruptions for companies during the transition period. If the company decides to stop using it thereafter, the data can be exported via the tools provided by Google.

TS Cloud offers a special discount if users upgrade before service is terminated

Google is offering deals to users who are ready to switch to Google Workspace. If users purchase through TS Cloud (Google Premier Partner), they will receive upgrade assistance and an additional discount based on the number of user licences. The specialists at TS Cloud will consult users to better understand their needs and provide post-deployment technical support for Google Workspace. G Suite legacy users will need to make the decision that is best for their business before the service is discontinued on July 1, 2022. Please schedule a consultation to upgrade to Google Workspace or contact TS Cloud at 1800-18-3155.

Reference: https://tscloud.com.my/gsuite/archives/22027

Contact:

Pankco Lai
+60-4371-7817

PR Newswire

CCTV+: Xi visits north China’s Shanxi ahead of Chinese New Year

Leave a comment

BEIJING, Jan. 27, 2022 — Chinese President Xi Jinping on Wednesday began his visit to north China’s Shanxi Province to learn about people’s livelihood ahead of the Spring Festival, or the Chinese New Year.

 

In two villages in Linfen City, Xi, also the general secretary of the Communist Party of China Central Committee, visited villagers’ homes and inspected the post-disaster reconstruction in areas affected by last year’s floods as well as local work in restoring farming, ensuring the public’s access to heating in winter, consolidating and expanding anti-poverty achievements and advancing rural vitalization.

For 10 years in a row, Xi has made it a tradition to visit people at the grass-roots level, especially the disadvantaged groups, ahead of the Spring Festival, the most important holiday on the Chinese lunar calendar and an occasion of family reunions.

The Spring Festival falls on Feb 1 this year.

Link: https://youtu.be/IhgaxxRcvWg

PR Newswire

Ericsson reports fourth quarter and full-year results 2021

Leave a comment

STOCKHOLM, Jan. 25, 2022 —

Fourth quarter highlights           

  • Group organic sales grew by 2% YoY. Sales in Mainland China declined by SEK -1.8 b. (-3 percentage points), meaning that excluding Mainland China organic sales growth was 5%. Reported sales were SEK 71.3 (69.6) b.            
  • Gross margin improved in all segments to 43.5% (40.6%) excluding restructuring charges. Reported gross margin was 43.2% (40.6%).           
  • EBIT excluding restructuring charges improved to SEK 12.3 b. (17.3% EBIT margin) from SEK 11.0 b. (15.8% EBIT margin) YoY. Reported EBIT was SEK 11.9 (11.0) b.           
  • Networks organic sales increased by 3%, despite significant market share loss in Mainland China. EBIT margin excluding restructuring charges was 23.6% (21.5%).            
  • Digital Services organic sales were flat and EBIT excluding restructuring charges was SEK 0.4 (0.5) b.           
  • Reported net income was SEK 10.1 (7.2) b. EPS diluted was SEK 3.02 (2.26).             

Full-year highlights           

  • Group organic sales grew by 4%, with an increase in Networks sales of 7%. Reported sales were stable at SEK 232.3 b. The loss of market share in Mainland China impacted sales by SEK -7.7 b. and the growth rate by -3 percentage points, meaning that excluding Mainland China, organic sales growth was 8%.           
  • Gross margin excl. restructuring charges was 43.5% (40.6%), driven primarily by strengthened operational leverage in Networks.           
  • EBIT margin excluding restructuring charges improved to 13.9% (12.5%), reaching the 2022 group target already in 2021.           
  • Reported net income was SEK 23.0 (17.6) b. EPS diluted was SEK 6.81 (5.26).           
  • Free cash flow before M&A amounted to SEK 32.1 (22.3) b. Net cash was SEK 65.8 (41.9) b. on December 31, 2021.           
  • The Board of Directors will propose a dividend for 2021 of SEK 2.50 (2.00) per share to the AGM.

SEK b.

Q4
2021

Q4
2020

YoY
change

Q3
2021

QoQ
change

Jan-Dec
2021

Jan-Dec
2020

YoY

change

Net sales

71.3

69.6

3%

56.3

27%

232.3

232.4

0%

     Sales growth adj. for comparable units and currency [1] 

–

–

2%

–

–

–

–

4%

Gross margin [1] 

43.2%

40.6%

–

44.0%

–

43.4%

40.3%

–

EBIT 

11.9

11.0

8%

8.8

34%

31.8

27.8

14%

EBIT margin [1] 

16.6%

15.8%

–

15.7%

–

13.7%

12.0%

–

Net income 

10.1

7.2

41%

5.8

76%

23.0

17.6

30%

EPS diluted, SEK 

3.02

2.26

34%

1.73

75%

6.81

5.26

29%

Measures excl. restructuring charges [1]

Gross margin excluding restructuring charges 

43.5%

40.6%

–

44.0%

–

43.5%

40.6%

–

EBIT excluding restructuring charges 

12.3

11.0

12%

8.8

39%

32.3

29.1

11%

EBIT margin excluding restructuring charges 

17.3%

15.8%

–

15.7%

–

13.9%

12.5%

–

Free cash flow before M&A 

13.5

12.8

6%

13.0

4%

32.1

22.3

44%

Net cash, end of period 

65.8

41.9

57%

55.7

18%

65.8

41.9

57%

[1] Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statements

Comments from Börje Ekholm, President and CEO of Ericsson (NASDAQ:ERIC)

Our strategy to invest in technology leadership and grow market share in our core business underpinned a robust financial performance in 2021 and ensured a good Q4 for Ericsson overall. Our commitment to pursue value from growth in wireless enterprise took a significant step forward with the announcement of our ambition to acquire Vonage, which will give us the foundation to develop a Global Network Platform to drive innovation on top of the 5G networks. This adds to already strong progress in 2021 in our organic enterprise portfolio – Dedicated Networks and IoT – and follows the successful integration of Cradlepoint. With a full-year EBIT margin[2] of 13.9%, we reached our 2022 target one year early, while absorbing significantly increased investments in R&D, Enterprise, cybersecurity and compliance. Fourth quarter organic sales[1] grew by 2%, gross margin[2] improved to 43.5% (40.6%), the EBIT margin[2] reached 17.3% (15.8%) and free cash flow before M&A amounted to SEK 13.5 (12.8) b.

Networks sales[1] grew organically by 3% in Q4, despite considerably lower volumes in Mainland China. Gross margin[2] improved to 46.4% (43.5%). The 2021 financial performance and continued market share gains outside of Mainland China are underpinned by our investments in technology leadership. We have so far been able to mitigate the inflationary pressure by continuously evolving our product portfolio. We strengthened our industry-leading portfolio during the year with ultra-light, energy-efficient Massive MIMO radios for enhanced network performance and our new Cloud RAN portfolio for 5G mid band.

In Q4, Digital Services organic sales[1] were stable YoY. Excluding sales in Mainland China, where we had considerably lower volumes, sales[1] increased by 3% YoY in the fourth quarter. Fourth quarter gross margin[2] improved to 43.4% (41.0%) with a positive EBIT[2] of SEK 0.4 b. During 2021 we continued to invest in R&D, particularly for the cloud native offerings and our portfolio is now substantially transformed compared with a few years ago. We will continue to increase investments in our 5G portfolio, including in our orchestration offerings, to further strengthen our long-term competitiveness and position us in an open world for future standards and technologies. We expect profitability to gradually improve and over time exceed our original EBIT margin[2] target of 10–12%.

Managed Services delivered a gross margin[2] of 18.9% (17.7%) in Q4. For the full year of 2021 organic sales[1] declined by -6% as new deals did not offset lower customer demand, contract rescoping and planned exits. To grow profits, we will accelerate the ongoing transformation towards a more software-driven offering with higher margin potential.

Emerging Business and Other delivered an improved gross margin[2] of 35.2% (33.8%) in Q4. For full-year 2021, gross margin[2] improved to 37.3% (28.0%), where Cradlepoint’s performance is the main contributor. We are seeing increasing momentum for our 5G portfolio in Dedicated Networks and Cradlepoint.

IPR revenues amounted to SEK 2.4 (2.6) b., including a new smaller agreement with retroactive impact. With our strong position in 5G and leading, broad patent portfolio we believe we are well positioned to conclude pending and future patent license renewals. Ericsson’s IPR licensing revenues continue to be affected by several expiring patent license agreements pending renewal and 5G license negotiations. This will lead to estimated revenues from IPR licensing of SEK 1.0–1.5 b. in Q1, unless renewals are signed in the first quarter. The actual financial impact will depend on the timing as well as terms and conditions of new agreements.

In October, we received correspondence from the Department of Justice that we had breached our obligations under the Deferred Prosecution Agreement by failing to provide certain documents and factual information. At this point in time, we cannot provide further information or predict the outcome. We continue to invest in improving our Ethics and Compliance program in accordance with our strategy and objectives. We are firmly committed to continuously develop and improve in the years to come to ensure a sustainable compliance program.

Free cash flow before M&A was SEK 32.1 (22.3) b. for full-year 2021, the highest in Ericsson’s history, further strengthening the net cash position to SEK 65.8 (41.9) b. During the last few years, our strategy has been to increase the flexibility of our business and reduce the capital tied up in the business. Consequently, we are now able to operate the Company with less capital than in the past. The Board will propose a dividend of SEK 2.50 (2.00) per share to the AGM, underlining the confidence in Ericsson’s business going forward.

Based on current business momentum, we expect fundamentals to remain strong in our core mobile infrastructure business during 2022. We will continue to increase investments in R&D to sustain our technology leadership and strengthen our competitive position to take advantage of the rollout of 5G networks. At the same time, we will continue our efforts to expand our presence in the enterprise market. Over time, we expect the enterprise segment to provide higher growth and profitability than our mobile infrastructure business. The Group EBIT target[2] for 2022 of 12-14% remains, excluding the Vonage-related segment. With the different business mix compared to when we set the 2022 target back in 2018, the target becomes less relevant, and our key focus is therefore now to accelerate the pace towards reaching our long-term target of EBITA margin[2] of 15-18%. After delivering an EBITA margin[2] of 14.6% in 2021, our ambition is to reach the long-term target no later than in 2-3 years. At that time, we will have a higher growth profile as a company.

2021 was a successful year for Ericsson and I want to take this opportunity to thank all my colleagues who relentlessly delivered on customer commitments while navigating through supply chain challenges and a raging pandemic. I am proud to be part of this team!

Stay healthy and well.

Börje Ekholm

President and CEO

[1] Sales adjusted for comparable units and currency

[2] Excluding restructuring charges

NOTES TO EDITORS

You find the complete report with tables in the attached PDF or by following this link https://www.ericsson.com/assets/local/investors/documents/financial-reports-and-filings/interim-reports-archive/2021/12month21-en.pdf or on www.ericsson.com/investors

Video webcast for analysts, investors and journalists

President and CEO Börje Ekholm and CFO Carl Mellander will comment on the report and take questions at a live video webcast at 9:00 AM CET (8:00 AM GMT London, 3:00 AM EST New York).

To join the webcast, please go to www.ericsson.com/investors

To ask a question, please call:

Sweden: +46 (0)8 566 426 51 (Toll-free Sweden: 0200 883 685)

International/UK: +44 (0)333 300 0804 (Toll-free UK: 0800 358 9473)

US: +1 631 913 1422 (Toll-free US: +1 855 85 70686)

PIN code: 67215644#

Please call in at least 15 minutes before the webcast starts.

The webcast will be available on-demand after the event and can be viewed at www.ericsson.com/investors.

FOR FURTHER INFORMATION, PLEASE CONTACT

Contact person

Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
E-mail: peter.nyquist@ericsson.com

Additional contacts

Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 730 95 65 39
E-mail: media.relations@ericsson.com

Investors

Lena Häggblom, Director, Investor Relations
Phone:  +46 72 593 27 78
E-mail:  lena.haggblom@ericsson.com

Stefan Jelvin, Director, Investor Relations
Phone: +46 709 86 02 27
E-mail: stefan.jelvin@ericsson.com

Media

Kristoffer Edshage, Director Corporate Media
Phone: +46 722 20 44 46
E-mail: media.relations@ericsson.com

Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on January 25, 2022.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ericsson/r/ericsson-reports-fourth-quarter-and-full-year-results-2021,c3491742

The following files are available for download:

https://mb.cision.com/Main/15448/3491742/1524646.pdf

Ericsson fourth quarter and full year report 2021

 

PR Newswire

Yuan Yuan’s Journey to Chinese Mainland Episode I – Beautiful Countryside

Leave a comment

BEIJING, Jan. 24, 2022 — A new report by China.org.cn on China’s countryside:

Hello everyone, my name is Yuan Yuan. I was born and grown up in Taiwan. My family has been telling me since I was a child, that I am Chinese. China is a big country. Taiwan region is separated from a relative called "Chinese mainland" by the sea.

 

What is the other side of the strait like? If you want to know, come with me on a trip to Chinese mainland!

Many people have the impression that Chinese mainland is poor and backward. But when I came to Chinese mainland, I was greeted by the wide and bustling streets of the city, the tall buildings lined up, the roads lined with traffic and the intertwined neon lights. People dress fashionably and avant-garde, happiness and confidence are on their faces.

Walking into the China’s countryside, you no longer see dirty streets and dilapidated village houses. After eight years of targeted poverty alleviation and five years of the battle against poverty, China has achieved a major victory in building a moderately prosperous society in all respects which impress the world.More than 9.6 million people have been completed poverty alleviation relocation, 832 designated poor counties got rid of poverty, nearly 100 million poor people have been lifted out of poverty. This is worthy of praise!

Nowadays, when you walk through the fields of China’s countryside, you can see the staggered delicate buildings, clean and tidy roads, and an endless sea of smoke connected to the blue sky. The "beautiful countryside" is in front of you.

China is not stopping there. Eliminating absolute poverty is the first step, the revitalization of the rural area is on the timetable. There is a Chinese jingle that if you want get rich, build a road first.

In China’s countryside, where villages are connected to large roads, trucks go straight to the village, transporting agricultural products out, bringing consumer goods in, making villagers richer, their lives better, and their faces always smiling.

What is life like for Compatriots in Chinese mainland now? Stay tuned for our next episode.I’ll tell you more!

Yuan Yuan’s Journey to Chinese Mainland Episode I – Beautiful Countryside

http://news.china.com.cn/txt/2022-01/21/content_78002884.htm

PR Newswire

Azentio Software announces Aliza Knox as new Board Member

Leave a comment

SINGAPORE, Jan. 24, 2022 — Azentio Software ("Azentio"), a global information technology company, is pleased to announce the appointment of Aliza Knox as a Non-Executive Director to the Board.

Azentio Software announces Aliza Knox as new Board Member
Azentio Software announces Aliza Knox as new Board Member

Aliza brings to Azentio a wealth of knowledge and expertise with over three decades of broad international marketing and management experience. She is most recognized for building and operating successful businesses in complex and emerging sectors including financial services, consulting, mobile, SaaS, while covering markets across Asia, Latin America, and Europe.

Aliza has held several leadership roles in relationship development, sales and operations, as well as strategic partnering. Most recently, Aliza was Head of APAC for Cloudflare and previously was Chief Operating Officer at Unlockd. In an earlier role, she held the position of Head of APAC for Twitter, having joined the digital enterprise after Google, where she was Managing Director of Online Sales & Operations in APAC. Aliza has extensive financial services experience at eminent companies like Visa International and Charles Schwab Corporation. She was the Vice President and Director – Asian Financial Services at Boston Consulting Group.

Aliza has served on the boards of listed companies in Australia, Singapore, Germany and UK. She was an advisor to the ANZ Bank Board Technology Committee. As a Non-Executive Board Director and advisor, she is dedicated to empowering the next generation of leaders, to build successful global businesses. As one way to do this, she has written the forthcoming book ‘Don’t Quit Your Day Job’ (Wiley; April 2022). 

Commenting on Aliza’s appointment, Tony Kinnear, Chief Executive Officer, Azentio Software, said, "We welcome Aliza to our Board. Her extensive operational experience as a senior executive in marquee global firms and her knowledge and insights in customer-driven technology businesses will add depth to the Board’s competencies as we continue to execute on our ambitious growth plans and drive value for our clients."

"I am honoured to be joining Azentio at such a challenging and exciting time," stated Aliza Knox. "As someone who is passionate about technology, I am confident and excited about the direction that Azentio is taking. I look forward to working with the Board and the talented leadership team on accelerating our core business initiatives and shaping a robust, sustainable growth path for Azentio," she said.

About Azentio Software Private Ltd

Azentio Software provides mission critical, core and vertical-specific software products for clients in banking, financial and insurance services primarily across the Middle East and Africa, Asia Pacific, and India. The company’s flagship products include Premia Astra™ and Beyontec Suite (Core Insurance Software), Kastle™ (Universal Banking Solution), iMAL™ (Islamic Core Banking Platform), AMLOCK™ (Financial Crime Detection and Management Solution), MFund Plus™ (Wealth & Asset Management Solution) and Orion™ (Enterprise Resource Planning Solution). More details can be found here azentio.com/

Media Contact:
Danielle Karam
danielle.karam@azentio.com

 

PR Newswire

BEYOND EXPO LAUNCHES BEYOND METAEXPO, AN IMMERSIVE SPACE FOR ITS OFFLINE EXPO IN 2022

Leave a comment

MACAU, Jan. 21, 2022 — On January 11, 2022, BEYOND Expo announced the launch of its BEYOND Metaexpo, hosted by TechNode, which combines a metaverse space and an offline expo to create a seamless experience for everyone. The press conference was held virtually at the press conference room of the BEYOND Metaexpo. Both BEYOND co-founders, Jason Ho and Gang Lu, announced the launch of BEYOND Metaexpo in their avatars to an audience of approximately 1000 tech professionals and more than 100 media representatives.

The press conference was held virtually at the BEYOND Metaexpo.
The press conference was held virtually at the BEYOND Metaexpo.

The press conference was a sneak peek of the BEYOND Metaexpo. The space will be further developed to accommodate the upcoming BEYOND Metaexpo, which will take place on September 21- 24, 2022, both online and offline in Macau. During the conference, the participants got to experience the interactive features of BEYOND Metaexpo first-hand.

"BEYOND Metaexpo will provide a virtual space for companies to participate and interact with attendees from all around the world with its infinite possibilities," said Gang Lu, BEYOND co-founder, during the conference.

The official BEYOND Metaexpo that will be launched in September 2022, is an infinite extension of our BEYOND Virtual. With the new virtual features, exhibitors can set up their booths on-site in Macau and online in the Metaexpo. The virtual booth allows exhibitors to showcase their companies’ futuristic visions and latest technologies in innovative ways. It will also connect exhibitors with partners, buyers, and attendees from all around the world.

On the other hand, our BEYOND Virtual online forums and the BEYOND on-site forums in Macau will be simulcasted at various Metaexpo virtual sites, creating a seamless connection and interaction between our speakers and audiences, on-site and online, in an interconnected space.

"We believe that, with technology, we will transcend boundaries between virtual and reality and create more business opportunities for everyone. Participants who cannot attend due to the pandemic or other reasons can also experience the immersive space at the exhibition and interact with on-site participants in real-time," said Gang Lu.

BEYONDBEYOND 2022: IS HERE, Will launch three brand new sub-brands:
BEYONDBEYOND 2022: IS HERE, Will launch three brand new sub-brands:

Last year, with great support from all parties, BEYOND proved its unlimited potential. This year, BEYOND 2022 will launch three brand new sub-brands: BEYOND Healthcare, BEYOND Sustainability, and BEYOND ConsumerTech, to focus on the life sciences industry, sustainable development, and consumer tech.

BEYOND’s metaverse space is built by the 3D creation platform called Box.Game, a coding platform to help establish a 3D virtual world where young users can create, play, and socialize.

Want to check out the immersive space at the BEYOND Metaexpo? Scan the QR code below to sign up now.

PR Newswire

Zendure Welcomes Jim Haflinger as Chief Technical Advisor

Leave a comment

An engineering expert with decades of experience at major companies including Kodak and Nortek, Jim Haflinger will advise the product research and development team on the company’s expansion into sustainable energy.

PALO ALTO, Calif., Jan. 21, 2022 — Zendure USA Inc. today announced that it has hired Jim Haflinger to the role of Chief Technical Advisor. As the Silicon Valley portable charger company expands into the sustainable energy sector, Haflinger will lend his decades of electrical engineering experience to Zendure‘s research and development team.

Prior to joining Zendure, Jim Haflinger was a Senior Principal Engineer at Nortek, where for 11 years he designed many products for home automation, security, personal safety, and solar backup power. He served Kodak for over six years as a Lead Electrical Engineer for the company’s printer division, designing printheads and multi-protocol interfaces. The role had him coordinating product design and manufacturing in Europe, Asia, and the United States. He was also the engineering representative for the Customer Experience team to make the products more user friendly and easier to install and use.

Prior to joining Zendure, Jim Haflinger was a Senior Principal Engineer at Nortek, where for 11 years he designed many products for home automation, security, personal safety, and solar backup power.
Prior to joining Zendure, Jim Haflinger was a Senior Principal Engineer at Nortek, where for 11 years he designed many products for home automation, security, personal safety, and solar backup power.

In total, Jim Haflinger has over 30 years of experience designing a wide variety of products, including SCSI interfaces and diagnostic equipment, data management tools, and switching power supplies for medical applications.

Haflinger holds a B.S. in Electrical Engineering and Computer Science from Santa Clara University and owns over a dozen patents on a variety of technologies. He is a member of IEEE (The Institute of Electrical and Electronics Engineers) and the Electric Auto Association and is the author of the 2nd edition of "Making SCSI Work".

Recently, the company raised over $1.3 million in crowdfunding for their new SuperBase Pro power station. This year at CES, Zendure set up a high-tech camping experience for visitors and debuted even more energy storage solutions and solar power generators and has plans to further expand into sustainable energy and home power management.

With Jim Haflinger’s product development and engineering expertise, the company hopes to come up with innovative solutions to bolster and accelerate the green energy revolution, including next-gen solar power and energy storage products.

"We are elated to have Jim advising our team, and the timing couldn’t be better," said Zendure CEO and founder Bryan Liu. "With his immense experience in all things electric, Jim will help us lead the global charge toward a sustainable future."

Zendure is a sustainable energy company located in Silicon Valley in the United States and the Guangdong – Hong Kong – Macao Greater Bay Area in China. Since its establishment, Zendure has continuously launched innovative products, made rapid breakthroughs in the core technologies of energy storage and power supplies, and continues to bring pleasant surprises to the user experience. The company recently received a multi-million dollar series-A round of funding from a joint investment from Shanghai GP Capital and YOTRIO group.

Contacts:
Company name: Zendure
Media: Tom Haflinger 
pr@zendure.com
Phone: +1 800 219 0960 

PR Newswire

SK Telecom, SK Square and SK hynix Launch ‘SK ICT Alliance’ for Synergies

Leave a comment

LAS VEGAS, Jan. 9, 2022 — At CES 2022, SK Telecom, SK Square and SK hynix announced the launch of the ‘SK ICT Alliance’ to jointly develop and invest in ICT convergence technologies, and create global market opportunities. 

Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix
Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix

The alliance comes as SK hynix celebrates the tenth year since joining the SK Group and SK Square successfully spun off from SK Telecom, marking the beginning of a new era of synergies between semiconductor, telecommunication and investment. 

Ryu young-sang, CEO of SK Telecom
Ryu young-sang, CEO of SK Telecom

With the aim to secure global competitiveness in diverse ICT areas such as semiconductors, 5G and AI, the three companies plan to carry out joint business activities in the global market by leveraging SK Square’s innovative investment, SK Telecom’s AI and 5G technologies and SK hynix’s  future semiconductor technologies.

Lee Seok-Hee, CEO of SK hynix
Lee Seok-Hee, CEO of SK hynix

From January 2022, the three companies will operate ‘Synergy Council’ chaired by Vice Chairman Park Jung-ho, and joined by Ryu Young-sang, CEO of SK Telecom, and Lee Seok-Hee, CEO of SK hynix. The Synergy Council will be the highest decision making body, where the executives discuss R&D cooperation and joint investments in semiconductor and ICT areas, and promote global market expansion. 

  • Increasing the presence of SK Telecom’s self-developed AI semiconductor SAPEON

SK Telecom, SK Square and SK hynix will first create synergies in introducing SK Telecom’s AI chip SAPEON* to the global market. The three companies will jointly invest to establish SAPEON Inc. in the U.S. and make inroads into the global AI semiconductor market. 

* SAPEON is SK Telecom’s self-developed AI chip launched in November 2020. Although it is about half the price of a Graphics Processing Unit (GPU), its deep learning computation speed is 1.5 times faster and it uses 20% less power than GPU.

SK Telecom plans to lead the development of SAPEON-related technologies by leveraging its R&D capabilities and service experience accumulated in 5G and AI. In the mid-to long-term, the company will expand its SAPEON model lineup by developing AI chips dedicated to data centers and autonomous driving. 

SK Telecom, SK Square and SK hynix Launch 'SK ICT Alliance' for Synergies
SK Telecom, SK Square and SK hynix Launch ‘SK ICT Alliance’ for Synergies

SK Telecom will also promote synergies between its AI semiconductor and SK hynix’s semiconductor memory technologies, while also attracting strategic and financial investors in cooperation with SK Square. 

SAPEON Inc. will serve as an outpost for expanding the AI semiconductor business to the global market by attracting U.S.-based big tech companies as major clients. It will also secure an edge in luring semiconductor development experts and drawing in outside investors. Moreover, as the subsidiary of SAPEON Inc., SAPEON Korea will take charge of business in Korea and the Asian region. 

Projecting that the convergence of AI and metaverse will define the future world of ICT, SK Telecom plans to innovate its three key services, T Universe, Ifland and AI Agent, in an accelerated manner. Moreover, it will also introduce new services by adding connected intelligence to future devices such as UAM aircrafts, self-driving cars and robots. 

"By proactively responding to changes taking place in the areas of AI, metaverse and 5G, we will prepare ourselves for the next decade," said Ryu Young-sang, CEO of SK Telecom.   

  • Creating an ICT investment capital of over KRW 1 trillion

SK Telecom, SK Square and SK hynix plan to establish a base to make investments overseas this year and attract investment from overseas financial investors to create and operate a total investment capital of over KRW 1 trillion. Detailed discussions on investments are already underway with prominent global investors.

With this investment capital, the three companies will actively invest in companies with innovative technologies such as AI, metaverse, block chain and semiconductors. 

Through these investment activities, they will be able to stay ahead of the convergence trend within the ICT industry and discover unicorns that can change the industrial landscape, which will lead to valuable business synergies. 

SK Telecom and SK hynix will be able to strengthen business partnerships with the companies they invested in or even secure an advantage in the acquisition of these companies in the future. SK Square expects to build a good track record as an investment company, while increasing its corporate value. 

According to market research company Mergermarket, the size of the global buyout market reached around KRW 1,400 trillion (USD 1.172 trillion) in 2021, increasing by about twofold from the previous year. Industries are being rapidly reorganized via M&As between global companies, and those that fail to keep up with this trend are left behind the competition. 

  • SK hynix to increase its global market presence through ‘Inside America’ strategy

SK hynix aims to become a top global tech company that leads the rapidly changing ICT industry.

Recently, the semiconductor market is witnessing more diversified demand from sectors like AI, autonomous driving and metaverse, and pluralization is taking place within the system architecture field like CPU, GPU and MPU. Since the existing law of competition no longer applies to this market, it is imperative for companies to develop new business models and technologies to remain competitive. 

With the acquisition of Intel’s NAND and SSD business, SK hynix is now fully set to strengthen the competitiveness of its NAND flash business. The company also aims to break away from its existing role as a semiconductor supplier and become a company that leads future technologies along with global ICT companies. 

Moreover, SK hynix will carry out its ‘Inside America’ strategy in the U.S., world’s largest ICT market and battlefield, to enhance its business competitiveness and expand into new partnerships. It will also establish a new business unit and R&D center in the U.S. Based on SK hynix’s competitiveness, the three companies expect to strengthen their collaboration with global ICT companies.

"SK hynix will take a leap to become a top-notch global tech company by offering more innovative technologies and products, and creating value for the society and humanity," said Lee Seok-Hee, CEO of SK hynix. 

Meanwhile, SK Square plans to accelerate the creation of synergies among the three companies by making innovative investments. In response to SK hynix’s moves towards global market expansion and new technology development, SK Square will make joint investments in the semiconductor ecosystem. In parallel, it will increase its investment in platforms that will drive future innovations such as metaverse and blockchain.

SK Square will also enter the new global block chain market by leveraging Korbit, a virtual asset exchange it recently invested in, and build a blockchain-based economic system in collaboration with SK Telecom’s metaverse platform Ifland.

"This year, the SK ICT Alliance will join forces to achieve new innovations and make a big leap forward in the global market," said Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix. "As leading players in the global semiconductor and ICT industries, we will also make best efforts to contribute to the Korean economy."  

About SK Telecom

SK Telecom (NYSE:SKM) is Korea’s leading ICT company, driving innovations in fixed & wireless telecommunications, AI service, and digital infrastructure service. Armed with cutting-edge ICT including AI and 5G, the company is ushering in a new level of convergence to deliver unprecedented value to customers. As the global 5G pioneer, SKT is committed to realizing the full potential of 5G through ground-breaking services that can improve people’s lives, transform businesses, and lead to a better society.

SKT boasts unrivaled leadership in the Korean mobile market with over 30 million subscribers, which account for nearly 50 percent of the market. 

For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM"), Flash memory chips ("NAND Flash") and CMOS Image Sensors ("CIS") for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

PR Newswire

Luokung Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Leave a comment

BEIJING, Jan. 7, 2022 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services ("LBS") and high-definition maps ("HD Maps") in China, today announced that it has received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A), which require that the closing bid price for the Company’s ordinary shares listed on Nasdaq be maintained at a minimum of US$1.00 and failure to maintain it for 30 consecutive trading days constitutes a compliance deficiency.

The notification has no immediate effect on the listing of the Company’s ordinary shares on Nasdaq.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of notification, or until July 5, 2022, to regain compliance with the minimum bid price requirement, during which time the Company’s ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before July 5, 2022, the bid price of the Company’s ordinary shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement. In the event the Company does not regain compliance by July 5, 2022, the Company may be eligible for additional time to regain compliance or may be delisted from Nasdaq.

The Company intends to monitor the closing bid price of its ordinary shares and may consider options that may be available to achieve compliance, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares at the end of the first or second compliance period, as the situation applies.

About Luokung Technology Corp.

Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and multi-sourced intelligent spatial-temporal big data, Luokung established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue ,among others). The Company routinely provides important updates on its website: https://www.luokung.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding our or our management’s expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "probable", "potential", "should", "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination and analysis of the existing law, rules and regulations and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you the statement herein will be accurate. As a result, you are cautioned not to rely on any forward-looking statements.

CONTACT:

The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-6506-5217
Email: ir@luokung.com

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com

PR Newswire

Tuya Smart at CES 2022: IoT Security Products in Spotlight as COVID-19 Spurs Global Demand for IoT

Leave a comment

LAS VEGAS, Jan. 7, 2022 — As a leader in the IoT sector, global IoT development platform service provider Tuya Smart (NYSE: TUYA) is also showcasing a number of brand-new security-related products and solutions at CES 2022. These offerings aim not only help developers launch products with high efficiency, but also reduce their worries about product safety.

Two years on from the beginning of the COVID-19 pandemic, CES 2022 is coming back to Las Vegas in person, enabled by heightened safety measures adopted by the event organizers. In the face of the continued pandemic, technology firms, industry experts and journalists are all coming together both online and offline to a different tech landscape, forever changed by COVID-19.

One of the major impacts of the pandemic on IoT and smart devices has been the rise of global network security issues, that have been further amplified by consumer needs and behaviors during the pandemic. According to a 2021 report from IoT Analytics, the number of connected IoT devices are expected to hit 12.3 billion active endpoints globally by the end of 2021 and grow to over 27 billion IoT connections by 2025. Coupled with increased remote work after the onset of the COVID-19 pandemic, consumers are more exposed than ever to online attacks. According to Akamai’s annual state of the internet security report, remote work and increased connectivity contributed to a spike in cyber-attacks, while web application attacks tripled in 2021, from what was already a record year in 2020.

At this year’s CES, network security has become a topic of concern for all major players in the industry. Among the issues, IoT security has risen a key focus for many manufacturers, developers and suppliers to exhibit their forward-looking vision and R&D capabilities, as there are particular challenges for IoT that differ from those of traditional network security. Throughout CES, posters and videos promoting network security solutions can abound and security-related hardware products are in pride of place at many booths.


At Tuya Smart’s CES booth, the company’s new IoT security module WBR3N, exhibited in physical form and available for virtual tour online, has drawn the attention of many journalists and industry professionals. This industry-leading security module is the first IoT module of its kind with a built-in secure element (SE) to hold a Common Criteria (CC) EAL6+ certificate.

Commanding comprehensively robust security guarantee, the module realizes mutual certificate authentication and device activation authentication between the device and the cloud, in addition to the Elliptical Curve Cryptography (ECC) security certificate and device certification information that is built into the Squeeze-and-Excitation (SE) block during the production process. In terms of communication, WBR3N uses TLS1.2 two-way strong verified communication based on security authentication, which represents the highest level of communication security in the industry.

In terms of security protection of device data, WBR3N uses built-in independent SE to execute the data encryption and decryption process, therefore fully safeguarding data security. At the same time, the module provides SE-based independent physical security storage, and has a built-in root of trust (RoT), through which storage is performed. The core codes also enjoy protection by the built-in SE, while OTA ensures process safety through a secure communication process and firmware verification.

Overall, WBR3N comes with multiple logical and physical protection layers such as metal shielding, end-to-end encryption, memory encryption, and tampering detection, able to effectively fend off various advanced attack methods such as power analysis and fault attack.

Aside from enhanced hardware security capabilities, Tuya Smart has also announced the release of Tuya Sage, an IoT security operation platform, at CES 2022. The solution is designed to help developers identify and eliminate potential security risks of the IoT system, and ensure security and compliance during system operations.

jwplayer.key=”3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE=”
 

jwplayer(‘myplayer1’).setup({file: ‘https://mma.prnasia.com/media2/1721942/VIDEO.mp4’, image: ‘http://www.prnasia.com/video_capture/3624498_CN24498_1.jpg’, autostart:’false’, aspectratio: ’16:9′, stretching : ‘fill’, width: ‘600’, height: ‘338’});

Shared security responsibility is the fundamental principle of IoT security. Shared security means that cloud providers are responsible for protecting cloud security, while developers are responsible for the security of the applications, data, and resources that use and access the cloud. In practice, many developers lack a holistic sense of the security and compliance status of global smart terminals, a challenge that industry experts are looking for solutions to address.

With Tuya Sage, developers have an oversight of all protected devices, including their basic security information and risk status. Once a device encounters an attack, the developer can complete the risk interception in just one click. Through real-time threat intelligence, Tuya Sage is able to identify local vulnerabilities in smart terminals in a timely and effective manner, allowing developers to fully understand the security and privacy compliance status of the terminal, as well as whether there is any non-compliant user data flow so that it can be rapidly addressed.

In recent years, Tuya Smart has spared no effort in advancing platform and technology-related security and compliance, and proactively conducting third-party data security certifications to meet the varying security needs of customers around the globe. This unique ability to meet the varying security needs of customers around the world puts Tuya Smart in a unique position as a leading global IoT development platform service provider.


According to the public information, Tuya Smart has obtained a number of third-party data security certifications, including BSI’s ISO27001 standard for information security system, ISO27017 standard for cloud security management system, ISO27701 standard for cloud platform privacy and security, and the CSA STAR cloud security certification. In terms of regional compliance, Tuya Smart has passed Ernst & Young’s SOC 2 Audit as well as TrustArc’s GDPR and CCPA’s regional compliance validation. The company is also a recipient and member of TrustArc’s Enterprise Privacy Certificate (EPC).

When it comes to product safety standards, Tuya Smart has passed TÜV SÜD’s EU ETSI standard for cybersecurity in IoT, as well as the ioXt Alliance’s hardware safety certification in 2021. The company has also been partnering with Rapid7, wizlynx group, ScienceSoft, UnderDefense and Kaspersky to vigorously carrying out tests of platform service security.

In the long list, names like TrustArc and Ernst & Young are regarded as the most credible third-party organizations in validating or auditing security and compliance. With the proactive approach to certification and security cooperation, it is safe to say that Tuya Smart is a firm that attaches the greatest importance to safety and compliance.

At this year’s CES, manufacturers, developers and suppliers are all eager to present fresh electronics. But as consumers look to new electronics to bring into their homes, one of the features they will increasingly look for is trust and security assurance. It cannot be ignored that security is the guardian and foundation for all software and hardware products. This year the new offerings from Tuya Smart are a solid contribution to security for the IoT industry.

About Tuya Smart

Tuya Smart (NYSE: TUYA) is a leading technology company focused on making our lives smarter. Tuya does this through offering a cloud platform that connects a range of devices via the IoT. By building interconnectivity standards, Tuya bridges the intelligent needs of brands, OEMs, developers, and retail chains across a broad range of smart devices and industries. Tuya solutions empower partners and customers by improving the value of their products while making consumers’ lives more convenient through the application of technology. Through its growing commercial SaaS business, Tuya offers intelligent business solutions for a wide range of verticals. The Company’s platform is backed by industry-leading technology complete with rigorous data protection and security. Tuya partners with leading Fortune 500 companies from around the world to make things smarter, including Philips, Schneider Electric, Lenovo and many others.

https://mma.prnasia.com/media2/1721942/VIDEO.mp4?_=1