Category: Technology

NIIT sees early signs of recovery in IT services hiring

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gurugram-based NIIT that specialises in skills and talent development is seeing green shoots of recovery in hiring trends in the information technology (IT) sector.

While NIIT’s tech revenue declined in the third quarter due to a freeze in early-career hiring within IT firms, Vijay K Thadani, VC and MD of the company said the it has been compensated by the hiring in the banking, financial services, and insurance (BFSI) sector.  Revenue from BFSI (which now contributes nearly 30% to revenues) and other programs has increased by 34% year-on-year. Overall revenue declined 9% to ₹85.1 crore from ₹93.2 crore last year. Profit after tax (PAT) was flat at ₹14.3 crore.

The company is now working to de-risk the mix and take advantage of growth sectors.

According to Thadani, there are three areas with significant opportunities. Cybersecurity and cyber risks is one such area. There are also newer areas such as artificial intelligence (AI), where it will be interesting to see how grooming of fresh talent pans out. Another interesting area that has a lot opportunity is decarbonisation, an industry that focuses on reducing carbon dioxide emissions through innovative technologies and strategies, aiming to mitigate climate change impacts and transition towards a low-carbon economy.

Also Read | NIIT explores new frontiers for skill development in changing job landscape

The company has intensified its focus on Global Capability Centers (GCCs) and Tier II GSIs, while also witnessing the scaling up of its BFSI and India Enterprise Business due to increased demand.

With a net cash balance of ₹718 crore, the company is emerging from the negative growth cycle that began in Q4FY23 and is improving its profitability, he noted.

Also Read | Artificial intelligence will affect almost 40% of jobs, IMF says

The stock has shed around 62% over last year. The company’s current market capitalisation is ₹1,797.59 crore.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

After Netflix, YouTube and Spotify opting out of launching Apple Vision Pro apps

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Google’s YouTube and Spotify, the world’s most popular video and music services, are joining Netflix in steering clear of Apple’s upcoming mixed-reality headset.

YouTube said in a statement Thursday that it isn’t planning to launch a new app for the Apple Vision Pro, nor will it allow its longstanding iPad application to work on the device — at least, for now. YouTube, like Netflix, is recommending that customers use a web browser if they want to see its content: “YouTube users will be able to use YouTube in Safari on the Vision Pro at launch.”

Spotify also isn’t currently planning a new app for visionOS — the Vision Pro’s operating system — and doesn’t expect to enable its iPad app to run on the device when it launches, according to a person familiar with the matter. But the music service will still likely work from a web browser.

The Vision Pro will include access to Apple’s apps for music and podcasts, which compete with Spotify’s offerings. But getting snubbed by Netflix, Spotify and YouTube means that the most popular streaming apps won’t be available when the headset launches on February 2. Apple has largely marketed the device as a platform for video, games and other entertainment.

YouTube is a particularly large omission for the product. When Apple’s original iPad launched in 2010, YouTube was one of a handful of apps preinstalled on the tablet. The company didn’t rule out eventually supporting the Vision Pro but said it had “no further plans to share at this time.”

YouTube and Spotify continue to offer popular apps for the iPhone and iPad. And that, theoretically, gave them an easy path toward supporting the Vision Pro. Developers with iPad software in the regular App Store will see those apps appear in the Vision Pro store by default. That means developers have to opt-out if they don’t want to participate.

Several other entertainment apps are still participating, including Disney+, Max, Peacock, ESPN and Amazon Prime Video. Altogether, Apple says the device will support more than 1 million titles in the headset’s App Store. The company will begin taking preorders for the Vision Pro on Friday.

YouTube and Spotify declined to say why they bowed out of supporting the $3,499 device. Spotify doesn’t offer an app on competing headsets, such as Meta’s Quest, though YouTube does. Spotify also has been embroiled in a fight with Apple over App Store policies, but the decision on the Vision Pro isn’t related to that, according to a person familiar, who asked not to be identified because the deliberations are private.

Searches conducted by MacStories on Thursday indicated that other key iPhone and iPad apps, including Meta’s Facebook, Instagram and WhatsApp, aren’t currently set to work on the Vision Pro either. But that could change by the device’s launch, or those developers could be planning new dedicated versions for visionOS. Meta didn’t immediately respond to a request for comment.

Apple’s executive in charge of the Vision Pro told employees this week that he expects health care, technician training and education to eventually become key areas for the product. The company also is studying corporate applications, Bloomberg News reported Thursday.

The Vision Pro represents Apple’s first major new product category since it began selling smartwatches in 2015.

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WEF 2024: IT Minister Vaishnaw flags concerns on deepfakes, hints at social media platforms not doing enough

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IT Minister Ashwini Vaishnaw expressed deep concern about the impact of the deepfakes on democratic systems and has asked individual social media platforms to take responsibility for the content published.

He flagged how while the government has conveyed concerns to the social media companies, there were questions about how much effort they were putting into combating deepfakes.

Vaishnaw shared concerns about AI-enabled deepfakes, in an exclusive conversation with CNBC-TV18, on the sidelines of the World Economic Forum (WEF) 2024 in Davos, Switzerland.

Referring to actions by intermediaries, Vaishnaw said, “[Social media companies] need to put in the kind of effort they put in in their home country. Actually, should put in more effort here (in India), because our diversity is significantly more complex compared to what they have in their home country. They should put in more effort.”

On the regulatory framework, he said that due to the upcoming Lok Sabha elections, the government didn’t have time for new legislation. He noted that the government was trying to work within the framework of existing regulations. But he cautioned that after the elections, the Centre will consider new legislation to combat the menace of deepfakes.

He cited conversations with two communication ministers he met in Davos and highlighted how there were shared concerns about AI-backed deepfakes and their impact on democratic processes.

He clarified that the government’s view is clear that it has to be dealt with strongly, not only through a regulatory mechanism but also through a penal framework.

Also Read: WEF 2024: Ashwini Vaishnaw expects 2-3 ‘major’ semicon investments post elections

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

WEF 2024: Ashwini Vaishnaw expects 2-3 ‘major’ semicon investments post elections

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Telecom, IT and Rail Minister of India, Ashwini Vaishnaw, announced that he expects two to three major semiconductor investments in India, immediately after the general elections this year.

“In the coming few months, immediately post elections — we can see maybe two to three major new projects,” Vaishnaw made the announcement, in an exclusive conversation with CNBC-TV18, on the sidelines of the World Economic Forum (WEF) 2024 in Davos, Switzerland.

He said that the confidence in India as a semiconductor destination was very different from what it was a few years ago. He noted how India handled the Micron investment had inspired a lot of confidence among global players. Additionally, he cited how the interest shown by the likes of Applied Materials and AMD, had further strengthened India’s image.

He further added, “It is a new industry for us. India has been strong in design, but manufacturing is new to us. People are watching carefully how India is moving. PM Modi gave us a 20-year time frame. We have put a huge focus on the broader ecosystem.”

Also Read: WEF 2024: Ashwini Vaishnaw backs mobile industry demand for tariff cuts on components

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amazon layoffs: Nearly 30 employees face job cuts in Buy with Prime unit

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tech layoffs that began in 2024 do not seem to be pausing even in the third week of the year as Amazon has announced that it is now trimming the workforce in its Buy with Prime unit by about 30 employees.

According to a CNBC International report on January 18, Amazon, without divulging a specific number, has said the fresh job cuts will affect fewer than 5% of staff in the Buy with Prime division.

“We regularly review the structure of our teams and make adjustments based on the needs of the business and, following a recent review, we’ve made the difficult decision to eliminate a small number of roles on our Buy with Prime team,” an Amazon spokesperson said in a statement cited by CNBC International.

Buy with Prime programme, a service that lets online stores offer the same two-day shipping benefits available to Prime subscribers, was expanded by Amazon since its launch in April 2022, including tie-ups with Shopify and Salesforce.

According to the report, few of the affected employees worked in Amazon’s multichannel fulfillment unit, which sits alongside Buy with Prime under the “Project Santos” organisation, overseen by Peter Larsen, a longtime vice president at the company, a person with knowledge of the cuts told CNBC International.

Amazon, however, has said it is supporting the laid-off staff to find roles inside and outside the company, Reuters reported.

Earlier this month, Amazon already announced its decision to implement significant layoffs across its Prime Video and MGM Studios divisions as well as its livestreaming unit Twitch.

Since the end of 2022, Amazon has implemented the most extensive series of layoffs in its history, amounting to over 27,000 job cuts across various departments. The latest reductions are being seen as part of Amazon’s continued commitment to optimising its operations for sustained growth.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

WEF 2024: Ashwini Vaishnaw backs mobile industry demand for tariff cuts on components

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s Telecom, IT and Rail Minister Ashwini Vaishnaw has openly supported the mobile manufacturing industry’s demand for tariff cuts on imported components, calling it the “next logical step”. He confirmed that there was “absolutely” a case made for a cut in import duties on mobile components.

He confirmed his support for the industry demand, in an exclusive conversation with CNBC-TV18, on the sidelines of the World Economic Forum (WEF) 2024 in Davos, Switzerland.

Ashwini Vaishnaw said, “We’ve had a detailed discussion with the industry. Most of the industry gave clear, cogent reasons for the demand for duty cuts. We have also made recommendations.” He noted that that industry has successfully been able to meet the domestic demand through manufacturing in India. He reasoned that the focus of the mobile manufacturing industry now needs to shift from import substitution to export-led growth.

Earlier this month, the industry body ICEA released a report which highlighted the cost disability that India faces vis-à-vis China and Vietnam, due to high import tariffs. The report concluded that a cut in tariffs on imported mobile components could lead to incremental exports of 44%.

The report argues that a reduction in Customs duty could unlock incremental exports of 44%. As per the report, business as usual will lead to exports scaling up from $11 billion in FY23 to $27 billion by FY27. ICEA argues that with duty cuts on imported components, exports could swell to $39 billion.

However, the minister steered clear of any commitment on when the tariff cuts could be expected. He said, “Would leave that to the Budget process. It is a part of the Budget exercise.”

He further expressed confidence in the electronics manufacturing space. He noted that during his visit to Davos, he witnessed a lot of interest, from major players, in the mobile component manufacturing space. He said, “We could see that at least two would like to have a significantly large footprint in India.”

He also added, “Important manufacturers were here (in Davos). Five of them said that they want to double their manufacturing footprint in India.”

Also Read: Davos 2024 | India pushes women empowerment & gender equality through new global alliance to meet G20 commitments

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Huawei takes a break from Android with next version of Harmony OS, suggests report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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China’s Huawei Technologies will not support Android apps on the latest iteration of its in-house Harmony operating system, domestic financial media Caixin reported, as the company looks to bolster its own software ecosystem.

The company plans to roll out a developer version of its HarmonyOS Next platform in the second quarter of this year followed by a full commercial version in the fourth quarter, it said in a company statement highlighting the launch event for the platform in its home city of Shenzhen on Thursday.

Huawei first unveiled its proprietary Harmony system in 2019 and prepared to launch it on some smartphones a year later after US restrictions cut its access to Google’s technical support for its Android mobile OS.

However, earlier versions of Harmony allowed apps built for Android to be used on the system, which will no longer be possible, according to Caixin.

Huawei did not respond to a request for comment.

Last August, Huawei unexpectedly launched its Mate60 series of smartphones, which are believed to be powered by a domestically developed chipset.

The release was widely viewed as marking Huawei‘s comeback into the high-end smartphone market after years of struggling under US sanctions.

The company expects 2023 revenue to exceed 700 billion yuan ($97.3 billion), amounting to 9% year-on-year growth, according to an internal message last month.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reddit seeks to launch IPO in March

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Social media platform Reddit has drawn up detailed plans to launch its initial public offering (IPO) in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter.

It would be the first IPO of a major social media company since Pinterest’s debut in 2019, and would come as Reddit and its peers face stiff competition for advertising dollars from the likes of TikTok and Facebook

The offering would also test the willingness of some Reddit users to back the company’s stock market debut. Many investors posting on the platform have helped fuel dozens of “meme” stock rallies in the last three years, from retailer GameStop to movie operator AMC Entertainment Holdings.

Reddit, which filed confidentially for its IPO in December 2021, is planning to make its public filing in late February, launch its roadshow in early March, and complete the IPO by the end of March, two of the sources said.
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The San Francisco-based company, which was valued at about $10 billion in a funding round in 2021, is seeking to sell about 10% of its shares in the IPO, the sources added. It will decide on what IPO valuation it will pursue closer to the time of the listing, according to the sources.

The sources cautioned that Reddit’s IPO plans could be pushed back, as has happened in the past, and asked not to be identified discussing confidential deliberations.

A Reddit spokesperson declined to comment.

Also Read: Explained | Why the biggest communities on Reddit have gone dark

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

From Samsung and Xiaomi launches to Moto G34 5G review, here is your tech wrap of the week

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The world of technology had some major launches and updates this week. Two tech giants, Samsung and Xiaomi, launched their products this week. With that, we have also brought you reviews of some of the other products on the smartphone market.

Samsung Galaxy S24 series launch

On Wednesday, Samsung launched its 2024 flagship, the Galaxy S24 series. The newly launched smartphones’ AI capabilities have been powered by Google, say reports. The base model of the series is priced at ₹79,999 and two higher-specification versions, the Galaxy S24+ and S24 Ultra, are available at ₹99,999 and ₹1,29,999, respectively.

Xiaomi’s 360-degree security camera launch

Xiaomi has now expanded itself from just a smartphone brand with the launch of its 360 Home Security Camera. The smart surveillance product is equipped with a 3-megapixel camera and 2K HD video capabilities. As per the official site, the 360m Home Security Camera from Xiaomi has been priced at ₹3,299.

Apple becomes the world’s top phone maker in 2023

Apple’s iPhone has finally surpassed the South Korean tech giant Samsung to become the top phone maker in 2023. The iPhone was fifth in the global market with close to 235 million shipments last year, as per IDC estimates.

For 2024, Apple has introduced rare discounts of as much as 5% on the iPhone in India.

Moto G34 5G review

Launched recently, Moto G34 5G has been performing efficiently for budget-friendly customers. As per the reviewer on CNBC TV18, the Moto G34 5G stood out as a well-rounded and cost-effective smartphone while boasting Android 14 with a decent processor.

The handset which comes under ₹11,999, sports a 50MP quad-pixel primary camera setup. It has been equipped with the reliable Snapdragon 695 SoC as well.

Lava Storm 5G review

Lava brought its Storm 5G with an FHD+ display for the 6.78-inch panel and a glass back. This serves a premium look to the handset and feels similar to Samsung’s Galaxy S23 design. As per the CNBC review, another major surprise is its battery capacity which is around 5,000 mAh. The handset is available in major stores, and online shopping sites at ₹12,499.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

European Union sends information request to 17 tech firms including Amazon, Apple, Meta

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The European Commission said on Thursday it had sent requests for information under the EU’s Digital Services Act (DSA) to 17 tech companies that it regards as very large online platforms (VLOP) and search engines.

It said it contacted AliExpress, Amazon’s Amazon Store, Apple’s AppStore, Booking.com, Meta’s Facebook and Instagram, Alphabet’s Google Search, Google Play, Google Maps and Google Shopping, Microsoft’s LinkedIn and Bing, Pinterest, Snapchat, TikTok, YouTube and Zalando.

The EU asked the companies to provide more information by February 9 on measures they have taken to give researchers access to data that could be relevant to the upcoming EU and national elections as well as countering illegal content and goods sold online.

The DSA came into force in November of last year and requires very large online platforms and search engines to do more to tackle illegal content and risks to public security.

The Commission opened its first probe under the DSA in December 2023 into social media company X over suspected breaches of its obligations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow