Tech
Nokia Announces Job Cuts of Up to 14,000 Due to Slower 5G Demand
Nokia Plans Workforce Reduction of Up to 14,000 Jobs Amid Declining Profits Due to Weaker 5G Demand
On Thursday, Finnish telecommunications giant Nokia disclosed its intentions to trim its workforce by potentially up to 14,000 employees. This move comes in response to declining profits attributed to a waning demand for its 5G equipment in North America.
Nokia’s recent financial performance fell significantly below expectations, creating a sense of uncertainty regarding its future outlook. Atte Riikola, an analyst at the equity analysis firm Inderes, expressed his concerns, stating, “The earnings were much weaker than expected and the outlook is more uncertain. So it’s not looking that good in the short term for Nokia.”
Despite the challenges faced in the third quarter, Nokia expressed optimism about an anticipated “improvement in our network businesses in the fourth quarter.” However, Riikola believes that Nokia’s initial estimates may need substantial downward adjustments, suggesting a potential negative profit warning.
The competition for dominance in the 5G network arena, involving rivals such as Sweden’s Ericsson and China’s Huawei, has placed further pressure on Nokia. Consequently, Nokia’s sales dropped by 20 percent, totaling 4.98 billion euros during the third quarter of 2023.
Nokia had originally anticipated that the expansion of its 5G infrastructure in India would offset the slowdown in North American investments by telecom operators. Unfortunately, the company faced disappointment as the pace of 5G deployment in India moderated, making it unable to compensate for the decline in North America.
The economic downturn that has reverberated globally has also impacted the investments of mobile network operators, leading to decreased profitability for Nokia and Ericsson. These companies had initially benefited from increased demand during the COVID-19 pandemic but are now compelled to implement workforce reductions as the industry grapples with a slowdown.
Nokia’s announcement aligns with a broader trend of job cuts across the tech sector, with numerous major players taking similar measures this year. British telecom group BT, for instance, disclosed plans in May to eliminate up to 55,000 jobs by the end of the decade. Tech giants Meta and Microsoft have likewise unveiled intentions to reduce their workforces by potentially up to 10,000 employees this year. Earlier in the year, online retail giant Amazon announced layoffs affecting over 18,000 jobs globally, and Google’s parent company, Alphabet, confirmed cuts of around 12,000 positions.
Tech
Xiaomi 14: A Reliable Flagship Device That May Not Suit Everyone
The Xiaomi 14 is speculated to come with a Leica camera and a compact design, making it an appealing choice for consumers, including myself. It’s encouraging to see Xiaomi’s dedication to producing high-quality Android phones, as increased competition benefits both the segment and consumers.
So, is the Xiaomi 14 worth considering? Is it groundbreaking enough to justify its price tag of Rs 69,999? After testing the device extensively, here are my insights as the Xiaomi 14 becomes available in stores.
Compact Design:
I’m a strong advocate of compact flagship phones. With most devices becoming oversized and mundane, Xiaomi’s decision to create a compact flagship is commendable, especially when other major brands have moved away from this trend. The Xiaomi 14 impressively packs a larger screen into a smaller body, making it comfortable to hold and carry.
The phone fits perfectly in hand and pocket, unlike many mainstream smartphones, including the hefty iPhone 15 Pro Max. At 193 grams, it’s lightweight yet durable, featuring a sleek squared camera module on the back and a fingerprint-resistant matte black finish. The design exudes premium quality, and the phone’s IP68 rating ensures durability. The flat screen with Gorilla Glass Victus protection and flat edges around the frame adds to its appeal.
High-Quality Display:
The 6.3-inch AMOLED screen dominates the front, except for a notch housing the front camera. The fingerprint sensor under the screen is responsive, and the display offers a sharp resolution of 2,670 x 1,200 pixels, delivering 460 pixels per inch. The dynamic refresh rate ranging from 1 Hz to 120 Hz ensures smooth animations and scrolling, optimizing battery life when necessary. The display is bright enough for outdoor use, supports Dolby Vision and HDR10+, and provides an enjoyable movie-watching experience.
Performance:
Equipped with the Snapdragon 8 Gen 3 processor, 12GB of RAM, and 512GB of internal storage, the Xiaomi 14 delivers blazing-fast performance. It handles intensive tasks seamlessly, from running apps like LinkedIn and Netflix to handling large mobile games and image editing. However, it’s worth noting that the Gen AI features are currently missing in the HyperOS, which could be a drawback considering the current tech trends emphasizing AI capabilities.
Battery Life:
The Xiaomi 14’s 4,610 mAh battery offers decent performance, lasting through a day of moderate use. However, heavy usage may require recharging by night. Fortunately, the phone comes with a 90-watt charger and USB-C cable for quick charging, replenishing the battery in just over half an hour.
Camera Quality:
Highlighted as a standout feature, the Leica camera system comprises three 50-megapixel lenses, offering impressive capabilities. The telephoto lens excels in portrait shots, while the main camera provides excellent dynamic range. However, the camera’s performance may not match that of top competitors like the Galaxy S24 Ultra or iPhone 15 Pro, especially in capturing natural tones and textures.
Verdict:
Despite minor drawbacks, the Xiaomi 14 stands out as a compelling premium Android smartphone. Its compact design, robust performance, and impressive camera system make it a strong contender in the market.
Tech
Uber Introduces CO2 Emission Tracking for ‘Green’ Rides
Uber introduced its “Emission Savings” feature on Tuesday, allowing users to track the amount of tailpipe carbon dioxide emissions they save by opting for Uber Green vehicles. Uber Green offers electric vehicles rather than internal combustion engine vehicles.
The company rolled out this feature in Delhi-NCR, Mumbai, and Bengaluru as part of its effort to encourage a shift towards sustainable choices. This initiative aims to educate riders about their environmental impact and motivate them to adopt a low-emissions lifestyle.
Nitish Bhushan, Head of Central Operations at Uber India, stated, “We understand that people often find it challenging to gauge their environmental contribution by using a sustainable energy vehicle for a single ride. Having a clear understanding of this impact is crucial for making informed decisions about sustainability in daily life. The Emission Savings feature is designed to facilitate this.”
Users can access an estimate of their saved tailpipe emissions by tapping the “Estimated CO2 saved” button in the Account section of the app. Additionally, the feature includes a graphic illustrating the equivalent of their CO2 emissions savings.
Uber calculates emission savings by comparing the average emissions when a user chooses Uber Green over an Uber Premier trip covering the same distance.
Tech
Explore Over a Million Job Listings at Elon Musk’s X: Discover Opportunities for Yourself
Since its inception, ‘X Hiring’ has been integrated into a broader strategy aimed at expanding the spectrum of services provided by X.
Interested in joining Elon Musk’s team at X (formerly Twitter)? The company recently announced that there are over a million job vacancies available on the platform. A post shared by the company stated, “1 million+ open jobs. just saying. x.com/jobs.” Clicking on the link directs users to a new page where they can explore available positions by specifying ‘keyword’ and ‘location’.
In January, a similar announcement was made on X Hiring’s platform, declaring, “Over 1 million job postings are now live on X! Seeking a new opportunity? Explore your next career move through X Hiring: https://x.com/jobs”. This post was also reshared by X’s owner, Elon Musk.
The X Business handle echoed this sentiment with its own post, stating, “There are currently more than 1 million job postings active on X! Companies spanning AI, financial services, SaaS, and more are leveraging X Hiring to find skilled candidates every day.”
This initiative aligns with Elon Musk’s vision to transform X into a multifaceted “everything app”, similar to Tencent’s widely-used WeChat app in China, which extends beyond social media.
In related news, Elon Musk disclosed that X is on the verge of obtaining a money transmitter license in New York, paving the way for the platform to introduce payment features. During the Morgan Stanley technology, media, and telecom conference, Musk mentioned that the license for California could be granted within the next month or so, while the approval for New York might take a few additional months.
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