HTC Reports a 44% Loss YoY in Q2
HTC continues on its three-year decline by reporting its latest results of Q2 at NT $8.9 billion or $598 million compared to NT $33.0 billion or 1.07 billion from a year ago. The 44% drop compared to last year signals the struggle the smartphone manufacturer faces amidst competition due to the a lack of hardware profit margins and competition.
The company is hoping for more sales momentum with the release of the HTC 10 and the company continues regional expansion for its VR tech. The Vive VR rig is giving a boost to the HTC and contributing a 27 percent rise in revenues over Q1 this year.
Snapchat partners with The National Football league on Video
Snapchat has partnered with The National Football League, making it the first sports league to get a media channel on the social media app. As part of the new channel, the NFL will package “Live Stories,” a 24-hour diary for every game provided from photos and video content from fans.
Millennials especially use Snapchat and will allow the NFL’s content to reach the 150 million users who log into the app daily. The content will not be exclusive to Snapchat, rather will compliment what the NFL does on television and other platforms. Some of the newly acquired audience on Snapchat includes casual fans such as young female viewers, who the NFL has otherwise had a hard time capturing. Last year, the NFL had 70 million people view its Snapchat content globally over 58 Live Stories created around the games in the regular and post season.
Founders of Gawker Media File Bankruptcy to Protect Assets from Hulk Hogan Lawsuit
Nick Denton of Gawker Media has filed for Chapter 11 to protect his assets from former professional wrestler Hulk Hogan who sued the founder of Gawker Media in 2012 after the news site published one of Hogan’s sex tapes. The scandal deepens with tech billionaire Peter Thiel (cofounder of Paypal and Palantir) having funded the Hogan lawsuit due to a personal vendetta against the coverage he received from the media site.
In March 2015, a Florida jury ruled in favor of Hogan awarding him over $140 million in damages. Gawker is appealing the judgment, however, the appeals court will not rule until next year. In the meantime, the bankruptcy prevents Hogan from seizing Denton’s assets while transferring the company’s assets to a new owner, allowing the website to continue operating. Traffic to Gawker Media has increased from 92 million global visitors to 104 million monthly global visitors since the bankruptcy filing.
Hackers at BlackHat bypass Chip Protection on Credit Cards
Researchers at the security conference known as BlackHat have discovered a security flaw in the new chip credit cards, which were previously considered to be “nearly impossible” to hack. On Wednesday in Las Vegas, computer researchers presented a method to rewrite the magnetic strip code to make the card read like a chipless card. The flaw is possible because the retailers are not encrypting chip card transactions. Retailers will have to pay more to encrypt the transactions in order to prevent security breaches, with the estimates upgrades costing U.S. retailers up to $25 billion.
Amazon Launches Cargo Planes for Package Delivery
The United States Post office may have a new competitor with the e-commerce giant Amazon.com launching the Amazon One, a branded plane operated by Atlas Air. The Boeing 767-300 is the first of an expansive “air transportation network” according to Dave Clarke, the company’s senior vice president of worldwide operations. Amazon plans to lease 40 planes total from Atlas Air and ATSG, another partner, over the next two years. The decision will speed delivery for customers.