Xiaomi Launches Laptop Air
Xiaomi, the third largest smartphone supplier globally, released the Mi Notebook Air today to compete with Apple’s Macbook Air. In addition to the similar sounding name, the Mia also features a full-sized keyboard and an individually lit keyboard. The 12.5 inch model will go on sale in China for $540 with a larger model priced at $750. As of now, Xiaomi is only sold in China. One of the premium features of the laptop includes a Nvidia GeForce 940MX graphics card which allows games to be played at 85 frames-per-second at full-HD resolution.
Xiaomi is best known for their smartphones priced at $60 and popular in China. The company has also designed action cameras, smart weighing scales, water purifiers, drones and hoverboards. Xiaomi’s CEO Lei Jun said the new laptop was designed to fill a niche, especially for those who want more capabilities than Intel’s integrated graphics, which limit the gaming capabilities.
Verizon completes deal for Yahoo at $4.8 billion
On Monday, Verizon confirmed the rumors from last week that Yahoo was to be bought by the telecommunications giant in a deal worth $4.8 billion. The deal will include Yahoo’s core operating business and patents while also growing Verizon’s audience from the millions to the billions, according to a spokesperson for the company. This is the second large major acquisition by Verizon, which bought AOL for $4.4 billion. Combined, Yahoo will enhance AOL’s offerings with advertising technology tools, as well as search, mail, messenger and real estate in Silicon Valley. Strategically, this puts Verizon in position to go after mobile and video. Combined AOL and Yahoo have 5 percent of the digital ad market where Google and Facebook dominate. The deal is expected to close in the first quarter of 2017.
Tesla to Build GigaFactory
Last week, Elon Musk announced his master plan for his automotive and energy storage company. To support his plans, which include producing 500,000 cars per year, Tesla is building a “gigafactory” located 20 miles East of Sparks, Nevada, where Tesla plans to build the batteries to power its electric vehicles. Once finished, the structure will cover 5.8 million square feet with plans for a jewel-shaped building with glittering solar panels on the roof.
Facebook Hits Record Share Price, Smashes Q2 Earnings
Facebook added 60 million users in Q2 2016 reaching 1.71 billion monthly users globally. The Q2 revenue hit $6.44 billion exceeding expectations of $6.02 billion. Facebook has been on track 16 out of 17 quarters with Wall Street reacting to the most recent earnings with a 7.5% bump priced at $132.60 per share.
Facebook now has 1 billion daily mobile users. Revenue growth was 59% year over year.
Twitter Revenue Growth Slows; Shares Down 11%
Twitter posted Q2 earnings of 13 cents per share on revenue of $602 million, slightly lower than Wall Street expectations. The average monthly active users at 313 million puts Twitter in a state of slowing growth even after CEO Jack Dorsey has returned to the company.
This week, the shares dropped 11% with predictions of Twitter being the next acquisition target following Yahoo this week.