Fri. Jan 21st, 2022

This article is an on-site version of our #techFT newsletter. Sign in here to have the complete newsletter sent straight to your inbox every weekday

appeal a 4,000-word paean published Monday to the performance of its service business in 2021 and its prospects for 2022 – a multi-year success story that has driven the company to its $ 3tn valuation.

The headlines in the extraordinarily long press release were about 745 million paid subscriptions and developers selling digital goods and services that have earned more than $ 260 billion since the App Store was launched in 2008. ago, says Bloomberg, and represents a new annual record.

Given Epic Games’ lawsuit and antitrust action, Apple was reluctant yesterday to cut this huge total, ranging from 15 to 30 percent, but it’s clear that the App Store and services have become an important part of Apple’s business , which produced nearly $ 70 billion in revenue last year with margins of 70 percent.

Apple has outlined all of its services in its release, but highlights the content it now sells, from the launches of major Hollywood studio movies to its own Apple Originals, such as the movies CODA and The tragedy of Macbeth. AppleTV + is streaming them, Apple Arcade has expanded its library of games and Apple Music, Apple Books and Apple Podcasts are still adding titles and features, such as an enhanced classical music service available later this year. Apple Fitness +, Apple News, Apple One, Apple Card, Apple Pay, Apple Maps and iCloud + have also won Apple Awards.

Patrick McGee looked at the road to $ 3tn mapped by Tim Cook last weekend’s Big Read and reported services were central to its success, with their recurring revenue significantly reducing Apple’s dependence on the iPhone.

Line chart of Forward P / E from Icahn's stake to now showing Apple's journey to premium stock

“Tim Cook’s greatest success is the cultivation and promotion of services, and the extent to which he has succeeded in revolutionizing the way the company is perceived in the eyes of investors,” says Tripp Mickle, author of the forthcoming book . Na Steve, a history of Apple’s past 10 years.

Ray Wang, chairman of Silicon Valley-based Constellation Research, said Cook did not show the same genius as Steve Jobs in developing new products, but built on those achievements.

“We’re not going to give Tim the honor of coming up with the next innovative idea, but what you can give him is that you have a platform of hardware that suddenly has services that will be 25 percent of revenue by 2025, he said.

The internet of (five) things

Google lobby to influence EU technology rules
Google makes one last attempt to water down the EU’s forthcoming regulation on Big Tech with a spate of ads, emails and targeted social media posts aimed at politicians and officials in Brussels, as the company fears that the legislation will affect its profit margin.

2. Signal’s CEO resigns
Moxie Marlinspike, CEO of the encrypted messaging application that exploded in popularity last year during a setback over rival WhatsApp’s privacy policies, is retiring and will be replaced on an interim basis by WhatsApp co-founder Brian Acton.

Daily newsletter

#techFT brings you news, commentary and analysis on the major companies, technologies and issues that shape this fastest moving sector of specialists based around the world. click here to get #techFT in your inbox.

3. Darktrace’s prospects brighten
Darktrace shares rose this morning after the London-listed cyber security group upgraded his leadership for revenue growth for the third time since its IPO last April. Lex says the future looks better as the company’s share price recovers from inside stock sales and a bearish brokerage note.

Lex chart showing Darktrace share price

4. Indian Government Takes Vodafone Idea Interest
Vodafone Idea has a rescue plan approved to make India’s government its largest shareholder, by nationalizing a nearly 36 per cent stake in the faltering mobile phone operator to prevent its collapse. The company, a joint venture between the British telecommunications group and India’s Aditya Birla conglomerate, boosted market share to better-funded competitors, including Reliance Jio, and was hit by a New Delhi multibillion-dollar debt account across historic spectrum and other license fee payments.

5. Chip shortages hit VW sales
Volkswagen 10,000 less sales electric motors in China than expected last year as deliveries to customers in its largest market were hit by semiconductor shortages amid fierce competition from local brands. The German brand has sold 70,000 of its five flagship ID models, with sales ranging from 80,000 to 100,000 cars by 2021.

Technical tools – Samsung Freestyle

Looking back at striking products from last week’s CES Consumer Electronics Show, Samsung unveils Freestyle, a projector, smart speaker and ambient lighting device all rolled into one. The device is highly portable, weighs only 830 grams and is compatible with external battery packs. Its cradle allows up to 180 degrees of rotation, enabling users to display high quality video on walls, floors and ceilings. The Freestyle is now available for pre-order in the US at $ 899.

#technology Asia Your guide to the billions that are made and lost in the world of Asia Tech. Sign in here

#fintechFT – The latest on the most pressing issues in the technology sector. Sign in here

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *