- Huawei is reportedly in talks to sell off parts of its Honor unit.
- It’s believed that Digital China, TCL, and Xiaomi are interested in the deal.
US sanctions against Huawei mean that the company’s smartphone business has suffered in a big way. Between its crippled in-house chipset division and the lack of Google support, it’s becoming increasingly tough for the firm to keep producing phones.
These troubles extend to its Honor sub-brand too, but Reuters now reports that Huawei is in talks to sell off parts of the Honor business in a deal potentially worth up to 25 billion yuan (~$3.7 billion).
The report, citing “people with knowledge of the matter,” alleges that Honor’s brand, research and development infrastructure, and associated supply chain management business could be sold under the deal. However, the newswire’s sources caution that this hasn’t been finalized yet.
It’s believed that Huawei will focus on higher-end phones due to the US sanctions. Honor has traditionally been focused on young and/or budget-conscious consumers.
Who would do Huawei the honor, then?
Reuters reports that Honor phone distributor Digital China is considered a front-runner for the deal. However, the newswire adds that TCL and Xiaomi are also in the running.
Selling part of Honor to another business theoretically means that US sanctions wouldn’t apply to Honor-branded devices produced as part of this arrangement. It isn’t immediately clear what this would mean for Honor devices released prior to a sale though.
Furthermore, there’s no guarantee that the US government wouldn’t simply play whack-a-mole and apply sanctions to any company that acquires part of Honor. Huawei and Honor are intertwined in several ways, particularly when it comes to components used and research and development. So extricating large chunks of the sub-brand from its parent company will likely be a
Lumileds announced today that Leon Pikaar has been appointed as Vice President and General Manager of its LED Solutions Business Unit. Mr. Pikaar brings more than 30-years of experience in the LED and lighting industry and an extensive tenure at Philips Lighting and Lumileds where he has led international business organizations, strategic accounts, and developed the specialty business in camera flash, display, and UV markets.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005892/en/
Leon Pikaar, Lumileds Vice President LED Solutions Business Unit (Photo: Business Wire)
Mr. Pikaar’s career started at Philips Lighting in The Netherlands. He was soon transferred to Brazil where he became the Regional Manager Latin-America for lamp drivers. In 1999, he joined the team that founded Lumileds as a joint venture between Hewlett Packard and Philips after which he became responsible for sales and marketing of specialty lamps for Philips Lighting in Europe. Prior to his new role, Mr. Pikaar was Head of Marketing for the LED Solutions Business Unit after having served as VP of Sales and Marketing at RayVio, a startup company in UV-B/C LEDs.
“Leon has been at the tip of the spear for Lumileds for more than two decades and I couldn’t be more pleased to have him leading our LED Business Solutions Unit,” said Matt Roney, CEO. “The LED Illumination and Specialty side of our business is in great hands.”
Mr. Pikaar has enjoyed successful overseas assignments, is fluent in multiple languages, and holds a Bachelor’s degree in Mechanical Engineering from Tilburg Polytechnic in The Netherlands.
For automotive, mobile, IoT, and illumination companies that require innovative lighting solutions, Lumileds is a global leader employing more than 7,000 team members operating in over 30 countries. Lumileds partners with its customers to push the boundaries of light.
NBCUniversal ad boss Linda Yaccarino is taking on a larger role within the media conglomerate as global chairman of advertising and partnerships, the company announced on Monday.
The promotion, effective immediately, positions Yaccarino, who has been spearheading an initiative to create a single ad-buying system that spans TV and digital, to unite more parts of NBCU’s ad business.
Yaccarino previously was chairman of advertising and partnerships, managing the media company’s portfolio of linear networks like NBC, digital platforms like Peacock, distribution partnerships, and client relationships.
In her new role, she adds to her purview NBCU’s local ads, company-wide marketing strategies, and a new data-strategy team that she’s charged with building. She continues to report to CEO Jeff Shell.
As part of the change:
- Local ads will be added to One Platform, NBCU’s all-in-one ad-buying system, which Yaccarino leads. The team that sells ads across NBCU’s local-TV stations and regional-sports networks, run by local-sales revenue chief Frank Comerford, will report into Yaccarino.
- Yaccarino will oversee NBCU’s strategic initiatives, led by SVP Kathy Kelly-Brown. That includes NBCU’s Symphony marketing campaigns that rally the company around moments, like Peacock’s debut or the Olympic Games. Under Yaccarino’s oversight, the team will start talks with major advertisers about opening up Symphony, similar to the way it works with a “council” of Peacock sponsors to test ad formats for the streaming service.
- Yaccarino is building a data-strategy unit charged with bringing together research from across the organization to grow the company’s revenue. The team, which will be led by a data chief who has not yet been named, will work on creating unified anonymous identifies for NBCU audiences, using data to scale NBCU’s new shoppable ads, and using research to inform that ad experience, like reimagining what ads look like in movies on Peacock versus TV
BENGALURU (Reuters) – Amazon.com Inc AMZN.O has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.
Amazon will begin its festive season sales on Oct. 17, and has been trying to encourage payments through Amazon Pay with cashbacks and other rewards.
Both Amazon and Flipkart offer deep discounts on everything from clothes, smartphones to home appliances ahead of key Hindu festivals Dussehra and Diwali.
In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.
Amazon, billionaire Mukesh Ambani-led Reliance Industries RELI.NS and Walmart Inc’s WMT.N Flipkart are in a race to gain market share in India’s fast-growing online market for food and groceries.
Oil-to-telecom conglomerate Reliance is also expanding its new commerce venture and has raised 377.19 billion rupees ($5.14 billion) in a month by selling stakes in its retail unit to investors including KKR & Co, private equity firm Silver Lake and Abu Dhabi state fund Mubadala Investment Co.
Meanwhile, this week, Amazon.com Inc sent a legal notice to Future Group, alleging the retailer’s $3.38 billion asset sale to Reliance breached an agreement with the e-commerce giant.
Reporting by Nallur Sethuraman in Bengaluru; Editing by Vinay Dwivedi
IBM, throughout its 109-year history, hasn’t often led technology trends. But it has adapted and eventually prospered time and again.
It is trying to go the adaptation route once again.
IBM on Thursday acknowledged the challenge and embraced the opportunity for the company in the accelerating shift to cloud computing. The company said it was spinning off its legacy technology services business to focus on cloud computing and artificial intelligence.
Arvind Krishna, who became chief executive this year, called the move “a landmark day” for IBM, “redefining the company.”
The split-up strategy reflects how decisively computing has shifted to the cloud. Today, nearly all new software is being created as a cloud service, delivered over the internet from remote data centers. The computing model affords corporate customers more flexibility and cost savings, sold as a pay-for-use service or annual subscriptions.
IBM was late to the cloud market, which was pioneered by Amazon when it began Amazon Web Services in 2006. But IBM in recent years has made a major push into cloud services and software, punctuated by its $34 billion purchase in 2018 of Red Hat, a distributor of open-source software and tools used by cloud developers.
In an interview, Ginni Rometty, IBM’s executive chair and former chief executive, said cloud computing, enhanced by artificial intelligence, “is now IBM’s enduring platform.”
IBM is tailoring its cloud strategy to help corporate customers make the transition to the new technology and thus carve out a fast-growing and healthy business amid the market leaders: Amazon Web Services, Microsoft and Google.
The main business, retaining the IBM name, will be its cloud operations, along with its hardware, software and consulting services units. They represent about three quarters of IBM’s revenue.
The business to be spun off, which is not yet named, is IBM’s basic