iWorld
Reliance Jio to soon launch 5G services: all you need to know
MUMBAI: After Reliance Jio took lead in revolutionising how people access the internet with 4G network, it is now preparing to upgrade to lightning speed 5G services. According to media reports, the company has upgraded its 4G IP network and started a pre-5G internet service much ahead of its domestic rivals.
While operators in the United States will be among the first to launch 5G commercial services between late 2018 and mid-2019, Jio hopes to launch its trial services later this year. Reliance Industries Limited (RIL) recently claimed to have built a future-ready network which will seamlessly deploy 5G.
The company has already started offering 5G mobile internet services on the same speed level on dry run. However, Jio Network Towers aren’t currently 5G compatible and need to be modified for better functioning.
It is unlikely for a complete rollout before 2020 in India as per government’s assessment which includes auction of spectrum for 5G services, but telcos may opt for a soft launch much sooner than that.
Among Jio’s domestic rivals, Airtel has been testing 5G in Delhi-NCR. To test their preparedness for 5G, Vodafone and Idea are conducting similar MIMO technology-based trial runs.
The leading handset-makers including Samsung, Nokia (HMD), Google Pixel, Xiaomi, LG, Huawei, One Plus Six will most likely announce 5G compatible sets. It is not yet clear if Jio would partner with them. Furthermore, there are reports that Jio might introduce its own 5G handset in the market at a cheaper price.
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iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
