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LG Electronics posts Q3 sales up 15%, higher operating profit

2017-10-11 10:07:00| Telecompaper Headlines

(Telecompaper) LG Electronics reported higher third-quarter results in its preliminary report. Revenues are expected to grow 15.2 percent year-on-year and 4.6 percent quarter-on-quarter at nearly KRW 15.22 trillion, and the operating profit is expected to jump 82.2 percent year-on-year to KRW 516.1 billion. However, quarter-on-quarter, operating income is expected to plunge 22.3 percent from 664 billion in the second quarter of 2017.

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Alibaba to double R&D spending to USD 15 bln, with eye towards 'moonshot' projects

2017-10-11 09:16:00| Telecompaper Headlines

(Telecompaper) Alibaba said it will be doubling its R&D spend over the coming three years to USD 15 billion in order to develop next-generation technology and explore moonshot projects aimed at upending industries, Bloomberg reported. Alibaba plans to set up seven research labs and hire 100 scientists around the world to push further into artificial intelligence, the Internet of Things and quantum computing, the company said in an emailed statement. Specific fields include machine learning, visual computing and network security.

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Dell unveils new USD 1 bln IoT division

2017-10-11 08:35:00| Telecompaper Headlines

(Telecompaper) Dell Technologies has announced a new Internet of Things (IoT) division designed to integrate existing products and tools across the company and develop new Internet-connected devices and software. To that end, the company revealed plans to spend USD 1 billion on IoT-focused research and development over the next three years. The new division will be led by VMware CTO Ray O'Farrell, and is tasked with orchestrating the development of IoT products and services across the Dell Technologies family, including units such as units such as Dell EMC, VMware, RSA and Pivotal.

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