China's NetEase Games is once again opening new studios, this time around with Blizzard and Riot alum Greg Street (pictured) at the head.
15.10.2023 - 22:09 / wccftech.com
Qualcomm is said to trim its workforce by 2.5 percent, with the layoffs reportedly happening in its Santa Clara and San Diego offices. After previously laying off 415 employees, the chipset manufacturer is being forced to reduce its personnel headcount once more. Industry experts have commented that the comeback mounted by Huawei, along with the failed suppression efforts from the U.S. on China, has affected firms such as Qualcomm, and 2024 is not expected to make things any brighter.
Out of the 1,258 employees, CNBC reports that 1,064 of them stationed at the San Diego office will have their livelihoods cut short, while the Santa Clara region will see 194 jobs eliminated. Both facilities will remain functional, with the job cuts said to come into effect starting December 13. According to Global Times, Qualcomm has denied laying off employees in Shanghai but does mention that some adjustments are in order. The company provided CBNC with the following statement.
“Given the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities. While we are in the process of developing our plans, we currently expect these actions to consist largely of workforce reductions, and in connection with any such actions we would expect to incur significant additional restructuring charges, a substantial portion of which we expect to incur in the fourth quarter of fiscal 2023. We currently anticipate these additional actions to be substantially completed in the first half of fiscal 2024.”
Though waning smartphone demand has had a deleterious effect on Qualcomm’s business, experts have commented that geo-political reasons are responsible for these layoffs, too. With sanctions placed on Chinese firms such as Huawei and ZTE since 2019, it was clear that the U.S. had intentions of suppressing advancements in technology in this region. Unfortunately, those efforts have backfired, with Huawei coming back strongly with its Mate 60 range that features the Kirin 9000S SoC that SMIC locally produced on its 7nm process.
Xiang Ligang, a veteran telecom observer, said that with Huawei’s success now visible in plain sight, it does not need to purchase Qualcomm’s chips, putting a massive dent in the latter’s smartphone chipset and 5G modem business. He also states that Huawei’s resurgence will affect Qualcomm’s market share among other Chinese customers, such as Xiaomi and OPPO.
“Huawei has successfully developed its own smart chips, meaning that there is no need to purchase chips from Qualcomm. Additionally, Huawei's re-entry into the high-end market in China has had an impact on companies like Xiaomi and
China's NetEase Games is once again opening new studios, this time around with Blizzard and Riot alum Greg Street (pictured) at the head.
Apple Inc. Chief Executive Officer Tim Cook sought to assure Wall Street that iPhone demand remains strong in China, where it's grappling with the rise of Huawei Technologies Co. and an increasingly uncertain business environment for US firms.
Qualcomm recently posted its fourth-quarter earnings, and despite a slowing smartphone market, the San Diego firm managed to beat expectations. While the company might have narrowly avoided a pummeling in this three-month period, there are a myriad of challenges that await the chipset maker going into 2024, with Huawei likely on the top of that list. Fortunately, Qualcomm CEO Cristiano Amon stated in the earnings call that these events and the emergence of another player will not affect its relationship with other smartphone brands in China.
Former WoW Lead Systems Designer and Executive Producer at Riot Games Greg Street has officially revealed Fantastic Pixel Castle, his new game studio working on an epic AAA fantasy MMORPG codenamed Ghost! While still very early in development, the studio will be hosting a livestream Q&A on November 8th at 2 pm EST to discuss their game pitch and development philosophy on Twitch.tv/FantasticPixelCastle. Better known to many players by his Blizzard handle Ghostcrawler, announced his intent to form a new entirely remote working games development studio last April. He quickly recruited other talented developers from his past studios, including longtime Blizzard PvP and Lead Combat Designer Brian Holinka.
Kratos Studios, the owner of the IndiGG intellectual property, announced the Kratos Games Network as a program that will allocate grants to new gaming studios in India and other emerging markets.
AMD has released its third quarter financial results. Although the company saw year-on-year growth in revenue, gross profit and earnings per share, the results were not viewed favorably by Wall Street, with AMD shares falling by nearly 5% before recovering later in the trading day. Revenue was up by 4% to $5.8 billion year-on-year, while gross profits rose by 17% to $2.75 billion. The four major Data Center, Client, Gaming and Embedded segments saw a mix of results.
It might be the last day of October, and Halloween, but artificial intelligence stops for no one. In today's big news, Microsoft's enterprise Copilot, the Microsoft 365 AI assistant, will be rolling out to businesses tomorrow, November 1. This tool will enable organizations to automate a number of time-consuming tasks such as summarizing video calls, drafting emails, and more. In other news, Elon Musk will do an interview alongside the UK PM Rishi Sunak. The Tesla CEO will also be participating in the UK AI Summit. This and more in today's AI roundup. Let us take a closer look.
Vampire: The Masquerade Bloodlines 2 (which I'll be calling 'Bloodlines 2' from here on) has had a troubled history. Its initial developer, Hardsuit Labs, fired both the game's lead writer Brian Mitsoda and creative director Ka’ai Cluney in 2020. A senior narrative designer, Cara Ellison, left later that year. Then Hardsuit Labs got booted from the project entirely in 2021.
Yesterday, Canada banned the use of WeChat and Kaspersky's suite of security apps on all government-issued mobile devices. The apps will be uninstalled and any attempt to download them again will be blocked.
The world's auto industry is accelerating in two directions at once. Unless those contradictions are resolved, carmakers risk running themselves off the road.
Competition is intensifying in China's automated-driving scene with the arrival of Jiyue 01, the first electric vehicle from a joint venture between Zhejiang Geely Holding Group Co. and Chinese search and tech giant Baidu Inc.
Tim Cain, one of the lead developers on the first Fallout and the man behind its original design, says he has a secret plan for a sequel that nobody's ever going to see.