The Chhattisgarh

Tag: revenue

  • Big blow to Twitter, Threads users cross 10 crores

    Microblogging site Twitter’s rival Threads has crossed the mark of 10 crore registered users in less than a week of its launch. In this app of Meta, which runs the social media site Facebook, users can also log in with the details of their Instagram account. It has been introduced as an alternative to services like Twitter. Last week, Threads had its international launch (except the European Union). The number of its users is continuously increasing. A major reason for this is Meta’s link with photo and video sharing service Instagram. Instagram has more than 2.35 billion monthly active users. Twitter is facing tough competition from Threads. Elon Musk, chief of American electric car maker Tesla, took over Twitter last year. Twitter has also accused Meta of stealing its trade secrets. Twitter has also warned of taking legal action against Meta. Semafor’s report quoted a letter sent by Twitter lawyer Alex Spiro to Meta CEO Mark Zuckerberg as saying, “Twitter intends to vigorously enforce its intellectual property rights and demands that Meta’s use of Twitter’s trade secrets or other confidential information should be stopped immediately.” Due to Threads being associated with Instagram, it can take advantage of the already existing large number of users and advertising system. This may result in a reduction in Twitter’s advertising revenue. After Musk’s control over Twitter, some big companies had stopped advertising on Twitter. Musk had said that the decrease in advertisements has had a big impact on Twitter’s revenue. Apart from this, Musk had made major changes in the company. They laid off about half the staff. After this, some journalists had to face strong opposition after their Twitter accounts were banned. Regarding this, the European Union (EU) had warned of imposing restrictions on Twitter. However, Musk later withdrew this decision.

  • Threads becomes the fastest app to reach 100 million users, beats ChatGPT

    Microblogging site Twitter’s rival Threads has crossed 100 million sign-ups within a week of its launch. It has achieved the feat of becoming the fastest growing online platform, surpassing ChatGPT. Meta Platforms, which runs social media site Facebook, launched Threads last week. Regarding this, Mark Zuckerberg, CEO of Meta, said, “This is the demand received by the company and we have not started many promotions for it yet.” The popularity of Threads is increasing rapidly. Many politicians, celebrities and prominent people from other fields have started on this. Analysts believe that Threads can be a big threat for Twitter. Earlier this year, ChatGPT became the fastest growing app. It had crossed the figure of 100 million users within two months of its launch. However, the path will not be easy for Threads. As of July last year, Twitter had about 24 crore active users. Twitter is facing tough competition from Threads. Elon Musk, chief of American electric car maker Tesla, took over Twitter last year. Twitter has also accused Meta of stealing its trade secrets. Twitter has also warned of taking legal action against Meta. Semafor’s report quoted a letter sent by Twitter lawyer Alex Spiro to Meta CEO Mark Zuckerberg as saying, “Twitter intends to vigorously enforce its intellectual property rights and demands that Meta’s use of Twitter’s trade secrets or other confidential information must be stopped immediately.” Due to Meta’s connection with photo and video sharing service Instagram, Threads can take advantage of the already existing large number of users and advertising system. This may result in a reduction in Twitter’s advertising revenue. After Musk’s control over Twitter, some big companies had stopped advertising on Twitter. Musk had said that the decrease in advertisements has had a big impact on Twitter’s revenue. Apart from this, Musk had made major changes in the company. They laid off about half the staff.

  • Lenovo suffered a big blow due to decline in PC sales, 24 percent decline in revenue.

    China’s Lenovo has suffered a major setback due to the decline in demand for personal computers (PC). The company’s revenue declined by 24 percent in the June quarter. The world’s largest PC maker is facing decline in sales for four consecutive quarters. The company’s profit was 14 percent less in the last financial year. Lenovo’s revenue in the June quarter was $12.9 billion. After this the share price of the company has decreased by six percent. There was a significant increase in electronics sales during Corona as customers and companies purchased a large number of PCs to shift to remote work. However, last year the company’s revenue started declining due to decrease in demand due to increase in interest rates and increase in inflation. The pace of recovery in PC demand is weak and many retailers are left with unsold inventory. This has forced PC makers and their suppliers to adjust production volumes and rates. There was a 29 percent decline in global shipments of PC in the first quarter of this year. Due to this, American company Apple, which manufactures Mac computers, suffered a big loss. Market research firm IDC reported that global shipments of PC declined to 5.69 crore units in the first quarter. It was Rs 8.02 crore in the same period last year. In the last quarter of last year, these shipments had declined by 28.1 percent on a year-on-year basis. Apple’s shipments declined the most in the first quarter by about 40.5 percent. The decline in shipments for Dell was 31 percent. Apart from this, Lenovo, Asustek Computer and HP also faced decline in shipments in the first quarter. Apple had said that sales of its Mac computers had increased rapidly during the pandemic due to work from home. There has been a 29 percent decline in value terms in the first quarter on a year-on-year basis. IDC had said, “The decline in demand has given device makers an opportunity to make changes in the supply chain. Many companies are exploring the possibility of increasing production outside China.” There is a possibility of slowdown in the economies of big countries. Financial crisis in some big banks and increase in inflation may hamper growth and investment.