Xiaomi expected to go public with $10 billion IPO
If true, this will be 2018’s largest IPO to-date.
Depending on where you live, Xiaomi is either huge in your country or hardly known at all. The 8-year-old company is currently the fifth largest smartphone brand in the world, and according to people familiar with the matter, is expected to go public with an Initial Public Offering (IPO) of 10 billion USD.
Assuming this turns out to be true, this would make Xiaomi’s IPO the largest the world has seen so far in 2018. That may sound like exciting news for potential investors, but the way Xiaomi’s going to handle itself as a public entity could present them with a difficult decision.
The majority of Xiaomi’s earnings will come from software and services — not hardware.
As noted by Radio Free Mobile, Xiaomi will initiate a hardware margin limit of 5%. In other words, Xiaomi plans on earning little-to-no money on hardware and instead will rake in its cash through software and services. Xiaomi’s often credited as being China’s Apple, and while its hardware may take a lot of inspiration from the iPhone, MacBook, etc., this profit strategy is anything but.
Some of the services Xiaomi makes money through include advertising in its apps and paid subscriptions for digital book and video content. The company’s work here shouldn’t be discredited, but purposefully limiting itself to just 5% for hardware sales is an interesting move.
It’s expected that Xiaomi will submit plans for the IPO by the end of this week and go public as early as June, but at this time, the company’s yet to officially comment on any of this speculation. When that happens, we’ll be sure to let you know.
The T-Mobile / Sprint merger could be great for consumers, but it probably won’t be
Atari VCS pre-orders start May 30th, but it won’t ship until 2019
Nearly a year after it was first revealed, retro gaming enthusiasts will finally be able to order the Atari VCS beginning May 30th via an IndieGoGo crowdfunding campaign.
Atari will be offering two versions of the gaming system: a “time-limited” Collector’s Edition featuring the faux wood-front panelling and the $200 Onyx Edition, which is just black. Oddly, it doesn’t appear that either of these options will include a controller as the announcement reads “other packages will include the Classic Joystick and Modern Controller.”
We’re also finally getting a hint at the system’s capabilities. Atari announced on Monday that it has partnered with AMD for the console’s processor. The VCS will support 4K resolutions, HDR and 60fps gameplay. It will offer both internal and external storage, built-in WiFi, USB 3 and Bluetooth 5 capabilities.
The company is still tight-lipped as to what you’ll actually be able to do with the VCS, however. The system will come pre-loaded with Atari Vault, a 100-plus game collection of classic Atari games like Asteroids, Centipede and Missile Command. It will also reportedly be able to support “a full range of popular modern titles” though nobody knows what those will entail as of yet.
After the IndieGoGo campaign has concluded, Atari expects to begin shipping the VCS in the Spring of 2019.
Oculus is bringing live VR theater to your face
When you think about it, VR is ideal for the theatrical world: you’ll always have the best seats in the house, and you can interact with the play without stepping on a stage. And now, Oculus wants to take advantage of that creative freedom. In an interview with CNET, the company’s Yelena Rachitsky revealed that the company is working on an immersive theater format where VR lets you interact with live actors. The concept isn’t strictly new (there have been VR performances before), but Oculus’ approach would maintain that interactivity without being limited to performances that happen in one place.
Oculus hasn’t divulged the inner workings of the format, but it’s currently slated to debut sometime in 2019. It’s probably not going to dissuade you from attending real-world plays, but it doesn’t have to. This is more about enabling theater that would be impractical in real life, and giving you a reason to try VR that sits between passive experiences like movies and the intensity of games.
Source: CNET
Sonos filing hints at upcoming smart home theater speaker
If you’ve been planning on upgrading your home theater, you might want to hold off a little longer. According to a new FCC filing, Sonos could be coming up with a new smart home theater speaker in the near future. Variety reports that the model number has “S14” in the name and, importantly, features a HDMI port.
Sonos’ most recent home theater offering was the Playbase, a soundbar designed to sit directly underneath your TV. Sonos released its flagship soundbar, the Playbar, all the way back in 2013, so it’s definitely time for an update. The FCC filing doesn’t reveal a lot of details, but according to Variety, the speaker in the document is described as a “high-performance all-in-one home theater smart speaker and part of Sonos’ home sound system. This might mean that it’ll have a voice control interface, similar to the Sonos One.
The addition of a HDMI port is a new one for Sonos too. The company’s other soundbars both use optical out for audio, which makes for a simpler setup, but does limit functionality. If the new soundbar supports HDMI 2.1, it would then support lossless audio formats like Dolby Atmos.
Source: Variety
Senate Democrats plan to force vote on net neutrality May 9th
Democrats in Congress have been against the FCC’s repeal of net neutrality rules from the beginning. They’ve had the signatures in favor of restoring the rules since January, along with a companion House bill (with 80 co-sponsors). Senator Edward J. Markey also introduced a formal Congressional Review Act “resolution of disapproval” in February. Now, Markey tweeted that Democrats will force a floor vote restore the rules on May 9th.
Of course, this last-ditch attempt to save net neutrality can only help congressional supporters of as they move into mid-term elections. “We’re in the homestretch in the fight to save net neutrality,” Senator Chuck Schumer said in a statement. “Soon, the American people will know which side their member of Congress is on: fighting for big corporations and ISPs or defending small business owners, entrepreneurs, middle-class families and every-day consumers.”
Still, even if the Senate passes the Democrat’s proposal, notes Politico, it’s unlikely it would get through the House or avoid a Trump veto. A senatorial aide told the site that Democrats are also organizing another day of action in support of net neutrality, as well.
Source: Senator Edward J Markey/Twitter
A fond farewell to our sister sites in Germany and Spain
When I started at Engadget in 2010, I saw the site as an opportunity: a publication with millions of readers that would pay me to write for a living. After months of rigorous training and countless hours spent in IRC with some of the most genuine and intelligent people I’d ever met, I started to see Engadget as a family, a global community of passionate, creative writers and editors who truly care about their audience and their work.
Sadly, the Engadget community is about to get a little bit smaller. Starting tomorrow, Engadget’s German- and Spanish-language sites will cease publication. While we are sad to see them go, this isn’t the end of the road. The writers and editors at both sites will go on to do great things and their archives will live on here at Engadget.com. Engadget.com and our sister sites in China, Japan and the UK will continue to bring you the world’s best technology news and reviews.
I won’t dwell on what brought us here. Instead, I’ll just say thank you. To our readers, our writers, our editors and our friends in Spain and Germany, it has been a wild ride. Your passion and dedication won’t be forgotten.
They say nothing lasts forever, but we’ll always have IRC.
Good luck out there!
Source: Engadget Germany, Engadget Spain
Tumblr and Etsy among those posting ‘red alerts’ for net neutrality
Fight for the Future has announced another day of action aimed at encouraging support of a Congressional vote to overturn the FCC’s removal of net neutrality protections. In December, the FCC voted to overturn Obama-era net neutrality protections, a decision that was published in the Federal Register on February 22nd. The Senate has 60 days from that date to overturn the decision, as per the Congressional Review Act, and Democrats are planning to take the procedural step to force such a vote on May 9th. Between May 9th and the vote, BattleForTheNet.com is calling for websites to “go red” as part of its Red Alert for Net Neutrality Campaign.
Those participating in the Red Alert campaign will post a notice on their websites encouraging visitors to get in touch with their lawmakers. BattleForTheNet.com will supply the code for their red alert, but websites can use their own notices as well. “You don’t have to use our code to participate, but you have to do something epic that gets your visitors attention drives calls and emails to Congress,” says BattleForTheNet.com.
We have the signatures. On May 9th, we officially file the petition to force a vote on the Senate floor to save #NetNeutrality.
#OneMoreVote pic.twitter.com/BvxnTjGwx5— Ed Markey (@SenMarkey) April 30, 2018
BattleForTheNet.com is backed by Fight for the Future, Demand Progress and the Free Press Action Fund and the Red Alert campaign is already supported by Etsy, Tumblr, Postmates, Foursquare, Twilio, Private Internet Access and Gandi.net. Earlier this year, BattleForTheNet.com called for an online day of action as it campaigned to attract one more Senator to join the vote to overturn the FCC’s decision. Currently, all 49 Senate Democrats and one Republican have announced their support for the vote. One more Senator will be needed to overturn the decision in the Senate and move the effort over to the House of Representatives. There, it will need 218 votes to pass — which will be a hard number to achieve — and would then move on to President Trump who could still veto the measure.
“This senate vote will be the most important moment for net neutrality since the FCC repeal. Now is the time to fight,” Evan Greer, deputy director of Fight for the Future, said in a statement. “Every internet user, every startup, every small business — the internet must come together to sound the alarm and save net neutrality.”
Source: Fight for the Future, BattleForTheNet.com
Viacom launches studio dedicated to shows for YouTube and Facebook
Viacom has come a long, long way from the days when online video was seemingly its mortal enemy. The media giant has formally launched Digital Studios, a wing dedicated to (you guessed it) original internet shows. The initial programs in the works are all attached to familiar names like BET, Comedy Central, MTV and Nickelodeon, and will be available across services like Facebook Watch, Instagram, Twitter and YouTube — it won’t just involve the previously unveiled Snapchat plans.
It’s easy to find a few highlights. There’s a BET sketch comedy show on YouTube from Majah Hype (The Majah Hype Show), a Facebook Watch celebrity news riff from Nikki Glaser (You Up? With Nikki Glaser), an extension of Broad City on multiple services (Hack into Broad City), a YouTube companion show for MTV’s Cribs (Cooking in the Crib with Snooki) and a Nickelodeon YouTube series covering a Minecraft tournament (Super League Gaming Minecraft City Champs). All told, Viacom is clearly aiming at a young audience.
You can also expect Twitter-specific news bites from BET, Comedy Central and TV.
Viacom hasn’t outlined release schedules as we write this, and most of these shows aren’t likely to make you ditch conventional TV. Not that the company necessarily minds. This is more about catering to a “mobile-first” audience that rarely if ever sits down to watch on a big screen. Viacom knows it can’t ignore this audience if it wants to stay relevant, and that means offering more than just a handful of material.
Source: Viacom
Facebook data dispute reportedly prompts WhatsApp founder’s exit
WhatsApp’s CEO Jan Koum posted on Facebook that he’s leaving the company he helped found. But sources told The Washington Post that he’s splitting after clashing with the messaging service’s parent company, Facebook, over its desire to use WhatsApp’s user data and weaken its encryption.
Koum sold WhatsApp to Facebook for $19 billion in 2014 but remained committed to ensuring user privacy, and encrypted all conversations on the service in 2016. Last month, amid the furor following the Cambridge Analytica scandal, WhatsApp’s already-departed other cofounder Brian Acton tweeted #deletefacebook, a hashtag advocating leaving the social network for mishandling user data. But sources told The Washington Post that Koum decided to leave prior to the scandal breaking. He will also step down from Facebook’s board of directors, which is notable given that he’s the only founder of a company Facebook acquired to sit on its board.
Facebook declined to comment, but pointed to Koum’s brief post and Facebook CEO Mark Zuckerberg’s comment below it: “Jan: I will miss working so closely with you. I’m grateful for everything you’ve done to help connect the world, and for everything you’ve taught me, including about encryption and its ability to take power from centralized systems and put it back in people’s hands. Those values will always be at the heart of WhatsApp.”
It’s unclear when Koum will leave WhatsApp and Facebook’s board, but the news is auspicious for the social network, which begins its F8 conference tomorrow.
Source: Jan Koum (Facebook), The Washington Post
Chinese authorities claim they can read deleted WeChat messages
China is clearly fond of its far-reaching surveillance, but it’s making some particularly boastful claims. An anti-corruption watchdog in Hefei claimed that a division in a nearby city managed to obtain a “series of deleted WeChat conversations” from one of its suspects. Supposedly, the scrapped chats let investigators question other participants and discipline them. Officials deleted the post on April 29th, but it had already sparked a minor panic on social networks — did this mean the government could dig through your chat history at will?
Not necessarily. WeChat’s creator, Tencent, denied storing or studying any chat histories. Like some other messaging services (such as WhatsApp), messages are supposed to remain solely on your phone or PC. Australia’s military banned WeChat over security fears back in March, but that appears to have stemmed more from solidarity with US policy on Chinese companies instead of specific concerns.
We’d take the claim with a grain of salt. It’s entirely possible that the watchdog was exaggerating its abilities, or misinterpreted its evidence gathering. However, the very fact that people are entertaining the idea speaks volumes about China’s approach to surveillance. It hates the thought that any data might be outside its reach, and it’s willing to go to great lengths to ensure it can collect that data.
Via: The Verge
Source: South China Morning Post
