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Microsoft Unveils New Surface Pro Device

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  • Microsoft Unveils New Surface Pro Device

Microsoft Corp. unveiled a new version of its Surface Pro tablet and laptop combination device with more powerful chips and better battery life, updating an aging product with declining sales that hurt financial results last quarter.

The Redmond, Washington-based company introduced the fifth version of the Surface Pro at an event in Shanghai, the first time it’s held the launch of a major product outside the U.S. Microsoft also announced a version of Windows 10 for use by the Chinese government and state-owned enterprises, ending a standoff over the operating system by meeting the government’s requests for increased security and data control.

Surface Pro is the workhorse of the company’s computer hardware line. It’s the biggest seller among the Surface devices, a category that Microsoft created — the two-in-one, or a tablet with a removable keyboard. Yet Microsoft’s Pro 3 and 4 are aging, and partners like Lenovo Group Ltd. and HP Inc. have come out with their own Windows-based versions, that give Microsoft software revenue but take away hardware sales. Meanwhile Apple’s take on the category, the iPad Pro, has been stealing market share.

Those factors contributed to a 26 percent drop in Surface sales last quarter. The new version should turn that around, said Yusuf Mehdi, who oversees marketing for devices and Windows. The device has 13.5 hours of battery life, a 50 percent improvement over the previous version, and runs Intel Corp.’s faster seventh generation Core chips.

“We have shown it to corporate accounts already and the reaction has been very positive,” he said. “We are optimistic this will get a good start out of the gate.”

The Pro will be available for pre-orders Tuesday starting at $799 and goes on sale June 15, the same day as the Surface Laptop Microsoft announced earlier this month. The device has a new kickstand that lets it fold almost flat to resemble a drafting table, similar to the pricier Surface Studio computer, and the Pro can now be controlled on screen by the Surface Dial device that Microsoft introduced with the Studio.

Custom Windows

Microsoft also announced customers for the Chinese government version of Windows 10, including the Chinese customs agency and the city government of Shanghai. This version of Windows 10 lets the government use its own encryption on its computers. A joint venture in China manages all the system updates and telemetry so no data leaves China, Terry Myerson, Microsoft’s Windows and Devices chief, said in an interview.

The government can also remove features it doesn’t want like the OneDrive file-sharing service, or certain entertainment apps. The software is available only for government use and won’t be sold to any other Chinese customers, Microsoft said.

Operating in China has been something of a minefield for U.S. technology companies. Some are blocked, Microsoft is facing an antimonopoly investigation and in January a law took effect that requires telecommunications and internet companies operating in China to provide law enforcement with technical assistance, including decryption of sensitive user data, in any probe meant “to avert and investigate terrorist activities.”

Myerson said the custom version of Windows fully complies with the company’s values.

“We are aware this could be perceived as a sensitive issue but it’s quite appropriate for a sovereign country, within its own computer system and its own employees to have its own encryption systems,” Myerson said.

Long Negotiations

The product is the result of two years of work by the company and the Chinese government to resolve an impasse in which the government, citing security concerns, has refused to use either Windows 8 or Windows 10, blocking a key source of Chinese revenue for Microsoft.

Microsoft also announced that it’s bringing its full lineup of Surface hardware to the Chinese market. Currently, it only sells the Pro models and the Surface Book laptop in the country.

The company will also show a new Office app that lets a team of users create a digital whiteboard that they can all draw on simultaneously on different machines.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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