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Apple Prepares To Launch Low Cost 5G iPhone, iPad In March

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There are indications that American multinational company, Apple Inc. could launch new products as soon as March 8, 2022.

Bloomberg reports that the company plans to announce a new low-cost 5G iPhone and iPad at the event which is likely to be held virtually.

The most recent iPhone low-cost model, the iPhone SE with Apple’s Touch ID fingerprint sensor was introduced in the spring of 2020, and retails for $399. The updated model is likely to have the same design but a faster processor and 5G support.

According to Bloomberg, the new iPad is expected to be an updated version of the iPad Air, which was last updated in October 2020 and currently retails for $599.

It is also said to be powered by the new A15 Bionic chip with 5G connectivity. This chipset is expected to be backed by 3GB of RAM and 128GB of storage space for the base variant.

There are projections that Apple will have a wide range of product updates coming soon, including new iPhones, refreshed AirPods Pro, new Apple Watch Series 8 and SE models, a refreshed MacBook Air, a new iMac and a Mac Pro.

Meanwhile, the company had earlier announced that iOS 14 (iOS and iPad 14.8.1)  users will no longer receive security updates.

Investors King had reported that the iOS 15 is the updated version, having new features for FaceTime calls, tools to reduce distractions, a new notifications experience, total updates for Safari, Weather, and Maps, and more. It also includes new privacy controls in Siri, Mail, and more places across the system to further protect user information.

However, during the launch of iOS 15 in September 2021, Apple had assured users that the iOS 15 is compatible with every iOS 14 device. This gave the impression that both versions, depending on whichever a user chooses, can be used.

Apple is the largest information technology company by revenue (totalling $365.8 billion in 2021). As of January 2021, it is the world’s most valuable company, the fourth largest personal computer vendor  by unit sales and second largest mobile phone manufacturer.

It is one of the Big Five  American information technology companies, alongside Alphabet (Google), Amazon, Meta (Facebook) and Microsoft.

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EU Raises Tariff on Chinese Electric Vehicles by 35%

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Electric car

In an effort to slow down Chinese infiltration of the European market with more affordable options, the European Union has hiked tariffs on electric vehicles from China by 35% to 45% from the usual 10%.

According to people familiar with the situation, ten member states voted in support of the new tariff while Germany and four others voted against it. The remaining 12 states reportedly abstained.

Last month, the former European Central Bank President Mario Draghi warned that Chinese state-sponsored competition was a threat to the European Union and could leave the region vulnerable to coercion.

The bloc had claimed that China unfairly subsidized its industry to have an edge over EU businesses, a claim Beijing denies and has threatened retaliatory action on European dairy, brandy, pork and automobile sectors.

However, given the size of trade between the bloc and China, €739 billion or $815 billion in last year, it’s believed the two parties will continue negotiations to find an alternative to the tariffs.

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OpenAI’s Valuation Soars to $157 Billion After $6.6 Billion Funding Round

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OpenAI, the company that owns Chatgpt, has raised $6.6 billion in a new funding round to boost the company’s valuation to $157 billion as it looks to strengthen its lead in generative AI technology.

Thrive Capital led the funding round with $1.3 billion, while Microsoft invested an additional $750 million, bringing its total investment in OpenAI to $13.75 billion.

According to a source familiar with the matter, Khosla Ventures, Fidelity Management & Research Co., and Nvidia Corp., the chipmaker whose powerful processors are driving the AI boom—were also among the investors.

Apart from Elon Musk’s SpaceX and TikTok owner ByteDance Ltd, this deal ranks as one of the largest-ever private investments.

The ability of OpenAI to raise such a substantial amount despite heightened global risks demonstrates the industry’s confidence in the power of AI.

Other investors included Tiger Global Management, which contributed $350 million, and Altimeter Capital, which invested at least $250 million.

SoftBank Group Corp. and the new Abu Dhabi-based tech investment firm MGX also participated, with SoftBank’s investment totaling $500 million, according to one source who requested anonymity. Venture firm Coatue was another participant.

In a statement, the company said it plans to use the funds to advance AI research and expand its computing capacity. “AI is already personalizing learning, accelerating healthcare breakthroughs, and driving productivity,” said OpenAI Chief Financial Officer Sarah Friar. “And this is just the start.”

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Kazang Pay Launches Card Acquiring Service in Zambia

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Kazang, the prepaid value-added services (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for merchants in Zambia. Kazang Pay makes it affordable for merchants to accept card payments on the same Kazang terminal they use to sell prepaid products and services.

The Kazang Pay enabled terminal in Zambia accepts VISA debit and credit cards as well as mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day. It’s as easy as letting the customer tap or insert their bank card and enter their PIN on the secure scramble PIN pad.

Kazang operates around 12,000 VAS terminals in Zambia. The goal is to enable the majority to accept card payments over the next six months. Benefits to merchants include low transaction fees and no monthly terminal rental fee for those that meet a modest monthly transaction threshold as well as the opportunity to grow their business through card acceptance.

Kazang is Zambia’s largest VAS point-of-sale terminal provider, enabling mobile money payments, bank and mobile money cash in and out, bill payments, airtime, Zesco, and many other prepaid services on one platform. The addition of card acceptance makes the platform even more comprehensive for merchants and consumers alike.

The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.  In Zambia, there are around 3.8 million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place. The value of POS transactions has grown to K 111.4 billion by 2022 from less than K 20 billion in 2018, according to the Bank of Zambia.

Says Leon de Wit, managing director at Kazang Zambia: “Zambia has made enormous strides in terms of financial inclusion, with card usage and penetration growing at a rapid pace. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending of VAS products.

“Card transactions help merchants to grow basket sizes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash. Moving towards digitalised payments will also enable merchants to track sales, manage cash flow,  and create a footprint that could make it easier for them to access loans.”

Ashley Naidoo, director of Kazang Pay in South Africa says: “Our Zambian merchants have eagerly embraced our card acquiring service as a valuable part of our one-stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much-improved merchant retention and with our card acquiring solution we now appeal to a broader merchant base.”

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