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Toyota Lights up Abuja Fair With All-new Camry

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  • Toyota Lights up Abuja Fair With All-new Camry

About two months after creating so much excitement in Lagos with the launch of the eighth generation Camry, Toyota Nigeria Limited last week took the new vehicle to the just concluded Abuja motor show and it expectedly was the cynosure of all eyes.

The Camry Forum was a special event where some select very important personalities were invited to interact with the Managing Director of the TNL, Kunle Ade-Ojo, on the elegant features of the new car.

Apart from the Camry, there were other Toyota models on display at the motor show. The Public Relations Manager of the TNL, Bukunola Ogunnusi, explained that this year’s exhibition provided another opportunity for the company to bring all the Toyota models under one roof for visitors and prospective buyers to have a feel of the auto firm’s superior quality products.

The Camry as a Toyota model has since its first launch to the global market in 1982 remained one of the bestselling family cars on account of its functionality and reliability.

The latest generation of Camry, according to auto analysts, has been made sportier, combining functionality with style, power and comfort.

Ade-Ojo, at the press launch of the vehicle in Lagos had described it as another masterpiece from the stable of Toyota Motor Corporation Japan to the Nigerian automobile market.

Speaking through the TNL’s General Manager, Corporate Services, Mr Bunmi Onafowokan, the TNL MD said the new car had come with upgraded, trendier exterior and spacious interior design, adding that it “will readily arouse in its lovers a driving pleasure unparalleled in its class. Indeed, it is a remarkable package of safety, comfort and performance in equal proportion.”

He also confirmed that the model had “undergone a total transformation and transition, from a proven sedan to one that pushes the boundaries of technology.”

According to him, the Camry as a model has enjoyed a high level of goodwill and acceptance not only for the superior quality engineering behind it but also for its stunning beauty.

The TNL’s Brand Manager, Mr Bayo Olawoyin, said the models being introduced to the Nigerian market, 2.5 litre and 3.5 litre petrol engines, would impress many with their cool features, which were a collection of luxury, high-tech and safety quality.

He said the vehicle had been specially built to offer improved ride control, quietness and an “interior that projects an immediate feeling of excellence on the one hand and a driving experience that everyone appreciates” on the other.

He listed some of the striking features as back monitor with pedestrian detector, intelligent clearance sonar rear cross traffic auto brake, adaptive front lighting system, rear electric sunshade, rear electric reclining seats, electronic parking brake.

The new Camry’s selling points, according to Olawoyin, are found in its leading fuel economy and driving performance; high quality ride; top-class safety performance; and segment leading advanced human machine interface.

Interior

He said the vehicle interior had been redesigned to be roomier especially for the rear occupants to enhance the luxury feel of the vehicle. The seats had also been redesigned to increase comfort for all occupants, he added.

He said, “Camry’s newly developed direct shift eight-speed automatic transmission improves acceleration from a stop, provides a smooth ride even at high speeds and helps enhance fuel efficiency.

“The three distinct available drive modes give you even more control. Sport mode indulges your spirited side with a sharper acceleration feel; Eco mode adjusts throttle input to maximise your efficiency. Normal mode blends fuel economy with performance. Thanks to this choice of drive modes, a perfectly tailored drive arrives with the push of a button.”

Its rear seat can be reclined at the touch of a button, reduced gap between windshield and roof to reduce wind noise; a hood silencer to keep engine noise out of the cabin, rear control panel allows power seat, power sun shade and AC adjustment from the rear cabin of the vehicle.

Engine

The new Camry is said to offer a compelling choice of petrol engines, the all-new 2.5L Dynamic Force four-cylinder and a new 3.5L V6, each delivering a sophisticated blend of performance and efficiency.

Toyota said, “Both engines utilise the D-4S direct-injection system, which selects the optimal injection method based on driving conditions to pack a powerful punch with enhanced fuel economy to boot.

“The new 2.5L engine has improved performance by approximately six per cent over that of the out-gone model.”

Talking about performance, Olawoyin explained that the new Camry’s high efficiency, high-powered next generation Dynamic Force Engine, powerful acceleration and new direct shift 8AT had contributed to the car’s low fuel consumption.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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UK Imposed €132.7 Million of GDPR Fines, more than Germany and Italy Combined

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UK Imposed €132.7 Million of GDPR Fines, more than Germany and Italy Combined

The General Data Protection Regulation (GDPR) continues causing hefty fines and penalties for businesses and organizations across European countries even two years after coming into force.

According to data presented by Buy Shares, the United Kingdom tops the list of the most expensive data breach penalties with €132.7 million in total value of GDPR fines, more than German and Italy combined.

Cumulative Value of GDPR Fines Hit €344 Million, a €119 Million Increase in 2020

The primary reason for such a high cumulative value of GDPR fines in the United Kingdom is the data breach penalty imposed by the UK’s data protection authority, ICO, to Marriott International. In November 2018, the American multinational company was fined with €110.4 million after reporting a cyber incident that exposed nearly 340 million guest records.

Last week, the ICO fined British Airways €22 million for failing to protect the personal and financial details of more than 400,000 of its customers, the second-largest GDPR fine in the United Kingdom. The penalty is considerably smaller than the €204.6 million that the ICO initially said it intended to issue back in 2019 after the Magecart group used card skimming to collect the personal and payment information of British Airways` customers.

Far below the United Kingdom, Germany ranked as the second-leading country in Europe with €61.6 million in the cumulative value of GDPR fines, revealed the GDPR Enforcement Tracker data. On October 1st, 2020, H&M Hennes & Mauritz Online Shop was fined with €35.2 million for the insufficient legal basis for data processing, the severest GDPR penalty in the country.

Italian data protection authority (Garante) imposed €57.3 million worth of GDPR fines so far, ranking in third place among European countries. On January 15th, 2020, telecommunications operator TIM was fined €27.8 million for unlawful data processing, non-compliant aggressive marketing strategy, and invalid collection of consents, the steepest penalty in Italy.

France ranked fourth among the European countries with €51.3 million worth of GDPR fines. Austria, Sweden, and Spain follow, with, €18 million, €7million, and €3.9 million, respectively.

Statistics indicate the cumulative value of GDPR fines and penalties hit over €344 million in October, with almost €119 million worth of new fines imposed in 2020.

Top Five GDPR Penalties Account for 70% of Cumulative Fine Value

Behind Marriott’s €110.4 million worth GDPR fine, Google holds second place on the list of the highest data breach penalties. The US tech giant was fined €50 million by France’s data protection regulator, CNIL, for not providing enough information to users about its data consent policies and control in using their data.

H&M Hennes & Mauritz Online Shop ranked third on this list with €35.2 million worth GDPR fine. Italian telecommunications operator TIM and British Airways round the top five list with €27.8 million and €22 million, respectively.

Statistics show the five biggest data breach penalties cost more than €245 million, or 70% of cumulative GDPR fine value.

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Japan Accounts for 22% Mobile Game Revenue Share Globally from Q1 to Q3 2020

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Japan Mobile Game Revenue Accounts for 22% of Global Revenue in the First Three Quarters

According to the research data analyzed and published by Safe Betting, Japan accounted for 22% of worldwide mobile game revenue during the first nine months of 2020. Between 2014 and 2018, it was the top country globally in terms of mobile game revenue. However, in 2019, the US took over and is still in the lead in 2020.

Based on a report from Statista, revenue from mobile games in Japan is projected to reach $6.85 billion in 2020. While revenue is expected to grow at 4.9% year-over-year (YoY), the number of gamers is set to rise by 5.9% to 34.4 million.

Japanese Publishers Make Up 25% of the Top 20 Revenue Generating Game Publishers Worldwide

During the first nine months of 2020, two of the top 10 publishers worldwide in terms of revenue generation came from Japan. These were Bandai Namco, generating $1.5 billion, and Square Enix with 1.2 billion.

Other Japanese giants were featured among the top 20 grossing mobile game publishers included Sony, Konami and Mixi. They accounted for 25% of the top 20 grossers globally. Japanese publishers were particularly popular at home. In fact, eight of the top 10 revenue generating games from January 1, 2016 to September 30, 2020 came from these publishers.

From Q1 to Q3 2020, the US was the leading country globally in terms of mobile game revenue. It accounted for a 28% share. China was third behind Japan with an 18% market share while South Korea was fourth with 6%.

In terms of international performance, China is taking the limelight with titles like PUBG Mobile. According to Sensor Tower, PUBG Mobile was the top grossing title globally raking in $1.3 billion in H1 2020. The US is, however, expected to maintain its lead up to the end of the year. According to Statista, mobile game revenue in the US is projected to reach $10.73 billion in 2020.

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Again, IBM Revenue Plunges for Third Consecutive Quarter

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IBM Revenue Declined for a Third Straight Quarter in the Third Second Quarter

IBM revenue plunged for a third-straight quarter in the period ended September 30, 2020, according to the latest financial results of the company.

The company’s revenue declined by 2.6 percent year-on-year to $17.6 billion in the quarter, while revenue from IBM Global Business Service declined by 5 percent to $4 billion with Global Technology Services unit recording a 4 percent decline in revenue to $6.5 billion.

Again, the Systems segment that includes mainframe hardware and software experienced a 15 percent decline in revenue to $1.3 billion. The company’s global financing revenue plunged by 20 percent to $273 million.

However, revenue from Cloud and Cognitive Software segment that includes Red Hat rose by 7 percent to $5.6 billion.

The strong performance of our cloud business, led by Red Hat, underscores the growing client adoption of our open hybrid cloud platform,” IBM CEO Arvind Krishna said in a statement. “Separating the managed infrastructure services business creates a market-leading standalone company and further sharpens our focus on IBM’s open hybrid cloud platform and AI capabilities. This will accelerate our growth strategy and better position IBM to seize the $1 trillion hybrid cloud opportunity.

The decline in earnings was in line with the company’s pre-announcement that COVID-19 would impact its overall performance this year.

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