Samsung is set to unveil its highly anticipated ‘Special Edition’ Galaxy Z Fold 6 on October 25th, aiming to regain market share amidst increasing competition from Apple. The new foldable phone boasts a sleek design, larger displays, and potential availability in China, marking a strategic move for Samsung.
Epic Games is aggressively pursuing a larger mobile presence with its new app store, aiming to attract up to 50 third-party titles by the end of 2024 and offering developers a low fee. The move comes after the company’s legal battles with Apple and Google, which led to Epic being banned from their app stores. With a focus on developer support and a reduced royalty rate, Epic is challenging the existing mobile gaming market.
Amazon secured a partial dismissal of the FTC’s antitrust lawsuit, but the agency can still pursue certain claims. The ruling comes amid increasing scrutiny of the company’s business practices and growing competition in the digital advertising space.
India’s newest airline, Shankh Air, has secured approval to operate in the country, aiming to serve underserved regions with limited direct flights. This addition to the market comes amidst a consolidating aviation sector, with major airlines like IndiGo and Air India expanding their reach and smaller airlines facing financial challenges.
The US Department of Justice (DOJ) has filed an antitrust lawsuit against Visa, accusing the payment giant of stifling competition through various anti-competitive practices. The lawsuit alleges that Visa has maintained its market dominance through questionable agreements with card issuers, merchants, and potential competitors, allowing it to collect billions in fees annually. Visa has denied the allegations and plans to vigorously defend itself in court.
DA Davidson analyst Gil Luria downgraded Microsoft’s rating to Neutral, citing increased competition in the AI space and concerns over its premium valuation. Luria noted that Microsoft’s lead in AI, achieved through early investments in OpenAI and Azure, has been challenged by advancements from competitors like Amazon and Google. He expects Microsoft’s margins to decline due to increased data center investments, particularly in Nvidia’s chips, leading to a potential margin drag and the need for significant cost-cutting measures. Luria also pointed to Microsoft’s diminishing lead in GitHub Copilot, highlighting the emergence of alternative solutions from competitors.
The San Francisco City Attorney’s Office has filed for injunctive relief against the Port of Oakland’s (OAK) newly adopted name, which includes a geographic reference to the San Francisco Bay. This move is seen by many as an attempt to stifle competition and limit travel choices for Bay Area residents, effectively positioning San Francisco International Airport (SFO) as the sole airport serving the region. OAK maintains that its name change is meant to enhance traveler awareness and provide more diverse flying options.
The Thermo Fisher Scientific Junior Innovators Challenge (Thermo Fisher JIC), the nation’s premier middle school STEM competition, has announced its 30 finalists. These talented young scientists, engineers, and innovators from 14 states will compete in Washington, D.C., for over $100,000 in awards, showcasing their innovative projects and STEM skills. The event is a testament to the importance of nurturing scientific curiosity and investing in STEM education.
Qualcomm’s antitrust fine levied by the European Union has been slightly reduced by the General Court, but the company remains liable for abusing its market dominance in the early 2010s. The court found that Qualcomm had engaged in predatory pricing to stifle competition, despite the company’s arguments against the fine.
Yelp’s stock took a hit as an analyst from BofA Securities initiated coverage with an Underperform rating, citing declining user base and intense competition from platforms like Google and social media giants. The analyst predicts continued pressure on Yelp’s growth due to shrinking user base and rising competition in the restaurant and retail sector.
