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Xiaomi beats estimates with 21.4% rise in Q4 revenue

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  • Xiamoi’s Revenue hits 85.58 billion yuan, up 21.4% y/y.
  • Net profit reaches 39.47 billion yuan, up 36.6% y/y.
  • Smartphone shipments total 44.1 million units, up 4.4% y/y.

SHANGHAI: Chinese smartphone maker Xiaomi on Tuesday reported a bigger-than-expected 21.4% rise in fourth-quarter revenue, as industry shipments of handsets slowly tick up following a global chip shortage and the peak of the pandemic.

“In 2021 we experienced a very complex situation,” Xiaomi president Wang Xiang said in an earnings call.

“Supply is in a very severe or tight position, and there is a geopolitical impact. However, Xiaomi’s performance has shown we are a resilient company.”

Revenue rose to 85.58 billion yuan ($13.45 billion) in the quarter ended Dec. 31, compared with 70.46 billion yuan in the year earlier period and analyst expectations for 81.80 billion yuan, according to Refinitiv data.

Smartphone shipments rose 4.4% to 44.1 million units in the quarter, Xiaomi said in a statement.

Net income rose 39.6% to 4.47 billion yuan, also above analyst expectations.

In an earnings call, Wang said that ensuring a steady supply of chips was still challenging in the first quarter of 2022, but expected the situation to improve by June.

The company, which gets the vast majority of its revenue from selling mobile handsets, said smartphone revenue rose 18.4% to 50.5 billion yuan ($7.94 billion) in the quarter ended December 31.

Last year, Xiaomi grabbed market share in its home market China away from Huawei, which lost its smartphone momentum after the United States placed export restrictions on its suppliers. But Huawei spinoff Honor came back strong in the second half of 2021, finishing the fourth quarter with a 16% market share in China — the same as Xiaomi — according to data from Canalys.

Xiaomi’s fourth-quarter smartphone shipments in China rose 10%, according to research firm Canalys. Globally, its shipments rose 5%.

Slowing handset demand in China, the company’s largest market, has prompted Xiaomi to look for new opportunities.

The company is slated to invest $10 billion over the next ten years into making electric cars, which it hopes to bring to market by 2024.

The company has also ramped up investments in chips, relasing its first device with a self-developed image signal processor.

Wang said that investments in chips would go into areas “directly related to user experience,” such as fast charging.

Xiaomi has also expanded its brick-and-mortar retail footprint, in hopes of attracting more customers.

Xiaomi reported a 33.5% rise in 2021 revenue, which hit 328.3 billion yuan ($51.59 billion), versus an average analyst estimate of 325.862 billion yuan.

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The first wooden satellite in history launches into space.

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Japanese researchers developed the first wooden satellite in history, which was sent into space Tuesday as a preliminary test of the use of wood in lunar and Mars exploration.

Kyoto University and homebuilder Sumitomo Forestry (1911.T) created LignoSat, which will be launched into orbit approximately 400 kilometres (250 miles) above Earth after being flown to the ISS on a SpaceX mission.

As people investigate space living, the palm-sized LignoSat—named after the Latin word for “wood”—is entrusted with showcasing the renewable material’s cosmic possibilities.

According to astronaut Takao Doi, who has flown on the Space Shuttle and studies human space activities at Kyoto University, “We will be able to build houses, live, and work in space forever with timber, a material we can produce by ourselves.”

Doi’s team chose to create a NASA-certified wooden satellite in order to demonstrate that wood is a space-grade material, with the goal of growing trees and constructing timber dwellings on the moon and Mars in 50 years.

“In the early 1900s, aeroplanes were made of wood,” said Koji Murata, a professor of forest science at Kyoto University. “A wooden satellite should be feasible, too.”

Murata stated that because there is no oxygen or water to rot or inflame wood, it is more resilient in space than it is on Earth.

The researchers claim that a wooden satellite also lessens its final environmental impact.

Re-entering the atmosphere is necessary for decommissioned spacecraft to prevent becoming space trash. Wooden satellites simply burn up with less pollution than conventional metal ones, which produce aluminium oxide particles after re-entry, according to Doi.

“Metal satellites might be banned in the future,” stated Doi. “If we can prove our first wooden satellite works, we want to pitch it to Elon Musk’s SpaceX.”

Industrial use
The researchers conducted a 10-month trial aboard the International Space Station and discovered that honoki, a type of magnolia tree native to Japan and usually used for sword sheaths, is most suitable for spaceships.

LignoSat is constructed from honoki, a traditional Japanese craft manufactured without the use of glue or screws.

After launch, LignoSat will remain in orbit for six months, during which time its electronic components will measure how well wood withstands the harsh conditions of space, where temperatures range from -100 to 100 degrees Celsius every 45 minutes as it circles from darkness to sunlight.

Additionally, LignoSat will measure wood’s capacity to lessen the effects of space radiation on semiconductors, which makes it valuable for uses like building data centres, according to Kenji Kariya, a manager at Sumitomo Forestry Tsukuba Research Institute.

“It may seem outdated, but wood is actually cutting-edge technology as civilisation heads to the moon and Mars,” stated him. “Expansion to space could invigorate the timber industry.”

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SIFC Wants To Promote Innovation In Agriculture: An Agriculture Event With Networking And Exhibitions

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Karachi is the starting point for the two-day international conference on sustainable agriculture.

The conference, organised by exhibitor TV, ripple concept, and the Pakistan Media Development Foundation, is backed by the Green Pakistan Initiative, which has recently achieved significant strides.

Enhancing agricultural productivity with contemporary technology is the goal of this event, which is in line with the Special Investment Facilitation Council’s emphasis on agriculture.

Experts will talk about sustainable techniques and organic farming, and there will be a plenary discussion on the land information and management system.

The event will include exhibits that highlight contemporary methods and technology, giving professionals and stakeholders a place to network.

Sindh and Balochistan’s agriculture departments will display their accomplishments in provincial pavilions. The Bank of Punjab, National Bank of Pakistan, and Saudi-Pak Investment Company are among the sponsors who will help make the event possible.

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Apple provides a $1 million incentive to hack its secret AI cloud.

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A reward of up to $1 million has been offered by the multinational computer giant Apple to anyone who breaches its Private Cloud Compute, which will integrate artificial intelligence (AI) capabilities.

The corporation recently posted a blog post titled “Security research on Private Cloud Compute,” in which it offered a reward to anyone who could find cloud service vulnerabilities that could endanger the service.

The news coincided with Apple’s planned release of iOS 18.1 and Apple Intelligence on iPhones the following week.

For the first time, the update will also bring AI capabilities to the iPhone, such improvements to Siri, the speech assistant.

The tech giant will use its own silicon servers to power the Private Cloud computation, which it describes as “the most advanced security architecture ever deployed for cloud AI compute at scale.”

“We made resources to facilitate this inspection, such as the PCC Virtual Research Environment, available to third-party auditors and a few security researchers in advance in the weeks following our announcement of Apple Intelligence and PCC,” Apple stated in the blog.

The business has extended an invitation to researchers, security experts, and anybody else who wants to pinpoint the platform’s weaknesses.

In addition to giving $1 million for identifying significant vulnerabilities through “remote attack on request data,” the corporation is rewarding anyone who can gain access to sensitive information or user request data outside the boundaries of trust with $250,000.

Apple went on to say, “We will consider any security issue that has a significant impact to PCC for an Apple Security Bounty reward, even if it doesn’t match a published category, because we care deeply about any compromise to user privacy or security.”

It would “consider each report based on the quality of the information provided, the evidence of what can be exploited, and the impact to users,” according to Apple.

Visit the Apple Security Prize page to submit your research and learn more about the project, which is open to anybody interested in participating and winning the prize.

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