Personal attacks continue: Full text of Vishal Sikka’s resignation letter

” The distractions that we have seen, the constant drumbeat of the same issues over and over again, while ignoring and undermining the good work that has been done, take the excitement and passion out

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Vishal Sikka has resigned as managing director and chief executive of Infosys with immediate effect.

U B Pravin Rao has been appointed as interim-managing director and chief executive, India’s no. 2 software services exporter said in a statement.

Sikka has now been appointed as executive vice-chairman.

Here’s the full text of Vishal Sikka’s resignation letter.

Over the last few days, since our earlier call, I’ve met Sesh several times, talked to you individually at length, and spent time thinking things thru with Vandana. During this time, one of our employees, Sandeep Karamongikar, died in his sleep, likely of a massive heart attack. He was working on the chatbot frontend in Nia. Also over the weekend, in possibly the greatest demonstration of AI capability ever, a bot built by the researchers at OpenAI (yes, that OpenAI), defeated the world’s best players of DOTA2, a multiplayer online video game, a game where the bot learned to play entirely from scratch. Further demonstrating that the force to automate routine, even advanced, activities is an unstoppable and exponential one. And the Charlottesville incident here in the US demonstrated once again the power of words and silences to cause real damage, or to heal. Read More

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Vishal Sikka quits as Infosys CEO, citing distractions and personal attacks

Vishal Sikka quits as Infosys CEO: Hits and misses of his 3-year journey

Vishal Sikka resigns as MD & CEO of Infosys with immediate effect

Amazon Great Indian Sale: 50% off on smartphones, home appliances, fashion

Amazon Great Indian sale starts from August 9 and will go on till August 12. Know latest offers

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The season of the online sale is back and it’s time to lighten your pockets once more. Starting from tomorrow, the sale will go on until August 12. Amazon will be offering discounts on smartphones and mobile accessories. The Amazon Great Indian sale will feature deals offered by thousands of sellers and brands on select products. Users on the Amazon app as well as the web will have access to it.

Amazon Great Indian sale – Smartphone offers

In the Amazon Great Indian Sale, customers can get 40 per cent off on mobiles and accessories which would also include up to 35 per cent discount on iPhones. Amazon will be offering discounts on smartphones and mobile accessories, and the list of devices includes Apple’s iPhone 7, 7 Plus, iPhone 6s, iPhone 6, along with OnePlus 3T, Lenovo, Moto, Samsung, Honor, Coolpad devices. There will be discounts of up to 75 percent off on software products, up to 50 per cent off on home entertainment products and PC accessories, up to 45 per cent off on tablets and cameras, and up to 35 per cent off on printers and cartridges.

Here’s a quick look at the top deals on Amazon Great India Sale

Apple iPhone: If you’re looking to buy an iPhone, the coming few days will be a good time to consider one. Apple iPhone 6 with 32GB storage is currently on a discount of eight per cent on Amazon India available at a price of Rs 26,899. Flipkart plans to reveal a special price for same phone as part of its Big Freedom Sale. Apple’s older iPhone 5s with 16GB on board storage is retailing at Rs 16,899 for those looking to get an iPhone under Rs 20,000. Read More

Also Read : Latest Current Affairs

 

Note 7 fiasco could burn a $17 billion hole in Samsung accounts

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Samsung Electronics’ worst-ever recall could cost the company as much as $17 billion after it halted sales of its flagship Galaxy Note 7 for a second time, spelling an almost certain end for the ill-fated premium model.

Samsung announced the recall of 2.5 million Note 7s in early September following numerous reports of the phones catching fire and on Tuesday the crisis deepened: The company told mobile carriers to stop sales or exchange of the $882 device and asked users to shut off their phones while it investigated new reports of fires in replacement Note 7s.

As the world’s top-selling smartphone company awaits results of probe by US safety regulators, some investors and analysts predict Samsung may scrap the Note 7 and move on to successor models to limit the financial and reputational damage.

“In the worst case scenario, the US could conclude the product is fundamentally flawed and ban sales of the device,” said Song Myung-sub, an analyst at HI Investment Securities.

If Samsung stops selling the Note 7s, that will translate into lost sales of up to 19 million phones that the firm was expected to generate during the Note 7’s product cycle, according to analysts.

That would equate to nearly $17 billion in lost revenue, based on a Reuters calculation of the cost of the phones.

That’s a big increase from $5 billion in missed sales and recall costs analysts initially executed Samsung to incur under the assumption that the firm would resume global Note 7 sales in the fourth quarter.

Chances of that now look slim. South Korea’s Hankyoreh newspaper, citing unnamed sources, said on Tuesday Samsung will likely stop Note 7 sales permanently. Samsung did not comment on the report.

“This has probably killed the Note 7 brand name,” said Edward Snyder, the managing director of Charter Equity Research.

“By the time they fix the problem they have to go through re-certification and re-qualification and… read full story

Ford shuts Mustang factory for a week after sales plunge

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Ford Motor is shutting its Mustang factory in Michigan for a week after the iconic sports car suffered a 32 per cent sales decline in the US last month and was outsold by the Chevrolet Camaro for the first time in almost two years.

The second-largest US automaker idled the factory in Flat Rock, south of Detroit, to match production capacity with demand, Kelli Felker, a company spokeswoman, said in an e-mailed statement. The plant, which employs 3,702 workers and makes Mustangs and Lincoln Continentals, will resume production October 17, Felker said. Under the automaker’s labor agreement, workers will be paid during the shutdown.

The idling may be a sign of the growing weakness of the US auto market, which had been a leading driver of economic growth. Automakers’ monthly sales have been coming up short – though they beat expectations in September – and many analysts are now predicting the US auto industry won’t match last year’s record of 17.5 million cars and light trucks.

Mustang, which is among Ford’s most storied nameplates, received a racy redesign two years ago on the car’s 50th anniversary. That new look helped propel the Mustang past the Camaro in 2015 to regain its title as the top-selling sports car in America, which it had held for decades before General Motors redesigned the Camaro in 2010.

Camaro overtook Mustang last month for the first time since October 2014 on the strength of incentives that more than tripled last month to $3,409 per car, compared with an average discount of $2,602 on the Ford pony car, according to data from researcher JD Power obtained by Bloomberg.

“In terms of incentives, we’re always going to be disciplined, but we’ll be competitive as well,” Erich Merkle, Ford’s sales analyst, said in an interview. Ford has sold 87,258 Mustangs in the US this year, down 9.3 per cent, while GM had Camaro sales of 54,535, off 11 per cent, according to researcher Autodata Ford Chief Executive Officer Mark Fields has said the US auto market has plateaued and that showroom sales are weakening.

Ford began selling Mustang globally last year, and the factory produces… read full story

Samsung scraps Galaxy Note 7

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Samsung Electronics Co Ltd scrapped its flagship Galaxy Note 7 smartphone on Tuesday less than two months after its launch, dealing a huge blow to its reputation and outlook after failing to resolve safety concerns.

Samsung announced the recall of 2.5 million Note 7s in early September following numerous reports of the phones catching fire and on Tuesday it finally pulled the plug on the $882 device in what could be one of the costliest product safety failures in tech history.

The decision to scrap the Note 7 came after fresh reports of fires in replacement devices prompted new warnings from regulators, phone carriers and airlines.

“(We) have decided to halt production and sales of the Galaxy Note 7 in order to consider our consumers’ safety first and foremost,” the South Korean firm said in a filing to the Seoul stock exchange.

Samsung said earlier it asked all global carriers to stop sales of the Note 7s and the exchange of original devices for replacements, while it worked with regulators to investigate the problem. The company is offering to exchange Note 7s for other products or refund them.

Samsung’s decision to pull Note 7s off the shelves not only raises fresh doubts about the firm’s quality control but could result in huge financial and reputational costs.

Analysts say a permanent end to Note 7 sales could cost Samsung up to $17 billion and tarnish its other phone products in the minds of consumers and carriers.

Investors wiped nearly $20 billion off Samsung Electronics’ market value on Tuesday as its shares closed down 8 per cent, their biggest daily percentage decline since 2008.

A TIMELINE OF THE TECH GIANT’S WORST-EVER RECALL CRISIS
Aug 2: Samsung launches Galaxy Note 7 at a New York media event
Aug 19: Samsung starts Galaxy Note 7 sales in 10 markets, including United States and South Korea
Aug 24: Report of a Note 7 explosion surfaces in South Korea
Sep 1: Samsung starts Galaxy Note 7 sales in China
Sep 2: Samsung announces global recall of 2.5 million Note 7 phones, citing faulty batteries
Sep 8: US Federal Aviation Administration advises passengers to not turn on or charge Note 7 smartphones aboard aircraft or stow them in plane cargo
Sep 9: US Consumer Product Safety Commission urges Galaxy Note 7 users to stop using their phone
Sep 15: US Consumer Product Safety Commission formally announces recall of about 1 million Note 7 phones
Sep 16: Florida man sues Samsung for burns from Note 7 explosion. Samsung says to resume Note 7 sales in South Korea on September 28
Sep 19: Samsung says a Note 7 phone a China user claims caught on fire was caused by external heating
Sep 21: Verizon Communications, Sprint Corp begin taking orders for new Note 7s
Sep 29: Samsung says more than 1 million people globally now using Note 7s with safe battery
Oct 6: A Southwest Airlines plane in the United States evacuated due to smoke from a Note 7 device on board
Oct 10: Samsung says it is adjusting Note 7 shipments for inspections, quality control due to more phones catching fire
Oct 11: Samsung scraps Note 7 production

The premium device, launched in August, was supposed to… read full story

Snapchat planning $25 billion IPO

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Snap Inc – the parent company of popular photo-sharing messaging service Snapchat – is considering an initial public offering (IPO) that can value the company at $25 billion or more, media reported on Friday.

According to Wall Street Journal, Snap Inc is looking to sell shares as early as late March 2017.

The IPO would be the largest by any technology company after Chinese e-commerce giant Alibaba Group that went public in 2014 and raised $21.8 billion for the company and investors.

Snap Inc’s worth reached nearly $18 billion in May.
“Last month (September), Snapchat rolled out three new targeting options, such as a feature where marketers can take their existing list of email addresses and anonymously match that with Snapchat’s own data. Marketers can also push ads to people who watch certain types of videos, like sports,” WSJ reported.

Snapchat is also reportedly set to enter the augmented reality (AR) field.
It has joined the Bluetooth Special Interest Group (SIG) which maintains the Bluetooth wireless standard. Joining this group is a necessary prerequisite for firms that want to employ Bluetooth in any hardware devices.

According to Financial Times, the Snapchat move to switch from software to hardware fuels speculation that it is working on AR wearable devices (like Google Glass). Snapchat has also acquired start-up Vergence Labs that was developing a headset similar to Google Glass. Snapchat currently has 150 million daily active users.

Apple bids goodbye to third-generation Apple TV

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Apple has reportedly bid goodbye to its third-gen Apple TV, shifting its focus on the new fourth-gen model, media reported on Thursday.
According to 9to5mac.com, in an email sent out to employees and education partners, Apple said that it is discontinuing the device.

 “The third-gen model was introduced in 2012 and was quietly updated a year later. Since then, Apple has shifted its focus to the tvOS-powered fourth-gen Apple TV,” the report said. Apple, however, said it will fulfill order backlog for the device.

The company is currently selling refurbished models of third-gen Apple TV for $59.
Once the refurbished models disappear, “Apple will seemingly have stopped sales of the third-gen Apple TV all together,” the report added.

Also read : Apple offers free app to teach children coding

It is also not clear if third-gen Apple TV will receive any additional software updates.
According to Apple website, every Apple TV comes with complimentary telephone technical support within 90 days of its purchase. In addition, Apple TV and all accessories are covered against defects for one year from the original purchase date by a limited hardware warranty.