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| Welcome to the Inside Tech newsletter! Here are the key headlines for today: - Samsung unveiled its newest foldable smartphones.
- Apple could launch a foldable iPad in 2024.
- X, formerly Twitter, slashes some ad prices as sales decline.
- Major automakers joined forces to build a North American EV charging network.
Beth
p/beth-duckett | |
| 1 | | The news: Samsung on Wednesday launched it latest foldable smartphones, the Galaxy Z Flip 5 and Galaxy Fold 5. Details: The entry Galaxy Z Flip 5 ($1,000) is a clamshell-style folding phone with a larger cover display, "zero gap" hinge, and slimmer design than its predecessor. The Galaxy Fold 5 ($1,800) features a 6.2-inch display that can fold out to a 7.6-inch main screen, along with a brighter display and an under-display front camera. Samsung also introduced new tablets, the Galaxy Tab S9 series, along with two smartwatches, the Watch 6 and Watch 6 Classic. What brands should care: According to Jene Park, a senior analyst at Counterpoint, competition with Apple's iPhone 15 series is unavoidable. Foldable product consumers are growing from early adopters to general users, particularly in China and Western Europe. However, the advanced technology used in foldable displays and hinges significantly increases manufacturing costs, posing a potential price obstacle for consumers. What the numbers say: Foldable phones, or phones that bend in half, remain a niche market, comprising only about 5% of the global premium smartphone market. However, Samsung has taken the lead with around 80% share of global foldable shipments last year. In fiscal 2023, global foldable smartphone shipments are projected to reach 22.7 million units, up about 52% from 14.9 million in 2022, according to Counterpoint. Meanwhile, only about half of U.S. consumers have expressed interest in purchasing a foldable, with the remainder not interested or not sure. 
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| 2 | | Apple is still considering the release of a foldable iPad in the future, according to a DigiTimes report. The idea of a foldable iPad has surfaced multiple times in the past, and analysts speculate that it could potentially be launched in 2024. More: - CCS Insight previously reported that Apple would launch a foldable iPad in 2024 before bringing the technology to iPhones.
- The device, similar to foldable smartphones by Samsung and Google, would have a hinge allowing it to open and close like a book, resulting in a much larger display when unfolded.
- According to analyst Ming-Chi Kuo, the foldable iPad could have a novel design with a lightweight carbon fiber kickstand.
- He said the new model will likely "boost shipments and improve the product mix" for iPads.
Zoom out: - Should it hit the market, the foldable iPad is expected to be positioned above the 12.9-inch iPad Pro, priced at $1,199.
- Google may also launch a foldable Pixel tablet at Google I/O next year.
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| 3 | X, formerly Twitter, is cutting advertising prices by up to 50% to attract advertisers amid declining ad sales. The platform is offering incentives on specific ad formats in the U.S. and U.K., including half-off discounts on video ads next to trending topics in the "Explore" tab until July 31. More: - The goal is to help advertisers reach larger audiences during events like the Women's World Cup.
- Brands may also risk losing their account verification if they fail to meet spending thresholds.
- The thresholds are $1,000 for every 30 days or $6,000 for every 180 days, starting on August 7.
Zoom out: - The company has now rebranded from Twitter to X, with its blue bird logo replaced by a simple "X."
- Under Elon Musk's ownership, X has faced challenges in securing new ad commitments due to concerns about management and content moderation.
- The appointment of new CEO Linda Yaccarino, a former head of advertising at NBCUniversal, has reportedly given advertisers some hope for stability.
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| 4 | | Seven major automakers, including BMW, GM, Honda, and Hyundai announced a $1B joint venture to build at least 30,000 high-speed EV chargers across North America by 2030. The plan would double the current number of fast chargers in the U.S., which stands at about 32,000. More: - The goal is to alleviate concerns about a lack of charging infrastructure, which has been a deterrent for potential electric car buyers.
- The first DC fast chargers are expected to launch in the U.S. in the summer of 2024.
- They will be strategically located along highways, as well as in urban areas and popular travel spots.
- The chargers will support most carmakers' connections, as well as Tesla's standard, which other companies such as Ford plan to adopt by 2025.
- To help bankroll the network's expansion, the partnership aims to secure funding from the National Electric Vehicle Infrastructure Program and other public and private sources.
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| 4 | | The SEC voted 3-2 today to adopt new cybersecurity disclosure rules, requiring public companies to report cyber breaches within four days if deemed significant to investors. Companies must also provide periodic reports on their cyber threat management efforts, among other requirements. More: - The SEC also wants companies to report the timing of cyber attacks and their material impact on the business.
- Companies can delay reporting the breach if it poses a risk to national security or ongoing law enforcement investigations.
- The aim is to help investors deal with increasing cyber attacks' frequency and cost, according to the SEC.
Zoom out: - However, many businesses have opposed the short announcement period, saying four days isn't long enough to mitigate the impacts of cyber attacks.
- The requirement could also risk the revealing of sensitive information to malicious actors through premature public disclosure, they said.
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| 6 | | OpenAI has released its ChatGPT for Android app, two months after its iOS counterpart. The Android app is currently available on the Google Play Store for users in the U.S., India, Bangladesh, and Brazil. More: - OpenAI said it plans to expand availability to other countries within the next week.
- The Android app offers similar functionality as the iOS version, including the ability to use voice requests, export data, and sync chat history across devices.
- ChatGPT Plus subscribers can also switch between GPT-3.5 and GPT-4.
- The app is expected to enhance ChatGPT's accessibility, particularly in countries with a significant Android user base and/or limited PC usage.
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- CD Projekt Red, the video game studio known for "The Witcher" and "Cyberpunk" franchises, is downsizing its workforce by 9%, affecting approximately 100 employees.
- Sotheby's is selling an "ultra-rare" pair of Apple-branded sneakers for $50,000. The custom-made white trainers with the rainbow Apple logo were given to Apple employees at a mid-1990s National Sales Conference.
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 | AI and technology writer | | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at Beth.Duckett@inside.com. | | This newsletter was edited by Eduardo Garcia | |
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