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| Here's a look at today's tech briefing: - FTX founder Sam Bankman-Fried sentenced to 25 years in prison.
- Take-Two Interactive to acquire Gearbox.
- Oregon’s governor signs tough right-to-repair law.
- Apple to unveil new iPads in early May.
Beth
p/beth-duckett | |
| 1 | | A judge today sentenced FTX co-founder Sam Bankman-Fried to 25 years in prison for his role in orchestrating fraud and stealing $8B from customers of his failed cryptocurrency exchange. Prosecutors, who described it as one of the largest financial frauds in U.S. history, had sought a 40 to 50-year prison term for Bankman-Fried. More: - Once a crypto billionaire, Bankman-Fried is accused of diverting billions from FTX customers to bolster his trading firm Alameda, as well as for political donations, real estate investments, charity, and other personal expenses.
- On Thursday, U.S. District Judge Lewis A. Kaplan handed down the sentence in Manhattan federal court, shortly after Bankman-Fried apologized but didn't admit guilt.
- "There is a risk that this man will be in a position to do something very bad in the future," Kaplan said. "And it's not a trivial risk at all."
- The sentencing comes after Bankman-Fried, 32, was found guilty last year on seven counts of fraud and conspiracy related to FTX's collapse and bankruptcy in 2022.
Zoom out: - Bankman-Fried, who argued that customers would be repaid through bankruptcy, denied deliberately committing fraud and claimed his crypto empire was a victim of market downturns.
- His defense team sought a 5 to 6.5-year sentence. They plan to appeal the conviction and sentencing.
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| 2 | | Video game publisher Take-Two Interactive said it will acquire studio Gearbox from Embracer for $460M. Embracer, the troubled Swedish video game giant, is offloading Gearbox at a loss, having bought the gaming studio for $1.3B in 2021. More: - Take-Two, the parent of "Grand Theft Auto" maker Rockstar, will fully own all of Gearbox's franchises, including Borderlands, Duke Nukem, Homeworld, and Risk of Rain.
- Take-Two is purchasing Gearbox Software, Gearbox Montréal, and Gearbox Studio Quebec, while Embracer will maintain ownership of Gearbox Publishing San Francisco, which will undergo a rebranding.
- Gearbox founder and CEO Randy Pitchford will continue to lead the company under Take-Two's 2K label.
- Take-Two already publishes Borderlands games and is working with Gearbox on the next installment.
- Gearbox is also working on at least five other titles and one new IP.
Zoom out: - Embracer has been cutting costs after an expected $2B investment failed last summer. The company has closed studios, laid off 1,400 employees, and canceled dozens of games.
- Last month, Embracer sold a large portion of game developer Saber's assets to Beacon for $500M.
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| 3 | | Oregon Governor Tina Kotek signed the state's right-to-repair act into law, giving consumers access to tools and manuals to self-repair their devices. Oregon joins California, Colorado, Maine, Massachusetts, Minnesota, and New York which have passed similar laws, collectively covering around 70 million people in the U.S. More: - Like other states, Oregon will require product-makers like Apple to open up device tools, parts, and manuals to consumers and third-party repair shops for fixes.
- Oregon's law, effective next year, will be one of the toughest in the U.S., as it bans manufacturers from using "parts pairing."
- The practice effectively blocks third-party repairers from using non-brand parts because of compatibility issues with company software.
- In Oregon, it will be illegal to ban third-party repair shops from installing off-brand parts in devices manufactured after Jan. 1, 2025.
Zoom out: - Oregon's rules only apply to phones sold after July 1, 2021, or other consumer electronics sold after July 1, 2015.
- Apple opposed Oregon's bill, arguing it would compromise consumers' security, safety, and privacy by using parts of unknown origin in devices.
- Alternatively, Google supported the bill, calling it "a compelling model for other states to follow."
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| 4 | | Apple plans to unveil its latest iPad Pro and iPad Air models in early May, sources told Bloomberg. Apple initially targeted a March or early April release but is still completing software updates for the iPads, according to the report. More: - Apple's suppliers are now ramping up production ahead of the launch, which will end the longest stretch of time without new iPad models being released.
- The iPad Air, last updated in 2022, is expected to come in the traditional 10.9-inch size and a new 12.9-inch variant.
- The new iPad Pro, last overhauled in 2018, will be thinner and feature new OLED displays and Apple's upgraded M3 chip.
- The iPad Pro will work with new versions of the Magic Keyboard and Apple Pencil that have been redesigned.
Zoom out: - iPad sales have fallen during Apple's last two fiscal years, with a 29% drop YoY during last year's holiday season.
- Globally, tablet shipments fell 17.4% in Q4 2023, totaling 36.8 million units, marking the largest Q4 decrease since 2016, according to IDC.
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| 5 | | Counterpoint Research predicts a 3% year-on-year rise in global smartphone shipments this year, driven primarily by rising budget and premium phone sales. After a 4% drop in shipments last year, lower inflation and the draw of new generative AI features are expected to drive demand for phones this year, particularly in India, the Middle East, and Africa. 
What the numbers show: The $150-$249 budget phone segment, which saw a dip in 2023, is predicted to bounce back by 11% in 2024, especially in the Caribbean and Latin American regions. Counterpoint predicts the $600-$799 premium segment will also see a growth of 17% this year, driven by the popularity of foldables and new generative AI capabilities in smartphones. Zoom out: According to Counterpoint, Apple and Huawei will power growth in the premium segment, with Apple benefiting from steady iPhone demand in emerging markets like India, the Middle East, and Africa. Huawei is expected to maintain its strong presence in China following the release of its Mate 60 Pro 5G phone last year. In 2023, Apple's market share in China rose to a record 17.3% from 16.8% a year earlier, surpassing local rival Vivo for the first time. However, iPhone sales in China then fell 24% during the first six weeks of 2024 amid tough competition from Huawei, which saw its unit sales surge by 64% during that time. | | | |
| 6 | | Samsung is expanding its suite of AI-powered features, including chat assistance and live phone-call translation, to more smartphones. The capabilities are rolling out to the Galaxy S23 lineup and other models through today's One UI 6.1 software update. More: - The Google-powered features, known as Galaxy AI, were previously exclusive to the Galaxy S24 series.
- They will now be available on older devices like the Galaxy S23 series, Galaxy S23 FE, Galaxy Z Fold 5, Galaxy Z Flip 5, and Galaxy Tab S9.
- The features include Circle to Search, where users can Google search for an item by circling it on the screen, and Chat Assist, which rewrites texts and translates conversations.
- Live Translate offers real-time phone call translation, while Generative Edit allows users to remove or edit objects in photos.
- Samsung aims to bring the features to more than 100 million Galaxy users this year.
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 | AI and technology writer | | Beth is a contributing editor and writer of Inside's AI and Tech newsletters. She has written for publications including USA Today, the Arizona Business Gazette, and The Arizona Republic, where she received recognition with a Pulitzer Prize nomination and a First Amendment Award for collaborative reporting on state pension cost increases. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Beth Duckett | |
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