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What's New In the Consumer Tech World Last Week? News That You Should Know (June 2-June 8, 2024)

Lekha Gupta
June 09, 2024

Earlier this week, former President Donald Trump made a surprising move by joining TikTok, the social media platform he once sought to ban. His account has amassed more than 5 million followers, surpassing the Joe Biden campaign’s following.

In a significant shift in the venture capital landscape, U.S. startups are increasingly distancing themselves from Chinese investors. This move comes as firms anticipate a tightening of foreign ownership regulations by U.S. authorities.

The United Arab Emirates is pursuing a strategic partnership with the United States in artificial intelligence (AI), aiming to leverage its petrochemical wealth to emerge as a global AI powerhouse.

Gaming

Adjust’s 2024 Mobile App Trends report shows that mobile games accounted for 49% of the global games market revenue in 2023, totaling $90.4 billion.  The study — which analyzed data from January 2022 to January 2024 — noted a 6% year-over-year increase in in-app revenue for game apps.

The Middle East and North Africa (MENA) and Asia games market experienced a 4.6% increase year-on-year, reaching $85.5 billion in 2023, and is projected to rise to $97.1 billion by 2028.

Take-Two Interactive Software Inc. (NASDAQ:TTWO) is reportedly closing Intercept Games and Roll7, part of a plan to sell or shut down Private Division.

Take-Two Interactive’s Rockstar Games is gearing up for another substantial update to Grand Theft Auto Online, which will be released in June. The June update adds bounty hunting and police missions, plus new content creator features.

Read: Summer Game Fest 2024: Big Reveals, Key Updates — And What’s Off The Table

Sony Group Corp.’s (NYSE:SONY) Naughty Dog, the developer known for The Last of Us and Uncharted franchises, is currently working on “multiple single-player projects”

Sony has announced the upcoming release of a PC adapter for its PlayStation VR 2 (PSVR 2) headset, scheduled for Aug. 7.

Sony PS5 boxes remove the 8K tag, signaling a shift from high-resolution hype. As observed by Digital Foundry’s John Linneman, the new packaging now only shows features like 4K/120 fps and HDR.

Read: Guess How Much This Counter-Strike Skin Just Sold For

Palmer Luckey, the founder of Oculus and Anduril Industries, has made a comeback to the gaming industry with a new product — a pixel-perfect ultrabright magnesium gaming device, which is a modern take on the classic Game Boy, retailing at $199.

Also Read: Paving The Way For Microtransactions? The Sims 4 Introduces Controversial Battle Pass-Style Events

Streaming Platforms, Social Media & Others

Netflix Inc. (NASDAQ:NFLX) has announced the postponement of the highly anticipated boxing match between Mike Tyson and Jake Paul due to the former’s health issues. Also, Netflix announced it would no longer be available on second-generation and third-generation Apple TVs.

Netflix announced a rollout of a new home screen for TV users. The change comes amid the company’s attempts to maximize user engagement on the platform.

Amid the ongoing legal battle with the U.S. government, ByteDance Ltd., the parent company of TikTok, has appointed John Rogovin, the former top lawyer at Warner Bros. Discovery Inc. (NASDAQ:WBD), as its new global general counsel.

Online Marketplace & Others

Alibaba Group Holding Ltd. (NYSE:BABA) is expanding its global reach by launching new services aimed at small businesses in the U.S. and Europe. On Thursday, Alibaba introduced "Alibaba Guaranteed," a service designed to offer more reliable delivery dates, secure payments, and streamlined dispute resolution.

EBay Inc. (NASDAQ:EBAY) is set to stop accepting American Express Co. (NYSE:AXP) cards on its platform due to the “unacceptably high fees” charged by the company.

Also Read: Zara Expands Chinese Live Shopping Model To US, Europe To Boost Sales

Airbus has recently introduced a new drone concept named Wingman, designed to support manned fighter jets in high-risk missions.

Smartphones

Apple Inc.’s (NASDAQ:AAPL) upcoming iPhone 16 Pro is expected to boast the world’s thinnest bezels, outperforming the current record holder, Samsung Galaxy S24, according to a leaker.

Also Read: Apple Could Introduce Passwords App At WWDC 2024 To Challenge 1Password And LastPass

Apple has finally disclosed the minimum period for which it will provide security updates to its iPhones, in compliance with the U.K.'s Product Security and Telecommunications Infrastructure (PSTI) regulation.

Apple has stopped covering hairline cracks on iPhone and Apple Watch displays under its standard warranty. This change will require customers to pay for repairs, a significant shift from the previous policy.

Apple’s upcoming software update, iOS 18, is poised to be “one of the biggest iOS updates — if not the biggest — in the company’s history.”

Also Read: EXCLUSIVE: Apple iPhone A Collector’s Item, New Report Questions Some Sealed Auction Sales: ‘It’s As Important A Technological Advancement As The Airplane Or The Television’

Apple aspires to become China’s sole U.S. streaming service. The company is discussing a deal with Chinese telecom provider China Mobile that could help it tap the latter’s more than 200 million subscriber base.

Also Read: Apple Has 1 Shot To Nail ‘Paradigm Shift’ Opportunity, Change The Way We Engage With AI, Gene Munster Says: ‘If They Miss This They’re In Trouble’

Tech

Qualcomm Inc. (NASDAQ:QCOM) boasts that its new chips will allow customers to operate their laptops extensively without concerns about battery life.

At the Computex technology trade show in Taipei, Advanced Micro Devices (NASDAQ:AMD) CEO Lisa Su introduced the MI325X accelerator, which is expected to be available in the fourth quarter of 2024. The company aims to develop AI chips over the next two years.

Intel Corp. (NASDAQ:INTC) announced new Lunar Lake chips with enhanced AI processors aimed at Copilot+ AI PCs and data center chips to take on Advanced Micro Devices.

Also Read: Ming-Chi Kuo’s Prediction Comes True As Nvidia Surpasses Apple Becoming The Second Most Valuable Company: Strong AI Growth Contrasts ‘Innovation Challenges’ Faced By Consumer Electronics

Adobe Inc’s (NASDAQ:ADBE) recent update to its terms and conditions has caused a backlash from professional users, who are concerned about the company’s rights to access and use their content.

Meta

Meta Platforms, Inc. (NASDAQ:META) has introduced new AI tools for businesses using WhatsApp and has launched the “Meta Verified” badge in four countries.

Meta is enhancing the streaming experience on its Quest VR headsets. Meta’s Quest Browser app will soon support high-quality Netflix streaming, offering a theater-like viewing experience.

Meta has been hit with 11 complaints from the European Union (EU) regarding its proposed use of personal data to train artificial intelligence (AI) models.

Meta’s Yann LeCun has defended the tech giant against social media users’ accusations of using misinformation as a business model to drive engagement.

Elon Musk

Tesla Inc.’s (NASDAQ:TSLA) CEO, Elon Musk, took a swipe at Apple’s co-founder, Steve Jobs, over the company’s reluctance to embrace open-source technologies. Musk expressed his views on X, formerly Twitter, agreeing with a post that suggested Apple could be “light years ahead of their competition” if they had adopted an open-source approach.

Elon Musk-owned X has revamped its content policy to introduce an opt-in mechanism for adult content to prevent users under 18 from accessing it.

X emerged victorious in a legal battle with the Australian government. Australia has decided to drop the case against the social media platform, which was initiated to remove footage of a church stabbing in Sydney.

Elon Musk made headlines on Tuesday when a report surfaced about him redirecting thousands of Nvidia Corporation (NASDAQ:NVDA) chips, initially reserved for the EV giant, to X and xAI. The tech billionaire responded with an explanation for his decision.

Related: Tesla Investor Ross Gerber Thinks Elon Musk’s Decision To Redirect Nvidia AI Chips To X, xAI Is A ‘Weird Excuse’

xAI is planning to construct a supercomputer in Memphis, Tennessee, to bolster its AI development efforts.

Read: ‘Jack In To J**k Off:’ Elon Musk Jokes About Starlink Getting Isolated Amazon Tribe Hooked On Porn And Social Media — But It’s Not All Bad

Artificial Intelligence (AI)

Palantir Technologies Inc. (NYSE:PLTR) hosted its AIPCon 4 and CEO Alex Karp offered insights into the company's AI work, defense spending, and the potential impact of the 2024 election.

Sam Altman-backed Humane Inc. has advised its customers to discontinue using the charging case of its Ai Pin device due to a potential fire hazard.

Taiwan-based Synology Inc. unveiled new data protection and AI-powered surveillance solutions aimed at advanced users, small businesses, and enterprises.

Read: Exclusive: Apple Supplier Behind Supercomputer Donated To OpenAI Predicts AI Server Sales Tripling To $31B Next Year

A former engineer at ChatGPT-parent OpenAIDaniel Kokotajlo, has now revealed why he stepped down. He also expressed a lack of faith in the company’s company’sto artificial general intelligence and raised concerns over the silencing of researchers.

Photo: Shutterstock

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