Seoul-based startup Coupang is South Korea’s version of Amazon and the country’s biggest e-commerce retailer. Its IPO last week raised $4.6 billion and valued the company at about $85 billion, while its share offering price of $35 rose 41 percent to close the day at $49.25. Although Coupang plans to expand, it will soon face competition from South Korean family-owned conglomerates, called chaebol, which are building their own delivery networks. Another looming problem for Coupang are accusations of poor labor practices. Continue reading South Korean E-Commerce Powerhouse Raises $4.6B in IPO

New York governor Andrew Cuomo gave the okay for movie theaters to open beginning March 5 for a maximum of 50 people per screening, a capacity of 25 percent. This marks the first time that movie theaters there have opened in almost a year. Theaters must use advanced air filtration systems, while attendees are required to wear masks and sit in their assigned seats. State theaters outside New York City have reopened over the last few months based on lower COVID-19 infection numbers. In reaction to the news, AMC Entertainment stock rose 16 percent. Continue reading Cuomo Greenlights March 5 Opening for NYC Movie Theaters

App Annie predicted that mobile game and app spending will have grown 25 percent to $112 billion in 2020. Director of market insights Amir Ghodrati added that the company will likely revise these numbers upwards at the end of December. Both iOS and Android showed record-breaking growth, with 65 percent of spending going to the former and almost 30 percent to the latter. Apple iOS and Google mobile app and game downloads are expected to reach 130 billion in 2020, up 10 percent from 2019. Continue reading App Annie Reports Growth in Mobile Game and App Spending

The world’s fastest supercomputers are ranked twice a year, and Innovative Computing Laboratory director Jack Dongarra, one academic behind the rankings, noted that the Top500 list of the world’s fastest high-performance computing (HPC) systems is showing “flattening performance” due to the slowdown of Moore’s Law. In the most recent ranking, Japan’s Fugaku ARM-based supercomputer set a record of 442 petaflops. In 2021, however, the first exascale — 1,000 petaflops — supercomputers are expected to appear, including one from the Oak Ridge National Laboratory in Tennessee. Continue reading ARM-Based Supercomputer Earns Top Spot in Global Ranking

Last year, the Global Antitrust Institute, part of the Antonin Scalia Law School at George Mason University, organized and paid for a weeklong conference in California for antitrust regulators from 30 foreign countries, including Australia, Brazil, China and Japan. At the conference, these officials attended classes that were described as continuing education to learn more about the economic foundation of competition regulations. According to attendees and critics, however, the message of the conference also benefited Big Tech companies. Continue reading Amazon, Google, Qualcomm Support Global Antitrust Institute

Since China imposed its new national security law in Hong Kong, numerous technology companies — especially startups — are making plans to leave the city, just as it was developing into a significant regional fintech hub. One reason is that clients and suppliers are concerned that their data and Internet services will be under the surveillance of Chinese authorities. While the startups are already packing up, the bigger technology companies, including Facebook, Google and Twitter, are mulling over their next move. Continue reading Security Regulation Causes Tech Firms to Rethink Hong Kong

The U.S. banned use of Huawei Technologies’ 5G gear to slow down China’s dominance in the arena, and yesterday the FCC designated Huawei and ZTE as national security threats. Meanwhile, U.S. ally Japan is trying to avoid conflict with both countries, while purchasing 500,000+ Huawei 5G base stations at a cost of $150 billion to install throughout the country by the end of 2020. Japanese companies such as Murata Manufacturing also purvey 5G components to global tech companies, including those in China. Murata Manufacturing chair Tsuneo Murata noted that 5G is “a very promising market for our parts.” Continue reading China Trades with U.S. Ally Japan as 5G War Gathers Speed

The Trump administration is considering strategies for edging out Huawei and China’s 5G dominance. It has already unsuccessfully urged Cisco Systems to purchase Ericsson or Nokia and reportedly discussed providing those two companies tax breaks and export-bank financing or helping to take one of them private. Also proposed is a plan to support “mix and match” network technology to smooth the path for U.S. startups to develop new 5G technology. Japan’s NTT and NEC are also making a play for a bigger role in 5G. Continue reading U.S. Examines Ways to Compete in 5G, Japan Joins the Race

While the United States and China compete to create the world’s most powerful computers, a Japanese supercomputer, dubbed Fugaku, took first place in Top500’s speed ranking. At the Kobe-based RIKEN Center for Computational Science, Fugaku achieved 2.8 times more calculations per second than the previous speediest system, IBM’s at Oak Ridge National Laboratory in Tennessee. Fugaku, which pushed another IBM computer at Lawrence Livermore National Laboratory in California to third place, is based on ARM chip technology. Continue reading ARM-Based Japanese Supercomputer Now No. 1 on Top500

Yamaha developed its “Remote Cheerer powered by SoundUD” system, an app to let Japanese sports fans in remote locales convey encouragement and displeasure to their teams in an empty stadium. In a recent test, users in a number of locations sent boos and cheers to 58 speakers in the 50,000-seat empty Shizuoka Stadium ECOPA. A Tunisian soccer team did exactly this in 2013, after the Arab Spring made mass gatherings impossible. Their app allowed 93,000 fans to cheer on the players via 40 speakers in the stadium. Continue reading Yamaha Releases Remote Cheering App for Empty Stadiums

As more companies ask employees to work from home due to the global spread of the coronavirus, Google, Microsoft and Zoom have responded by providing their workplace software for free. Microsoft’s Teams saw a 500 percent increase in meetings, calls and conference usage in China since the end of January, and demand is rising in the U.S. as work-from-home policies are instituted. Many Microsoft employees have been instructed to work from home and, last week, their Teams chat volume rose 50 percent, with video/audio meetings up 37 percent from a week earlier. Continue reading Work-at-Home Software on the Rise Amid COVID-19 Concerns

Newzoo reports that, for the first time, eSports revenue will surpass $1 billion this year, even without including broadcasting platform revenues. By revenue, China is the largest market ($385.1 million), with North America coming in second, with $252.8 million. Although Newzoo has been criticized for hyping eSports, the research company said it has re-evaluated the size of the market with better methodologies. It stated that the total global eSports audience will grow to 495 million in 2020. Continue reading Newzoo Predicts Global eSports Revenue to Top $1B in 2020

In March, Japanese wireless company NTT Docomo will debut an 8K VR streaming service that relies on next generation 5G technology for its bandwidth and low latency capabilities. The 8KVR Live service will become part of Docomo’s Shinkansen Live Connect; the name refers to the country’s bullet trains. The new service will enable pay-per-view access to live venues such as concerts. Users with VR headsets and 5G smartphones will be able to watch the live event from a viewing angle of their choosing. Continue reading Docomo to Unveil 8K VR Live for Concerts, Events in March

Bose, which opened its first retail store in 1993, will close its remaining 119 retail stores in Australia, Europe, Japan and North America. The company didn’t reveal how many jobs will be lost due to the closures, but it is believed to be in the hundreds. Bose stated that the move is due to “the dramatic shift to online shopping in specific markets,” and that “approximately 130 stores located in Greater China and the United Arab Emirates; and additional stores in India, Southeast Asia, and South Korea” will remain open. Continue reading As Sales Shift to E-Commerce, Bose Shutters Retail Stores

Several translation gadgets made a showing at CES 2020, among them the Ambassador, released last November from Brooklyn-based Waverly Labs, an over-the-ear gadget aimed at travelers. Pocketalk is a translation device that’s popular in Japan and will soon arrive in the U.S. TranslateLive’s ILA Pro adds a subscription-based service for real-time translation. Langogo Minutes is a device that records up to seven hours of audio and provides written transcripts of what it hears. And the WT2 Plus from Timekettle is a multi-language translator in the form of earbuds. Continue reading Variety of Real-Time Translation Devices Showcased at CES