Nothing confirms layoffs but denies market exit, calls reported figures exaggerated

·1 views

Nothing cofounder Akis Evangelidis confirmed the company is undergoing a reorganization that includes some layoffs, but disputed the scale reported in recent coverage. He described the changes as a consolidation of operations into regional hubs rather than an exit from any markets. Evangelidis also pushed back on claims of poor Phone 4B sales, stating the device sold over 29,500 units on its first day alone. The company additionally announced plans to launch an AI-native business unit as part of the restructuring. The moves come amid broader pressure on consumer electronics firms from rising component costs.

Read the full story at The Verge

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Waymo Considering Ending Its Partnership With Uber Ahead of 2028 Contract Expiry

Autonomous vehicle company Waymo is reportedly considering ending its business relationship with ride-hailing giant Uber. The two companies currently operate under a contract that is set to expire in May 2028. Uber confirmed the contract's end date to TechCrunch, though details on the reasons behind the potential split remain limited. The reported consideration of a breakup signals a possible shift in the robotaxi and ride-hailing landscape.

0 comments Read more at TechCrunch

TechnologyTechCrunch ·

VW Engineers Charged With Insider Trading Using Rivian Joint Venture Data

Two Volkswagen engineers have been indicted on insider trading charges related to their company's joint venture with Rivian. The indictment, unsealed on Friday, alleges the engineers exploited confidential information they had access to through their professional roles. They are accused of using that non-public information to purchase Rivian stock for personal financial gain. The case highlights ongoing regulatory scrutiny around the misuse of privileged corporate information in high-profile industry partnerships.

0 comments Read more at TechCrunch

TechnologyThe Verge ·

Meta bans some Ray-Ban smart glasses footage from its own platforms amid privacy backlash

Meta is facing significant public backlash over its Ray-Ban smart glasses, with critics raising concerns about privacy erosion and increased surveillance. The glasses have been misused by some individuals to secretly film strangers, including women being recorded without consent during unwanted advances. The situation has become severe enough that Meta is reportedly taking the unusual step of banning certain content filmed with the glasses from its own platforms. Business Insider reported this development on Thursday, highlighting the company's struggle to manage harmful use cases tied to its wearable device. The controversy underscores the broader challenge tech companies face when consumer hardware enables covert recording in public spaces.

0 comments Read more at The Verge

TechnologyThe Verge ·

Qualcomm to raise chip prices by double digits from September, hitting smartphone market

Qualcomm has notified customers of a double-digit percentage price increase set to take effect for products shipped after September 1st. The chipmaker cited an inability to absorb rising costs from its own suppliers, driven by ongoing component shortages. Qualcomm stated it had already explored alternative sourcing options before deciding to pass costs on to customers. The price hike is expected to have a broad ripple effect across the technology industry, particularly in the smartphone segment, where Qualcomm chips are widely used.

0 comments Read more at The Verge