Samsung's consolidated revenue for the fourth quarter of 2021 reached 76.57 trillion Korean won (US$63.7 billion), the tech giant has revealed in its latest earnings report. That's a quarterly record high for the company, which says that its revenue growth for the period was driven mainly by the expanded sales of its smartphones, TVs and home appliances. 

Its operating profit of KRW 13.87 trillion (US$11.5 billion) in the quarter ending December 31st, 2021 was lower than the previous quarter's, however, due to the bonuses that it doled out to employees for the season. The company has also reported a new historic revenue high of KRW 279.6 trillion (U$232.5 billion) for all of 2021, along with KRW 51.63 trillion (US$42.9 billion) in operating profits. 

Samsung's memory business, which is typically its biggest moneymaker, has experienced a decline in revenue from the previous quarter due to the global supply chain crisis and a slight drop in prices. Further, while demand for memory products remained strong, the company says it didn't push for sales as aggressively as it usually does after considering its inventory levels and the market outlook. The memory division posted a consolidated revenue of KRW 26.01 trillion (US$21.6 billion) and an operating profit of KRW 8.84 trillion (US$7.35 billion) for the fourth quarter of 2021. In the third quarter, it posted KRW 26.41 trillion (US$21.96 billion) in consolidated revenue and KRW 10.06 trillion (US$8.36 billion) in operating profit. 

Samsung's combined mobile and consumer electronics business, now called Mobile eXperience or MX, has posted KRW 28.95 trillion (US$24 billion) in consolidated revenue and KRW 2.66 trillion (US$2.2 billion) in operating profit. The slight increase in revenue was mainly due to the strong sales of its premium smartphones, namely its foldables and its Galaxy S series devices, as well as its PCs, tablets and wearables during the holiday season. Like in the previous quarter, though, the division's profitability was impacted by Samsung's marketing efforts for its foldables and for the launch of its upcoming models this year. 

Meanwhile, the company's mobile panel business saw an increase in earnings due to solid demand for new smartphones. Losses became larger for Samsung's large panel business, though, due to a decline in pricing for LCDs and the initial costs related to its Quantum Dot displays. Samsung also saw strong sales for its premium and lifestyle TVs, but its visual display business recorded a lower operating profit quarter-on-quarter because of rising material and logistics costs.

For 2022, Samsung expects growth in its memory business from higher server demand and in its display panel business from new smartphone releases. However, the company made it clear in its report that it also expects COVID-related supply issues and other problems to persist and affect its operations. Despite those constraints, it believes its MX business will still deliver revenue and profit growth led by its new flagships and by higher sales of its mass market 5G smartphones. Samsung has an Unpacked event scheduled on February 9th, where it will unveil the next S-series flagship to succeed the Galaxy S21 lineup.

Microsoft's overall business is still going strong, even though it's not seeing the shockingly huge profit growth it saw last year. In its Q2 earnings report today, company reported revenue of $51.7 billion (up 20 percent from last year) with profits of $18.8 billion (up 21 percent). As usual, Microsoft has its unstoppable cloud business to thank, as well as a decent showing from its PC group, Office and other business products. Its Intelligent Cloud business grew by 26 percent, reaching $18.3 billion, while its Productivity and Business group saw revenues increase by 19 percent to reach $15.9 billion.

There weren't any true major weak links this quarter — even Surface revenue, which Microsoft previously expected to dip a bit, grew by 8 percent thanks to strong Surface Laptop sales. Windows OEM revenues also increased by 25 percent, not a huge surprise since the overall PC industry is still going strong. Where the PC business goes, Microsoft's revenues will follow, after all. When it comes to Office, the company says its consumer revenue increased by 15 percent, and that it has reached 56.4 million Microsoft 365 subscribers.

While Microsoft's earnings reports have basically looked the same over the last few years — Cloud good! Revenues grow! — the company's numbers will look a bit different once it finalizes its $68.7 billion acquisition of Activision Blizzard in 2023. At the very least, we'll get to see how much the new Microsoft Gaming division actually helps (or hurts) Microsoft's overall business.

GM and LG are building a third Ultium factory in the US. The $2.6 billion plant in Lansing, Michigan will make batteries for GM’s electric vehicles.

Ultium Cells, a joint venture between the companies, expects to create 1,700 manufacturing jobs at the plant, which is projected to open in late 2024. At full production, Ultium expects the factory to have a battery cell capacity of 50 gigawatt hours, and it will be able to adapt to advancements in materials and tech. Construction is underway on Ultium's other battery manufacturing sites in Tennessee and Ohio.

Ultium's cells can be stacked vertically or horizontally inside battery packs, which allows GM to customize the layout for each vehicle design. Energy options range between 50kWh and 200kWh. GM says Ultium system may deliver a range of 450 miles or more on a single charge and accelerate from zero to 60MPH in three seconds. The company is designing Ultium-powered EVs with fast charging in mind — most of them will have 400-volt battery packs and up to 200 kW fast charging. Electric trucks, meanwhile, will have 800-volt packs with 350kW charging.

The Ultium factory forms part of a new $7 billion investment by GM (the company's largest single outlay to date) in four Michigan sites. The automaker is spending $4 billion to convert a plant in Orion Township, which will become its second US manufacturing location for the Chevrolet Silverado EV and electric GMC Sierra.

Conversion work is underway, and GM expects to start making the electric trucks at the plant in 2024. It expects to retain around 1,000 current jobs and add more than 2,350. Production of the Chevrolet Bolt EV and EUV will continue during the transition. The company projects that it will convert half of its North American assembly capacity to EV production by 2030.

GM is aiming to make more than a million EVs in the US per year by the end of 2025, and today's investment announcement forms a key part of that. The company's also spending more than $510 million to increase production at two sites in the Lansing area, one of which is building the next-gen Chevrolet Traverse and Buick Enclave.

NVIDIA has reportedly made little to no progress in gaining regulatory approval for its $40 billion purchase of ARM and is privately preparing to abandon the deal, according to Bloomberg's sources. Meanwhile, current ARM owner SoftBank is reportedly advancing a program to take ARM public as an alternative to the acquisition, said another person familiar with the matter.

NVIDIA announced the deal in September 2020, with CEO Jensen Huang proclaiming it would "create a company fabulously positioned for the age of AI." ARM's designs are used under license almost universally in smartphones and other mobile devices by companies like Apple, Qualcomm, Microsoft, Samsung, Intel and Amazon. 

A backlash began soon after the announcement. The UK, where ARM is based, launched an antitrust investigation into the acquisition in January 2021, and another security probe last November. In the US, the FTC recently sued to block the purchase over concerns it would "stifle" competition in industries like data centers and car manufacturing. China would also reportedly block the transaction if other regulators don't, Bloomberg's sources say. 

We continue to hold the views expressed in detail in our latest regulatory filings — that this transaction provides an opportunity to accelerate Arm and boost competition and innovation.

Companies like Intel, Amazon and Microsoft have reportedly given regulators enough information to kill the deal, the sources say. They previously argued that NVIDIA can't preserve ARM's independence because it's an ARM client itself. As such, it could also potentially become both a supplier and competitor to ARM licensees. 

Despite the stiff headwinds, both companies maintain that they're still pushing forward. "We continue to hold the views... that this transaction provides an opportunity to accelerate ARM and boost competition and innovation," NVIDIA spokesman Bob Sherbin told Bloomberg. "We remain hopeful that the transaction will be approved," a SoftBank spokesperson added in a statement.

Despite the latter comment, factions at Softbank are reportedly pushing for an ARM IPO as an alternative to the acquisition, particularly while the semiconductor industry is so hot. Others in the company want to continue pursuing the transaction given that NVIDIA's stock price has nearly doubled since it was announced, effectively increasing the transaction price.

The initial agreement expires on September 13th, 2022, but will automatically renew if approvals take longer. NVIDIA predicted that the transaction would close in approximately 18 months — a deadline that now seems unrealistic.

Microsoft just made one of the largest-ever bids for a game studio. The company has announced plans to acquire Activision Blizzard for $95 per share, valuing the all-cash deal at an enormous $68.7 billion. The deal would make the combined entity the "third-largest" game company by revenue, according to Microsoft, and would put titles like Call of Duty and World of Warcraft under the company's wing. Microsoft plans to add Activision Blizzard games to Game Pass as part of the deal.

Developing...

Last June, Alphabet’s self-driving unit worked with J.B. Hunt, a trucking and logistics company, to test its Waymo Via technology in Texas. On Friday, the two announced they’re forming a strategic partnership with the hope of deploying a fully autonomous trucking operation within the state sometime in the next few years. In the immediate future, Waymo and J.B. Hunt say they plan to hold multiple pilots involving Waymo Via. That’s the Waymo Driver-powered unit the Alphabet subsidiary developed for Class 8 trucks. They also plan to complete additional market studies.

The expanded partnership follows a successful first pilot in which Waymo and J.B Hunt said they moved 862,179 lbs of freight without their test trucks speeding or ending up in any accidents. The conclusion they drew at the time was that Waymo Driver was ready to deliver freight on-time and safely. Waymo is just one of a handful of companies working on autonomous trucking technology. A few months before the company completed its June pilot with J.B. Hunt, Aurora, the startup that acquired Uber’s Advanced Technologies Group, announced it was working with Volvo to build fully autonomous semi trucks that would carry cargo across North America.

Spin, the e-scooter-sharing startup Ford acquired back in 2018, is shifting its focus in its quest to profitability and is exiting nearly all open permit markets globally as a result. In a post by company CEO Ben Bear, he said Spin has started winding down its operations in a few markets in the US, as well as in the entirety of Germany and Portugal. The company will also shut down its operations in Spain, which could happen sometime in February 22nd.

Open permit markets are places where multiple scooter companies can run businesses, with no caps on fleet sizes. Bear said they "create an uncertain operating environment" with "race to the bottom pricing." It doesn't sound like Spin has been doing well in those markets — Bear wrote that Spin hasn't been able to offer "the type of reliable high quality service [it] prides [itself] on to its riders and city partners" in those locations — so it has decided to take another path instead. 

Spin expanded its operations after it was acquired by Ford to a bunch of cities in the US and around the world. In 2021, it deployed a new scooter model that's more durable than its previous ones and teamed up with Google to show users the nearest e-bike or e-scooter on Maps. Unfortunately, those weren't enough to prevent this restructuring.

Going forward, Spin will focus on limited vendor markets in the US, Canada and the UK. Specifically, in places where cities and campuses "select partners through a competitive procurement process." Apparently, Spin gets double the revenue in those types of places compared to locations with a free-for-all market. Shifting its focus to those places makes sense in that case, but shutting down locations unfortunately also means that the company is letting personnel go: Its move will affect a quarter of its staff, who'll get severance packages and a stipend.

AMC Networks has acquired anime distributor Sentai. Financial terms of the deal haven’t been disclosed, but the purchase includes Sentai’s Hidive streaming service. It will join AMC’s stable of “targeted” streaming platforms, which already includes services like Shudder, IFC and SundanceTV. As part of the deal, AMC has also picked up Sentai Studios, the Anime Network and the company’s extensive catalog of anime titles. Some of the projects Sentai holds the license to include K-On! from Kyoto Animation and Haikyu!! from Production IG.

The acquisition comes less than a year since Sony completed a $1.175 billion deal to buy Crunchyroll from AT&T. At the time, the company said it would work quickly to create a unified anime subscription service that would feature content from both Funimation, which Sony has owned since 2017, and Crunchyroll. If nothing else, today's deal shows just how big of a business anime has become in the west. 

The European Commission has approved Microsoft’s $19.7 billion bid to buy Nuance Communications. The regulator said on Tuesday the proposed acquisition “would raise no competition concerns” within the European Union. In analyzing the bid, it found that “Microsoft and Nuance offer very different products.” Moreover, it believes the company will continue to face “strong” competition from other firms in the future.

Before today, the US and Australia had both signed off on the purchase, but it’s not yet a done deal. On December 13th, the UK’s Competition and Markets Authority said it would investigate the transaction. With the regulator accepting public comments until January 10th, 2022, it’s unlikely the deal will close by the end of 2021 as Microsoft had said it would when it first announced its intention to buy Nuance. 

Electric vehicle company Nikola will pay $125 million to settle civil charges from the Securities and Exchange Commission of defrauding investors. The company was accused of misleading investors about its in-house production capabilities, technological advancements, reservations and orders, hydrogen production and more.

The SEC accused founder and former CEO Trevor Milton of undertaking "a public relations campaign aimed at inflating and maintaining Nikola’s stock price" through tweets and media appearances before the company had made a commercial product. It said that the company also misled investors by "misrepresenting or omitting material facts" about the hydrogen station at its headquarters, how long it would take to refuel its concept vehicles, the source and cost of power for planned hydrogen production and the risks and benefits of a mooted partnership with a major automaker.

“As the order finds, Nikola Corporation is responsible both for Milton’s allegedly misleading statements and for other alleged deceptions, all of which falsely portrayed the true state of the company’s business and technology,” SEC enforcement director Gurbir S. Grewal said in a statement.

Although Nikola did not admit to or deny the SEC's charges of securities law violations, it agreed to some voluntary undertakings, to pay the penalty and to cease and desist from "future violations of the charged provisions." It will cooperate with ongoing litigation and investigation too.

"We are pleased to bring this chapter to a close as the company has now resolved all government investigations," Nikola said in a statement. "We will continue to execute on our strategy and vision to deliver on our business plan, including delivering trucks to customers, expanding our manufacturing facilities and our sales and service network, and building out our hydrogen infrastructure ecosystem including hydrogen production, distribution and dispensing stations." The company also said it was seeking reimbursement from Milton "for costs and damages in connection with the government and regulatory investigations."

Nikola became a publicly traded company in June 2020 through a special purpose acquisition company (SPAC) deal, which enables companies to bypass the usual process of going public. That September, reports suggested the SEC was looking into Nikola's claims about its electric trucks. Milton, who had stepped down as CEO just before the company went public, resigned as executive chairman a few days after news emerged about the probe.

A grand jury indicted Milton on fraud charges in July 2021. He was accused of lying to investors about “nearly all aspects of the business” to increase Nikola's share price. He denied the charges and is free on bail pending a trial that's scheduled for April. 

Meanwhile, Nikola delivered its first electric trucks to customers last week.