LG remains confident that it can turn the corner for its serially unprofitable mobile business despite the division racking up a loss of over $400 million this year so far.
The Korean company as a whole is having a good year. Following a record six months of profit and revenue in the first half of 2018, the group saw Q3 revenue jump 2.7 percent sequentially to reach 15.43 trillion KRW, or $13.76 billion. Operating profit rose by 45 percent year-on-year to reach 748.8 billion KRW, that’s $667.7 million.
The company’s home entertainment business is the standout performer generating total sales of 3.71 trillion RKW ($3.31 billion) and a 325.1 billion KRW ($289.9 million) profit, with LG Mobile second in terms of revenue. But, the mobile division continues to bleed cash. This time around in Q3, its losses were 146.3 billion RKW, that’s $130.5 million.
That betters large losses for Q3 2016 and 2017 — 436.4 billion KRW and 436.4 billion KRW, respectively — but it means that LG’s mobile division has lost the company $410 million in 2018 so far. But, as the chart below shows, LG has a long way to go before its mobile business stops hurting the group’s overall bottom line and restricting its otherwise impressive growth as a company.
The company played up its performance with a claim that it had weathered challenging global markets — where Chinese brands are competing hard and mobile saturation is weakening consumer demand — by “significantly reduced its operating deficit as a direct result of its business plan and its stronger focus on mid-range products.”
LG recently outed its new V40 ThinQ, a flagship smartphone that packs no fewer than five cameras, and it is optimistic that its launch will boost sales in the final quarter of the year. More widely, it said that the cost-cutting strategy implemented with the appointment of new LG Mobile CEO Hwang Jeong-hwan last November will see it continue to “consolidate and implement a more profitable foundation.”
That strategy has focused around mid-range devices and emerging markets, where LG believes it can offer strong value for money that’ll appeal to consumers in the market for a deal. That explains why mobile division sales are down this year but, crucially, the division is bleeding less capital. Whilst that strategy has helped stem losses, it remains to be seen whether it is the right one to turn the unit profitable.
Google consolidates its Chrome and Android password managers – TechCrunch
Google today announced an update to its password manager that will finally introduce a consistent look-and-feel across the service’s Chrome and Android implementations. Users will soon see a new unified user experience that will automatically group multiple passwords for the same sites or apps together, as well as a new shortcut on the Android home screen to get access to these passwords.
In addition to this, Google is also now adding a new password-related feature to Chrome on iOS, which can now generate strong passwords for you (once you set Chrome as an autofill provider).
Meanwhile, on Android, Google’s password check can now also flag weak and re-used passwords and help you to automatically change them, while Chrome users across platforms will now see compromised password warnings.
With this release today, Google will now also finally let you manually add passwords to its passwords manager (“due to popular demand,” Google says) and the company is bringing Touch-to-Login to Chrome on Android to log you in to supported sites with a single tap.
TaskHuman lands $20M to expand its virtual coaching platform – TechCrunch
TaskHuman, a professional development platform focused on coaching, today announced that it raised $20 million in Series B funding led by Madrona with participation from Impact Venture Capital, RingCentral Ventures, Sure Ventures, USVP, Gaingels, PeopleTech Angels, Propel(x) and Zoom Ventures. The latest infusion brings the company’s total raised to $35 million, which CEO Ravi Swaminathan said is being put toward product development, marketing and sales efforts.
Swaminathan and Daniel Mazzella co-founded TaskHuman in 2017, with the goal of connecting users with specialists on topics related to their personal and professional lives. Swaminathan was previously a program and logistics manager at Dell and VP of software solutions at SanDisk, while Mazzella was a system admin at Stamps.com. The two met at Wizr, a startup developing AI systems to analyze security camera footage.
“When it comes to learning and personal development, no amount of generic articles or watching pre-recorded videos [can replace] a real person with experience in a given area. Creating TaskHuman was our response to solve this challenge,” Swaminathan told TechCrunch in an email Q&A. “We started by offering foundational needs, including health and wellness, physical fitness, mental, spiritual, emotional wellbeing, and more. Since then, we’ve continued to expand and support the entire needs of an individual for personal and professional growth, like financial wellbeing, sales and leadership coaching, pet training, travel planning, and more.”
TaskHuman users connect with experts over live video chats. The company claims to have a network of over 1,000 “coaches” across nearly 50 countries, each specializing in distinctive areas. An AI-powered search feature lets users search for topics and coaches in natural language (e.g., “I want to lose weight”), while a recommendation engine attempts to personalize the browsing experience by suggesting, for example, similar coaches based on past sessions.
“TaskHuman has a direct relationship with each coach, and we pay them according to the terms of our relationship for their coaching contributions. They are all contractors globally,” Swaminathan said, when asked about the coaching payment structure.
Users can buy access to the TaskHuman network with “TaskHuman minutes,” which can be applied to a chat session with any specialist or topic, Swaminathan says. Alternatively, companies can subscribe to TaskHuman to offer unlimited access to their employees as well as in-app content and group sessions.
Swaminathan makes the case that the enterprise in particular stands to benefit from TaskHuman’s platform. It’s true that corporate training programs tend to be a mixed bag, with only 25% of respondents to a McKinsey survey saying that their company’s training improved their job performance. According to another survey, 75% of managers were dissatisfied with their company’s learning and development function in 2019.
“At the board and C-suite level, many companies view insufficient attention to employee well-being as a threat to productivity and, conversely, a strong commitment to each worker’s physical, mental, and spiritual prosperity as a competitive advantage for recruiting and retaining talent in a time of labor shortages and the ‘Great Resignation,’” Swaminathan said. “From case studies, we have found return on investment in four main areas: preventing burnout, reducing employee attrition, improving employee engagement and recruitment, and reducing medical cost claims.”
Competition in the crowded e-learning field spans BetterUp, CoachHub and Torch. Swaminathan argues that his company’s offering is broader in scope, however, and offers superior access to specialists because it doesn’t require scheduling sessions in advance.
“We have found that the pandemic really allowed people to go beyond their comfort zones and embrace video technologies like TaskHuman, Zoom, RingCentral, and others,” Swaminathan said. “We feel a need to accelerate our mission during these difficult times to help people in both their personal and professional lives, and we feel an urgency to combat the current mental health crisis and Great Resignation culture by fulfilling the dire craving for 1:1, personalized engagement for personal and professional growth.”
Certainly, TaskHuman has benefited from the pandemic, which spurred coaches of all types to move online. According to a 2021 survey by the International Coaching Federation, 83% of coaches increased their use of audio-video platforms for coaching during the health crisis while 82% saw a decrease for in-person sessions.
TaskHuman says that its customers include Zoom, Dr. Scholl’s, RingCentral and public and government institutions like Purdue University, Oakland Housing Authority and Job Corps centers run by the U.S. Department of Labor. While Swaminathan declined to disclose financials, he said that annual recurring revenue has grown by more than 5 times year over year.
“Our company is laser-focused on global expansion and scaling its network of coaches,” Swaminathan said. “We will be continually adding to the set of human experience and expertise that are available on the platform and expanding support for providers in even more languages and countries around the world.”
European Union keeps mobile roaming fees at bay for another decade – TechCrunch
Five years ago, the European Union passed rules which largely ended mobile roaming fees for citizens traveling with their devices across borders within the bloc. Today lawmakers are reupping the regulation that lets EU citizens “roam like at home” for a full decade, meaning European consumers can keep avoiding most extra fees when travelling within another of the 27 EU Member States (or the EEA) until at least 2032.
The updated regulation also brings some new additions — including a focus on quality of service, with a requirement that consumers have access to the same services abroad in the EU as at home when the same networks and technologies are available on the network in the visited Member State.
This means, for example, that a roaming customer who can use 5G services at home should also have 5G roaming services — where they are available — in the visited Member State.
The quality of service provision does not mean a guarantee of getting the same mobile network speed when roaming, since network speeds can vary, but the Commission says the new rules “aim to ensure that when similar quality or speeds are available in the visited network, the domestic operator should ensure the same quality of the roaming service”.
Operators are also required to inform their customers of the quality of services they can expect while roaming by stating this in the roaming contract and publishing information on their website.
The Commission argues that quality of service will be increasingly important as 5G rollouts expand and mobile network technology continues to evolve (its PR includes the phrase “future 6G” — alongside talk of the EU “investing in developing and using innovative digital solutions”).
“As concerns 5G services, it will become more and more important for consumers travelling abroad to know if they could be affected by limitations in available network quality when using certain applications and services,” it suggests. “The new roaming rules aim to enable innovation and business development, ensuring the widest use of innovative services and minimising the risk that citizens would not be able to use certain applications requiring the latest network technology, such as 5G, when crossing internal EU borders.”
The EU’s executive also frames the updated roaming regulation as a boon to digital innovation by reducing the risk of usage disruption since consumers can continuously use their apps and services as they travel across borders in the EU.
The Commission’s PR makes no mention of contrasting recent developments in the UK — which ceased to be an EU Member on January 31 2020, following the 2016 ‘Brexit’ referendum vote to leave the bloc — and where, since the EU roaming regulation ceased to apply, most of the big carriers have quietly announced they will be reintroducing roaming charges for their UK subscribers travelling in the EU.
But UK mobile users are unlikely to have missed the fact that Brexit has meant a return of roaming fees when they want to travel in Europe.
Some Brits may therefore detect a faint trace of trolling in this statement from Thierry Breton, the EU’s commissioner for the internal market, commenting on the extension of fee-free roaming inside the EU, who said: “Remember when we had to switch off mobile data when travelling in Europe — to avoid ending up with a massive roaming bill? Well this is history. And we intend to keep it this way for at least the next 10 years. Better speed, more transparency: We keep improving EU citizens’ lives.”
Another focus for the EU’s updated regulation is around increasing transparency about the types of services that can still bring additional costs when roaming, such as calling customer service numbers, helpdesks or insurance companies — to help travellers in the bloc avoid related ‘bill shocks’.
The Commission says consumers who are roaming should receive an SMS about “potential increased charges” from using such services.
“The SMS should include a link to a dedicated webpage providing additional information on the types of services and, if available, about the relevant phone numbering ranges,” it notes, suggesting operators may also include information about the types of services that may be subject to higher charges in roaming in their contracts with the consumers.
The updated rules are also intended to improve information provision about and access to emergency communications across the EU — such as via the single European emergency number, 112.
“Dialing the emergency numbers and transmitting information on the location of the caller while roaming should be seamless and for free. Likewise, citizens who cannot place a call to 112 should be able to access emergency services free of charge through alternative means when roaming, for example through real time text or a smartphone application,” says the Commission.
“The new roaming rules also reinforce access to emergency services, through calls and alternative means of communications in case of cross border use. It will also ensure that the transmission of caller location will be seamless and free of charge while using roaming services.”
The EU is continuing to regulate wholesale caps — controlling the maximum prices a visited operator may charge for the use of its network by another operator in order to provide roaming services — with the Commission describing this as “an essential element for the sustainability of ‘roam like at home’ for operators”. Its review of the roaming market concluded that wholesale caps should be further reduced.
“The co-legislators agreed on a gradual reduction of the wholesale caps from 2022 onwards,” it notes. “These caps reflect decreasing operators’ wholesale costs of providing roaming services, provide sufficient investment incentives and maximise sustainability for EU operators.”
The Commission expects these wholesale cost reductions to lead to benefits for consumers — such as more generous data allowances while roaming and less likelihood of consumers having to pay surcharges for data usage that exceeds contract allowances.
Operators will still be able to apply a ‘fair use’ policy — meaning that if a person moves to live in another EU country it will be better for them to move to a local contract, as permanent roaming is no longer considered ‘fair use’.
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