Hisense has announced its Intelligent Wi-Fi Room AC, which allows you to control the AC unit anywhere in the house through smart phones with Wi-Fi capability. Moan Abraham, VP and GM for Air Conditioning at Hisense Middle East commented, “In the Middle East region, Hisense has already embarked major success with year-on-year growth of over 50% with ambitious plans to achieve double digit growth in the region.”
“We are confident that our next generation products will not only bring much desired convenience to consumers but will revolutionize the ACs industry in the Middle East. The company’s continuous success is attributed to the core technologies that are designed to suit the global and regional commercial air-conditioner industry,” he also added.
The company claims that globally, Hisense B2B companies has achieved a record sales revenue of 27% of Hisense Group’s total with profit share being 38%. The company is currently enjoying a more balanced industrial structure between its traditional B2C and new B2B business. “As a result, Hisense Group achieved US$ 11.43 billion in sales income as of the end of September 2016, an increase of 6.53% compared to last year, and profit increasing by 53.31% to reach US$ 820 million,” said the company.
After 14 years of development, Hisense’s market share in the commercial air conditioner space is already No.2 in China, with the help of its world leading VRF technology, the company further added. “Going forward, Hisense aims to use its technology to link all communities through communication and smart home products and eventually provide services to entire cities. Hisense’s B2B business will also seek to develop overseas markets together with Hisense’s existing global TV, fridge and air conditioner businesses,” the company said.
Facebook’s Parent Company Rebrands Itself as Meta as it Focuses on Building the “Metaverse”
Facebook is now called Meta, the company said on Thursday, in a rebrand that focuses on building the “metaverse,” a shared virtual environment that it bets will be the successor to the mobile internet. The name change comes as the world’s largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions, and the policing of abuses on its services.
CEO Mark Zuckerberg, speaking at the company’s live-streamed virtual and augmented reality conference, said the new name reflected its work investing in the metaverse, rather than its namesake social media service, which will continue to be called Facebook. The metaverse is a term coined in the dystopian novel “Snow Crash” three decades ago and now attracting buzz in Silicon Valley. It refers broadly to the idea of a shared virtual realm that can be accessed by people using different devices.
“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” said Zuckerberg. The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure.
The tech giant, which reports about 2.9 billion monthly users, has faced increasing scrutiny in recent years from global lawmakers and regulators. In the latest controversy, whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety. Haugen has in recent weeks testified before a U.S. Senate subcommittee and lawmakers in the UK’s Parliament.
Zuckerberg earlier this week said the documents were being used to paint a “false picture.” The company said in a blog post that it intends to start trading under the new stock ticker it has reserved, MVRS, on Dec. 1. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up “Like” logo with a blue infinity shape.
Facebook said this week that its hardware division Facebook Reality Labs, which is responsible for AR and VR efforts, would become a separate reporting unit and that its investment in it would reduce this year’s total operating profit by about $10 billion. This year, the company created a product team in this unit focused on the metaverse and it recently announced plans to hire 10,000 employees in Europe over the next five years to work on the effort.
Zuckerberg recently said in an interview with a leading tech publication, that he has not considered stepping down as CEO, and has not thought “very seriously yet” about spinning off this unit. The division will now be called Reality Labs, its head Andrew “Boz” Bosworth said on Thursday. The company will also stop using the Oculus branding for its VR headsets, instead calling them “Meta” products.
The name change, the plan for which was first reported by the Verge, is a significant rebrand for Facebook, but not its first. In 2019 it launched a new logo to create a distinction between the company and its social app. The company’s reputation has taken multiple hits in recent years, including over its handling of user data and its policing of abuses such as health misinformation, violent rhetoric and hate speech. The U.S. Federal Trade Commission has also filed an antitrust lawsuit alleging anticompetitive practices.
“While it’ll help alleviate confusion by distinguishing Facebook’s parent company from its founding app, a name change doesn’t suddenly erase the systemic issues plaguing the company,” said Mike Proulx, research director at market research firm Forrester.
The plans to phase out the Facebook name even from products like video calling device Portal show the company is eager to prevent the unprecedented scrutiny from hurting the rest of its apps, said Prashant Malaviya, a marketing professor at Georgetown University McDonough School of Business.
“Without a doubt, (the Facebook name) is definitely damaged and toxic,” he said. Zuckerberg said the new name, coming from the Greek word for “beyond,” symbolized there was always more to build. Twitter CEO Jack Dorsey on Thursday tweeted out a different definition “referring to itself or to the conventions of its genre; self-referential.”
Zuckerberg said the new name also reflects that over time, users will not need to use Facebook to use the company’s other services.
The Assembly Asks Local Innovators to Assemble!
The Assembly, the region’s first Smart Lab-Maker Space and Community Learning Initiative based in Dubai, has announced the dates for its first Show & Tech, an exhibition featuring innovative DIY projects contributed by tech enthusiasts of all ages from around the country. (more…)
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