In this week’s top technology news, we bring you the most significant headlines from June 25 to June 30. From Twitter facing a non-compliance penalty in India to Xiaomi downsizing its workforce, and Apple’s stocks reaching a new all-time high, these are the stories that have dominated the tech world.
Twitter Faces Penalty
The Karnataka High Court has imposed a fine of Rs 50 lakh on Twitter due to the platform’s legal challenge against the blocking orders issued by the IT ministry. The court dismissed Twitter’s plea to suspend the government’s order and justified the penalty, citing the platform’s actions. The Indian government had directed Twitter to take down specific accounts related to the farmers’ protests and the COVID-19 pandemic. Twitter argued that the blocking orders lacked proper procedural and substantive validity, but the court upheld the penalty. Last year, the IT ministry had warned Twitter that failure to remove the tweets would lead to the forfeiture of the platform’s safe harbor immunity under the IT Act.
Xiaomi India Downsizes
Xiaomi India is planning employee layoffs to reduce its workforce to less than 1,000 employees. Several factors, including a decline in market share, increased government scrutiny, and the need for operational streamlining, have led to this decision. The company, which had around 1,400-1,500 employees at the beginning of 2023, has already terminated approximately 30 employees, with more layoffs expected in the coming months.
Apple Stocks Boom
Apple’s stocks reached a new all-time high during intra-day trading, approaching a market capitalization of over $3 trillion for the first time. The shares of the iPhone manufacturer surged by up to 1 percent, reaching $189.90, marking their highest value ever. Though the stock slightly retreated from its peak, it maintained a 0.4 percent increase, trading at $188.81. The recent surge in Apple’s shares is driven by expectations of the Federal Reserve’s interest rate hikes nearing an end and optimism surrounding the potential of artificial intelligence.
Microsoft Against Activision Exclusives
Microsoft and Activision Blizzard have reassured regulators about their proposed merger valued at $69 billion. They stated that making Activision games exclusive would not result in an unlawful concentration of power. Microsoft’s CEO, Satya Nadella, emphasized the company’s commitment to software accessibility across multiple platforms, addressing concerns about exclusive rights to popular titles like Call of Duty.
OnePlus Nord 3 Design Teased
OnePlus has teased the design of the upcoming OnePlus Nord 3 5G smartphone. The company shared the first look of the device, which will be unveiled globally on July 5, 2023. The OnePlus Nord 3 5G will come in two color options: Tempest Gray and Misty Green, with each variant offering a unique appearance and tactile experience.
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