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LG Electronics Inc. has said its first quarter operating profits are expected to drop 18.8 per cent from a year earlier, mainly due to its sluggish smartphone business.
In an earnings guidance, the South Korean electronics major said it expects to post 899.6 billion Won ($791.8 million) in operating profits in the January-March period — above the average market expectation of around 800 billion won.
Its sales are expected to be 14.9 trillion Won in the first three months of 2019, sliding 1.4 per cent from a year ago, the firm said.
The company did not provide detailed performances for each division, saying it will release its earnings report later in April, Yonhap news agency reported.
The operating profit in the preliminary earnings report was up more than 11 times from the previous quarter figure and the company’s second-highest quarterly record.
Market watchers say the strong demand for home appliances was expected to have improved its profitability, offsetting losses from the sluggish mobile business.
In the wake of the worst bout of fine dust in South Korea this year, LG Electronics posted brisk sales of products related to air quality, such as air purifiers, dryers and clothing-care home appliances.
Sales from its home appliance rental service have also been on the rise as more people opt for renting gadgets to save money on purchases, installations and maintenance.
“The release of new televisions and home appliances are expected to enhance LG Electronics’ profitability, but it may be hard for the mobile communication division to make a turnaround in the first quarter,” Park Sung-sun, an analyst at BNK Investment and Securities, said.
In March, LG released its new flagship smartphone — the G8 ThinQ — which drew a lukewarm market response compared with Samsung’s Galaxy S10. It plans to release the V50 ThinQ, its first 5G smartphone with a detachable second screen, in South Korea on April 19.
Analysts estimated LG posted over 200 billion Won in operating losses from its mobile business in the first quarter, extending losses from a year ago and marking the eighth consecutive quarterly deficit.
According to industry tracker Strategy Analytics, LG smartphones’ market share fell from 17.4 per cent in 2017 to 14.3 per cent in 2018 in South Korea. Its share in the North American market also fell from 16.9 per cent to 15.9 per cent over the cited period.
“It is important to create enough demand to cover the rise in marketing costs when the flagship smartphones go into full-scale sales in the second quarter,” Koh Ui-young, an analyst at HI Investment and Securities, said. (IANS)
Facebook must pay a $4.75 million fine and up to $9.5 million in back pay to eligible victims who say the company discriminated against U.S. workers in favor of foreign ones, the Justice Department announced Tuesday.
The discrimination took place from at least January 1, 2018, until at least September 18, 2019.
The Justice Department said Facebook "routinely refused" to recruit or consider U.S. workers, including U.S. citizens and nationals, asylees, refugees and lawful permanent residents, in favor of temporary visa holders. Facebook also helped the visa holders get their green cards, which allowed them to work permanently
In a separate settlement, the company also agreed to train its employees in anti-discrimination rules and conduct wider searches to fill jobs.
The fines and back pay are the largest civil awards ever given by the DOJ's civil rights division in its 35-year history.
"Facebook is not above the law and must comply with our nation's civil rights laws," Assistant Attorney General Kristen Clarke told reporters in a telephone conference.
"While we strongly believe we met the federal government's standards in our permanent labor certification [PERM] practices, we've reached agreements to end the ongoing litigation and move forward with our PERM program, which is an important part of our overall immigration program," a Facebook spokesperson said in a statement. "These resolutions will enable us to continue our focus on hiring the best builders from both the U.S. and around the world and supporting our internal community of highly skilled visa holders who are seeking permanent residence." (VOA/RN)
Keywords: Facebook, Employment, Justice Dept., Recruitment
Tomatoes are a staple in the Indian diet, be it a vegetarian or a non-vegetarian dish. It has to be a part of each meal in some form. As puree, paste, flavour, or diced into the dal. This tangy, sweet, and juicy ingredient was not always Indian. In fact, it did not even grow in India until the British sanctioned it. It is a product of colonization and has come a long way to become part of our everyday meals.
Originally, the tomato was considered poison. Its actual native is debatable. Some say it is European while others argue that is came from indigenous parts of Spain and Portugal. Either way, it is a plant species that is associated with the legendary Nightshade. It looks very similar to this poisonous plant that tomatoes were not even harvested for a long time, for fear of picking Nightshade instead. It was believed that Nightshade caused the blood to turn to acid and that tomatoes had the same property. Later research proved that the plant itself may be poisonous but the fruit is not.
The fruit if the woody nightshade plant Image source: Wikimedia Commons
Tomato is considered a fruit instead of a vegetable because it is cooked. But this theory has an interesting tale behind it. in the United States, in 1887, a tax was levied on the transport of vegetables, but not on fruits. By then, tomatoes had become a huge part of the American diet and traders could not afford to pay the ten percent duty. So, they began to call the large loads they transported fruits, just to avoid the tax due. In time, this is how the tomato came to be regarded. Some scientists went even further and stated that it is a berry. Botanists claim that since it is a part that grows from the flower's ovary and contains seeds, it is a fruit and not a vegetable. But this is a debate that will never end.
Incorporating tomatoes into the Indian diet must have happened so long ago that people do not remember a time without tomatoes, considering how it is the fundamental ingredient of most cuisines. The tomato has a name in every language as well, so the trading between nations, the voyages that brought them to India, and the decoding of the fruit-vegetable must have taken place far earlier than our ancestors remember. Or, perhaps we liked it so much that we decided to use it everywhere and make it our own. Nonetheless, it has been a delightful addition.
Keywords: Tomato, Fruit, Vegetable, Nightshade, Voyage, Staple
Every child who grew up in the 90s and the early 00s has certainly grown up around Tom and Jerry, the adorable, infamous cat-chases-mouse cartoon. The idea of naughtiness and playing mischief had the standards that this particular series set for children and defined how much wreckage was funny enough.
The show's creators, William Hanna and Joseph Barbera initially named their characters Jasper and Jinx. They did not plan for the fame that Tom and Jerry brought them when they released a movie by the name of "Puss Gets the Boot". This movie featured a certain cat and mouse who were a notorious pair, named Jasper and Jinx. When the movie became a hit, the names of the characters were changed and the show shot to fame.
Tom and Jerry became a go-to cartoon for children in the early 00s, and it was one of those shows with a firm foundation, that had already been in the running for decades. The original template had been planned nearly 80 years ago, and the makers did not change it. The music that was played in the many episodes, made a breakthrough in its own way. It is the most easily recognizable melody with utterly nostalgic associations.
Today, Tom and Jerry is still a household name in homes where children love cartoons Image credit: wikimedia commons
A set of supporting characters were defined for the show, to occasionally take the focus off the original pair. There was a large, black woman named Mammy Two Shoes and a bulldog who took Jerry's side. Mammy Two Shoes was discontinued because her character portrayed racist tendencies. A tall white woman replaced her, who was kinder and loved mice. Either of the women's faces was never revealed.
Today, Tom and Jerry is still a household name in homes where children love cartoons. There are a host of other shows besides this that aim to replicate the same aspects of the cartoon but do not come close at all. Despite the immense amount of violence in the show, it is a beloved pastime of parents and children alike.
Keywords: Tom and Jerry, Cartoon, Hanna and Barbera, Television