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Analysis-Samsung's reputation hit as prices slashed at home for new premium phone – Yahoo Canada Finance

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By Byungwook Kim

SEOUL (Reuters) – Samsung Electronics’ flagship Galaxy S22 smartphone has taken a battering from reports of hobbled performance and has seen carriers half its price at home in South Korea just weeks since its launch, hurting its image as an iPhone rival.

Consumers have complained – and even filed a class-action lawsuit – about the handset maker advertising what it called its most powerful smartphone yet with scant detail about performance management software that they say drastically slows the premium device when using processor-intensive applications.

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Such are the complaints that the Korea Fair Trade Commission last month began investigating the world’s biggest phone vendor.

The controversy represents a blow to Samsung’s reputation for high-end handsets – and potentially its finances – as it tries to make up for two years of premium sales that missed analyst estimates and reverse a decline in market share.

“The dispute will inevitably be a big hit to Samsung’s credibility,” said analyst Lee Seung-woo at Eugene Investment & Securities.

At the heart of complaints is Samsung’s Game Optimising Service (GOS) which manages device performance during gaming to prevent overheating and preserve battery life. The manufacturer introduced the software in 2016, just months before it pulled its premium Galaxy Note 7 following a series of battery fires.

GOS automatically limits handset performance during gaming but also during use of other processor-intensive applications, said Geekbench, a widely used performance scorer, which found the software slowed the S22’s processor by as much as 46%.

The extent to which GOS slows the S22, lack of details about the software in marketing materials, and the inability to disable it set social media alight.

“This is an unprecedented, crazy issue that can’t be excused in any way,” ITSub, a YouTuber with 2.1 million subscribers who specialises in gadgets, said in a YouTube post.

Samsung said it issued an update to allow users to disable the software with no risk to safety. It also said it would continue to invest to innovate in both hardware and software.

PRICE DROP

The S22 series hit sales of 1 million handsets in South Korea within six weeks of release, reaching the mark two weeks faster than its predecessor, Samsung said.

“The intentional performance downgrade surely had a negative effect, but its actual impact on Samsung’s sales seems limited. Data shows that sales are not much affected,” said analyst Kim Ji-san at Kiwoom Securities.

Still, South Korea’s three major telecom providers have nearly doubled subsidies for the S22, pushing its price as low as 549,000 won ($451) from a launch of 999,000 won. Apple Inc’s iPhone 13, released in October, starts at 1,090,000 won with carriers offering smaller subsidies of around 150,000 won.

“When subsidies go up simultaneously at all three telcos, it’s typically the manufacturer making up the contributions,” said an official at carrier LG Uplus Corp, declining to be identified due to the sensitivity of the matter.

Samsung’s 2021 market share in devices over $400 shrank 3 percentage points to 17% from a year prior, while Apple’s rose 5 percentage points to 60%, showed data from market researcher Counterpoint. The data also showed sales of both the S20 and S21 fell short of the S series’ first-year norm of 30 million units.

Early shipments of the S22, launched late February, indicate Samsung will move over 6 million handsets by March-end, broadly in line with expectations, said Counterpoint Associate Director Sujeong Lim.

Still, Lee at Eugene Investment & Securities, expects the GOS furore to combine with increased component costs to leave April-June operating profit at Samsung’s mobile arm at 3 trillion won, down from a previous forecast of 3.4 trillion won.

IBK Investment & Securities analyst Kim Un-ho also downgraded his forecast to 3 trillion won from 3.5 trillion won.

Samsung on Thursday said it expects to report an estimated 50% jump in overall January-March operating profit on April 28, as demand for its memory chips remained solid.

SPEED LIMIT

Teardowns of the lowest-priced S22 showed the handset lacked a cooling component called a vapour chamber, implying increased reliance on software to manage overheating, reviewers said.

Analysts said the lean toward software solutions stems from a renewed policy to cut costs – a strategy they said erodes a reputation as an innovator based on hardware strength.

Lee said Samsung “is putting too much emphasis on cutting costs, which led to this unfortunate case.”

Samsung Electronics Vice Chairman and Chief Executive Han Jong-hee at an annual shareholders meeting last month said he “will not compromise quality to cut expenses, and will continue to introduce products that put utmost priority on first-rate product experience and quality.”

At least 1,885 consumers are not convinced, having filed a class-action lawsuit arguing Samsung’s marketing inflates the S22’s performance.

“If Porsche has a speed limit of 100 kilometres (62 miles)per hour, would you still buy it?” said Kim Hoon-chan, the lawyer representing the consumers, adding that some 1,500 people have joined to file a second class-action suit.

($1 = 1,218.4000 won)

(Reporting by Byungwook Kim; Additional reporting by Joyce Lee; Editing by Miyoung Kim and Christopher Cushing)

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Take-Two Interactive to Acquire 'Borderlands' Developer Gearbox From Embracer Group for $460 Million – Yahoo Canada Sports

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Take-Two Interactive has acquired video game developer Gearbox, the maker of the “Borderlands” franchise, from Embracer Group for $460 million.

Per Take Two, the company “expects the transaction to deepen its successful relationship with Gearbox Entertainment and to provide increased financial benefits through a fully integrated operational structure.”

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As part of the deal, Take-Two will acquire Gearbox IP, including “Borderlands” and “Tiny Tina’s Wonderlands” franchises, games published by Take-Two’s 2K Games, as well as “Homeworld,” “Risk of Rain,” “Brothers in Arms” and “Duke Nukem.”

Currently, Gearbox has six “key interactive entertainment projects in various stages of development,” per Take-Two, which includes five sequels, two from “Borderlands” and “Homeworld” universes, and at least one “exciting new intellectual property,” all of which have been acquired in the sale.

Take-Two’s purchase of Gearbox is expected to close in June, pending regulatory approval. Upon completion, Gearbox will operate as a studio within 2K, continuing to be led by Gearbox CEO Randy Pitchford and his management team.

Former Gearbox owner Embracer, a Swedish gaming conglomerate who snapped up the rights to “Lord of the Rings” two years ago, has undergone a severe restructuring program over the past year, which has seen the company shut down or dispose of dozens of games studios and titles and lay off hundreds of staff, resulting in aftershocks that have reverberated throughout the games industry.

The sale of Gearbox marks the latest insistence of Embracer unloading assets, following the company divesting Saber Interactive.

“Our acquisition of Gearbox is an exciting moment for Take-Two and will strengthen our industry-leading creative talent and portfolio of owned intellectual property, including the iconic Borderlands franchise,” Take-Two CEO Strauss Zelnick said. “This combination enhances the financial profile of our existing projects with Gearbox and unlocks the opportunity for us to drive increased long-term growth by leveraging the full resources of Take-Two across all of Gearbox’s exciting initiatives.”

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An OLED iPad Pro and the first big-screen iPad Air will reportedly arrive in May – Engadget

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Apple will finally launch new iPads in early May, according to Bloomberg’s Mark Gurman. Expected are a new iPad Pro with an OLED display and a faster iPad Air, including a 12.9-inch model for the first time in that lineup. The details of the upcoming iPad models have been consistent, circulating through the rumor mill since last year.

The new iPad Pro models will reportedly add OLED displays (offering deeper blacks and richer colors) and run on the new M3 chip, already found in several Macs. The new tablets are said to launch alongside a redesigned Apple Pencil and Magic Keyboard. Other than a white color option, the latter has remained unchanged since its arrival four years ago.

Meanwhile, the iPad Air will supposedly run on a new processor. Bloomberg didn’t specify which, but — considering the current model uses the M1, and Apple likely wants to reserve the M3 for the more expensive Pro — the M2 sounds like a safe bet. The 12.9-inch screen option would mark the first time the iPad Air line has offered a display larger than 10.9 inches. Although Apple will charge more for that model than the smaller sibling expected alongside it, that would be the cheapest way yet to get a supersized iPad screen.

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Gurman said early this month that the new tablets would launch alongside the M3 MacBook Air, but the laptop arrived without any iPads in tow. He now reports that Apple’s release schedule was pushed back to finish working on the devices’ software and ironing out the kinks from the “complex new manufacturing techniques” they require.

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Ashleigh Oakridge offers boutique-style condos with concrete construction – Vancouver Sun

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Peterson Group’s latest project will be chock-full of amenities and have timeless interiors

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It may not sound exciting to say the big selling points for a new condominium project are that it’s concrete construction and four storeys. But start thinking in terms of getting all the benefits of concrete-tower construction in a sophisticated, boutique-style building of only 34 to 35 units, chock-full of amenities, situated on a quiet, tree-lined Vancouver street and the appeal is obvious—especially to those downsizing in the neighbourhood.

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“That on its own really sets it apart because if you want to be in a boutique setting, you don’t love the idea of highrises, and you want a concrete home type, there aren’t many options. It’s highly unique,” explains Barrett Sprowson, vice-president of sales and project marketing at Peterson Group, the developer of the Ashleigh Oakridge project, which will be composed of three buildings when completed.

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Two of the three buildings, the Berkley and the Alma, will be constructed first, with the Cambridge following later. Each one will have its own curb appeal, but all are designed to integrate into the neighbourhood, hence the plan to maintain the existing trees. The wellness amenities of sauna, steam room, cold and hot plunge pools and fully-equipped fitness room are centrally located in the Berkley for all the residents’ use. All three buildings have their own rooftop amenities that feature an indoor-outdoor flow from an expansive entertainment and co-workspace to patio lounging, dining, fire pits, communal gardens and children’s play area.

The interiors at Ashleigh Oakridge will feature classic styling with design-forward touches.
The interiors at Ashleigh Oakridge will feature classic styling with design-forward touches. Photo by Supplied by Peterson Group

The interiors of the homes, which Sprowson says offer generous, well-laid-out floorplans, feature numerous elevated design details that complement a classic esthetic. His personal favourite is the pot filler over the gas cooktop in the kitchen. “There’s not too many times you run into that, and there’s a little feature that’s practical, helpful and useful but is also tricky and expensive to do,” he says.

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The interior design team at Ste. Marie Studio framed their overall concept around the idea of classic styling accented with design-forward touches.

“We looked at it through the lens of a single-family home and wanting it to feel really timeless,” says Craig Stanghetta, founder and creative director of Ste. Marie Studio. “We don’t want it to feel that it doesn’t have a little bit of risk. There’s a little bit of risk in terms of some brushed metal accents.”

Their use of a bold marble for the kitchen backsplashes makes a dramatic visual statement, but though striking, the pattern is a classic marble, not one heavily veined, and one that would be at home in a Paris apartment or a New York brownstone, Stanghetta observes. In the larger homes, they’ve used it to wrap the islands. “They become a big feature, but in some of these other ones, we’re using the manufactured stone in those areas and letting the backsplash be the big design gesture,” Stanghetta says.

The wellness amenities will include sauna, steam room, cold and hot plunge pools and a fully-equipped fitness room.
The wellness amenities will include sauna, steam room, cold and hot plunge pools and a fully-equipped fitness room. Photo by Supplied by Peterson Group

In the smaller units where the backsplashes are marble, but quartz is used on the counter and island surfaces, the team introduced a dining table-island combination that works for multiple uses—kitchen prep, home office or dining—and the generous bank of wall storage available in the L-shaped configuration allowed for this unique style of island.

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“I think we just acknowledged that sometimes people are prioritizing different things, and if you’re in a one-bedroom living scenario, then we want the flexibility to choose your own adventure with that piece of furniture,” Stanghetta explains.

The appliance package is Miele and features built-in coffee makers, gas ranges, speed ovens, wall ovens and, in some units, wine fridges. There are also sleek can lights over the islands and open shelving for personalizing the space. Sprowson notes that the full-height pantries also boost the kitchens’ functionality and that, though expected when downsizing from a single-family home, they’re often not an option in condo living.

“It’s also a striking kitchen. You look at the marble backsplash and the marble countertop with the waterfall edge, and you’ve got all the functionality, but it’s also, dare I say, very pretty to look at,” he says.

When complete, each building at Ashleigh Oakridge will have rooftop amenities that include an entertainment and co-workspace, patio lounging, dining, fire pits, communal gardens and children's play area.
When complete, each building at Ashleigh Oakridge will have rooftop amenities that include an entertainment and co-workspace, patio lounging, dining, fire pits, communal gardens and children’s play area. Photo by Supplied by Peterson Group

The bathrooms reflect that same mix of functionality and sophisticated styling, with details like flattering sconce lighting and wall-mount toilets. Stanghetta says the floating shelf under the medicine cabinet creates a “nice balance of high-functional storage but then these clean lines that also give you a more fully designed and realized space.”

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He notes that the double vanities in the larger bathrooms have an oversized countertop, a beautiful detail that works with the timeless design concept: attention to detail that will last. The combination of timelessness with contemporary accents creates interiors that reflect the project’s overall vision.

The development is ideally situated to allow residents to be central to everything while enjoying a quiet location.

“This is a viable option for anyone who wants concrete, a good amount of space, decent amenities, all the walkability and proximity to Oakridge and all the cool stuff that’s on the Cambie corridor,” Stanghetta observes.

Ashleigh Oakridge

Project Address: 5080 Ash Street, Vancouver

Project Scope: A development of three, four-storey, concrete, boutique buildings offering one, two and three-bedroom homes that range from 590 to 1,800 square feet. Each building features rooftop amenities and a shared wellness and fitness centre in the Berkley building.

Developers: Peterson Group

Architects: GBL Architects

Prices: Starting in the low $800,000s

Sales centre: Ashleigh PC 2094 W 43rd Ave, Vancouver

Sales centre hours: Open daily (Except Friday), noon to 5 p.m.

Sales phone: 604-476-429

Website: ashleighoakridge.com

Occupancy date: Estimated completion summer 2028

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