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Nokia plans to cut up to 14,000 jobs, or ~16% of its 86,000 workforce, and reports Q3 2023 net sales down 20% YoY to €4.98B and profit down 69% YoY to €133M (Arjun Kharpal/CNBC) 19-10-2023

Arjun Kharpal / CNBC: Nokia plans to cut up to 14,000 jobs, or ~16% of its 86,000 workforce, and reports Q3 2023 net sales down 20% YoY to €4.98B and profit down 69% YoY to €133M  —  – Nokia said it would cut up to 14,000 jobs as part of a cost cutting plan following third quarter earnings that plunged. Lees verder op Tech Meme

Lam Research reports Q1 revenue down 31% YoY to $3.48B, vs. $3.42B est., the third straight quarter of decline, as the chipmaking tools market remains “soft” (Nick Turner/Bloomberg) 19-10-2023

Nick Turner / Bloomberg: Lam Research reports Q1 revenue down 31% YoY to $3.48B, vs. $3.42B est., the third straight quarter of decline, as the chipmaking tools market remains “soft”  —  Lam Research Corp. fell as much as 3.8% in late trading after revenue fell for a third straight quarter, a sign demand for chipmaking equipment remains sluggish. Lees verder op Tech Meme

Filing: China took a “golden share” in Tencent's local subsidiary Shenzhen Yayue, buying a 1% stake for ~$82K, the latest move to expand tech sector control (Josh Ye/Reuters) 19-10-2023

Josh Ye / Reuters: Filing: China took a “golden share” in Tencent’s local subsidiary Shenzhen Yayue, buying a 1% stake for ~$82K, the latest move to expand tech sector control  —  The Chinese government has taken a “golden share” in a domestic subsidiary of tech giant Tencent Holdings (0700.HK) … Lees verder op Tech Meme

Sources: the EU adjusts DSA charges to cap them at 0.05% of 2022 profit; X and Amazon may pay €0 while Alphabet and Meta together pay ~€31M, or 75% of the total (Jillian Deutsch/Bloomberg) 19-10-2023

Jillian Deutsch / Bloomberg: Sources: the EU adjusts DSA charges to cap them at 0.05% of 2022 profit; X and Amazon may pay €0 while Alphabet and Meta together pay ~€31M, or 75% of the total  —  – Alphabet and Meta to pick up three-quarters of the tab  — Charges for large platforms adjusted based on profitability Lees verder op Tech Meme