📱 Xiaomi Overtakes Samsung in Europe!

ROI Overload Business, Tech & Finance Newsletter

  
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Xiaomi Moves Ahead of Samsung in Q2 2021

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For the first time, the Chinese smartphone maker Xiaomi has overtaken Samsung to become the top seller in Europe. 

Earlier, Xiaomi had overtaken Apple to become the second-ranking smartphone vendor globally. 

In Q2 2021, the total number of smartphone shipments in the world was 50.1 million. Xiaomi occupied the top spot by shipping 12.7 million, which was a 67.1% growth compared to the same time the previous year. 

Samsung, which had 12 million shipments, came second to Xiaomi and, more importantly, witnessed a 7% decline in sales on a year-over-year basis. 

Other smartphone companies to follow Xiaomi and Samsung in the number of shipments were Apple (9.6 million), Oppo (2.8 million), and Realme (1.9 million). 

According to market analysts, Xiaomi’s focus on value has helped it to grow across the continent of Europe, especially in Russia, Ukraine, Spain, and Italy. 

Crypto-Asset Trading Firm Voyager Digital Acquires Coinify’s Global Payment Infrastructure

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Voyager Digital, a crypto-asset trading firm, is all set to acquire the payments company Coinify for $85 million in cash and stock. 

Voyager expects the acquisition to help expand its capabilities as it would enable them to offer more options to their crypto users for cross-country payments. 

While Voyager is a publicly listed company in Canada, Coinify’s services are available across Europe, Asia, North America, and South America.

To complete the purchase, Voyager would issue 5.1 million shares, worth $70 million. The rest of the $15 million would be paid to Coinify investors in cash. 

Voyager Digital would purchase Coinify with the $5.5 million cash that the latter has on its balance sheet. 

Twitter Collaborates With Reuters and AP to Combat Misinformation

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To provide more context to tweets, Twitter is to partner with two leading news agencies in the world: Reuters and The Associated Press. 

To implement the plan, Twitter’s Curation team will work in tandem with the news giants to keep the process seamless, fast, and efficient. 

The vision is to nip the misinformation in the bud before it goes out of hand. 

Twitter’s curation team is already functional and has impressed users with their efforts to contextualize trends by adding relevant descriptions to them, showing relevant and credible information at the top of the searches, or even posting warning labels to posts that could be misleading.  

What the partnership with Reuters and AP will add to these efforts are more credibility and enhanced efficiency. 

As the trends slowly begin to gain momentum, the partnership with AP and Reuters would help Twitter to quickly provide information around the trend, much before misinformation goes viral and gets out of hand. 

Chinese Electric Vehicle Start-Up LI Auto to Raise $1.93 Billion in a Hong Kong Secondary Listing

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To raise the target funds, Li Auto will issue 100 million class A ordinary shares to investors, with prices of these stocks capped at 150 Hong Kong dollars, nearly US$19.29. 

Li Auto’s decision to raise funds follows that of its rival Xpeng that had raised $1.8 billion from a similar Hong Kong listing. 

What propels Li Auto even more to list in Hong Kong is the trend among the US-listed Chinese stalwarts, such as Alibaba, NetEase, and JD.Com, to raise funds closer to home. 

A secondary listing also helps to hedge against the geopolitical risk that arises out of sudden changes in financial market regulations at a specific location. 

AROUND THE WEB

⚖️ Zoom to Pay $85 Million in Settlement: The video conferencing giant Zoom has agreed to pay $85 million to settle a lawsuit, accusing the company of violating users’ privacy by divulging their data to third parties without consent.

📈 Australian Exchange Approved in Singapore: Australian exchange Independent Reserve becomes the first crypto exchange in Singapore to win an in-principle approval to work as a fully regulated VASP or virtual asset service provider. 

💻 Twitter Login With Apple/Gmail Accounts: Twitter’s new capacity rollout will help users to sign-up and/or log in to the app using their Google/Apple credentials. 


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