Tag: plan

Samsung unveils recovery plan

cunning-planSamsung has been talking about its cunning plan to recover quickly from the disastrous withdrawal of the Galaxy Note 7 that dragged down its third quarter mobile earnings to their lowest level in nearly eight years.

The outfit said it was expanding its probe into the Note 7 fires beyond batteries, as it tried to reassure investors that it would get to the bottom of the problem.

It suggested that it might be carrying out a share buyback to boost the share price. It also talked up its semiconductor business and promised to consider proposals for a corporate makeover.

Co-Chief Executive J.K. Shin told shareholders at the annual meeting that the company had to work hard to win back trust. He also apologised for the Note 7 debacle.

Investors are now expecting to see sweeping management changes in response to the Note 7 failure, especially after voting to make the parent conglomerate Samsung Group’s Jay Y. Lee, a Samsung Electronics director.

Lee, 48, the son of patriarch Lee Kun-hee who has been hospitalised following a heart attack, will now have a clearer mandate to play a public role in setting strategy.

Heads will roll but shareholders may have to wait for the Note 7 investigation to conclude first. Chief Executive Kwon Oh-hyun said at the shareholder meeting the company would assign responsibility only after the crisis was resolved.

The world’s top smartphone maker posted a 96 percent plunge in third-quarter mobile earnings to $87.63 million from a year earlier, their lowest level since the fourth quarter of 2008.

Operating profit was $4.57 billion, matching Samsung’s revised guidance.The scrapping of Samsung’s flagship phone erased 0.1 to 0.2 percentage points from South Korea’s third-quarter GDP growth in quarterly terms, a finance ministry official told Reuters on Tuesday.

Samsung SDI which supplied batteries blamed for the first Note 7 recall, separately reported a 110 billion won operating loss for the third quarter.

Jeff Bezos buys the Washington Post

Analysts claim that Jeffrey Bezos’ purchase of the Washington Post is a chance for the newspaper industry to evolve into something more relevant to the 20th century.

The Amazon founder wrote a $250 million cheque for the Washington Post and is believed to have a cunning plan to save newspapers.

In a statement, Bezos said that he is very optimistic about the future of the paper.

To many this means Bezos wants to try to change newspapers in the same way he did the book business.

The Post has seen a rapid decline in print advertising, a loss of subscribers and challenges in building up online revenue.

Bezos indicated that he wouldn’t make radical changes in editorial operations and would continue to emphasise accountability journalism.

But he said that the paper will need to “invent” and to “experiment,” focusing on the internet and tailored content, to address the changing habits of readers.

The LA Times said that this is the first time a true digital native is buying a newspaper publishing company.

It quoted Alan Mutter, a media consultant and former newspaper editor, as saying that Bezos had the means, motive and opportunity to re-envision what it means to be a newspaper in the digital era.

Bezos will own the Post outright, buying it with his own money, not Amazon’s. By taking it private, he won’t be subject to shareholders who want a quick buck. 

RIM's new CEO has a cunning plan

Research in Motion’s new CEO, Thorsten Heins, says he has a cunning plan for the Blackberry.

Heins, who has been polishing the chair at RIM, said that he will present the board with his plan for the company’s future in just a matter of weeks.

Speaking to Reuters, he said that he will have to show up at board meeting in two weeks to present his cunning plan.

He is not saying what his cunning plan is yet, but it’s so cunning you can brush your teeth with it. He should know – he has been promoted from the role of chief operating officer. Heins would have had a lot of experience having cunning plans shoveled up to be eaten by the two headed former CEO Jim Balsillie and Mike Lazaridis, where they would end up being digested and cast out as things like RIM’s wonderful tablet.

Heins said that while RIM is growing in other countries, its US business is down the drain and losing ground to the iPhone at US service providers.

Corporations, where it once had a clear advantage among employees heavily dependent on its email service, are looking at alternatives. However, Heins said that RIM only needs to be seen as a turnaround candidate in the US where it lost shedloads of its market share.

His cunning plan must involve the telephone operators who are keener to subsidise Android and iPhone products but are looking twice at RIM.

They were annoyed that RIM had to announce in December that it’s delaying the BlackBerry 10m, which is its next generation software, until the later part of 2012. RIM didn’t think there was a chip good enough for it yet, but Heins believes these will be ready in time for Christmas.

RIM could look at new ways of bundling different devices together or offering carriers smartphones with a package of pre-loaded software, he hinted

We think, however, some of his cunning plan might be as good as the one which involved sorting out his low roof by cutting his own head off.

One idea appears to be betting on the company’s PlayBook to compete with Apple’s iPad. This is like betting on a pantomime horse to win the Derby without doping the other competitors.

He said RIM will launch a version of the Playbook with a high-speed wireless connection based on LTE.

This is hardly innovation. Verizon Wireless and AT&T are already promoting LTE devices including smartphones and tablets from RIM’s rivals. But at least it will position RIM in the running. 

Over half of businesses lack formal data retention plan

More than half of businesses do not have a formal data retention plan, creating massive recovery problems due to the over-retention of information, according to a new report by Symantec.

The study, entitled 2010 Information Management Health Check Survey, reveals some shocking figures. Only 46 percent of the 1,680 global businesses asked had a data retention plan in place, meaning that most businesses lack formal procedures for addressing the storage of data and when, if ever, it gets deleted.

87 percent believed such a plan should allow them to delete unnecessary information, but 13 percent would rather not delete anything, even useless material, at all.

The research also found that 75 percent of backups have infinite retention or are on “legal hold”, meaning that they can potentially never be deleted, creating a nightmare situation for those trying to sort through backups to restore a system to a usable state or to regain specific lost information. 

Symantec found that one in six companies archive information indefinitely. It also found that 25 percent of data that is backed up is not needed and should not be retained, since it hogs space and makes accessing essential information more difficult.

The report discovered that there was widespread improper legal hold practices, with 70 percent of companies performing legal holds using backups, 25 percent preserving an entire backup set for legal holds on files and documents, and 45 percent of backup storage being used for these legal holdings.

If that were not enough, it also found improper backup, recovery and archive practices were rampant. 51 percent prohibit end-user archives, but 65 percent report that end-users archive material anyway when not permitted. 49 percent use backup software for archiving, even when it’s not designed for that purpose.

The consequences of these improper practices are manifold, including high storage costs, long backup windows, excessive recovery times, increased litigation risk, and inefficient electronic discovery, none of which a business can dismiss lightly.