News From The Overseas- Apple and Alphabet

Apple’s chief design officer Jony Ive announces departure

Sir Jony Ive, the mind behind the iPhone design announces Apple departure to establish his own independent design company LoveFrom.

On Thursday, Apple released a media report citing the exit of its long-time design chief Sir Jony Ive later this year. The release further read that Jony Ive has decided to step down from Apple to form his independent design company with Apple placed among its primary clients.

The company known worldwide for its obsession with hardware will have to walk out from the cult of the designer. Sir Jony Ive has been one of the most important pillars in Apple’s turnaround from its time of financial crisis over 20 years back to becoming the world leader in innovation and technology landscape presently.

Apple’s Chief Executive Officer Tim Cook stated Jony is an only figure in the design world.

Mr Ive’s role in Apple embarks his journey of nearly 30 years, which outlines the innovation of 1998’s ground-breaking iMac to the iPhone and the company’s ambitious Apple Park. In recent years, Ive was closely involved in Apple’s close knitted design of software and hardware with the obsession for every smartphone curve and precision.

The British designer has created a colossal impact in the design of some of the most iconic consumer technology products with the recognisable contribution to mainstream culture. But his appearance in Apple has revolutionised the world of personal technology through the design of iMac, iPod and iPhone.

In a media release, Tim Cook stated that Apple will continue to benefit from the talents of Jony through the ongoing work of brilliant design team he has built alongside working directly with him on exclusive projects.

Recognised with countless design awards, Apple’s design team brings together creatives across the globe to work under the leadership of Alan Dye, vice president of Human Interface Design, Evans Hankey, vice president of Industrial Design, and eff Williams, Apple’s chief operating officer. Design team leaders Dye and Hankey will now report to Jeff Williams, who led the development of Apple Watch since its inception.

Jony Ive expressed his confidence in the Apple’s design team that present one of the most lasting work he performed over the years in Apple. He added that team will surely thrive under the leadership of Jeff, Evans and Alan.

NASDAQ: AAPL stock last traded at USD199.74 as at 27 June 2019.

Also Read: Apple to Pay Substantial Amount in Taxes Under Liability Towards French Government

Alphabet Results to be released shortly

Google’s parent company Alphabet Inc announces the date to release its second quarter 2019 financial results on 25 July 2019.

For the quarter ended 31 March 2019, the company reported the revenues of $36,339 million, reflecting a year on year growth of 17% led by the robust growth in mobile search, YouTube and Cloud business. Operating increased by 18% to $6,608 million with net income of $6,657 million for 1Q 2019. Diluted earnings per share stood at $9.50 for Q1 2019 relative to $13.33 in Q1 2018.

Alphabet reported $1.1 billion gain on equity securities for the quarter ended 31 March 2019 and the performance fees of $177 million. As a result, net income, income tax and diluted EPS reportedly increased by $763 million, $203 million and $1.09, respectively. However, the large portion of gains were associated with unrealised investment gains, which could have substantial impact driven by the fluctuations in its value.

Google recently announced that it has inked an agreement to acquire Looker in a $2.6 billion all-cash transaction. Looker is a unified platform for data applications, business intelligence, and embedded analytics, which would be joined with Google Cloud on the completion of acquisition transaction.

Google Cloud CEO Thomas Kurian stated that Google Cloud has a strong base of clients with leading organisation using it in the world for decision-making and analytics. He added that the integration of Google Cloud and Looker will allow customers to drive their digital transformation in new ways while Google Cloud remains committed to its multi-cloud strategy.

The combination of Google Cloud and Looker outlines the company’s mission to empower humans through the smarter data use, said Frank Bien, CEO Looker. Mr Bien added that now both the companies will have greater reach with more resources and excellence both in Cloud Infrastructure and Analytics.

This takeover comes in addition to the companies’ already existing partnership where they share a broad array of joint customers such as Hearst, Buzzfeed, Sunrun, WPP Essence, and Yahoo. It is expected that acquisition of Looker would be completed by the end of this year subject to satisfaction of certain conditions.

NASDAQ: GOOGL last traded at USD1,076.63 on 27 June 2019.

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