Tesla Stock Rises on Good News
Tesla shareholders are happy this week following a 7-percent leap in the company’s share price. The stock surged after Tesla reported setting new records for production and delivery of its truly innovative electric vehicles.
“CEO Elon Musk set investors’ expectations high in a companywide email on June 25, saying the electric car maker was on course to deliver a record number of vehicles throughout the quarter. He wasn’t exaggerating. The company delivered 95,200 cars during the three months ending June 30 — a 51.1% increase over an admittedly weak first quarter and besting its previous record of 90,700 deliveries set in the fourth quarter of 2018,” writes Elijah Shama of CNBC. “Tesla’s deliveries are a closely watched industry number and the nearest reflection of sales, showing how many cars were actually delivered to customers.”
The news comes at a great time for Tesla, which will soon face stiffer competition in the high-end electric car market from Mercedes-Benz, Jaguar, Volkswagen and Ford.
What’s Next for the Samsung Galaxy Fold?
DJ Koh, the CEO of Samsung Electronics, says he’s embarrassed by the failed launch of the Galaxy Fold, and concedes that the phone was probably rushed to market too quickly.
“The futuristic $2,000 phone was positioned as the first foldable smartphone from a major manufacturer, allowing Samsung to leverage its display leadership into a hybrid phone/tablet device that no one else could produce,” writes Ron Amadeo of Ars Technica. “The Galaxy Fold's early media-review period was a disaster, though, with social media quickly filling with photos of dead and dying Galaxy Folds. After several phones died in the hands of reviewers, Samsung was forced to cancel the launch, and many pre-orders were refunded.”
Koh says Samsung is testing 2,000 of its devices in an effort to find out what went wrong and fix the problems. For the moment, the phone’s fate is up in the air and the company has set no date for a re-launch.
When Digital Content Providers Pull the Plug
Back in April, Microsoft decided to close down its digital book store. This week, according to reports, ebooks purchased by Microsoft customers will begin vanishing.
“Microsoft will refund customers in full for what they paid, plus an extra $25 if they made annotations or markups,” writes Brian Barrett of Wired.
The decision highlights a downside of DRM (digital rights management) software that is used to protect many types of digital content, including ebooks.
“Originally intended as an antipiracy measure, DRM now functions mostly as a way to lock customers into a given ecosystem, rather than reading or viewing or listening to their purchases wherever they want,” writes Barrett.