It’s been mostly gloomy weeks for big tech but with a few more optimistic tones in quarterly reports. Alphabet’s Google and Apple reported decline in sales. Amazon’s cloud computing slowed down. Meta’s shares were up by almost a fifth after it reported quarterly revenues down by 4% year over year but above forecasts. Microsoft reported revenues up by 2% from the same period while the profit fell by 12%.
The downturn in sales of PCs, tablets and mobile phones will continue this year. Worldwide sales of total devices will decline 4.4% in 2023. In 2022, the market declined 11.9%, according to a forecast by marketing and research firm Gartner. PC sales will be the worst hit by the downturn.
The metaverse could generate $4 trillion to $5 trillion in value by 2030. The integrated or true metaverse is a long way off but companies have to get ready for it. These are conclusions from an article in McKinsey Quarterly written by four partners at the company.
Journalists’ trade unions in Denmark, Norway, Finland and Iceland are leaving the International Journalist Federation (IFJ) protesting that IFJ is too soft on the Russian journalists’ union (RUJ) that is reported to support the Russian invasion of Ukraine, Swedish journalists’ trade union’s magazine Journalisten reports. The Swedish union is staying in the IFJ but chair Ulrika Hyllert is quoted saying that the Swedish union is investigating consequences of leaving IFJ.
Women have been hardest hit by the tech industry’s layoffs during the last 12 months, Women in Tech research shows that 69.2% of those laid off were women. The network published its research in a post in connection with big tech companies’ recently announcing layoffs when the economic downturn means lower revenues than the companies have been used to.