Lenovo’s revenues made their third consecutive quarterly fall to $62 billion — down 14 per cent from $71 billion in 2022.
Net income came in at $1.6 billion was down from $2 billion– a 21 per cent drop.
The Chinese tech giant said its intelligent devices group (IDG) business saw a 21 per cent revenue setback due to a bad case of “sector inventory digestion” demand slowdown and exchange rate fluctuations.
IDG revenue dropped from $62 billion to $49 billion in 2023.
Hexaware Technologies has poached Microsofty Saurabh Rana as its new Strategic Partnerships and Global Alliances Lead.
This move forms part of Hexaware’s cunning plan to deepen its commitment across the Cloud and Hyperscale Ecosystem to ensure the company fully harnesses the power of its partnerships, propelling clients forward in their digital, data, and cloud transformation journeys.
As a critical element of his role, Rana will accelerate strategic collaboration and establish dedicated business units for top Hyperscale partnerships. His leadership is expected to spur momentum and growth through increased co-selling of joint solutions, driving deal velocity, and bolstering Hexaware’s growth objectives.
A survey involving 1,000 British workers has found that more than 25 per cent of respondents reported having switched occupations three times in the previous three years.
The younger generation was known as the “job-hopping generation”, whereas those getting close to retirement stay put for the final years of their careers.
instantprint, a British-based online printing business, conducted research shedding light on the shifting employment landscape. The findings indicate that Generation X and individuals under 18 have relocated an average of four times in the last three years.
Grey box shifter Dell has added more elements to its Apex as-a-service portfolio, with more cloud compatibility, storage, data management tools and PC subscription options.
Apex added Microsoft and Red Hat offerings as collaborative cloud platforms that should support more public cloud choices among customers.
The vendor is also rolling out more options for public cloud, providing block and file enterprise features for partners to pitch. Dell announced Apex Navigator, which helps data mobility, storage and container management across multi-cloud environments.
Cybersecurity vendor Claroty has launched a new partner certification programme.
Dubbed FOCUS the programme differs by improving the requirements which Claroty hopes will help security-focused MSPs better develop the skills and processes necessary to deliver across “the entire enterprise security services lifecycle”.
The company said that it had formalised the different licencing models it used with its partners.
There had been guidelines established around technical certifications, training and some education that Claroty wanted to see its partners bring to the table.
Norwegian MSP Crayon has had a gross profit growth of 31 per cent in its first quarter thanks to high demand for software and cloud services.
Crayon CEO Melissa Mulholland said while the global tech market continued to be impacted by the challenging macroeconomic climate, the company’s core business model helped its resiliency.
Adjusted EBITDA increased 50 per cent to £13.5 million, reflecting a margin of 14.7 per cent.
Operating profit increased to £4 million from £3.4m in the same quarter of the previous year.
“We see a strong demand for optimisation and innovation across all our markets, and our customer centricity ensures we can deliver on those demands,” Mulholland said.
Across Europe, YOY gross profit growth increased by 53 per cent, for the Nordics it was 26 per cent, the US was up by 25 per cent and Asia Pacific, the Middle East and Africa was 21 per cent.
UK-based distributor Westcon-Comstor has announced an 18.3 per cent year on year increase in total revenue to $3.42 billion for 2023.
The company said its good numbers were driven by strong demand for cybersecurity and networking , and an acceleration in its shift to a software and subscription-based recurring revenue model.
This is the second consecutive year that the company has reported double-digit growth. Westcon-Comstor also said it’s the first time that revenue has exceeded $3 billion, with CAGR of eight per cent.
Revenue from cybersecurity solutions was up 17 per cent yearly to $1.33 billion, while, revenue from its networking portfolio increased by 19 per cent to US$1.76 billion.
The company’s earnings results for the year ending 28 February 2023 show a 21 per cent year on year increase in Adjusted EBITDA profit to $95.1 million.
Security outfit Cohesity has announced an expanded partnership with Google Cloud to help organisations unlock the power of generative AI and data.
Cohesity also unveiled Cohesity Turing, a unique, comprehensive, and rapidly evolving set of AI technologies that brings the power of AI to data security and management.
The company said the expanded partnership with Google Cloud and Cohesity Turing will enable organisations to leverage their entire data estate through a single, secure workflow across on-premises, multi-cloud, and edge environments.
Cohesity wants to extend its AI-ready data security and management platform — Cohesity Data Cloud — to work closely and have deeper integrations with leading cloud services, including Vertex AI, Google Cloud’s fully managed ML (machine learning) platform designed to help companies to accelerate the deployment of ML and AI models.
It believes that combining Cohesity’s data security and management capabilities and Vertex AI will enable joint customers to gain new insights into the same data they’re already securing and managing on Cohesity’s platform. Through this integration, customers couldquickly search across exabytes of data to gain insights into data patterns, like finding anomalies in their data to detect threats, or find answers to very specific questions, or quickly recover data using contextual searches.
Google Cloud CEO Thomas Kurian said that Vertex AI was one of the best platforms for building, deploying, managing and scaling ML models – and we’re excited that Cohesity is joining our growing open ecosystem to help more customers get value from their data via AI.
“Cohesity’s excellent data security and management capabilities, combined with Google Cloud’s powerful generative AI and analytics capabilities, will help customers get exceptional insights into their backup and archived data.”
Cohesity CEO Sanjay Poonen said businesses need to be able to easily get rapid insights from their data utilising cutting-edge and leading AI/ML models.
“We agree with Google that AI must be handled securely and responsibly. With our unique platform, Cohesity not only provides phenomenal search via our built-in indexing capabilities, but robust security protocols to help customers maintain control and privacy of their data at every turn.”
Creating Unprecedented Efficiency and Insights Via Cohesity Turing
AI, automation, security and software-as-a-service (SaaS) is attracting a lot of interest according to the latest report from Sage
Sage’s Partnering for success: State of the IT channel ecosystem report said that AI is taking centre stage thanks to rising customer interest.
The supplier found that along with AI and automation, security and software-as-a-service (SaaS) applications are also in strong demand, and areas yielding revenue for the channel both now and increasingly in the future.
The expectation from many partners (47 per cent globally) is that the interest in AI will only accelerate. That has left many in the position of bolstering their skills to be able to support that growth.
Sage found the channel was using more AI and automation tools to improve their own businesses, and that was also driving increased interest and a demand for skilled staff, with almost half of UK respondents recruiting staff with skill sets in AI and machine learning.
Security is already a well-known revenue-generating area, and there are also signs there will be no slacking of the pace on that front, with 39 per cent of UK partners indicating it remains a vital source of growth for their organisation and customer pipeline. There were also high rates of demand for data privacy tools and services.
Biggish Blue has written a cheque for Polar Security as part of a cunning plan to automate cloud data protection.
Founded in January 2021, Polar Security is a data security management solution (DSPM) developer which has all the gear to reveal where sensitive data is stored, who has access to it, how it’s used, and identifies vulnerabilities.
IBM says it plans to integrate Polar Security’s DSPM technology within its Guardium family of data security products.
IBM’s focus has been rapidly shifting towards automation in the last few months, proudly saying it was taking the “human” out of some human resources and other back-office jobs that AI and automation can do instead of people.
IBM CEO Arvind Krishna said he plans to suspend or slow hiring for about 26,000 non-customer-facing back-office roles, a tenth of the company’s total workforce.
Krishna said he “could easily see” 30 per cent of those roles – 7,800 jobs – replaced by AI and automation over the next five years.
Innovation Park CEO Julia Vorontsova says that the Telecom industry is about to be dramatically shaken up as new technology like AI, IoT, and 5G make lasting changes.
Vorontsova said that last week’s announced plans by Vodafone to slash nearly half its staff over the next few years was part of what would become a new era.
“ The telecom industry is on the cusp of a new era marked by AI, IoT, and 5G. Companies must adapt or risk becoming obsolete. While unfortunate for those affected, this restructure signifies a company gearing up for the future,” said Vorontsova.
Happy man portrait
CEOs asked by analyst outfit Gartner do not seem to have many fears about an economic downturn or recession in 2023, believing that if it happens, it will be “shallow and short”.
Analyst house Gartner surveyed over 400 CEOs and other senior business executives worldwide from July through December 2022.
Researchers found that AI was the top technology CEOs believe will significantly impact their industry over the next three years, cited by 21 per cent of survey respondents.
Big G analyst Mark Raskino said that generative AI will profoundly impact business and operating models.
Kyndryl, the world’s largest infrastructure services provider, began trading as an independent company under the symbol KD from the New York Stock Exchange, Thursday, November 4 in NYC. (Jon Simon/Feature Photo Service for Kyndryl)
IBM global infrastructure service provider spin-off, Kyndryl suffered terribly at the hands of Wall Street after it released some miserable results.
The company’s stock sank more than 12 per cent Wednesday, with shares closing at $12.53 and its market cap at $2.85 billion.
The company published guidance for fiscal 2024 revenue expected to fall six per cent to eight per cent compared to its fiscal 2023 revenue, with positive revenue growth not expected until fiscal 2025.
Kyndryl reported revenue of $4.26 billion, which beat analyst expectations by $110 million, but its GAAP loss per share of $3.24 was $2.21 per share below expectations.
BT Group wants to reduce its workforce by 40,000 to 55,000 employees by the decade’s end.
The upcoming layoffs at BT Group will affect direct BT employees and third-party contractors, resulting in a reduction of 31-42 per cent in the company’s overall staffing.
The move comes as the company finalises its nationwide fibre-optic deployment and adapts emerging technologies like AI.
BT employs 130,000 people, including third-party contractors, but after the axeman has finished his work, this figure will be 75,000-90,000 individuals.
CEO Philip Jansen has been reducing headcount as part of his efforts to increase profitability in recent years. The aim is to achieve annual savings of £3 billion by the end of 2025, compared to the company’s cost base in 2020. BT says it has successfully attained £2.1 billion in cost savings out of its £3 billion target.
UK retailers are upgrading their tech to offset a loss of a third of their customer base as the cost-of-living crisis bites.
New research from Ensono was based on a survey of 500 senior IT decision-makers working in UK retail, which revealed retailers feeling the strain of rising prices and the worsening cost-of-living crisis.
It found department store brands expect to lose an average of 32 per cent of customers – the most significant drop across the different areas of retail surveyed.
August 12th, 2024
August 12th, 2024
August 12th, 2024
August 9th, 2024
August 9th, 2024
August 12th, 2024
August 12th, 2024
August 12th, 2024
August 9th, 2024
August 9th, 2024