Consumer Tech News (Aug 25-Aug 31): Canada Plans To Impose 100% Tariff On Chinese EV Imports, Amazon Launches AI-Powered Shopping Assistant – Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN)

As per a report, Canadian Prime Minister Justin Trudeau announced that Canada would impose a 100% tariff on Chinese electric vehicle imports. In addition, Ottawa will levy a 25% tariff on imported steel and aluminum from China.

A senior ally of Russian President Vladimir Putin claimed on Tuesday that Washington orchestrated the French arrest of Pavel Durov, the founder and CEO of Telegram, a messaging platform essential for communication in the Ukraine war.

Pavel Durov’s arrest has sent shockwaves through Russia and raised global concerns about digital rights and freedom of expression. The arrest was led by Laure Beccuau, a prominent figure in France’s judiciary.

Earnings Results

PDD Holdings Inc. PDD reported fiscal second-quarter 2024 revenue growth of 86% Y/Y to $13.36 billion (97.06 billion Chinese yuan), missing the analyst consensus estimate of $14.02 billion. Adjusted earnings per ADS of $3.20 (23.24 Chinese yuan), beating the analyst consensus estimate of $2.73.

Nvidia Corp. NVDA continued its streak of outperformance as the artificial intelligence stalwart’s second-quarter earnings and revenue outdid expectations.

Gaming

As the release date for Call of Duty: Black Ops 6 rapidly approaches, Microsoft Corp.‘s MSFT Activision has officially announced the minimum and recommended PC specifications for the game.

Sony Group Corporation SONY has launched a new Accessories app for Windows, enabling PC users to customize their PlayStation 5 DualSense Edge controllers.

Read: PS5 Pro Leak Reveals Key Details: What We Know So Far

Arnaud Muller, the European CEO of Bandai Namco Holdings ADR NCBDY is optimistic about the video game industry despite the significant upheaval over the past two years, with an estimated 20,000 layoffs and numerous studio closures.

Steam hits a new record with over 37 million concurrent players, driven by the success of Black Myth: Wukong and other top games.

Social Media, Online Platform & Others

Walt Disney Co. DIS and pay-TV provider, DirecTV, owned by AT&T Inc. T and TPG Capital are currently in contract renewal talks that could reshape the pay-TV landscape.

Amazon.com, Inc. AMZN has announced the launch of its artificial intelligence-powered shopping assistant, Rufus, in India. This comes after Rufus’s successful introduction in the United States six months prior.

HMD Global, the company behind Nokia Corp. NOK-branded phones, has teamed up with toy manufacturer Mattel Inc. MAT to introduce a Barbie-themed flip phone.

The Supreme Court of Brazil imposed a financial freeze on Elon Musk‘s Starlink, a subsidiary of SpaceX. This action is part of an escalating legal dispute that could potentially lead to the suspension of Musk’s social media platform, X, in Brazil.

Technology

Meta Platforms Inc. META has reportedly decided to discontinue the development of a headset intended to rival Apple Inc.‘s AAPL Vision Pro.

Meta has reportedly decided to discontinue its custom chip development for its upcoming augmented reality glasses.

Read: Despite US Limits On China’s Access To Nvidia Chips, Tech Titans Like Alibaba And Tencent Ramp Up AI Investments

Apple is all set to launch the iPhone 16 alongside the new Apple Watch and AirPods at an event on September 10, days after a leaked invite pointed at the possibility.

Ahead of the highly anticipated launch of its artificial intelligence-equipped iPhones, Apple has reportedly increased its orders for new iPhones, signaling strong confidence in its upcoming products.

Apple’s burgeoning operations in India are set to generate around 600,000 jobs by the close of this fiscal year. This surge in job creation is a result of the tech giant’s strategic move to diversify its production from China.

Also Read: Apple Analyst Says ‘Historic’ Upgrade Cycle Will Push Valuation Past $4 Trillion As Cupertino Sets Date For AI-Enabled iPhone Launch

Apple‘s CFO Luca Maestri decided to step down in Jan. 2025, with Kevan Parekh stepping in as part of a planned succession.

Edward Snowden, the well-known National Security Agency whistleblower has criticized the arrest of Telegram founder and CEO Pavel Durov, calling it a violation of human rights.

Also Read: Mark Cuban Asks Elon Musk To Share Source Code Of Algorithm That Decides Reputation, Relevancy, And Similarity Criteria Of Posts On X

Alphabet Inc. GOOG-owned Google Chrome has introduced a new feature for Android users. The update includes a subtle vibration that occurs when users pull to refresh a page.

Google has rolled out a new feature designed to accelerate email replies in Gmail for Android users, enhancing productivity and communication efficiency.

Read: Telegram Founder Pavel Durov’s Arrest In France Sparks Reactions From Ethereum Creator Vitalik Buterin And Tron Founder Justin Sun

Artificial Intelligence (AI)

As the world of artificial intelligence continues to advance, several tech leaders, including OpenAI co-founder and CEO Sam Altman, and Geoffrey Hinton, one of the godfathers of AI, among others, have expressed concerns about the impact of this bleeding-edge technology on jobs.

In a recent development, Anthropic has announced updates to the default system prompts for text-based dialogues on its AI platform, Claude.ai, as well as the Claude iOS and Android applications.

Two former Open AI employees wrote to California’s Governor Gavin Newsom last week expressing their disappointment at the company’s arguments against SB 1047, a bill proposed in California to place safety protocols in the development of artificial intelligence.

NVIDIA-backed Sustainable Metal Cloud has developed technology to cut energy consumption in artificial intelligence data centers by up to 50%.