This week, Techloy covered Lenovo's record revenue and profit figures, Google's Black Founders Fund in Africa program, and Samsung's smartphone sales growth.
Plus, a round-up of the top venture funding deals in emerging markets, with charts that illustrate the stories, curated by @Afolabij1, our latest staff writer.
Here are our editor's picks of the most important technology stories across emerging markets in the past week.
- Chinese phone manufacturers, Oppo, Vivo, and Xiaomi, will cut their smartphone order volume by 20% from July 2022, citing disrupted supply chains and weakened demand as reasons for the supply reduction, amidst coronavirus lockdowns in China.
- Elon Musk’s satellite internet service SpaceX’s Starlink now has more than 400,000 subscribers around the world.
- Samsung’s smartphone sales grew 9% year on year in April 2022, capturing 24% of the global smartphone market, making it the highest monthly market share for the South Korean electronics giant since April 2017, according to Counterpoint Research.
- Chinese technology giant Lenovo has announced record fiscal year results with historic highs in both revenue & profit. The company's annual net income reached $2 billion, up 72% year on year, with revenue growing by $10 billion for the second year running to over $71 billion.
- Google for Startups, a Google initiative giving access to equity-free funding to Black-founded startups in Africa, will be expanding its support for the $4 million Black Founders Fund program with an additional $1 million in funding.
- Consumer spending on video games is expected to reach $222 billion globally in 2022, with mobile gaming accounting for more than 61% of the total, according to IDC and Dataai.
- Chinese ride-hailing giant DidiGlobal’s shareholders have agreed to delist from the New York Stock Exchange, as the company prepares for an Initial Public Offering (IPO) in Hong Kong.