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Right when we thought <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> would bring in some new innovations in the mobile phone segments, we got the news that they are eyeing the enterprise space now. The news was revealed yesterday, by Anuj Jain, Senior Vice President, Enterprise Business, Samsung India Electronics. He said, “In 2015, Samsung will continue to achieve positive growth for the <keyword id="2370029" type="ORGANIZATION" weightage="20" keywordseo="enterprise-division">enterprise division</keyword>, by providing our customers with innovative products and solutions that will help them discover a world of possibilities for their businesses.” 
 
 
This sudden shift in priorities (of shifting to enterprise segment) has nothing to do with the recent reports that claimed Samsung as the number 2 in the smartphone segment in India—the company refuted the claims by citing Gfk numbers and the opinions are still divided. “What really compelled us to get aggressive in the enterprise business is the ‘demand’ and ‘opportunity’ that exists in this market,” revealed Anuj in an exclusive interview with Business Insider, India. Sukesh Jain, Vice President—Enterprise Business further spruced up the information by sharing the numbers they aim to achieve in this segment. He told BI India that, “Samsung, as an organization, has taken on an objective that by 2020, 30% of our businesses globally should be enterprise business by 2020. And we aim to achieve the same growth in the Indian market as well by delivering efficient and robust solutions for businesses.” 
 
Shifting priorities coz… 
Now, this target for Samsung, which is primarily a ‘consumer-focused’ organization for most of us, brings in an interesting twist for the consumers and a ‘big’ challenge for the company itself. How would they do it? Will they run campaigns? Will they strategize new plans to achieve the milestone they have set for themselves? What we could gather from the interaction we have had with Samsung’s Enterprise Division heads, Anuj and Sukesh, it seems they are still planning their strategy for the game. Three pivots they have zeroed on to expand their enterprise business are: their salesforce, wide distribution network and the vast experience they have in the product &amp; solution space. “The idea is to utilize the entire product range we have to build an ecosystem which organizations can leverage to turn on their business,” explained Sukesh. 
 
Mini-goals devised for big results 
At yesterday's event, Samsung made it clear that it will leave no stone unturned to achieve the milestone they have set for 2020 by announcing a slew of products in the enterprise category. While on one hand they introduced Galaxy Tab Active, a ruggedized tablet developed for business environment with productivity enhancing functionalities and reinforced security), on the other hand they have introduced Signage TVs, using which organizations can divide the display screen in multiple sections and show from promotional banners to menus in a stress-free and convenient way. 
 
made us more curious to know what would be Samsung’s key focus industry segments, and Sukesh shared an interesting statement with us. “Education, Government and banking would be our top three areas, and they would constitute 50% of the enterprise business that we would like to do.” 
 
For this, Samsung is also planning to build products that can simplify banking, revolutionize education and streamline the government’s digital initiatives. But only time will tell, how far Samsung would reach with its plans. 
 
 
(Image: www.mpull.com)

Look who's going bullish in the enterprise segment? Samsung

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image"><a title_source="YouTube via MobileGeeks.de" title_caption="Samsung showcased these flexible displays in 2010." class="zoomin" href="https://static-ssl.businessinsider.com/image/546b8ac06bb3f76821300542-960/samsungflexiblephone.png"></a><a href="https://www.youtube.com/watch?v=dY_ADCTBKVE">YouTube via MobileGeeks.de</a>Samsung showcased these flexible displays in 2010.</div></div>Samsung has been working on bendable screens for smartphones over the past few years, but the company is now promising that display technology will be ready to arrive in real products starting next year.
At Samsung's Investor Forum in New York, the company revealed these displays will be so bendable that they can actually fold in half, <a href="http://www.zdnet.com/samsung-to-launch-flexible-display-cut-smartphone-models-in-2015-7000035894/">according to ZDNet.</a>
Specifically, Samsung says it will be making between 30,000 and 40,000 flexible displays per month by the end of 2015. The first device to use this bendable technology will launch by the end of next year, but Samsung says that "nothing has been decided on the finished product."
There's an important difference between flexible and bendable.
Phones such as Samsung's Galaxy Note Edge, Galaxy Round, and LG G Flex have screens that are slightly curved, which supposedly offers a few benefits such as the ability to see notifications when the screen is turned off and a more ergonomic design that fits into your pocket more easily.
Based on the way Samsung is describing its newer technology, however, it sounds like you'll be able to actually fold and bend future phones. Of course, developing a bendable screen is only half the battle - manufacturers still need to find a way to make processors, batteries, and all the other components inside smartphones flexible too. <a href="http://www.cnet.com/news/lg-to-launch-flexible-batteries-is-bend-the-new-black/">LG </a>and <a href="http://www.digitaltrends.com/wearables/samsung-flexible-battery/">Samsung</a> have both already started working on batteries that can bend and fold. 
So why would you want a bendable smartphone? It's unclear if this will actually prove to be useful or just gimmicky, but in theory the ability to fold it could make it more compact and durable.

Samsung Will Release A Crazy, Bendable Smartphone Next Year

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Marissa Mayer will be replaced as Yahoo's CEO after Verizon's acquisition of the company closes, Yahoo announced in a <a href="https://investor.yahoo.net/secfiling.cfm?filingID=1193125-17-79182&amp;CIK=1011006">regulatory filing Monday</a>.Mayer will receive a severance package worth about $23 million, the filing says.Yahoo's new CEO will be Thomas J. McInerney, the former CFO of IAC. Yahoo's CFO Ken Goldman will also step down after the sale closes. He'll be replaced by Alexi Wellman.Mayer and Goldman will continue to serve as CEO and CFO, respectively, until the deal closes.Previously, Yahoo announced that Mayer would step down from the company's board after the sale to Verizon. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-iphone-taking-samsung-galaxy-8-features-2017-3">Apple is turning the next iPhone into a Samsung Galaxy phone</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="UxOG40YTE69ZuVeV3bo9jk6EWDRa_3gd" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Marissa Mayer will step down as Yahoo's CEO after the Verizon deal closes

<keyword id="135365" type="General" weightage="50" keywordseo="samsung-electronics" source="Orion">Samsung Electronics</keyword> new Chairman <keyword id="804640" type="General" weightage="20" keywordseo="lee-jae-yong" source="Orion">Lee Jae-yong</keyword> called on employees on Thursday to rise up to challenges and to focus more on technology development. "Now is time for us to mount more bold challenges. Our survival depends on future technologies," he said in a message posted on the company's internal forum soon after he was promoted to chairman of the tech giant, the crown jewel of the group. "We can turn this crisis into opportunity... I will stand at the forefront" of the campaign to make <keyword id="10591" type="General" weightage="80" keywordseo="samsung" source="Orion">Samsung</keyword> a greater company "beloved" by consumers around the world, <keyword id="3176" type="General" weightage="100" keywordseo="lee" source="Orion">Lee</keyword> said. His promotion was endorsed at a board meeting earlier in the day, the company said, considering "an urgent need for stable management and leadership amid the deteriorating global business environment," reports Yonhap news agency. Lee started working at the tech firm in 1991 and was promoted to vice chairman in 2012. His late father <keyword id="208877" type="General" weightage="20" keywordseo="lee-kun-hee" source="Orion">Lee Kun-hee</keyword> served as Samsung Electronics chairman until he died two years ago and the position had since been vacant. The promotion had been widely expected among industry watchers after he was given a presidential pardon in August for his conviction in a bribery case involving former President Park Geun-hye. With the new title, Lee's leadership will be put to the test at a time when the tech giant has been trying to navigate mounting challenges from macroeconomic woes and slowing businesses. Samsung Electronics earlier in the day reported a sharp decline in profits for the third quarter, as the semiconductor business has slowed significantly following the pandemic-fueled boom that boosted the chipmakers' top and bottom lines for the past few years. A difficult road lies head for the tech giant in the coming months and well into the next year, amid growing economic uncertainties and fears of a recession. Adding to the challenges, Lee's legal battle is yet to be over. He is currently standing trial over the 2015 merger of two Samsung affiliates and alleged accounting fraud at the pharmaceutical unit Samsung Biologics. The merger and fraud are widely seen as key steps to strengthen his grip on the group. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indias-it-giants-are-worried-about-moonlighting-employees-sharing-their-corporate-secrets/articleshow/95077652.cms">India’s IT giants are worried about moonlighting employees sharing their corporate secrets</a> <a href="https://www.businessinsider.in/tech/news/the-1338-crore-fine-is-just-the-tip-of-the-iceberg-as-cci-orders-google-to-take-several-measures-to-curb-its-anti-competitive-behavior/articleshow/95012606.cms">The ₹1,338 crore fine is just the tip of the iceberg as CCI orders Google to take several measures to curb its anti-competitive behavior</a> <a href="https://www.businessinsider.in/tech/news/apple-ipad-10th-gen-ipad-pro-and-apple-tv-4k-launched-in-india-price-specs-and-everything-you-need-to-know/articleshow/94958900.cms">Apple iPad 10th gen, iPad Pro, and Apple TV 4K launched in India – price, specs, and everything you need to know</a>

Time to mount more bold challenges, says Samsung's new chairman Lee Jae-yong

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Verizon on Wednesday <a href="http://www.verizon.com/about/news/verizon-deliver-5g-service-pilot-customers-11-markets-across-us-mid-2017" target="_blank">said</a> that it will start offering "pre-commercial" 5G service to certain customers in 11 US cities sometime in the first half of 2017.The affected cities include Dallas, Denver, Houston, Miami, Atlanta, Seattle, Washington D.C., Sacramento, Ann Arbor, Bernardsville, NJ, and Brockton, MA.&#xa0;Verizon says it will choose&#xa0;customers for its pilot 5G program "based on their proximity to newly built [5G equipment] sites which will evolve throughout the year." The company says it expects the number of pilot customers to be in the "mid-hundreds."Verizon initially said it had begun testing its version of 5G service last July, but Wednesday's announcement edges toward the first time the company will make it available to the public in some fashion.Rival carrier <a href="http://www.businessinsider.com/att-will-begin-new-tests-of-its-5g-networks-2017-1" target="_blank">AT&amp;T announced</a> in January it would begin limited trials of its 5G service later this year, too.We say "its version of 5G" above&#xa0;because there is no universally accepted standard for 5G&#xa0;technology yet. It's generally assumed that the next-generation service will include faster speeds than today's LTE standard and aim to better connect&#xa0;the Internet of Things. The FCC has started the process of making wireless spectrum available for "5G" use, too. But it's still more of a concept than a finished product right now.What Verizon is calling 5G here is a preliminary standard it helped develop as part of its <a href="http://www.5gtf.org/" target="_blank">Verizon 5G Technical Forum</a>, a group formed in 2015 that includes chipset and software makers like Cisco, Ericsson, Intel, Qualcomm, Samsung, LG, and Nokia. That tech&#xa0;aims to provide faster and smoother connections than 4G either way, but Verizon is hoping its moves here can influence what genuine 5G might look like.Verizon says that its Forum partners are "well on their way" to commercializing chipsets and devices that will use its spec, but it has <a href="http://www.fiercewireless.com/wireless/verizon-has-deployed-fixed-5g-gear-10-u-s-cities-but-it-may-not-adhere-to-3gpp-standards" target="_blank">previously noted</a> that it may&#xa0;have to update the 5G equipment it plans to deploy to adhere to the eventual universal standard.The other big caveat here is that the program&#xa0;won't include truly mobile internet service. Instead, it'll aim to provide a fixed wireless replacement for home and office connections that may rely on cables.Nevertheless, while we're still years away from true 5G being a part of everyday life, the announcement is another reminder that the day is coming in some form or another.&#xa0;<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/lowell-mcadam-explains-why-verizon-bought-aol-ignition-mobile-2015-12">Verizon CEO Lowell McAdam explains why he bought AOL</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="pmcmpleTrByLm2ktqdyFSsjV6_32Ok2j" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Verizon will begin early tests of its '5G' service later this year

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersUber CEO Travis Kalanick.</div></div></div>Good morning! Here's the tech news you need to know to start your week.1. <a href="http://www.businessinsider.com/r-crowd-chants-modi-modi-as-india-pm-winds-up-silicon-valley-tour-2015-9?IR=T">Indian Prime Minister Narendra Modi toured Silicon Valley this weekend.</a> He visited Facebook, Google, and Tesla, and Apple's Tim Cook also came to see him.2. <a href="http://uk.businessinsider.com/google-nexus-5x-6p-rumors-release-specs-2015-9">It's Google's big Autumn event on Tuesday.</a> We're expecting to see two new phones, a new version of Google's Chromecast streaming dongle and Android Marshmallow, the latest version of the company's mobile operating system.3. <a href="http://uk.businessinsider.com/r-facebook-eyeing-tv-dollars-rolls-out-new-ad-products-2015-9">Facebook is going after TV advertisers.</a> On Sunday, it released a bevy of new products for advertisers for Facebook and Instagram.4. <a href="http://uk.businessinsider.com/google-antitrust-us-android-report-2015-9">Google is reportedly facing antitrust scrutiny in the US over Android.</a> It's similar to the ongoing European Commission investigation into Google in Europe.5. <a href="http://uk.businessinsider.com/mark-zuckerberg-united-nations-speech-2015-9">Mark Zuckerberg wants everyone in the world to be on the internet by 2020.</a> The Facebook CEO announced the lofty ambition at a United Nations forum on Saturday.6. <a href="http://www.businessinsider.com/uber-making-its-biggest-bet-on-china-2015-9">Uber is making its biggest bet yet in China.</a> It's launching UberCommute, a product it describes as "carpooling at the press of a button."7. <a href="http://www.nytimes.com/2015/09/27/world/americas/mark-zuckerbergannounces-project-to-connect-refugee-camps-to-the-internet.html?smid=tw-nytimes&amp;smtyp=cur">Mark Zuckerberg announced a project to connect refugee camps to the internet.</a> The New York Times reports that the Facebook CEO did not elaborate on how it would work.8. <a href="http://uk.businessinsider.com/samsung-cheaper-galaxy-s6-switch-iphone-2015-9">Samsung has a new plan to persuade customers to switch from the iPhone.</a> It will pay monthly installment bills until 2016, and offer switchers a $100 (£66) Google Play gift card in the US.9. <a href="http://uk.businessinsider.com/vinyl-sales-do-better-than-free-streaming-services-2015-9">Vinyl sales generate more revenue than free Spotify, YouTube, and VEVO streams combined.</a> Streaming generated $168 million (£111 million) for the music industry in the first half of 2015, compared to $222 million (£146 million) from vinyl.10. <a href="http://uk.businessinsider.com/google-india-wi-fi-2015-9">Google plans to bring free Wi-Fi to 400 train stations in India.</a> 100 stations will be connected before the end of 2016. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/inside-the-insane-life-of-sean-parker-napster-facebook-2015-8">Inside the insane life of Facebook billionaire Sean Parker</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="djYXZ4djo8F4ptbDwldBI28l1PG-kk1B" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things in tech you need to know today

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Justin Sullivan/GettyAndreessen Horowitz partner Marc Andreessen speaks during the Fortune Global Forum on November 3, 2015 in San Francisco, California.</div></div></div><ul class="summary-list"><li style="font-weight: 400;">Silicon Valley venture capital firm Andreessen Horowitz announced Wednesday it raised $2 billion for its first late-stage venture fund.</li><li style="font-weight: 400;">The firm's newest general partner David George will run the fund, which will specialize in providing funding for companies in Series C to Series G range.</li><li style="font-weight: 400;">The firm also announced Fund VI, a $750 million early-stage fund for <keyword id="6356323" type="UNKNOWN" weightage="60" keywordseo="enterprise">enterprise</keyword>, consumer and fintech investments.</li><li style="font-weight: 400;"><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Andreessen Horowitz, one of Silicon Valley's most high-profile venture capital firms, is shaking things up ahead of its 10th birthday.Wednesday the firm announced it raised $2 billion for its first foray into late-stage investing. Managing Director Scott Kupor wrote in a blog post the fund will be run by new general partner David George and will invest in companies from Series C to Series G stages across a range of industries.Read More: <a href="https://www.businessinsider.com/marc-andreessen-andreessen-horowitz-financial-services-2019-4">Andreessen Horowitz, one of Silicon Valley's most prominent tech investors, is renouncing its status as a venture-capital firm</a>The fund will not be called a growth fund, Kupor wrote, although it will look remarkably similar in practice to <a href="https://www.businessinsider.com/index-ventures-raises-165-billion-for-new-venture-and-growth-funds-2018-7">other growth funds in Silicon Valley</a>. As tech startups <a href="https://markets.businessinsider.com/news/stocks/private-versus-public-company-trends-flashing-warning-sign-goldman-sachs-2019-2-1027956708">stay private longer</a> and later funding rounds have <a href="https://www.businessinsider.com/divvy-raises-200-million-in-third-funding-round-in-less-than-a-year-2019-4">ballooned in size</a>, investors hoping to get in on a round need substantial capital and dedicated teams to do so."In each era, there are a set of companies executing on unusually big visions for emerging categories, and we want these companies to be supported with a venture mindset that supports long-term vision and greater <keyword id="94495" type="ENTERTAINMENT" weightage="60" keywordseo="Innovation">innovation</keyword> risks," Kupor said in the blog post. "For us, growth is about late-stage venture - aimed at great new companies that are just hitting escape velocity, and that may need a more venture-like mindset to support their further company building and scaling," he said.Andreessen Horowitz also announced it has raised $750 million for Fund VI, an early-stage fund for enterprise, consumer and fintech opportunities. The new fund will sit alongside the firm's bio and crypto funds and will have its own dedicated investment team.With these two new funds, Andreessen has raised a total of $10 billion in the last decade, <a href="https://www.axios.com/newsletters/axios-pro-rata-7da98c2a-6ad1-4db1-9089-714ce61d585b.html">Axios' Dan Primack reports</a>. <a href="https://a16z.com/2019/05/01/late-stage-venture/">Read Kupor's full blog post here. </a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/samsung-galaxy-fold-review-first-generation-foldable-smartphone-tablet-2019-4">I tried the $1,980 Samsung Galaxy Fold and it's impressive for a first-generation foldable phone, though far from perfect</a></h3> <div> </div> </div>

Andreessen Horowitz is launching a $2 billion VC fund for later stage startups it thinks have 'unusually big visions'

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Best BuySharon McCollam.</div></div></div>Best Buy <keyword id="53346" type="POSITION" weightage="100" keywordseo="CFO">CFO</keyword> Sharon McCollam was happily retired after a successful run as the CFO at Williams-Sonoma. But in November 2012, at the request of new Best Buy CEO Hubert Joly, McCollam agreed to become the company's new finance chief, despite a very public uphill battle to revive the struggling electronics retailer. Almost immediately it was obvious that Joly's ability to lure McCollam out of retirement was the right decision.She "implemented a rigorous budget; overhauled Best Buy's IT, supply chain, and logistics; and even inspected stores with a 'white glove' dust test," according to Fortune, which recently <a href="http://fortune.com/2015/10/25/best-buy-turnaround/">profiled the company's female-dominated leadership team</a>.On Thanksgiving day 2014, just short of two years after she was hired, the company launched a successful Black Friday sale that helped <a href="http://investors.bestbuy.com/investor-relations/news-and-events/financial-releases/news-details/2014/Best-Buy-Reports-Third-Quarter-Results/default.aspx">increase same-store sales by 2.5%</a>, the company's highest increase in years - despite an electronics industry that was experiencing significant levels of contraction. "This one thing will probably go down in my personal history book as one of the most meaningful things that I ever got to do," McCollam told <a href="http://fortune.com/2015/10/25/best-buy-turnaround/">Fortune</a>. That's an impressive statement from a CFO who had successfully served for years as the finance chief at Dole Fresh Vegetables and then led a massive turnaround at Williams-Sonoma. When she departed Williams-Sonoma, her influence over the company caused its <a href="http://blogs.wsj.com/cfo/2012/03/08/cfos-abrupt-exit-rattles-williams-sonoma/">shares to drop 6%</a>. According to Fortune, before she agreed to become Best Buy's CFO, McCollam visited 75 stores to determine their worst problems. She discovered a company in complete disrepair, from its brick &amp; mortar stores to its wonky website. <div class="KonaFilter image-container display-table"><div><div class="image on-image">SpenA Best Buy shopper takes advantage of Black Friday sale prices.</div></div></div>McCollam held nothing back. Not only did she cut underperforming stores, but private jets were sold, trips to the World Economic Forum in Davos were canceled, and Fortune notes that the company stopped advertising with NASCAR and during the Super Bowl. Even the smallest of details were involved in McCollam's plan. Color printers were removed from the company's corporate office, and Best Buy started making smaller shipping boxes to help cut down on excessive shipping fees for website orders.Those cuts appear to be working. The company "exceeded its cost-cutting goal of $725 million, instead slashing $765 million from its bottom line" in Q4 2014, according to <a href="http://www.forbes.com/sites/maggiemcgrath/2014/02/27/best-buy-shares-popping-7-on-a-return-to-profit-in-fourth-quarter/">Forbes</a>.During her tenure at Williams-Sonoma, <a href="http://www.reuters.com/article/2012/11/12/us-bestbuy-cfo-idUSBRE8AB16R20121112" title="Sharon McCollam">Reuters</a> says she was "instrumental in launching multiple e-commerce websites and new brands, revamping its supply chain and laying the foundation for international expansion."McCollam is also "well regarded widely for her role in scaling back Williams-Sonoma's store base after over expanding before the recession," <a href="http://www.wsj.com/articles/SB10001424127887324439804578113302969910308?alg=y">The Wall Street Journal</a> reports. Best Buy was in desperate need of a restructuring plan that involved store closures at the time of her hire. As Best Buy continues to face off against a growing and increasingly aggressive Amazon.com, her experience in e-commerce shouldn't be understated. As the CFO at Williams-Sonoma, McCollam focused largely on e-commerce. During her last year with the company, 38% of its revenue came from e-commerce, according to <a href="http://www.wsj.com/articles/SB10001424127887324439804578113302969910308">The Journal</a>.While she isn't afraid of growth, McCollam also knows when it's time to refocus a company's efforts. Best Buy pulled out of China in late 2014 and <a href="http://www.reuters.com/article/2013/04/30/us-bestbuy-carphone-idUSBRE93T06820130430">sold its 50% stake in Best Buy Europe</a>, consisting of 2,400 stores, to joint venture partner Carphone Warehouse for $775 million. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersA sign is seen outside the Carphone Warehouse's store on Oxford Street in central London.</div></div></div>"The company believes that its recent exit from some international markets will help it focus more on its core US business," <a href="http://finance.yahoo.com/news/best-buy-reconsiders-international-operations-193301459.html">Yahoo Finance</a> reports. That focus can be seen in several important areas. <a href="http://marketrealist.com/2015/01/best-buy-sees-better-store-sales-3q-2015/">Market Realist</a> examined the company's operations in January 2015 and found that Best Buy is more focused than ever in terms of closing underperforming stores, maximizing inventory levels, reorganizing stores to make shopping more pleasurable, and expanding product selection. With McCollam's financial experience and Joly's leadership skills, the company has expanded its store-inside-a-store model to include Samsung, Microsoft, Pacific Kitchen, and home-theatre provider, Magnolia Design Center. The store-inside-a-store model allows the company to better assist customers with the help of highly trained product specialists who are solely focused on a single brand lineup. Best Buy still has a long way to go, but there has been a marked improvement since Joly and McCollam began working together.Three days before the company's new CFO was hired on November 12, 2012, Best Buy shares were trading at $15.30. As of Monday, shares were trading at $34.79. <div class="KonaFilter image-container display-table"><div><div class="image">Google Finance</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/eddie-murphy-bill-cosby-joke-mark-twain-american-humor-2015-10">Here's the Bill Cosby joke Eddie Murphy did at the Kennedy Center that everyone's talking about</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="N2NzhheDr6bq5xZC8X2mfg2RXPaDSpWw" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Best Buy's best decision in years was luring its CFO out of retirement

<div class="KonaFilter image-container display-table"><div><div class="image">REUTERS/Joshua RobertsU.S. President Barack Obama is shown on a screen as he speaks during the White House Correspondents' Association Dinner in Washington on May 3, 2014. </div></div></div>Good morning! Here's what you need to know.
Chinese manufacturing is contracting. HSBC's China manufacturing PMI climbed to <a href="http://www.businessinsider.com/april-hsbc-china-pmi-2014-5">48.3 in April</a> from 48.0 in March. However, any reading below 50 signals contraction in the industry. "These indicate that the manufacturing sector, and the broader economy as a whole, continues to lose momentum," said HSBC's Hongbin Qu. "Over the past few days, Beijing has introduced more reform measures which could support growth by inducing more private sector investment. We think bolder actions will be required to ensure the economy regains its momentum."
Warren Buffett isn't interested in war. Berkshire Hathaway held its <a href="http://www.businessinsider.com/r-buffett-defends-coke-bnsf-at-berkshire-annual-meeting-2014-03">annual shareholder meeting</a> this weekend. Buffett reminded shareholders that there was "no guarantee" Berkshire would outperform the S&amp;P 500 in every cycle. Regarding his role in Coca-Cola's controversial equity plan, he said it wouldn't have been productive to "go to war" with the board. "I think the best result for the Coca-Cola Company was achieved by our abstention, and we will see what happens in terms of compensation between now and the next meeting of Coke," he said.
Apple wins $120 million from Samsung. Apple won a patent lawsuit against Samsung. However, Samsung will only be paying Apple $120 million, which is <a href="http://www.businessinsider.com/apple-beats-samsung-in-latest-patent-trial-2014-5">far less than the $2.2 billion</a> the company was hoping for. "Today's ruling reinforces what courts around the world have already found: that Samsung willfully stole our ideas and copied our products," said Apple in a statement.
Euro zone inflation is staying low. The European Commission <a href="http://www.bloomberg.com/news/2014-05-05/eu-reduces-euro-growth-forecast-as-inflation-seen-slower.html">reduced its 2015 GDP growth forecast</a> for the euro zone to 1.7% from February's prediction of 1.8%. It also forecasted that the inflation rate would be 0.8% this year and just 1.2% next year.
JP Morgan's 'challenging environment.' On Friday afternoon, JP Morgan Chase filed its latest 10-Q, and in it the bank <a href="http://www.businessinsider.com/jpmorgan-sees-q2-market-revenue-down-20-2014-5">warned its Q2 markets revenue</a> wasn't looking great. "Based on Markets revenue results to date, which reflect a continued challenging environment and lower client activity levels, expect 2Q14 Markets revenue to be down approximately 20%+/- versus 2Q13," said the company. "The Markets revenue actual results will depend heavily on performance throughout the remainder of the quarter, which can be volatile."
Another GM recall. GM is <a href="http://www.businessinsider.com/r-gm-recalls-nearly-52000-suvs-for-inaccurate-fuel-gauge-2014-03">recalling 51,640 SUVs</a>. The recall include 2014 models of the Buick Enclave, the Chevy traverse, and the GMC Acadia. "An inaccurate fuel gauge may result in the vehicle unexpectedly running out of fuel and stalling, increasing the risk of a crash," said the National Highway Traffic Safety Administration.
Economist Gary Becker has died. Becker won the Nobel prize in economics in 1992. "The 82-year old Becker was a pioneer in using the tools of economics to analyze things that are frequently thought to be outside the realm of economics," <a href="http://www.businessinsider.com/gary-becker-on-utopia-2014-5">noted BI's Joe Weisenthal</a>. "This idea of using economics to analyze non-market things seems normal these days (the book "<a href="http://www.amazon.com/Freakonomics-Economist-Explores-Hidden-Everything/dp/0060731338">Freakonomics</a>" was all about this, and was a huge blockbuster). But when Gary Becker started doing this it was novel. And he truly taught people to see the world in new ways."
India makes the cover of Barron's. As 800 million Indians head to the polls in history's largest-ever election, <a href="http://online.barrons.com/news/articles/SB50001424053111903843804579533663172522346">Barron's Jonathan Laing</a> offers a bullish picture assuming Gujarat's Narendra Modi wins. "Modi's governance style flies in the face of Indian tradition, which has featured backroom business deals in exchange for kickbacks to circumvent the prospect of endless bureaucratic delays," wrote Laing. "Bidding on government contracts in Gujarat is done on the Internet, not over tea. Modi also has embraced privatization of key sectors like ports, water, and power, which is unusual in most of India's 28 state governments and in Delhi, where a dreamy Congress Party's predilection for socialism still holds sway despite the ideology's many failures in India since independence in 1947."
Pfizer earnings beat. Pfizer said its Q1 revenue fell 9% year-over-year to $11.35 billion. <a href="https://finance.yahoo.com/news/pfizer-reports-first-quarter-2014-110000000.html">Adjusted earnings came in at $0.57</a>, which was a bit higher than the $0.55 expected by analysts.
An update on American services. Later this morning, we'll get <a href="http://www.businessinsider.com/monday-scouting-report-may-2-2014-2014-5">two U.S. services industry reports</a>. First, we get Markit's services PMI report at 9:45 a.m ET; economists estimate the headline fell to 54.5 in April from 55.3 in March. At 10:00 a.m. ET comes the ISM non-manufacturing index; economists estimate ISM's index increased to 54.0 in April from 53.1 in March. "Early readings on the service sector for April, including the Richmond Fed survey and the flash reading of the Markit services PMI, pulled back slightly for April, but remained in positive territory," noted Wells Fargo's John Silvia.
Markets around the world are in the red. Asian market closed lower. European markets are in the red. And U.S. futures are predicting a down day.
***
Below is a Q&amp;A Business Insider's Rob Wile had with Branko Milanovic, a former World Bank economist and now a visiting professor at CUNY.
***
BUSINESS INSIDER: You appear to have been the first to review Piketty in English. How did that come about? Was there much competition to capture that byline?
BRANKO MILANOVIC: I knew that his book was about to be published and when I was in Brussels last September, I remembered that, went to a bookstore and bought Piketty's book just a couple of days after it came out in Paris. It was very prominently displayed in the bookstore. Piketty was already then very well known economist, many of the ideas discussed in the book were in some ways presented by him earlier, and there was quite a lot of anticipation "in the air." I read the book very quickly, probably in less than 3 weeks. It was an extremely impressive piece of work; it went beyond the already high expectation that I had. There was no doubt in my mind that it is one key books of the last several decades. So I wrote the review very quickly. The first draft was ready I think by mid-October. There was not much competition because I read the book so early, in French, and the timeliness of my review "competed" with French reviews of his book, not with American.
However, having said all of that I must confess that I did not expect that the reception of the book and his ideas would be so overwhelming. I do not think Piketty himself expected it. I don't think that anyone could have imagined that within a month of its publication in the United States the book would be No. 1 of all books on Amazon. 
BI: We've since been inundated with Piketty reviews. Whose have you been most impressed by?
BM: There were many excellent reviews. The ones I remember in particular were reviews by Robert Solow in The New Republic <a href="http://www.newrepublic.com/article/117429/capital-twenty-first-century-thomas-piketty-reviewed">http://www.newrepublic.com/article/117429/capital-twenty-first-century-thomas-piketty-reviewed</a>,
Paul Krugman on his blog and The New York Review of Books <a href="http://www.nybooks.com/articles/archives/2014/may/08/thomas-piketty-new-gilded-age/">http://www.nybooks.com/articles/archives/2014/may/08/thomas-piketty-new-gilded-age/</a>,
Robert Skidelsky in the Prospect Magazine <a href="http://www.prospectmagazine.co.uk/magazine/book-review-capital-in-21-century-thomas-piketty/#.U2bsBCiHhac">http://www.prospectmagazine.co.uk/magazine/book-review-capital-in-21-century-thomas-piketty/#.U2bsBCiHhac</a>. 
I also liked Doug Henwood's review published on Book Forum <a href="http://www.bookforum.com/inprint/021_01/12987">http://www.bookforum.com/inprint/021_01/12987</a>.
 A very nice review and discussion of some of Piketty's points is by Brad DeLong. <a href="http://equitablegrowth.org/2014/04/12/notes-finger-exercises-thomas-pikettys-capital-twenty-first-century-honest-broker-week-april-12-2014/">http://equitablegrowth.org/2014/04/12/notes-finger-exercises-thomas-pikettys-capital-twenty-first-century-honest-broker-week-april-12-2014/</a>
BI: What seem to you to be the most important critiques of Piketty's thesis?
BM: Leaving aside the critiques of Piketty's proposal for global taxation of capital (which are easy to make), the most serious critiques, in my opinion, are two: whether the rate of return on capital will remain higher than the growth rate of the economy despite a very large increase in the capital/income and capital/labor ratios, and Piketty's lack of attention to the rise of China, India and other emerging market economies that can, in my opinion, keep the global rate of growth at a rather high level for a century or so.
BI: Are there any misconceptions bout his findings that have started floating up that need to be nipped?
BM: I believe that some of the left-wing critiques that question the definition of capital used by Piketty are misplaced. To me his definition that includes housing together with the "productive capital" makes lots of sense. Piketty clearly says that he treats all forms of assets that yield an explicit or implicit income (owner-occupied housing yields an implicit income) as capital. That's both sensible and simple. So I do not see the point in the critiques.
Similarly, the right-wing critique that Piketty's ideas are driven by some kind of distaste for capitalism, or envy towards the rich, are, to be a bit harsh, pure nonsense. It is also meaningless to defend high incomes by invoking supposed high productivity of extremely well-paid executives or financiers, or to argue that their spending is needed to maintain aggregate demand. Surely, if maintaining high aggregate demand were a key objective, redistribution in favor of those who are poorer would be good for it because the poor spend a higher percentage of their income than the rich.
BI:For the true Piketty devotee, what's the next work of his - translated or not - that they should seek out?
BM: I don't know what would be his next book. But it seems to me that his work will first, extend in a policy area toward implementation of some form of international cooperation regarding taxation of capital, second, expand the already formidable database on top incomes that Piketty and his coauthors have created, and thirdly, do research on new topics like fiscal evasion. True worldwide inequality may be much greater than what we currently believe if we were able to account for hidden wealth.

10 Things You Need To Know Before The Opening Bell

<ul><li>The <keyword id="69007" type="General" weightage="20" keywordseo="world-economic-forum" source="Orion">World Economic Forum</keyword> has picked ten breakthrough technologies that show promise for the future. </li><li>Flexible batteries, <keyword id="15777223" type="General" weightage="20" keywordseo="generative-ai" source="Orion">generative AI</keyword>, <keyword id="7931350" type="General" weightage="20" keywordseo="sustainable-aviation-fuel" source="Orion">sustainable aviation fuel</keyword>, wearable sensors for plants and <keyword id="432748" type="General" weightage="20" keywordseo="green-computing" source="Orion">green computing</keyword> are some of them. </li><li>Many other biological breakthroughs like designer phages, metaverse for mental health, brain-machine interfaces and more have made it to the list. </li></ul>The world is changing fast with new dangers and permacrisis afoot. However, the good news is that a number of breakthrough new technologies are working to make it a better place. The World Economic Forum has picked ten such for 2023 — right from deep biology that can look into the cells to flexible batteries that can be twisted, bent and stretched. To make it to this coveted list, the technologies must offer promising major benefits to societies and economies, be disruptive, attractive to investors and researchers; and expected to have achieved considerable scale within five years. “New technologies have the power to disrupt industries, grow economies, improve lives and safeguard the planet – if designed, scaled and deployed responsibly,” said Jeremy Jurgens, Managing Director, World Economic Forum and Head of the Centre for the Fourth Industrial Revolution. In the past, the WEF has picked many such winners — like the genetic-engineering tool CRISPR-Cas9 which was featured in 2015, went on to win the Nobel Prize five years later. “It is now being used to create insect and drought-resistant crops in harsh growing conditions around the world,” said Jurgens. Messenger ribonucleic acid (mRNA) vaccines, earned their place in the 2017 report, became the technology underpinning the majority of Covid-19 vaccines protecting lives worldwide. AI-led molecular design made it onto the 2018 list. Since then, Deepmind’s AlphaFold predicted the structure of 200 million proteins, and the first AI-discovered drugs have entered clinical trials. Let’s look what technologies made it to this year’s list: Flexible batteries: Bend, twist &amp; stretch The world is going flex – with rollable computer screens to smart clothing. And the systems that power them should be so too. Flexible batteries, made of lightweight materials that can be easily twisted, bent or stretched, will soon hit the market and make standard rigid batteries a thing of the past. “The rapidly escalating development of wearable devices, flexible electronics and bendable displays demand power sources that match the agility of these systems,” the report says. One study forecasts that the global flexible battery market will grow by $240.47 million from 2022-2027, accelerating at a compound annual growth rate (CAGR) of 22.79%, says WEF. Several companies like LG Chem, Samsung SDI, Apple, Nokia are are actively developing and commercialising flexible battery technology. Generative AI: Sparring partner to conventional thinking Imagine an algorithm that can draw the image that a human holds in his mind? That’s one example of the boundless potential of generative AI which can design drugs, aid in architecture and engineering — in addition to what ChatGPT does. NASA engineers are working to use this technology to build lightweight spaceflight instruments. But this technology needs to build something more, trust. “To build public trust in generative AI, applications should meet agreed-upon professional and ethical standards. Care should be taken to mitigate AI bias based on training data, with a focus on including “outlier” data and novel societal conventions,” WEF says. It should also address copyright attribution and more. With correct controls, generative AI can demonstrate the boundaries of knowledge, and act as a sparring partner to challenge conventional thinking. Sustainable aviation fuel: Moving up, with challenges ahead The road-bound cousins of aeroplanes – cars, bikes and more are going green at a rapid pace. However, the cost of making the aviation sector, which contributes to 2-3% of CO2 emissions annually, is enormous. Enter sustainable aviation fuel (SAF) that’s produced from biomass, and non-biological resources. Now it makes up for 1% of the global jet fuel demand, but must rise to 13-15% by 2040, WEF says. “Such an increase will require the creation of 300-400 new SAF plants; and airlines, manufacturers and fuel companies are working around the clock to enable this level of scale,” the report says, adding that availability and collection of raw materials, along with the need for sustainably produced green hydrogen, remain major challenges. Designer Phages: Virus that carry ‘genetic scissors’ Viruses, as scary as they are, can be engineered to benefit humans. Key to this engineering are phages – viruses that selectively infect specific types of bacteria. Upon infection, a phage injects its genetic information into the bacterium. With ‘genetic scissors’, these phages can execute a set of instructions – they can change a bacterium’s functions. It can be made into a therapeutic molecule or to become sensitive to a certain drug and more. “Phages are also being designed as feed supplements to enhance the growth of livestock, treat certain plant diseases and eliminate dangerous bacteria in food supply chains,” WEF says. Locus Biosciences and Eligo Biosciences are using this approach to combat antibiotic-resistant bacteria. Metaverse for mental health: Augmenting connections The Covid-19 pandemic has pushed the mental health crisis to such an extent that the world is falling short of health providers. The conditions are ripe for metaverse-enabled mental health treatment, WEF says. “Maturing interface technologies could further augment social and emotional connections between distant participants,” the report says. Many players are already working on it with gamification and other ways which can also reduce the stigma attached with mental health. Noninvasive neurotechnologies can provide feedback attuned to a user’s emotional state. For example, Neurable headsets use electrodes to measure emotion and can adjust music accordingly. Eventually, the metaverse will also connect to therapeutic neurotechnologies, such as direct brain stimulation to treat intractable depression,” WEF adds. Wearable plant sensors: The new frontier Traditionally, crops have been monitored via soil testing and visual inspections, both of which are expensive and time-consuming. Recent tech advancements have been monitoring crop health via low-resolution satellite data, which has gone on to sensor equipped drones and tractors which provide information. The next frontier is monitoring individual plants – with wearables. “These sensors are small, non-invasive devices that can be attached to crop plants for continuous monitoring of temperature, humidity, moisture and nutrient levels,” the report says. Growvera and Phytech have developed micro-sized needle sensors that insert into a plant’s leaves or stems to measure changes in electrical resistance, but challenges remain in terms of expense and the reading of the data might need specialised expertise. It needs data analytics tools that can help farmers ‘read it’ and make informed decisions. Spatial omics: Unravelling evolutionary secrets Humans are made of millions of cells —- but what happens inside them? Spatial omics might actually help us ‘see’ the biological processes, how they work in detail that was unprecedented before. A spatial omics study of samples from people who died from Covid-19 revealed that SARS-CoV-2 causes widespread disruption of cellular pathways across all tissues. Scientists have also identified a set of neurons that help paralysed mice walk, sooner. But this technology needs to be democratised, WEF believes. It had a total market value of $232.6 million in 2021 and an estimated revenue of $587.2 million in 2030. While academic and translational research centres made up 89% of the market in 2020, the market is dramatically expanding to include pharmaceutical and biotech industries. Flexible neural electronics: Biocompatible now Brain-machine interfaces (BMIs) allow electrical signals the brain produces to be captured by sensor hardware – and are already being used for patients with epilepsy, and create prosthetic limbs connected to the nervous system. But the current implants are made of hard material like chips, which can scar humans and cause substantial discomfort. They cannot bend or adapt to brain movements so, over time, they “drift” in position, decreasing the accuracy. But now researchers developed these circuits on biocompatible materials that are soft and flexible. It can deepen understanding of conditions like dementia and autism; and can also be used to develop cardiac pacemakers and more. But eventually, it holds the potential to true human-AI interfacing – but since the data from the brain is sensitive, privacy and ethical use guidelines must be established. Sustainable computing: Optimism ahead Every time we search on Google, send email or use any form of AI, we are connecting to data centres — which consume an estimated 1% of the electricity produced globally. And, this will only grow. There is no single “green data” magic bullet, but the coming decade will see strides toward net-zero-energy data centres. The first is to use cooling systems to dissipate the heat. Stockholm is using heat from data centres to heat homes. Then, AI itself can come with a solution for the heat it is generating, but analysing and optimising energy use in real-time. DeepMind has successfully demonstrated the potential of AI-powered energy management, achieving up to a 40% reduction in energy consumption at Google’s data centres. Crusoe Energy instals its modular data centres at sites where methane flaring occurs to enable cloud computing infrastructure to be powered by methane gas that would otherwise have been released directly into the atmosphere. “Given the wave of innovation and investment in this area, there is reason to be optimistic about the years ahead,” WEF says. AI-facilitated healthcare: Easing access Ever since the pandemic governments and academic teams alike have been using AI and ML models to improve access to patient care – to cut down the long delays many patients experience. This can aid developing nations in particular. India, for example, has a widely dispersed population of over 1.4 billion and has embraced an AI-based approach to enhance medical outreach. “The Indian government has enabled physicians to engage remote communities through assistive technologies, with requisite privacy safeguards in place,” the report says. However, hurdles to this system remain like patient compliance and national security concerns. “Moreover, any system that curates personal data on the health and welfare of a vast population must function within the bounds of a carefully crafted legal and ethical framework,” WEF says.

Wearables for plants, bacteria eating viruses, and 8 technologies in 2023 that can change the future

The Pixel watch that never was: An inside look at how Google's smartwatch efforts beat Apple to the punch, but then broke down and never recovered

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Alex Brandon</div></div></div>Last night, Apple CEO <a href="http://uk.businessinsider.com/apple-ceo-tim-cook-response-grand-strategy-2016-10">Tim Cook gave a terse, unhappy answer</a> to this question from UBS analyst Steven Milunovich: "<a href="http://seekingalpha.com/article/4014922-apple-aapl-q4-2016-results-earnings-call-transcript?part=single">Does Apple today have a grand strategy for what you want to do</a>?"Milunovich asked the question two different ways, and Cook gave two non-answers, one of which was "as usual, we're not going to talk about what's ahead."There is a reason Milunovich asked that question. It's not merely about Cook's tradition of not giving clues about what Apple will do next. Rather, Milunovich's question was based on a theory by Harvard Business School Professor Clayton Christensen. The theory makes uncomfortable reading for observers of Apple, and perhaps for insiders too.Milunovch published a lengthy, thoughtful note about the theory and how it relates to Apple on October 25, the morning of last night's earnings call.Very briefly, <a href="http://hbswk.hbs.edu/item/clay-christensen-the-theory-of-jobs-to-be-done">Christensen's theory is an attempt to explain why companies succeed</a>. His conclusion is that consumers buy products that complete specific jobs for them. They want to complete "the job to be done." Classicly, this is a restatement of the truism that people don't really want quarter-inch drills, what they actually buy is quarter-inch holes.A good example of this is the iPod. Before the launch of the iPod, consumers who wanted portable music were apparently satisfied by the Walkman and the Discman - even though those devices limited your listening to just a few dozens songs on a cassette or disc. The iPod, by contrast, gave you 1,000 songs in your pocket. Consumers bought the iPod because it solves the job of granting listeners a massively extended portable library of music.Clearly, Apple's products have solved some major jobs for consumers: Macs can do anything. The iPhone is a utility so useful it is difficult to live without. And who knew that a need existed for the iPad in the gap on the coffee table between the laptop and the phone?<h2>"The company seems to be struggling to identify the jobs for Apple Watch and Apple Pay"</h2>But recently, Apple has had difficulty solving new "jobs to be done," Milunovich believes. People don't really need an Apple Watch, and the device's sales reflect that. Apple TV appears to be going nowhere. And the company seems to have <a href="http://uk.businessinsider.com/apple-working-on-car-in-canada-2016-10">backed off making an Apple car</a> from scratch. Milunovich wrote:"Jony Ive's Industrial Design Group has shown a knack for identifying jobs even before consumers know of their need. The iPod's "1,000 songs in your pocket" was an example. Moreover, Apple's functional organization and metrics appear to align with the jobs to be done approach. Still, the company seems to be struggling to identify the jobs for Apple Watch and Apple Pay."<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="World Economic Forum / Wikimedia, CC" title_caption="Clayton Christensen." class="zoomin" href="https://static-ssl.businessinsider.com/image/5810963bdd089541098b48fd-960/1024px-clayton_christensen_world_economic_forum_2013.jpg"></a><a href="https://en.wikipedia.org/wiki/Clayton_M._Christensen#/media/File:Clayton_Christensen_World_Economic_Forum_2013.jpg">World Economic Forum / Wikimedia, CC</a>Clayton Christensen.</div></div></div>Successful companies become successful by solving jobs that need to be done, Christensen's theory goes. This is a less obvious process than it looks.The best example is, perhaps, Stewart Butterfield's Slack. Slack is the workplace chatroom app that is revolutionizing the way offices communicate internally, and - most importantly - replacing a large portion of the useless internal email that companies generate.But Slack was created almost by accident. Butterfield founded his company with a $17 million investment to create an online game called Glitch. The company created a private chatroom for itself so its staff could communicate better as they worked on the game. <a href="http://uk.businessinsider.com/slack-ceo-stewart-butterfield-interview-2015-4">But the game turned out to be a failure</a>. The chatroom, however, turned out to be much more useful so they developed that instead. Now Slack is one of the most important workplace productivity software companies on the planet.Slack solved a "job to be done."<h2>"Do you know what you want to do over the next three to maybe five years?"</h2>With that as the background, Milunovich's exchange with Cook last night looks much more gloomy. Note that Milunovich specifically cites Christensen's "the next job to be done" concept:"Steven Milunovich - UBS Securities: Tim, some investors are antsy that Apple has not acquired new profit pools or introduced a financially material new product in recent years. The question is, A, does Apple today have a grand strategy for what you want to do? I know you won't tell us what it us, but do you know what you want to do over the next three to maybe five years? Or is it more a read the market and quickly react? And B, do you have any sense that we're kind of in a gap period where the technology and arguably what we'd call the next job to be done haven't yet aligned? And so maybe in a couple years, we will see this flurry of new products and it'll sort of match what people want to do, but it's not quite here yet?Tim Cook - Apple: We have the strongest pipeline that we've ever had and we're really confident about the things in it. But as usual, we're not going to talk about what's ahead.Milunovich: But in terms of your approach I guess to new products, do you have a strong sense of where technology is going and where you're going to play? Or is it still enough up the year that you are willing to react fairly quickly, which arguably your organization allows you to do for the size of company you are?Cook: We have a strong sense of where things go and we're very agile to shift as we need to."<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="CNBC / screengrab" title_caption="Steve Milunovich, UBS managing director." class="zoomin" href="https://static-ssl.businessinsider.com/image/5810963bdd089541098b48fe-960/screen shot 2016-10-26 at 12.24.33 1.png"></a>CNBC / screengrabSteve Milunovich, UBS managing director.</div></div></div>Cook, in the past, has talked about "what's ahead" in a way that suggests Apple is trying to find new "jobs to be done."In April 2014, <a href="http://www.businessinsider.com/apple-mobile-payments-e-commerce-2014-4">he hinted that he saw the physical wallet as problem to be solved</a>: "It's an area where nobody has figured it out yet. I realize that there are some companies playing in it, but you still have a wallet in your back pocket and I do too which probably means it hasn't been figured out just yet." After that, Apple launched Apple Pay.In February 2015, Cook suggested that Apple's <a href="http://www.businessinsider.com/apple-and-googles-plan-to-replace-locksand-keys-with-smart-locks-2015-4">Touch ID fingerprint security could be used to replace physical keys</a>. The <a href="http://uk.businessinsider.com/apple-wants-apple-watch-to-unlock-cars-2015-2">Apple Watch is an extension of that</a>. And last night, he said "television has intense interest with me and many other people here ... I think it's a great opportunity for us both from a creation point of view and an ownership point of view. and so it's is an area that we're focused on."So clearly, we cannot read too much into Cook's responses. He sounded tired and subdued on the call last night. Maybe he just had a cold. Maybe he was just sick of being asked "What is Apple going to do next?," a question he must encounter 1,000 times a day.<h2>"Is it reasonable to think that this is an ongoing growing business for the company?"</h2>Now look at this exchange with Antonio Sacconaghi of Bernstein. It's brutal. Sacconaghi is suggesting that Apple can't grow iPhone sales even when its competitors implode and it has extra time to sell them:"Antonio Sacconaghi - Sanford C. Bernstein &amp; Co: I guess a cynic could say Apple is benefiting from an extra week this quarter and is benefiting from Samsung being in complete disarray. And yet from your guidance, it's unclear that iPhone unit growth will be up ... you have terrific new products, your major competitor's laying down, you have an enormous, you have a significant contribution from an extra week, arguably 7% or 8%, and yet the iPhone growth is sort of flattish, what does that really say about how investors should think about iPhone on a sustained basis growing forward? And is it reasonable to think that this is an ongoing growing business for the company?Luca Maestri (Apple's CFO): You're right, we've got an extra few days ... But maybe the most important element of this is the fact that we are supply constrained on 7 and 7 Plus. And so when you talk about other competitors, it's not particularly relevant to us right now because we are selling everything that we can produce."OK, so Apple can't make the iPhone 7 fast enough. But it isn't supply constrained on all its other products - and they're sinking too.This is becoming a theme with analysts.One way to look at Milunovich's question is to regard it as a sea-change amongst analysts who appear to no longer be confident that Apple knows where the next big thing is coming from.Back in September, <a href="http://uk.businessinsider.com/analyst-note-iphone-7-revenues-microwave-liability-apple-2016-9">Colin Gillis of BGC said buying an iPhone</a> "will be like buying a microwave - something people do but not a major event." He called the iPhone a "liability" because Apple was so dependent on it, and because it wasn't growing sales.This is a new, negative environment for Apple, one that Cook is not used to dealing with.It is not surprising he doesn't like it.Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. <a href="http://markets.businessinsider.com/">Go Now!</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/solving-5-problems-become-billionaire-2016-10">Solve one of these 5 problems to become a billionaire</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BpeXNtNjE69ZabtCcDS1JCt4JV0XijNK" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The question about 'grand strategy' that made Tim Cook unhappy on Apple's earning call was based on a Harvard professor's theory that makes uncomfortable reading for Apple

You Searched For "Samsung forum 2015" and got 13 results

Look who's going bullish in the enterprise segment? Samsung

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Samsung Will Release A Crazy, Bendable Smartphone Next Year

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Marissa Mayer will step down as Yahoo's CEO after the Verizon deal closes

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Time to mount more bold challenges, says Samsung's new chairman Lee Jae-yong

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Verizon will begin early tests of its '5G' service later this year

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10 things in tech you need to know today

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Andreessen Horowitz is launching a $2 billion VC fund for later stage startups it thinks have 'unusually big visions'

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Best Buy's best decision in years was luring its CFO out of retirement

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10 Things You Need To Know Before The Opening Bell

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Wearables for plants, bacteria eating viruses, and 8 technologies in 2023 that can change the future

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The Pixel watch that never was: An inside look at how Google's smartwatch efforts beat Apple to the punch, but then broke down and never recovered

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The question about 'grand strategy' that made Tim Cook unhappy on Apple's earning call was based on a Harvard professor's theory that makes uncomfortable reading for Apple

Jim Edwards

Topless dancers, champagne, and David Bowie: Inside the crash of London's $2.7 billion unicorn Powa

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