pandemic

Samsung launches new Note, foldable phone as pandemic shrinks market

SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) unveiled its latest Galaxy Note smartphone and new version of its foldable phone, the Z Fold 2, on Wednesday, hoping to regain ground against rivals Huawei and Apple Inc (AAPL.O) as the smartphone market begins to recover from its COVID-19 slump.

FILE PHOTO: People wears masks in front a Samsung Store at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China February 21, 2020. REUTERS/Aly Song/File Photo

Samsung launched its previous premium model, the S20, in February at the start of the pandemic but since then has ceded its top ranking in the smartphone market to China’s Huawei, as people opt for cheaper models in tough times.

The Z Fold 2 has a 6.2-inch (15.75-cm) screen when folded to provide a full smartphone experience even when it

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Samsung launches pricey new Note as pandemic shrinks smartphone market

FILE PHOTO: People wears masks in front a Samsung Store at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China February 21, 2020. REUTERS/Aly Song/File Photo

SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) unveiled its latest Galaxy Note smartphone on Wednesday hoping to regain ground against rivals Huawei [HWT.UL] and Apple (AAPL.O) as the smartphone market begins to recover from its COVID-19 slump.

Samsung launched its previous premium model, S20, in February at the start of the pandemic but since then it has ceded its top ranking in the smartphone market to China’s Huawei, as people opt for cheaper models in straitened times.

The new Note 20 boasts a larger screen at 6.7 inches (17 cm), 5G connectivity, enhanced writing features with its S-Pen stylus, and access to more than 100 console and PC

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Disney takes $5 billion hit but pandemic impact not as bad as feared

LOS ANGELES (Reuters) – Walt Disney Co (DIS.N) on Tuesday avoided the unmitigated disaster some investors feared as it eked out an adjusted profit amid the coronavirus pandemic that shut down parks, movie theaters and sporting events across the globe.

FILE PHOTO: A smartphone with displayed “Disney” logo is seen on the keyboard in front of displayed “Streaming service” words in this illustration taken March 24, 2020. REUTERS/Dado Ruvic/File Photo

Disney’s quarterly profit of 8 cents per share on an adjusted basis beat expectations for a loss of 64 cents, sending the stock up 5% in after-market trade.

The company took a nearly $5 billion charge due to the pandemic and shifting media habits. COVID-19 wiped out $3.5 billion in operating profit in the parks division.

“The majority of businesses worldwide have experienced unprecedented disruption as a result of the pandemic,” Disney Chief Executive Bob Chapek told analysts.

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Match forecasts sales above estimates as pandemic boosts Tinder’s appeal

FILE PHOTO: The dating app Tinder is shown on an Apple iPhone in this photo illustration taken February 10, 2016. REUTERS/Mike Blake/Illustration/File Photo

(Reuters) – Match Group Inc (MTCH.O) forecast current-quarter sales above Wall Street expectations after beating quarterly estimates, as demand for its online dating app Tinder rebounded during the coronavirus lockdowns.

Tinder added about 200,000 users in the second quarter, taking its average subscribers to 6.2 million, as restrictions to stop the spread of the pandemic limited face-to-face meetings and encouraged more people to use dating apps as an alternative.

The numbers also allayed investor concerns over slowing growth at the company’s flagship product, sending shares 3.2% higher after the bell.

“Despite the pandemic, our user trends like engagement and willingness to pay for our products is up,” Chief Executive Officer Shar Dubey said.

Match had revamped its video calling feature to boost usage during lockdowns

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