Nov.12 — Min-Liang Tan, co-founder and chief executive officer at Razer, discusses growth prospects in Asia, listing in Hong Kong, their new smartphone, going into the public markets and his outlook for the company. He speaks on “Bloomberg Daybreak: Asia.”
Technology
Uber board strikes agreement to pave way for SoftBank investment
FILE PHOTO: The Uber logo is seen on mobile telephone in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo
By Heather Somerville and Greg Roumeliotis
SAN FRANCISCO/NEW YORK (Reuters) – Uber Technologies Inc’s warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group Corp to proceed, and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.
Venture capital firm Benchmark, an early investor with a board seat in the ride-services company, and Kalanick have reached an agreement over terms of the SoftBank investment, which could be worth up to $10 billion, according to two people familiar with the matter.
The Uber board first agreed more than a month ago to bring in SoftBank as an investor and board member, but negotiations have been slowed by ongoing fighting between Benchmark and Kalanick. The agreement struck on Sunday removed the final obstacle to allowing SoftBank to proceed with an offer to buy to stock.
Uber confirmed the deal was moving forward.
“We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment,” an Uber spokesman said. “We believe this agreement is a strong vote of confidence in Uber’s long-term potential.”
SoftBank, a Japanese conglomerate that has become a heavyweight in Silicon Valley tech investing, is joined by Dragoneer Investment Group in leading a consortium of investors that plans to invest $1 billion to $1.25 billion in Uber, and in addition, will buy up to 17 percent of existing shares from investors and employees in a secondary transaction. The terms were signed on Sunday, although the tender offer would likely take weeks to complete.
Uber is valued at $68 billion, the most highly valued venture-backed company in the world. SoftBank’s roughly $1 billion investment of fresh funding is expected to be at the same valuation. The secondary transaction, or the purchases from employees and existing investors, would be at a lower valuation.
A spokeswoman for Benchmark did not immediately respond to a request for comment, and a spokesman for Kalanick declined to comment.
Completing the SoftBank deal would allow Uber to open a new chapter after a year of controversy, including the resignation of Kalanick, the ouster of several top executives, sexual harassment and discrimination allegations, and multiple federal criminal probes. The deal is also tied to new governance rules that aim to distribute power more equally and bring more oversight to the company.
‘FULL RESET’
“Uber had a remarkable first six or seven years, a bumpy past two years, and now the SoftBank deal allows for a full reset,” said Bradley Tusk, an Uber investor and political strategist who works with tech companies.
It would also be a major victory for Uber’s new CEO, Dara Khosrowshahi, who often served as a mediator to help broker the agreement, according to a third person familiar with the matter.
To allow the deal to go forward, Benchmark has agreed to immediately suspend its lawsuit against Kalanick, which it filed in August in an effort to diminish the ex-CEO’s power at the company and force him off the board, one of the sources said.
On the successful completion of the SoftBank investment, Benchmark would drop the lawsuit entirely, the person said.
In turn, Kalanick must receive majority board approval should he want to replace the board seats over which he has control, according to the source. In addition to his own seat, Kalanick controls two more, which are occupied by Ursula Brown, the former Xerox Corp CEO, and former Merrill Lynch & CO Inc CEO John Thain. Kalanick appointed them in September without first consulting with the board.
“Ending the litigation is a big step forward if it finally ends the specter of Kalanick retaking control,” said Erik Gordon, an entrepreneurship expert at the University of Michigan’s Ross School of Business.
Uber’s board already approved a slate of governance reforms that are contingent on completion of the SoftBank deal. They include removing super-voting rights that gave Kalanick and his allies outsized power, adding new independent directors and increasing the size of the board to 17.
Uber plans to run newspaper ads informing investors about the share purchase, and SoftBank will propose a price at which it will buy stock. The company has threatened to invest in ride-hailing rival Lyft if it does not get the Uber deal done.
The deal gives early investors such as Benchmark, whose Uber stake is worth nearly $9 billion, the opportunity to cash out a very lucrative investment.
(Reporting by Heather Somerville in San Francisco and Greg Roumeliotis in New York; Additional reporting by Liana Baker in San Francisco; Editing by Diane Craft and Peter Cooney)
Qualcomm draws up plans to rebuff Broadcom’s $103 billion offer: sources
By Greg Roumeliotis and Liana B. Baker
(Reuters) – U.S. chipmaker Qualcomm Inc is making preparations to reject rival Broadcom Ltd’s $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles.
Qualcomm’s board of directors could meet as early as Sunday to review the unsolicited acquisition offer and decide on its strategy, the sources said. The preparations for the board meeting indicate that Qualcomm is poised to rebuff the bid as insufficient as early as Monday, although it may decide to spend a few more days this week to prepare its full response to Broadcom, the sources added.
Qualcomm Chief Executive Steven Mollenkopf has spent the past few days soliciting feedback from Qualcomm shareholders, and feels that Qualcomm’s $70-per-share bid undervalues the company and does not price in the uncertainty associated with getting the deal approved by regulators, according to the sources.
Broadcom CEO Hock Tan, who said earlier this month he would redomicile his company to the United States from Singapore, has stated he is open to launching a takeover battle. The sources said Broadcom was preparing to submit a slate of directors by Qualcomm’s Dec. 8 nomination deadline. That would allow Qualcomm shareholders to vote to replace the company’s board and force it to engage with Broadcom.
Broadcom has also been deliberating the possibility of raising its bid for Qualcomm, including through more debt financing, some of the sources said, although it was not clear when Broadcom would choose to make such a move.
The sources asked not to be identified because the deliberations are confidential. Qualcomm and Broadcom did not immediately respond to requests for comment.
Qualcomm provides chips to carrier networks to deliver broadband and mobile data. It is engaged in a patent infringement dispute with Apple Inc , and is also trying to close its $38 billion acquisition of automotive chipmaker NXP Semiconductors NV after signing a deal in October 2016. Broadcom has indicated it is willing to acquire Qualcomm irrespective of whether it closes the NXP deal.
NXP shares have been trading above Qualcomm’s offer price, as many NXP shareholders, including hedge fund Elliott Management Corp, have been holding out for a better price. Qualcomm does not plan to significantly raise its price for NXP as a defensive strategy to make its acquisition by Broadcom more expensive, according to one of the sources.
Qualcomm shares closed at $64.57 on Friday, while Broadcom ended at $264.96.
(Reporting by Greg Roumeliotis in New York and Liana B. Baker in San Francisco; Editing by Peter Cooney)
‘Super Mario Odyssey’ review: Nintendo tips its cap to the past
Nintendo’s (NTDOY) Super Mario is finally ready for his next big adventure Thursday with the launch of “Super Mario Odyssey.” Available for the Switch, “Super Mario Odyssey” is both a leap forward for the franchise and a love letter to its storied past.
After bringing Mario and crew back to its side-scrolling inspired roots in “Super Mario 3D World,” Nintendo has dropped Mario into an open world-style game that’s a callback to “Super Mario 64” and “Super Mario Sunshine.”
‘Super Mario Odyssey’ is a wonderfully quirky experience that pays homage to its past.
“Odyssey” lets you travel between various kingdoms as you try to save Princess Peach from the clutches of the evil Bowser. So yeah, the plot isn’t very original. But it’s how you travel the world, and the various ways in which you interact with it, that makes “Super Mario Odyssey” among the best “Mario” offerings in recent memory.
Come fly away with me
Mario doesn’t play alongside his brother Luigi in “Odyssey.” Instead, the mustachioed one is teamed up with a living top hat named Cappy. It turns out, Bowser wants to force Peach to marry him and he’s kidnapped Cappy’s sister, who happens to be a tiara named Tiara, to act as her headdress.
Bowser has kidnapped both Peach and Cappy’s sister Tiara.
Mario and Cappy give chase in the Odyssey, an enormous top hat-shaped ship that runs on power moons. Your goal is to collect power moons from each world you visit to refuel the Odyssey and ensure you can reach Peach and Tiara in time.
Toss your hat in the ring
Cappy is the most unique sidekick in Mario’s long, storied history. He’s also indispensable, as throwing him at enemies allows you to take over their bodies. Does it make sense? Nope. But then again neither does an Italian plumber from Japan throwing fireballs at giant man-eating plants that live in sewer pipes. So get over it.
Taking over enemies and using their abilities is fun, sure, but it’s also the key to solving the majority of “Odyssey’s” puzzles. Want to dive deep underwater? You’ll need to take over a Cheep Cheep. Want to fly? Grab a Koopa Paratrooper. It’s a slick mechanic that allows you to take an inventive approach to the game’s various challenges.
Mario and Cappy aboard the Odyssey.
You can also use Cappy as a floating stepping stone to reach distant platforms, or as a spring to jump up to out-of-the-way areas.
“Odyssey” also takes advantage of the Switch’s motion-sensitive Joy-Con controllers. Flick the Joy-Con in one direction and Mario will toss Cappy. Flick the controller in a different direction and Cappy will spin around you, clearing out any enemies that have surrounded you.
The motion controls worked well, but I preferred playing with the Joy-Con Grip, since it feels more like a traditional controller.
The best looking ‘Mario’ game to-date
A strong sense of exploration permeates “Odyssey.” And that’s just how producer Yoshiaki Koizumi and director Kenta Motokura planned it. “Odyssey” focuses on the excitement of travel and discovering new locales, which pushes you to look into every nook and cranny of the game world to find its seemingly endless secret areas and items.
From ancient islands with an enormous T-Rex that, yes, you can take over, to long-forgotten towns and beach resorts, Nintendo has managed to craft a game where each new kingdom feels unique unto itself.
Even the game’s maps are designed to look like travel brochures for the various worlds you visit complete with points of interest.
New Donk City is a standout among ‘Odyssey’s’ many quirky worlds.
It’s important to note just how beautiful “Super Mario Odyssey’s” kingdoms look. New Donk City, a New York City analogue, has the feel of a living world, right down to the rats that scurry past your feet near dumpsters, while the Seaside Kingdom’s Bubblaine made me long for a chance to lounge at a beach resort.
“Odyssey’s” graphics look even more impressive when compared to the game’s 8-bit side-scrolling sections inspired by the original “Super Mario Bros.” title for the Nintendo Entertainment System. During one particularly tricky area, I found myself bouncing between an 8-bit section and the game’s 3D style, and the difference was staggering. It felt as if the 3D Mario was almost real.
I was also taking muscle relaxers for my strained back, but still.
Ready player 2
Like any great “Mario” game, “Super Mario Odyssey” includes a two-player mode. Interestingly, “Odyssey” lets your friend jump in and play as Cappy in the middle of a play through by simply opening the pause menu and selecting 2 Player mode.
The co-op aspect of the game doesn’t limit what you can do with Cappy, either. You’ll be able to jump off Mario’s head and attack enemies, reach out of the way coins and take over objects and adversaries.
Yes, Cappy can even take over this T-Rex.
It also makes for some interesting tag teaming experiences. At one point I was stuck on a platform that was about to fall out from under me, so the person I was playing with flew over as Cappy and let me jump on him, saving my skin.
That said, since you’re traversing a fully 3D world, you need to rotate the camera to get the best view available at any given time. And since both Mario and Cappy move independently, it becomes difficult to ensure both players have the right angle, which can be frustrating.
Should you get it?
Mario’s big debut on the Switch is a joy to experience. Its beautifully realized worlds, excellent platforming, admiration for series’ past and new gameplay mechanics make “Super Mario Odyssey” worthy of the portly plumber’s legacy.
My only real issue with “Odyssey” is the camera experience during co-op play. Still, this is a game that is focused primarily on the single-player aspect, and is an incredibly wonderful one at that.
If you’ve got a Switch, get this game. If you don’t have one, “Odyssey” just moved in alongside “The Legend of Zelda: Breath of the Wild,” as one of your biggest reasons to snag one.
What’s hot: Gorgeous, endlessly explorable game world; Cappy adds an inventive gameplay mechanic; Fantastic callbacks to the franchise’s best moments
What’s not: Camera can be difficult to control in co-op mode.
The Razer Phone is built for your mobile gaming habit
Razer is getting into the smartphone business with its Razer Phone, and handset designed specifically for mobile gamers.
Razer is best known for making some incredibly slick gaming accessories and, more recently, impressive laptops like the Razer Blade Stealth and Blade Pro. But now the company is getting into the smartphone market. Yes, Razer is building a gaming phone.
It might sound odd to build a gaming smartphone, but to Razer it makes perfect sense. The global smartphone gaming market is already enormous. Take China’s insanely popular “Honor of Kings.” The game is played by so many people so often that the country’s communist party mouthpiece the “People’s Daily” called it poison. Tencent, the game’s publisher ended up putting play time restrictions on it to keep the government happy. And now it’s coming to the U.S. and Europe. In other words, the market isn’t slowing down.
The $699 Razer Phone has the makings of a truly over-the-top handset befitting the gaming brand, but it’s got a big flaw in the U.S. market: It might not work with your carrier.
The Nextbit Robin reborn
The Android-powered Razer Phone is certainly a new device for the company, but we’ve actually seen it before sporting a different nameplate: The Nextbit Robin. Razer purchased Nextbit in January 2017, and has been working to merge its vision for smartphones with the existing Robin design.
The Razer Phone’s fingerprint reader is positioned on its right edge.
The result is a Robin that looks like it’s been souped up by, well, gamers. The handset features the Robin’s uniquely angular profile, but trades in rounded speakers for full Dolby Atmos-certified stereo speakers. I listened to a Dolby demo on the Razer Phone and it sounded far better than any other smartphone speaker I’ve heard. Whether that applies to things like Spotify and not tech demos, though, remains to be seen.
Razer said it put the speakers on the front of the phone rather than along its bottom edge to ensure the sound comes toward you when holding the handset.
The Razer Phone’s body doesn’t carry the Robin’s blue paint job. Instead, it’s been built using the same kind of material Razer uses on its laptops. It also sports the same paint job as the company’s notebooks and Razer’s familiar three-headed snake logo.
The Razer Phone sports the company’s familiar three-headed snake logo.
Bigger and better
Razer might have taken the general look of the Robin to build its handset, but it also threw in a larger, sharper 5.7-inch, 2,560 x 1,440 resolution IGZO display. That’s the same screen technology the company uses on its laptops, and boy does it look good.
It doesn’t hurt that Razer added what its calls its Ultra Motion technology, which smooths out scrolling in apps and transitions compared to other Android handsets. Animations on Google’s (GOOG, GOOGL) Android have never been as crisp as they are on Apple’s iPhone, which makes the improvement immediately noticeable.
Razer has also outfitted its phone with dual 12-megapixel rear cameras. And like Apple’s (AAPL) iPhone 8 Plus and iPhone X and Samsung’s Galaxy S8, those cameras have both wide-angle and telephoto lenses.
Razer says it has whipped up its own solution for the dual-lens setup that allows both lenses to see an image and then merges them to give you a greater number of distance options. I didn’t get to try this feature out, though, so I’ll have to wait to get my hands on the phone before I can say how well it works.
Inside, Razer has equipped the phone with a Qualcomm Snapdragon 835 octa-core processor, a ridiculous 8GB of RAM (most phones top out at 4GB) and 64GB of storage with the option to expand that via a microSD card.
The Razer Phone is so powerful that the company said it had to build a custom thermal management solution to keep the handset from getting too hot.
What’s the point?
So what’s the point of building a high-powered gaming smartphone? Great question. As it stands there aren’t any games available today that premium handsets can’t run. If you’ve got a Samsung Galaxy S8, you’ll be able to play the same games as someone with a Razer Phone.
Razer, however, says that it can run games at higher frame rates than other smartphones, which makes for smoother gameplay.
Games look great on the Razer Phone.
Razer is also a kind of status product. Don’t get me wrong, its devices are fantastic, but gamers love gaming devices. And they’ll certainly pony up for a handset designed specifically with them in mind.
There’s just one problem. The Razer Phone will only work on GSM networks. That means you’ll only be able to use it on AT&T and T-Mobile here in the U.S. Sprint and Verizon use CDMA networks, so the Razer Phone won’t work with them.
The reason for the exclusion? Mobile gaming, while big in the U.S., is even larger in places like China, the Middle East and Russia, where GSM networks reign supreme. So it stands to reason that the Razer’s handset will sell better in those areas.
The Razer Phone is still an interesting proposition from a company that’s known for producing great gaming products. Will it be worth picking up? We’ll have to wait and see.
Microsoft Xbox One X review: A beast of a console at a steep price
Microsoft’s Xbox One X is a beast of a console. It’s 30% faster and its graphics chip is 4.6 times more powerful than its predecessor, the original Xbox One. And Microsoft (MSFT) is also pretty keen on boasting about all of that firepower.
But what’s the point of all of it all? To push 4K, high-dynamic range-capable games at 60 frames per second. In other words, the Xbox One X is designed to make your games look and run better than the standard Xbox One.
But, and there’s a big but, you’ll only see all three of those benefits if you own a TV that’s 4K, HDR compatible. So is the Xbox One X worth buying? That depends on whether you’re willing to part with $499.
Microsoft’s Xbox One X is a beast of a console with enhanced graphics and impressive visuals.
Microsoft’s reset
Microsoft’s original Xbox One didn’t have the best start when it launched in November 2013. Not only did it cost a pretty penny at $499 (that’s familiar), but it also had to contend with Sony’s PlayStation 4, which launched that same month for $100 less.
With those strikes against it, and Sony’s formidable first-party lineup, the Xbox One quickly fell behind the PS4 in sales.
But Microsoft is far from down and out. The company reported that its Xbox software and services revenue was up 21% in its Q1 FY2018 earnings. Hardware sales, however, took a hit due to a decrease in console pricing. The Xbox One S, a slimmer replacement for the original One, costs just $250. But the One X could help offset those losses.
A fresh face
The original Xbox One, which currently resides on the middle shelf of my entertainment center, was a huge machine. It dwarfed the PlayStation 4 and had a massive external power brick that you had to cram behind your TV stand.
Microsoft addressed the One’s size by making the One S 40% slimmer than its forebearer. But the One X is even thinner than that. How did Microsoft fit more power into a smaller box? By being engineering masters, and by crafting a more efficient cooling system.
The Xbox One X is noticeably slimmer than the original Xbox One.
The One X’s matte black, monolithic body fits perfectly into my entertainment center without looking obtrusive. In fact, I prefer its design to the rhomboid sandwich that is the PS4 Pro.
Game time
So what does 4K, HDR gaming at 60 frames per second get you? Well, that depends on the game you’re playing. See, the Xbox One X isn’t launching with any one marquee title. Instead, developers are updating existing and recently released games with patches that allow for 4K, HDR games played at 60 fps.
Eventually those games will include the likes of “Forza Motorsport 7,” “Gears of War 4,” “Killer Instinct,” “Halo 5: Guardians” and “Super Lucky’s Tale.”
Additional titles include “Assassin’s Creed Origins,” “Rise of the Tomb Raider,” “Middle Earth: Shadow of War” and “Titanfall 2.”
The rear of the Xbox One X.
I hooked up both my original Xbox One and the One X to my 55-inch 4K, HDR-capable LG TV, switching back and forth between the consoles while playing “Gears of War 4,” and noticed both a difference in frame rates and coloring. Thanks to its HDR-compatibility, the Xbox One X pushed out a wider array of colors than the One. That made for a more visually appealing experience than the One, which produced more muted hues.
The One X’s 4K capabilities were also noticeable, especially when it came to finer details like facial hair and scarring and the characters’ uniforms. Still, I found the difference between the HDR and non-HDR versions of “Gears” to be far greater than the 4K and non-4K versions.
As for that performance boost? It’s certainly there. Properly updated games look much smoother on the One X than on the standard One. It’s almost like the difference between playing a game on a console and then playing the same game on a high-end PC. Movements are more fluid and you don’t see any choppiness.
But not all games will run at 60 frames per second, so don’t expect to get the same kinds of benefits across the board.
The One X is an impressive console, with loads of power.
Microsoft worked closely with the “Gears of War 4” team on its One X improvements, which include 60fps, 4K and HDR, as well as upgraded textures, enhanced lighting effects and better shadows. Some gamers might say that those differences aren’t that important to them, which is fine. I’m firmly in the other camp, though. I update my own PC constantly to get the best possible graphics, so if I can do the same with a console, I’m in.
To tell if the game you want to buy takes advantage of the One X’s enhanced capabilities, you’ll need to check to see if it has Microsoft’s special icons. 4K Ultra HD means a game will output at 2160p. Meanwhile, HDR means it supports high-dynamic range, and Xbox One X Enhanced means the developer has done work under the hood of the game to improve its performance.
It’s important to point out that all games that run on the One X will also work with the One S and original One. The visuals will be different, but otherwise, the games will be the same.
Microsoft put a lot of work into ensuring the One X was both powerful and slim.
If you don’t have a 4K TV, you’ll still see performance improvements with the One X, and Microsoft says it will use supersampling techniques, which downscale 4K images for 1080p televisions providing enhanced visuals.
The competition is fierce
The Xbox One X doesn’t exist in a vacuum, though. It not only has to contend with Sony’s own 4K, HDR-capable PlayStation 4 Pro, but the standard PlayStation 4, the less expensive One S and Nintendo’s hit Switch console.
The $399 PS4 Pro, however, is its closest competitor. And while both can handle 4K, HDR gaming, the One X’s big sell is that it can do so at 60fps. But again, not every game will hit that mark. Microsoft also points out that the Xbox One is capable of “true 4K” resolutions, while the PS4 Pro isn’t. That’s true — the PS4 Pro uses technological wizardry in the background to make games appear as though they are running at 4K. But if you can’t tell, what’s the difference?
The One X says “Hello!” from Seattle.
The One X isn’t even the only version of the Xbox One that offers HDR compatibility, since the $250 One S supports the feature as well.
As for the $299 Switch, well, it doesn’t have nearly the kind of power the One X does — it’s like a Lamborghini facing off against a Corolla, but Nintendo’s got Microsoft beat in portability. It doesn’t hurt that the Switch has classic first-party titles and is also getting a good number of third-party offerings (finally).
Should you get it?
Microsoft will be the first to admit the One X isn’t for everyone. If you don’t have a 4K, HDR TV, you’re going to miss out on the enhanced visuals, just as you would with e PS4 Pro. And if you’re on a budget, the $499 price tag is hard to swallow.
But for those with a compatible TV, who want the best possible gaming experience, bragging rights among friends and have the cash to spare, the One X is a heck of choice.
