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Just about three months ago, Tesla CEO Elon Musk issued one of his characteristically optimistic and bold promises. Specifically, Musk boasted that Tesla would be able to turn a quarterly profit before the end of the year. Musk's promise came in response to an article claiming that Tesla was bleeding money and in desperate need of a cash injection, Musk, as he's prone to do, quickly took to Twitter and said: "Tesla will be profitable & cash flow positive in Q3 & Q4, so obviously no need to raise money."
Tesla's next earnings report isn't until August 1, so we'll know more about Tesla's financial situation soon enough. In the interim, though, a new teardown of Tesla's Model 3 suggests that Musk's promise might actually hold water. After thoroughly examining Tesla's mass market EV, Sandy Munro of Munro and Associates -- a prominent auto and engineering consultancy firm -- found that the Model 3 could prove to be incredibly profitable for Tesla.
"The Model 3 is profitable, so I have to eat crow," Munro said in remarks picked up by Reuters. "I didn’t think it would happen this way,” he said on Monday. “No electric car is getting 30 percent net, nobody."
Incidentally, Tesla has said that it's aiming for a profit margin in the 25% range for the Model 3.
Munro's remarks are especially telling given that his firm has previously been rather critical of Tesla's Model 3. This past February, for example, Munro's first overview of the Model 3 detailed a laundry list of problems regarding the vehicle's fit and finish.
If Tesla's margins on the Model 3 are as high as Munro suggests, Tesla, as Musk promised, may be able to turn a profit sooner rather than later if the company can continue to ramp up Model 3 production. As it stands now, Tesla during the last week of June manufactured 5,000 Model 3 units and is aiming to bump up that figure to 6,000 units per week before the end of July. Some skeptics maintain that Tesla's Model 3 production rate isn't sustainable, so the company's forthcoming earnings report will be particularly interesting.
During an interview with Tucker Carlson that aired on Tuesday night, President Trump blatantly lied about NATO, claiming the United States covers 90 percent of the costs of the alliance. “We’re not going to pay 90 percent of the cost to defend Europe,” Trump said, echoing attacks on the alliance he recently made before and […]
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The head of Samsung’s mobile division, DJ Koh, attended a special event in China earlier this week, where he talked about (among other things) fingerprint sensors for Samsung devices, including the Galaxy S10.
What was even more notable about his appearance at the private event was the use of what appears to be a Galaxy Note 9. But surprise surprise, Samsung won’t say if that’s indeed the phone the exec was photographed with.
We already showed you this image of Koh being absorbed by the screen of a Galaxy Note handset. It must be a Note because he’s using a stylus with it. Either that, or that's a regular pen, and he's just using smartphones really, really wrong.
The image seems to show a “T shape camera,” according to The Korea Herald. What’s so special about that “T”? Well, various leaks have indicated that the Galaxy Note 9 will have a dual-lens placed horizontally atop of a rear-facing fingerprint sensor. Yes, just like with the Galaxy S9 line, the Note 9’s fingerprint is moving to a more convenient placement.
The event, however, wasn’t open to the press, and Samsung won’t comment on whether the handset in the photo is the new Note or not.
“It was not an event opened to the press, and we have no comment on whether it is the real Note 9 phone or not in the photograph,” said a Samsung official.
Does that mean that it probably was the Galaxy Note 9 that Koh was holding?
At the event, Koh reportedly talked about the enhanced features of the Bluetooth-enabled S Pen related to gaming. Rumors claim that the next-gen S Pen will come with Bluetooth support and a battery of its own. If Koh did talk about the new S Pen at the private event, he must have had a way to demo it, like, say, a new Galaxy Note 9 in his pocket.
The Galaxy Note 9 will be unveiled on August 9th in New York City, where Koh and his disciples will tell us everything we need to know about Samsung’s next phablet.
Berkshire Hathaway Inc on Tuesday eliminated a restriction on its ability to buy back its own stock, a change that could help billionaire Chairman Warren Buffett deploy more of the conglomerate's cash.