Connected newsletter: Nintendo slashes outlook as Apple faces new EU fine

Connected Newsletter

Connected at the Business Post is your source for the news that matters in technology and innovation, all told from an Irish perspective

Get Charlie Taylor’s Connected newsletter to your inbox each Friday to read the innovation and technology stories that matter to Irish business.

Well, what a week it has been. It need hardly be said that the results of the US presidential election trumps (ahem!) any other news that has taken place in the past few days. Even that of the proposed dissolution of the Dáil.

I’ll be taking a look at whether Trump’s re-election is bad for Ireland’s tech ecosystem at the weekend on businesspost.ie, so don’t miss it!

Meanwhile, for those who have already had enough of the US elections, relief is at hand with the new Connected AI podcast. Presented by Elaine Burke and I, we’re focused on demystifying the tech that everyone is talking about. Get it where ever you get your podcasts.

In worrying news for Apple, it was revealed this week that the well-known investor Warren Buffet is continuing to cut his stake in the iPhone maker. In just over a year, Berkshire Hathaway, the company he chairs, has dumped more than two-thirds of the stock it had. Ouch!

As if that wasn’t bad enough, the company is facing its first fine under the European Union’s Digital Markets Act, which was introduced last year. The penalty, is set to come just months after Apple was hit with a €1.8 billion fine for similar abuses under the bloc’s traditional competition rules. Lest we forget, Apple also had to recently repay Ireland over €13 billion too. The first €3 billion tranche of this has just been transferred to the state.

Nintendo has slashed its full-year outlook after reporting its fifth straight quarter of profit declines on flagging demand for its Switch console. Making matters worse for the company is the fact that rivals Sony and Microsoft are about to unleash sleeker and more powerful updates of their consoles ahead of the holiday shopping season.

Also cutting its forecast is telecoms giant BT, which is in the process of trying to offload its Irish unit. It has lowered the company’s 2025 fiscal year revenue guidance due to a weak outlook for its business department, as chief executive Allison Kirkby implements a major turnaround plan.

In case you missed it, I recntly wrote about how shareholders are increasingly concerned at Big Tech’s spend on AI, with many wondering not just when, but if, they will ever see a return.

In our weekly update, we are giving you the lowdown on the best tech jobs currently available locally. If you want to be included, then email topjobs@businesspost.ie

In other news:

• Irish regtech start-up Customs Window closes €800k seed funding round

• Limerick-based Kneat sees third quarter revenue up 52%

Send on your news and views to connected@businesspost.ie

All the best,

Charlie

“I think the whole tech industry around AI is in a very bad position and it’s 90 per cent marketing and ten per cent reality and in five years things will change and at that point we’ll see what of the AI is getting used for real workloads Linus Torvalds, creator of the Linux kernel

Tech giants face regulatory pushback: Will Europe be left behind?

Is Salesforce living the AI dream?

Duolingo put its sarcastic teen chatbot to work on its earnings call (Business Insider)

Palantir CEO swipes at critics who called him ‘batshit crazy’ as earning results are so strong he says ‘we should just go home’ (Fortune)