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Dell Technologies Delivers First Quarter Fiscal 2025 Financial Results

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News summary

First quarter revenue of $22.2 billion, up 6% year over yearInfrastructure Solutions Group (ISG) revenue of $9.2 billion, up 22% year over year, with record servers and networking revenue of $5.5 billion, up 42%Client Solutions Group (CSG) revenue of $12.0 billion, flat year over year, with commercial client revenue at $10.2 billion, up 3%Diluted earnings per share of $1.32, up 67% year over year, and non-GAAP diluted earnings per share of $1.27, down 3%

ROUND ROCK, Texas, May 30, 2024 /PRNewswire/ —

Full story

Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2025 first quarter. Revenue was $22.2 billion, up 6% year over year. Operating income was $920 million and non-GAAP operating income was $1.5 billion, down 14% and 8% year over year, respectively. Cash flow from operations was $1.0 billion. Diluted earnings per share was $1.32, and non-GAAP diluted earnings per share was $1.27, up 67% and down 3% year over year, respectively.

Dell returned $1.1 billion to shareholders through share repurchases and dividends and ended the quarter with $7.3 billion in cash and investments.

“We again demonstrated our ability to execute and deliver strong cash flow, with AI continuing to drive new growth,” said Yvonne McGill, chief financial officer, Dell Technologies. “Revenue was up 6% at $22.2 billion, servers and networking revenue was up 42%, and we generated $7.9 billion of cash flow from operations over the last 12 months.”

First Quarter Fiscal 2025 Financial Results

Three Months Ended

May 3, 2024

May 5, 2023

Change

(in millions, except per share amounts
and percentages; unaudited)

Net revenue

$          22,244

$           20,922

6 %

Operating income

$               920

$             1,069

(14) %

Net income

$               955

$                578

65 %

Change in cash from operating activities

$            1,043

$             1,777

(41) %

Earnings per share – diluted

$              1.32

$               0.79

67 %

Non-GAAP operating income

$            1,474

$             1,598

(8) %

Non-GAAP net income

$               923

$                963

(4) %

Adjusted free cash flow

$               623

$                687

(9) %

Non-GAAP earnings per share – diluted

$              1.27

$               1.31

(3) %

Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons in this press release are year-over-year unless otherwise noted.

Infrastructure Solutions Group (ISG) delivered first quarter revenue of $9.2 billion, up 22% year over year. Servers and networking revenue was a record $5.5 billion, up 42%, with demand strength across AI and traditional servers. Storage revenue was flat at $3.8 billion. Operating income was $736 million.

Client Solutions Group (CSG) delivered first quarter revenue of $12.0 billion, flat year over year. Commercial client revenue was $10.2 billion, up 3% year over year, and Consumer revenue was $1.8 billion, down 15%. Operating income was $732 million.

“No company is better positioned than Dell to bring AI to the enterprise,” said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. “Servers and networking hit record revenue in Q1, with our AI-optimized server orders increasing sequentially to $2.6 billion, shipments up more than 100% to $1.7 billion, and backlog growing more than 30% to $3.8 billion.”

Dell Technologies World

On May 20, Dell expanded the industry’s broadest AI solutions portfolio from desktop to data center to cloud with innovations designed to accelerate AI adoption and innovation:

The Dell AI Factory combines Dell infrastructure, solutions and services optimized for AI workloads with an open ecosystem of partners including NVIDIA, Meta, Microsoft and Hugging Face.The Dell AI Factory with NVIDIA includes the new PowerEdge XE9680L server, which offers direct liquid cooling in a 4U form factor and can support 72 NVIDIA Blackwell GPUs in a single rack – 33% more GPU density per node compared to the XE9680.Dell PowerStore software updates give customers up to a 66% performance boost, native sync replication for file and block and improved multicloud data mobility capabilities.New AI PCs are Copilot+ and powered by Qualcomm Snapdragon® X Elite and Snapdragon® X Plus processors, delivering exceptional battery life and AI performance.

Operating Segments Results

Three Months Ended

May 3, 2024

May 5, 2023

Change

(in millions, except percentages;
unaudited)

Infrastructure Solutions Group (ISG):

Net revenue:

Servers and networking

$         5,466

$       3,837

42 %

Storage

3,761

3,756

— %

Total ISG net revenue

$         9,227

$       7,593

22 %

Operating Income:

ISG operating income

$            736

$          740

(1) %

% of ISG net revenue

8.0 %

9.7 %

% of total reportable segment operating income

50 %

45 %

Client Solutions Group (CSG):

Net revenue:

Commercial

$       10,154

$       9,862

3 %

Consumer

1,813

2,121

(15) %

Total CSG net revenue

$       11,967

$     11,983

— %

Operating Income:

CSG operating income

$            732

$          892

(18) %

% of CSG net revenue

6.1 %

7.4 %

% of total reportable segment operating income

50 %

55 %

Conference call information

As previously announced, the company will hold a conference call to discuss its performance and financial guidance on May 30 at 3:30 p.m. CDT. Prior to the start of the conference call, prepared remarks and a presentation containing additional financial and operating information prior to financial guidance may be downloaded from investors.delltechnologies.com. The conference call will be broadcast live over the internet and can be accessed at https://investors.delltechnologies.com/news-events/upcoming-events.

For those unable to listen to the live broadcast, the final remarks and presentation with financial guidance will be available following the broadcast, and an archived version will be available at the same location for one year.

About Dell Technologies

Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.

Copyright © 2024 Dell Inc. or its subsidiaries. All Rights Reserved. Dell Technologies, Dell, EMC and Dell EMC are trademarks of Dell Inc. or its subsidiaries. Other trademarks may be trademarks of their respective owners.

Non-GAAP Financial Measures:

This press release presents information about non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow, and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the attached tables for each of the fiscal periods indicated.

Special Note on Forward-Looking Statements:

Statements in this press release that relate to future results and events are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on Dell Technologies’ current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes.

Dell Technologies’ results or events in future periods could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: adverse global economic conditions and instability in financial markets; competitive pressures; Dell Technologies’ reliance on third-party suppliers for products and components, including reliance on single-source or limited-source suppliers; Dell Technologies’ ability to achieve favorable pricing from its vendors; Dell Technologies’ execution of its strategy; social and ethical issues relating to the use of new and evolving technologies; Dell Technologies’ ability to manage solutions and products and services transitions in an effective manner; Dell Technologies’ ability to deliver high-quality products, software, and services; cyber attacks or other data security incidents; Dell Technologies’ ability to successfully execute on strategic initiatives including acquisitions, divestitures or cost savings measures; Dell Technologies’ foreign operations and ability to generate substantial non-U.S. net revenue; Dell Technologies’ product, services, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell Technologies’ sales channel partners; access to the capital markets by Dell Technologies or its customers; material impairment of the value of goodwill or intangible assets; adverse economic conditions and the effect of additional regulation on Dell Technologies’ financial services activities; counterparty default risks; the loss by Dell Technologies of any contracts for ISG services and solutions and its ability to perform such contracts at their estimated costs; loss by Dell Technologies of government contracts; Dell Technologies’ ability to develop and protect its proprietary intellectual property or obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; disruptions in Dell Technologies’ infrastructure; Dell Technologies’ ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other tax compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; expectations relating to environmental, social and governance (ESG) considerations; compliance requirements of changing environmental and safety laws, human rights laws, or other laws; the effect of armed hostilities, terrorism, natural disasters, or public health issues; the effect of global climate change and legal, regulatory, or market measures to address climate change; Dell Technologies’ dependence on the services of Michael Dell and key employees; Dell Technologies’ level of indebtedness; and business and financial factors and legal restrictions affecting continuation of Dell Technologies’ quarterly cash dividend policy and dividend rate.

This list of risks, uncertainties, and other factors is not complete. Dell Technologies discusses some of these matters more fully, as well as certain risk factors that could affect Dell Technologies’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Dell Technologies’ annual report on Form 10-K for the fiscal year ended February 2, 2024, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Dell Technologies makes may turn out to be wrong and can be affected by inaccurate assumptions Dell Technologies might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. Dell Technologies does not undertake to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date they are made, new information, or otherwise.

 

DELL TECHNOLOGIES INC.

Condensed Consolidated Statements of Income and Related Financial Highlights

(in millions, except percentages; unaudited)

Three Months Ended

May 3, 2024

May 5, 2023

Change

Net revenue:

Products

$    16,127

$    15,036

7 %

Services

6,117

5,886

4 %

Total net revenue

22,244

20,922

6 %

Cost of net revenue:

Products

13,766

12,375

11 %

Services

3,672

3,529

4 %

Total cost of net revenue

17,438

15,904

10 %

Gross margin

4,806

5,018

(4) %

Operating expenses:

Selling, general, and administrative

3,123

3,261

(4) %

Research and development

763

688

11 %

Total operating expenses

3,886

3,949

(2) %

Operating income

920

1,069

(14) %

Interest and other, net

(373)

(364)

(2) %

Income before income taxes

547

705

(22) %

Income tax expense (benefit)

(408)

127

(421) %

Net income

955

578

65 %

Net income attributable to Dell Technologies Inc.

$          960

$          583

65 %

Percentage of Total Net Revenue:

Gross margin

21.6 %

24.0 %

Selling, general, and administrative

14.1 %

15.6 %

Research and development

3.4 %

3.3 %

Operating expenses

17.5 %

18.9 %

Operating income

4.1 %

5.1 %

Income before income taxes

2.5 %

3.4 %

Net income

4.3 %

2.8 %

Income tax rate

(74.6) %

18.0 %

Amounts are based on underlying data and may not visually foot due to rounding.

 

DELL TECHNOLOGIES INC.

Condensed Consolidated Statements of Financial Position

(in millions; unaudited)

May 3, 2024

February 2, 2024

ASSETS

Current assets:

Cash and cash equivalents

$                           5,830

$                           7,366

Accounts receivable, net of allowance of $66 and $71

8,563

9,343

Short-term financing receivables, net of allowance of $86 and $79

4,660

4,643

Inventories

4,782

3,622

Other current assets

10,792

10,973

Total current assets

34,627

35,947

Property, plant, and equipment, net

6,237

6,432

Long-term investments

1,293

1,316

Long-term financing receivables, net of allowance of $109 and $91

5,941

5,877

Goodwill

19,640

19,700

Intangible assets, net

5,538

5,701

Other non-current assets

6,914

7,116

Total assets

$                         80,190

$                         82,089

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Short-term debt

$                           6,098

$                           6,982

Accounts payable

20,586

19,389

Accrued and other

6,016

6,805

Short-term deferred revenue

15,034

15,318

Total current liabilities

47,734

48,494

Long-term debt

19,382

19,012

Long-term deferred revenue

13,116

13,827

Other non-current liabilities

2,681

3,065

Total liabilities

82,913

84,398

Stockholders’ equity (deficit):

Total Dell Technologies Inc. stockholders’ equity (deficit)

(2,822)

(2,404)

Non-controlling interests

99

95

Total stockholders’ equity (deficit)

(2,723)

(2,309)

Total liabilities and stockholders’ equity

$                         80,190

$                         82,089

 

DELL TECHNOLOGIES INC.

Condensed Consolidated Statements of Cash Flows

(in millions; unaudited)

Three Months Ended

May 3, 2024

May 5, 2023

Cash flows from operating activities:

Net income

$                  955

$                  578

Adjustments to reconcile net income to net cash provided by operating activities:

88

1,199

Change in cash from operating activities

1,043

1,777

Cash flows from investing activities:

Purchases of investments

(39)

(15)

Maturities and sales of investments

119

19

Capital expenditures and capitalized software development costs

(596)

(701)

Other

60

13

Change in cash from investing activities

(456)

(684)

Cash flows from financing activities:

Proceeds from the issuance of common stock

2

Repurchases of common stock

(700)

(240)

Repurchases of common stock for employee tax withholdings

(521)

(306)

Payments of dividends and dividend equivalents

(336)

(276)

Proceeds from debt

2,992

2,521

Repayments of debt

(3,477)

(3,698)

Debt-related costs and other, net

(35)

(5)

Change in cash from financing activities

(2,077)

(2,002)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

(55)

(58)

Change in cash, cash equivalents, and restricted cash

(1,545)

(967)

Cash, cash equivalents, and restricted cash at beginning of the period

7,507

8,894

Cash, cash equivalents, and restricted cash at end of the period

$               5,962

$               7,927

 

DELL TECHNOLOGIES INC.

Segment Information

(in millions, except percentages; unaudited; continued on next page)

Three Months Ended

May 3, 2024

May 5, 2023

Change

Infrastructure Solutions Group (ISG):

Net revenue:

Servers and networking

$      5,466

$      3,837

42 %

Storage

3,761

3,756

— %

Total ISG net revenue

$      9,227

$      7,593

22 %

Operating Income:

ISG operating income

$         736

$         740

(1) %

% of ISG net revenue

8.0 %

9.7 %

% of total reportable segment operating income

50 %

45 %

Client Solutions Group (CSG):

Net revenue:

Commercial

$   10,154

$      9,862

3 %

Consumer

1,813

2,121

(15) %

Total CSG net revenue

$   11,967

$    11,983

— %

Operating Income:

CSG operating income

$         732

$         892

(18) %

% of CSG net revenue

6.1 %

7.4 %

% of total reportable segment operating income

50 %

55 %

Amounts are based on underlying data and may not visually foot due to rounding.

 

DELL TECHNOLOGIES INC.

Segment Information

(in millions, except percentages; unaudited; continued)

Three Months Ended

May 3, 2024

May 5, 2023

Reconciliation to consolidated net revenue:

Reportable segment net revenue

$              21,194

$              19,576

Other businesses (a)

1,049

1,343

Unallocated transactions (b)

1

3

Total consolidated net revenue

$              22,244

$              20,922

Reconciliation to consolidated operating income:

Reportable segment operating income

$                 1,468

$                 1,632

Other businesses (a)

6

(36)

Unallocated transactions (b)

2

Amortization of intangibles (c)

(168)

(203)

Stock-based compensation expense (d)

(210)

(225)

Other corporate expenses (e)

(176)

(101)

Total consolidated operating income

$                    920

$                 1,069

_________________

(a)   

Other businesses consists of: 1) Dell’s resale of standalone VMware, Inc. products and services, “VMware Resale,” 2) Secureworks, and 3) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.

(b) 

Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.

(c)

Amortization of intangibles includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.

(d) 

Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.

(e)   

Other corporate expenses consist primarily of severance expenses, payroll taxes associated with stock-based compensation, facility action costs, transaction-related expenses, impairment charges, and incentive charges related to equity investments. 

 

SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES

These tables present information about the Company’s non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A detailed discussion of Dell Technologies’ reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures” in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in these reports in conjunction with the presentation of non-GAAP financial measures.

DELL TECHNOLOGIES INC.

Selected Financial Measures

(in millions, except per share amounts and percentages; unaudited)

Three Months Ended

May 3, 2024

May 5, 2023

% Change

Net revenue

$   22,244

$    20,922

6 %

Non-GAAP gross margin

$     4,947

$      5,164

(4) %

% of net revenue

22.2 %

24.7 %

Non-GAAP operating expenses

$      3,473

$      3,566

(3) %

% of net revenue

15.6 %

17.1 %

Non-GAAP operating income

$      1,474

$      1,598

(8) %

% of net revenue

6.6 %

7.6 %

Non-GAAP net income

$         923

$         963

(4) %

% of net revenue

4.1 %

4.6 %

Non-GAAP earnings per share – diluted

$        1.27

$        1.31

(3) %

Amounts are based on underlying data and may not visually foot due to rounding.

 

DELL TECHNOLOGIES INC.

Reconciliation of Selected Non-GAAP Financial Measures

(in millions, except percentages; unaudited; continued on next page)

Three Months Ended

May 3, 2024

May 5, 2023

% Change

Gross margin

$         4,806

$         5,018

(4) %

Non-GAAP adjustments:

Amortization of intangibles

60

79

Stock-based compensation expense

38

38

Other corporate expenses

43

29

Non-GAAP gross margin

$         4,947

$         5,164

(4) %

Operating expenses

$         3,886

$         3,949

(2) %

Non-GAAP adjustments:

Amortization of intangibles

(108)

(124)

Stock-based compensation expense

(172)

(187)

Other corporate expenses

(133)

(72)

Non-GAAP operating expenses

$         3,473

$         3,566

(3) %

Operating income

$            920

$         1,069

(14) %

Non-GAAP adjustments:

Amortization of intangibles

168

203

Stock-based compensation expense

210

225

Other corporate expenses

176

101

Non-GAAP operating income

$         1,474

$         1,598

(8) %

Net income

$            955

$            578

65 %

Non-GAAP adjustments:

Amortization of intangibles

168

203

Stock-based compensation expense

210

225

Other corporate expenses

170

98

Fair value adjustments on equity investments

30

15

Aggregate adjustment for income taxes (a)

(610)

(156)

Non-GAAP net income

$            923

$            963

(4) %

____________________

(a) 

Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.

 

DELL TECHNOLOGIES INC.

Reconciliation of Selected Non-GAAP Financial Measures

(unaudited; continued)

Three Months Ended

May 3, 2024

May 5, 2023

% Change

Earnings per share attributable to Dell Technologies, Inc. — diluted

$           1.32

$           0.79

67 %

Non-GAAP adjustments:

Amortization of intangibles

0.23

0.28

Stock-based compensation expense

0.29

0.30

Other corporate expenses

0.24

0.13

Fair value adjustments on equity investments

0.04

0.02

Aggregate adjustment for income taxes (a)

(0.84)

(0.21)

Total non-GAAP adjustments attributable to non-controlling interests

(0.01)

Non-GAAP earnings per share attributable to Dell Technologies, Inc. — diluted

$           1.27

$           1.31

(3) %

____________________

(a)

Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.

 

DELL TECHNOLOGIES INC.

Reconciliation of Selected Non-GAAP Financial Measures

(in millions, except percentages; unaudited; continued)

Three Months Ended

May 3, 2024

May 5, 2023

% Change

Cash flow from operations

$        1,043

$        1,777

(41) %

Non-GAAP adjustments:

Capital expenditures and capitalized software development costs, net (a)

(586)

(698)

Free cash flow

$            457

$        1,079

(58) %

Free cash flow

$            457

$        1,079

(58) %

Non-GAAP adjustments:

Financing receivables (b)

165

(367)

Equipment under operating leases (c)

1

(25)

Adjusted free cash flow

$            623

$            687

(9) %

____________________

(a) 

Capital expenditures and capitalized software development costs is net of proceeds from sales of facilities, land, and other assets.

(b)

Financing receivables represent the operating cash flow impact from the change in DFS financing receivables.

(c)

Equipment under operating leases represents the net change of capital expenditures and depreciation expense for DFS leases and contractually embedded leases identified within flexible consumption arrangements.

 

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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

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Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it!  AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

 

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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