Clear-Cut Leader: The 2021 Toyota Camry Adds More Variants While Advancing Safety

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Clear-Cut Leader: The 2021 Toyota Camry Adds More Variants While Advancing Safety

Turning 37 can be a tough transition for some, but for the Toyota Camry, it’s a celebratory marker for this landmark model’s largest, most diverse lineup ever. The first-ever XSE Hybrid grade combines the Camry’s most fuel-efficient powertrain with its highest expression of the sport and luxury blend. All 2021 Camry models debut Toyota Safety Sense 2.5+, the automaker’s newest version of the groundbreaking driver assist technology suite that includes automatic emergency braking.

All Camry models for 2021 also get an added dose of tech and luxury with a new floating multimedia screen in 7-inch or 9-inch sizes, plus a new herringbone seat pattern on the XLE grade. Capping off the long list of enhancements, restyled front ends lend greater distinction among Camry grades.

This expansion for 2021 follows a year in which Camry added an all-wheel drive option and its first-ever TRD performance model. The “L” grade has been discontinued for 2021. The LE now becomes the point of entry for the model line.

All told, the 2021 Camry offers 17 different choices in the midsize sedan segment today. Those choices include:

  • Three V6 grades – XLE, XSE and TRD
  • Five 4-cyl. FWD grades – LE, XLE, SE, SE Nightshade, XSE
  • Five 4-cyl. AWD grades – LE, XLE, SE, SE Nightshade, XSE
  • Four hybrid grades – LE, XLE, SE, XSE (new)

The wide array of choices plus Camry’s alluring, coupe-inspired design and renowned Toyota quality and value are reasons why Camry maintains leadership in the mid-size sedan category. Camry holds its status as America’s favourite midsize sedan for 18 years running and, as well, is one of the longest-running nameplates in the auto industry.

Bold New Look Up Front

A new look up front distinguishes the comfort-oriented LE and XLE grades from the sport-oriented SE and XSE for 2021. A new front fascia for the Camry LE and XLE grades shows a more defined lower intake area. The gas version of the LE grade also debuts a new 17-inch alloy wheel design, while the XLE features a redesigned 18-inch alloy wheel. The SE and XSE grades show off a bolder redesigned lower fascia shape featuring a honeycomb-style grille and side vent inserts, plus new side vent accents.

Accentuating the revised design, the 2021 Camry augments its exterior paint palette with new Blueprint replacing Blue Streak Metallic and a new, exclusive color for the Camry TRD, Ice Edge with a two-tone Midnight Black Metallic roof. The XSE grades now offer the two-tone Supersonic Red with Midnight Black Metallic roof combination.

The performance-tuned Camry TRD, which debuted for 2020, keeps its exclusive, aero-enhanced design. The 2021 Camry TRD now comes standard with Blind Spot Monitor and Rear Cross-Traffic Alert, plus heated exterior mirrors. Blind Spot Monitor with Rear Cross-Traffic Alert is now standalone options on LE, SE and SE Nightshade grades. XSE and XLE grades already have those features as standard.

Toyota Safety Sense 2.5+

Toyota is a pioneering force in the adoption of Automatic Emergency Braking (AEB) ever since it made the advanced safety features standard across many of its model lineups for 2017, five years ahead of the voluntary commitment by many OEMs with the National Highway Traffic Safety Administration (NHTSA) to make it standard on virtually all light vehicles. For 2021, the Camry is the first Toyota model to include TSS 2.5+, the next phase in Toyota’s evolution of safety systems. A number of functions that are part of the Toyota Safety Sense have been enhanced.

For starters, the Pre-Collision System with Pedestrian Detection (PCS w/PD), features multiple enhancements. By enhancing the system capabilities, it is now possible for the system to help detect not only the vehicle ahead but also a preceding bicyclist in the daytime and even a preceding pedestrian in low-light conditions. TSS 2.5+ also enhances the PCS w/PD system with intersection support. At intersections, the system may detect an oncoming vehicle or pedestrian when performing a left-hand turn and may provide audio/visual alerts and automatic braking in certain conditions. Additional PCS functions include emergency steering assist, which is designed to stabilize the driver’s emergency steering manoeuvres within their lane while avoiding a preceding pedestrian, bicyclist or vehicle.

Camrys that come equipped with Full-Speed Dynamic Radar Cruise Control (DRCC), which can activate the feature above 30 mph, have a system designed to perform vehicle-to-vehicle distance controls down to 0 mph and resume from a stop. DRCC also includes a new feature that allows for smoother overtaking of slower vehicles. If travelling behind a vehicle travelling slower than the preset speed, once the driver engages the turn signal with steering input the system will provide an initial increase in acceleration in preparation for changing lanes; after changing lanes, the vehicle will continue acceleration until it reaches the preset driving speed.

Lane Departure Alert is designed to help notify the driver via steering wheel vibrations or audible alert if it senses the vehicle is leaving the lane without engaging a turn signal. When DRCC is set and engaged, Lane Tracing Assist (LTA) is designed to assist the driver by providing a slight steering force to help centre the vehicle in its lane using visible lane markers or a preceding vehicle.

Additional TSS 2.5+ features include Automatic High Beams, which detects preceding or oncoming vehicles and automatically switches between high beam and low beam headlights. Road Sign Assist (RSA), which is designed to recognize certain road sign information using a forward-facing camera and display them on the multi-information display (MID). With DRCC engaged and activated, RSA can also adjust speed up to the posted speed limit if driving slower or down to the posted speed limit if driving faster than posted.

Toyota’s Rear Seat Reminder will come standard on all 2021 Camrys. The feature notes whether a rear door was opened within 10 minutes of the vehicle being turned on, or at any time after the vehicle has been turned on, with a reminder message in the instrument cluster after the engine is turned off, accompanied by multitone chimes. The 2021 Camry is the second Toyota to feature Rear Seat Reminder, as it already comes standard on the 2020 Toyota Highlander.

In addition to the TSS 2.5+ system, to help Camry drivers change lanes with confidence, Blind Spot Monitor is designed to help detect and warn you of vehicles approaching or positioned in the adjacent lanes. Rear Cross-Traffic Alert (RCTA) can offer added peace of mind by helping to detect vehicles approaching from either side while backing out and alerting you with a visual and audible warning. These features come standard on XLE and XSE grades and are available on certain LE and SE grades.

Camry All-Wheel Drive is Smarter All-Wheel Drive

The all-wheel-drive option that Camry debuted for 2020 is projected to account for about 15 percent of Camry’s 2021 sales. The Toyota-developed Dynamic Torque Control AWD system is available as a standalone option for the four-cylinder LE, XLE, SE, SE Nightshade and XSE grades. Notably, the Camry AWD is a North America-only model developed in the U.S. and assembled exclusively at Toyota Motor Manufacturing Kentucky. Camry AWD uses the high-efficiency 2.5-liter Dynamic Force four-cylinder engine teamed with an eight-speed Direct-Shift automatic transmission.

Dynamic Torque-Control AWD provides effective traction for inclement and slippery weather while minimizing AWD’s typical drag on fuel economy. The system can direct up to 50 percent of engine torque to the rear wheels, in response to acceleration from a start or slippage at the front wheels.

When AWD isn’t needed, the electromagnetically controlled coupling on the rear-drive axle can disengage the propeller shaft to prioritize fuel efficiency. The AWD is designed to re-engage in an instant when needed and its operation is transparent to the driver and passengers.

The addition of AWD does not affect passenger space, trunk room, ride comfort, cabin quietness or vehicle agility. Inside, the car has the same rear seat hip point height as the Camry Hybrid.

The transformation to AWD adds just 165 lbs. (LE grade; other grade weights vary) over FWD versions. The suspension tuning, wheels, and tires differentiating the Camry model grades carry over to the AWD versions. That means, for example, the Camry XSE grade features the same sport-tuned suspension and 19-inch wheels in both FWD and AWD versions.

All AWD grades offer an optional Cold-Weather Package, which adds heated seats and mirrors on the LE; heated seats, mirrors and steering wheel on the SE; and heated steering wheel on the XLE and XSE, as heated seats and mirrors are already standard on those grades. All other standard and optional features are shared with the Camry FWD model grades. For 2021, The Cold Weather Package will now be a standalone option for FWD and Hybrid grades as well.

Camry TRD: Track-Tuned, Road-Refined

Initially, the “TRD” identifier for Toyota Racing Development was seen only on off-road toughened Toyota trucks and SUVs. Yet, TRD has been deeply involved with all facets of Toyota motorsports for more than 40 years, with a trophy case full from victories in rallying, IMSA® GTO and GTP® road racing, NASCAR®, and NHRA® Funny Car racing.

The sophisticated, high-strength TNGA-K platform that underpins the Camry was like an open invitation for TRD to rev up the sedan’s performance. The result was the first-ever Camry TRD performance model for 2020, and this road-tamer continues for 2021 with upgraded standard features, including Blind Spot Monitor with Rear Cross-Traffic Alert. The JBL Premium Audio system is now an option on Camry TRD just as it is on other grades.

The Camry TRD is equipped exclusively with a direct-injected, 301-horsepower DOHC 3.5-liter V-6 teamed with the Direct-Shift eight-speed automatic transmission featuring sport mode and paddle shifters. A specially-tuned TRD cat-back dual exhaust system conveys a throatier idle and acceleration tone.

The TRD Look + Function

The aerodynamic body kit, which includes a front splitter, side aero skirts, trunk lid spoiler, and rear diffuser, not only adds a track-ready look but also improves high-speed vehicle stability. Camry TRD wears a gloss black front grille with a sport mesh insert and black exterior badging.

Distinctive red pinstriping, red-painted brake callipers, red TRD badging and polished stainless steel TRD exhaust tips complete the road-hungry look. The 2021 Camry TRD is available in solid Midnight Black Metallic, or in two-tone schemes featuring new Ice Edge or Wind Chill Pearl with a Midnight Black Metallic roof.

In the cabin, the TRD treatment outfits the Camry with Black Sport SofTex®-trimmed front seats with red accents and red-stitched TRD embroidered headrests. The leather-wrapped steering wheel also has red stitching, and even the seatbelts are red. A shift knob with an embossed TRD logo, along with unique TRD floor and trunk mats, and a unique TRD meter with red-illuminated accents and multi-information display (MID) start-up animation complete the cabin upgrades.

TRD Handling Thrills

TRD engineers developed this special Camry’s dynamic characteristics through extensive testing at Toyota Arizona Proving Ground, TMC Higashi-Fuji Proving Ground (Japan), and MotorSport Ranch (Texas). Chassis enhancements abound, including thicker underbody braces that increase torsional rigidity.

The TRD-tuned suspension lowers Camry by 0.6 inches for a reduced center of gravity and more aggressive stance. Stiffer coil springs and sway bars increase roll stiffness by 44 percent in the front and 67 percent in the rear. A unique set of TRD shock absorbers, 19 x 8.5-inch matte-black alloy wheels, and optional Bridgestone Potenza 235/40R19 summer tires complete a chassis package that improves body control, handling agility and steering precision.

The Camry TRD’s front brakes are larger with 12.9-inch diameter rotors and dual-piston calipers, compared to 12.0-inch rotors and single piston calipers on the Camry XSE grade. Brake performance is tuned to provide more direct feedback.

Foundation for Agility and Ride Comfort

Extensive use of high-tensile-strength steel in the TNGA-K platform, along with innovative fastening methods including laser screw welding and advanced adhesives, give Camry its rock-solid feeling on the road. Optimally tuned MacPherson strut front suspension and multi-link rear suspension endow the Camry with a ride-handling balance befitting luxury vehicles. (SE and XSE grades have sport-tuned springs and shocks.)

Camry has long been renowned for quietness in its class, and the current-generation model improved on that by incorporating noise, vibration and harshness (NVH) countermeasures previously found exclusively on luxury models. Extensive sound absorbing insulation includes foam or vibration-dampening materials throughout the vehicle, along with a thicker dash silencer mat across the entire firewall section. A special vibration-damping coating is applied over a wider area of the underfloor, and noise-proofing material encompasses more surface area under the headliner.

Striking Yet Elegant Cabin

The Camry relays information to the driver via three available displays. New for 2021, a floating 7- or 9-inch central touch-screen display, like that of the new-generation Toyota RAV4, combines audio and navigation. Customizable features and smartphone-like touch screen icons ensure a familiar and convenient operation.

For even greater functionality, Camry also offers an available 7-inch multi-information display within the instrument cluster. Available on XLE and XSE, a 10-inch color Head-Up Display (HUD) projects vital information, including speed and turn-by-turn navigation directions, onto the lower portion of the windshield.

The Camry’s interior melds functionality, elegant styling, and impeccable craftsmanship. The dash design gives the driver a sporty cockpit-type feel while treating both the driver and the front passenger to expansive outward visibility. A sweeping character line flows down from the instrument cluster and bisects the center console waterfall.

Surfaces throughout the cabin employ soft-touch premium materials. New interior trim for 2021 in all grades gives a sophisticated, higher-tech look with linear dark, wood inlay or patterned metal depending on the model grade.

Long-distance seat comfort, a Camry hallmark, has been combined with ratcheted seat design for 2021. Exquisite stitching on the front- and rear-seat surfaces, one example of the high level of craftsmanship, is found throughout the vehicle. New for 2021, the XLE grade features a luxurious looking textured herringbone seat pattern. Ventilated front seats are available on the XLE and XSE.

Interior color choices, depending on exterior color, include Ash, Macadamia, or Black. The sport-oriented XSE grade also offers an exclusive Cockpit Red interior for a touch of exotic sports car flavor.

High Power, High Efficiency, Low Cost of Operation

The 2021 Camry offers a choice of three powertrains: 2.5-liter Dynamic Force four-cylinder, 3.5-liter V-6 and next-generation Toyota Hybrid System (THS II). The Dynamic Force 2.5-liter engine is a strong but smooth operator, yielding an impressive 203 hp at 6,600 rpm and 184 lb.-ft. of peak torque at 5,000 rpm (206 hp and 186 lb.-ft. for XSE grade, which uses a dual-outlet exhaust). Most AWD grades have 202 hp, while the Camry XSE AWD grade has 205 hp with dual exhaust.

The Camry’s four-cylinder engine uses a very high compression ratio (13:1) and Toyota’s innovative D-4S fuel injection, which employs both direct injection and additional port injectors. The engine is chock-full of Toyota’s most advanced technologies, including Dual VVT-i with VVT-iE (Variable Valve Timing-intelligent system by Electric motor) and laser-clad valve seats. A variable cooling system, variable oil pump and a cooled exhaust gas recirculation (EGR) system all contribute to the engine’s high thermal efficiency and outstanding fuel economy.

Genuine V-6 Performance at a High Level

The 2021 Toyota Camry is one of the few midsize sedans to still offer a V-6 engine, and this one is a gem. The 24-valve, DOHC 3.5-liter engine is equipped with the D-4S direct injection system, along with a specially-developed VVT-iW (Variable Valve Timing-intelligent Wide) variable valve timing system for the intake, with VVT-i on the exhaust. The VVT-iW system can switch the engine to the Atkinson cycle, which reduces pumping losses by delayed closing of the intake valves. The bottom line: it goes fast but sips gas.

Output is outstanding, with 301 horsepower at 6,600 rpm and 267 lb.-ft. of peak torque at 4,700 rpm.

Direct Shift 8-speed Automatic

In all Camry gas grades, both the 2.5-litre engine and the 3.5-litre V-6 are teamed with the Direct Shift eight-speed automatic transmission that delivers satisfyingly crisp-yet-smooth, quick-shifting to deliver an exemplary blend of performance and refinement. Close mid-range ratios improve passing performance, while the wide range of torque converter lock-up yields for a more direct driving feels while contributing to enhanced fuel efficiency. Control logic optimizes precise matching of engine torque on downshifts for smoother transitions.

Toyota Hybrid System

The Camry Hybrid powertrain is the most efficient and powerful offered since the Hybrid debuted for 2007. The super-efficient Toyota Hybrid System (THS II) combines the output of the 2.5-litre Dynamic Force four-cylinder engine and an electric motor (MG1) while using that motor and a second motor (MG2) for hybrid battery charging. In the Hybrid, the gas engine employs an even higher 14:1 compression ratio and is tuned to produce 176 hp and 163 lb.-ft. of torque.  Paired with the 118 hp electric motor, the total Hybrid system net output is 208 hp.

The hybrid system, however, gives the Camry Hybrid performance similar to the four-cylinder gas version. Sequential Shiftmatic technology allows the driver to “shift” the electronically controlled continuously variable transmission (ECVT). It mimics a quick-shifting 6-speed automatic transmission via paddle shifters (on SE and XSE grades) or with the console-mounted shift lever.

The Lithium-ion (Li-ion) hybrid battery pack is installed beneath the rear seat and does not reduce passenger room or trunk capacity. The battery’s position also contributes to a lower center of gravity.  Along with the traditional Camry Hybrid NORMAL, ECO and EV drive system modes, a SPORT mode allows for an increase in power from the hybrid system for improved acceleration response relative to throttle pedal input.

The clever Auto Glide Control (AGC) feature helps to enhance fuel efficiency by calculating efficient coasting logic. AGC can be activated only when the vehicle is being operated in the ECO drive mode. When activated, AGC limits the loss of vehicle speed through engine braking, acting more like a neutral gear to allow longer coasting. An AGC indicator light illuminates on the multi-information display when AGC is in operation to alert the driver of reduced engine braking.

Toyota Audio

The base Toyota Audio system for 2021 gains a new, dramatic looking and easy-to-use 7-in. floating touch screen display. The system features Android Auto™, Apple CarPlay® and Amazon Alexa® compatibility. The full-featured system includes AM/FM, SiriusXM® with 3-month All-Access trial, Siri® Eyes Free, hands-free phone capability, plus advanced voice recognition and music streaming via Bluetooth® wireless technology.

Higher grades have Toyota Audio Plus with a new 9-in. floating touch screen display. All audio systems have Connected Services trials, which include Safety Connect (1-year trial). Most grades also add Service Connect (10-year trial) and Remote Connect (1-year trial). In addition, WiFi Connect (3-month up to 2GB trial), allows up to five mobile devices to connect using 4G LTE.

Audio Plus is also offered with a JBL® 800-watt, 9-speaker premium audio, which includes a subwoofer. The JBL system is also part of the top-of-line available Premium Audio with Dynamic Navigation, which provides over-the-air updates and includes a 3-year trial.

Remote Connect provides remote start and door unlock capability, vehicle status notifications, a guest driver monitor and vehicle finder (1-year trial). Available Service Connect can provide up-to-date vehicle information on fuel level, maintenance alerts, and more.

Star Safety

All 2021 Camry models have 10 standard airbags and Toyota’s Star Safety System, which includes Enhanced Vehicle Stability Control, Traction Control, Electronic Brake-force Distribution, Brake Assist, Anti-lock Braking System, and Smart Stop Technology. All Camrys also come equipped with a standard backup camera.

Limited Warranty and ToyotaCare

Toyota’s 36-month/36,000 mile basic new-vehicle warranty applies to all components other than normal wear and maintenance items. Additional 60-month warranties cover the powertrain for 60,000 miles and corrosion with no mileage limitation. On the Camry Hybrid grades, all HV components are covered under the Hybrid System Warranty for 8 years/100,000 miles. Additionally, the hybrid battery warranty is now 10 years/150,000 miles, whichever comes first. The Camry also comes standard with ToyotaCare, a plan covering normal factory-scheduled maintenance for two years or 25,000 miles, whichever comes first, and 24-hour roadside assistance for two years, unlimited mileage.

NSE Simplifies Investing in the Capital Market with Comic Book​​

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NSE Simplifies Investing in the Capital Market with Comic Book​​
The proliferation of dubious investment schemes that often result in loss of money by unsuspecting members of the public continues to make the role of financial literacy imperative. To play its part, Nigeria’s leading bourse, The Nigerian Stock Exchange has issued the second edition of its comic, StockTown, dedicated to providing financial literacy education to Nigerians.
The comic, available in digital format on a dedicated website at www.nse-stocktown.com builds on The Exchange’s advocacy for safe and trusted investment schemes.
The story picks up from the first edition, following the life of Mora Johnson as she seeks to liberate her family from their financial struggles by investing in the capital market. This second edition highlights some major lessons for potential and existing investors including the need for vigilance in avoiding Ponzi schemes and unregulated investments, whilst advising prospective investors to seek proper guidance before making investment decisions. Readers can look forward to a simplified explanation of the history of the capital market, its evolution over the years, and how anyone can start making investments today in the Frequently Asked Questions (FAQs) section of StockTown.
Commenting on the importance of this comic book, Head, Corporate Communications, NSE, Olumide Orojimi said, “Investor Education is a priority for us at The Exchange. We have identified the need to empower individuals across all levels to make good financial decisions and better their lives now and in the future. As the investment landscape continues to evolve to accommodate more retail participants, we are excited to leverage new and existing platforms to present investment products and processes in ways that are both appealing and easy to understand, particularly in this new normal. We hope that StockTown becomes a widely-read resource for potential and existing investors, the financially excluded, millennials and the larger public.” 
StockTown is just one of the many ways NSE demonstrates its strong commitment to promoting financial literacy in Nigeria. Even amidst the Coronavirus pandemic and the temporary closure of The Exchange’s facilities, NSE continues to host virtual financial literacy workshops with students and young upwardly mobile professionals. Furthermore, The Exchange has hosted several webinars on various products including Exchange Traded Funds (ETFs), Green Bonds, and Securities Lending to provide more information to the market on available securities and how to trade them.
It should also be recalled that NSE is a member of the Financial Literacy Technical Committee of the Securities and Exchange Commission (SEC); as well as the National Finance Inclusion Steering Committee led by the Central Bank of Nigeria with a mandate to reduce the level of financial exclusion in Nigeria to 20%.

Why do people drop out of online courses?

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Why do people drop out of online courses?

If you have ever started an online course and abandoned it mid-way, then this post is for you. Let’s have some talk.

We live in a time when education is being democratized. This has resulted in more people having access to Massive Open Online Courses (MOOCs).

Apart from wide coverage, online courses have been credited for their flexibility, self-paced learning, and relevance to the needs of society. These are great benefits, yet, people sometimes find it difficult to complete the courses they enrol for.

One is tempted to think that self-discipline is the primary reason behind this situation; but, there are more complicated reasons people drop out of these courses.

First, the self-directed learning creates no sense of urgency especially when people can reset deadlines. Secondly, sometimes, people are not sure what their motivations are before enrolment.

For instance, a person taking an online course to make up for a skill-gap at work is more likely to complete a course than someone taking it for fun. Lastly, people underestimate the time needed to complete the course they enrol for and get distracted by other commitments.

Are there other reasons you think people do not complete online courses?

Please share your thoughts.

Written by: Anifat Ibrahim

Why is Xiaomi so cheap even with high specs?

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Why is Xiaomi so cheap even with high specs?

Because it’s not actually “cheap.”

A high-specced Xiaomi Mi 8 with a top-of-the-line Snapdragon 845 costs around $400. If you go to a country like, say Vietnam, $400 is enough for a person to live pretty comfortably, eating out at restaurants every day for a month. I could live lavishly for a month at $400 in my country.

It might not seem like much too, say, an American, but it’s not exactly cheap. Even an American who is down on his luck can easily live on $400 of groceries for a month. That’s beside the point, though.

How can Xiaomi afford to price this way? Easy. That’s because the cost to make the phone is actually way less than that. Does it cost $300? Nah. Probably way less. They aren’t thriving on a profit margin of just $100 per flagship. The phone itself probably cost less than $200 to make.

It’s not that Xiaomi is pricing their phones cheap. It’s just that other competitors are massively overpricing their phones to fill out their margins.

Galaxy S9 at $900? iPhone X at $1000? These phones probably cost around $300 to make. The S9 shares many parts with the Mi 8, so it probably is also cheaper than $300. One thing’s for sure, the S9 definitely doesn’t cost more than $400 to make, that’s the retail price of the Mi 8. Samsung is making at least $500 per phone here.

Xiaomi isn’t cheap. It’s just that Apple, Samsung and other competitors are just unreasonably expensive.

It’s not just that, though. Xiaomi does price aggressively. They can afford to do this because phones aren’t their only revenue source. Xiaomi — like Apple and Samsung — have other businesses where they make a lot of money. Their phones are just one way to funnel people to those businesses.

Apple for instance actually makes a lot of their money from the iTunes ecosystem. They just choose to also make hefty margins off their hardware because they want to keep that premium exclusive status in their branding, unlike say Google who chooses to sell many products and services at a loss to funnel people into their search engine business.

Xiaomi uses their phones as a strategy to get people into their internet services business, which also contributes a decent chunk to Xiaomi’s revenues ($585 million last quarter). That said, Xiaomi’s biggest business is still phones sales ($4.5 billion last quarter — their next biggest business was selling TVs at $1.5 billion) — meaning they actually have huge margins on their “cheap” phones.

Xiaomi’s labour costs are definitely lower than Samsung’s and Apple’s overall, but the other big place they are saving on is advertising. Samsung and Apple spend billions on advertising and marketing. Xiaomi spends significantly less and only has very small online marketing campaigns.

Hugo Barra, Vice President of Xiaomi, also shared that their long phone product cycles lets them keep costs lower as they have more leeway in negotiating component prices, as they can keep using the same parts over and over instead of needing new and different parts for a new phone model.

In addition, they keep a small portfolio of phones, so there’s not much need for variation in parts. Compare this with Samsung, that has tons of phones models available at any given time.

Combine all these with the better labour costs and closer sourcing components from Shenzhen, and they are able to save a lot and pinch much more pennies, savings which they pass on to the consumer.

EDIT: I wanted to add a little something to my answer. I dug up Xiaomi’s financials to make sure I wasn’t talking out of my butt. These are Xiaomi’s numbers from their first-ever earnings call as a publicly-traded company.

Xiaomi Q2 2018 numbers taken from here and you can get the actual data from Xiaomi in Chinese Yuan here.

  • Net Profit: $2.1 billion
  • Total Revenue: $6.6 billion
  • Phone Sales: $4.5 billion (67% of all revenue)
  • TV and Fitness Bands: $1.5 billion
  • Internet Services: $585 million

Lei Jun, Xiaomi’s CEO, has famously said that they keep hardware margins at 5%. However, if you look at the financials this is clearly not the case.

They aren’t making $2.1 billion net profit if their phone margins are just at 5%. That would mean they only made $225 million off phone sales and $75 million on TV sales ($300 million total), that’s $1.8 billion shy of their posted profits. $585 revenue (not even profit) from Internet Services isn’t even close to making it. These are Xiaomi’s numbers, straight from the horse’s mouth, so don’t look at me.

It’s clear that they are making way more than 5% on phones. That $400 Mi 8 isn’t even close to cost. They are making way more on each phone. Assuming that $585 Internet Services revenue is close to full profit, that’s still about $1.5 billion missing profit ($2.1B net profit – $585M) that should be coming from the smartphone and TV sales divisions. According to the math, their profit margins on their phones are closer to 40% ($6B total revenue from Phone and TV divided by $1.5B profit).

So that Mi 8 that retails for $400 probably cost around $240 to make, including all costs and overhead — unless they are being “creative” with their accounting.

Written by:

Erwin Anciano, Former Manager at General Electric

This article appeared first on Quora

COVID-19: Novartis launches first-of-its-kind not-for-profit portfolio of medicines for symptomatic treatment

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COVID-19: Novartis launches first-of-its-kind not-for-profit portfolio of medicines for symptomatic treatment

Portfolio will be sold at zero-profit to governments in up to 791 eligible countries during the pandemic and until a vaccine or curative treatment is available

Today, Novartis announced a new initiative to help patients in low-income and lower-middle-income countries (LIC; LMIC) access affordable medicines to treat the major symptoms of COVID-19 – a critical need in the absence of a vaccine or curative treatment.

Inflammation and respiratory problems linked to COVID-19 can cause severe medical complications and can lead to death in some people, putting immense strain on fragile healthcare systems.

Prescribing Medication in Rwanda

The Novartis COVID-19 portfolio includes 15 medicines from its Sandoz division for gastrointestinal illness, acute respiratory symptoms, pneumonia as well as septic shock. The medicines were chosen based on clinical relevance and availability to ensure demand can be met globally.

Drugstore in Ghana

The medicines will be made available to governments, Non-Governmental Organizations (NGOs) and other institutional customers in up to 79 eligible countries at zero-profit to support financially-strained healthcare systems. Countries will have the flexibility to select the medicines in the portfolio that meet their healthcare needs. Eligible countries must be included on the World Bank’s list of LICs & LMICs.

“Access to medicine can be a challenge for patients in low- and lower-middle-income countries and the situation has worsened during COVID-19. With our COVID-19 portfolio, we wish to help address the additional healthcare demands of the pandemic in the countries we are targeting,” said Dr Lutz Hegemann, Chief Operating Officer for Global Health at Novartis.

“This initiative builds on our earlier global commitment to keep prices stable for a basket of essential drugs used to treating COVID-19 patients,” says Sandoz CEO Richard Saynor. “The COVID-19 Response Portfolio for low-income and lower-middle-income countries is designed to support governments in treating COVID-19 symptoms before they lead to complications in patients.”

The following medicines are included in the Novartis COVID-19 Response Portfolio:

Amoxicillin, Ceftriaxone, Clarithromycin, Colchicine, Dexamethasone, Dobutamine, Fluconazole, Heparin, Levofloxacin, Loperamide, Pantoprazole, Prednisone, Prednisolone, Salbutamol, Vancomycin.

The portfolio will be offered in addition to the Novartis Access portfolio (on- and off-patent medicines against key non-communicable diseases) via the local Novartis or Sandoz affiliate.

This global pandemic has placed extreme pressure on healthcare systems in low- and lower-income countries. The pandemic response portfolio complements the previously launched Novartis COVID-19 Response Fund to support healthcare workers and communities in over 50 projects around the world.

The COVID-19 medicines portfolio is Novartis latest contribution to the global effort to combat the pandemic and support the stability of global healthcare systems.

The company has committed to donating USD 40 million to support communities around the world impacted by the pandemic.

In addition, Novartis has been active in two key cross-industry research initiatives, the COVID-19 Therapeutics Accelerator, coordinated by the Bill & Melinda Gates Foundation, Wellcome, and Mastercard, as well as a COVID-19 directed partnership organized by the Innovative Medicines Initiative (IMI). Novartis continues to provide hydroxychloroquine for ongoing investigator-initiated trials (IITs) and upon government requests, as appropriate.

The company is also separately supporting COVID-19 related clinical investigations of several Novartis medicines. To support access, the Novartis generics and biosimilars division Sandoz became the first company to commit to keeping stable prices for a basket of essential medicines that may help in the treatment of COVID-19 and entered into a partnership with US-based Civica Rx to support stable supply of essential generic hospital medicines.

Furthermore, AveXis, Novartis gene therapy unit, entered into a manufacturing agreement with Massachusetts Eye and Ear and Massachusetts General Hospital to produce its novel genetic COVID-19 vaccine candidate called AAVCOVID.  More information about the Novartis response to COVID-19 is available on https://www.Novartis.com/coronavirus

Rates Fell, as Local Demand Remain High at the PMA NTB Auction

Brand Spur
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Rates Fell, as Local Demand Remain High at the PMA NTB Auction

KEY INDICATORS

FGN Bonds

The FGN space traded on a very lethargic note with very few trades passing through the curve. The market opened one-sided, mostly bided from the mid to the long end of the curve with very few offers to match the bids.

Activities picked slightly by mid-day with few trades consummated on the 2034s and 2050s papers which settled around 9.88% and 10.70% levels respectively. Subsequently, Yields stayed flat on the short and mid-dated papers but compressed by an average of c.15bps on the longer-dated maturities by the close of business.

We expect the market to close the week on this calm note while local investor cherry-picks on the few bonds offered at attractive levels.

Benchmark FGN Bonds

Treasury Bills

The OMO bills space traded on a quite active note today, with trading activities kicking off the day on short-dated papers.

The early hours opened with actions on the October and December bills with trades settling around the mid of 5%, however, by close of business, we saw some late hour tractions on the 08 June papers starting at 6.20% but lost approximately c.25bps to close the day at 5.95% on the offer.

As such we say yields compressed by c.66bps D/D across the OMO bill curve.

Contrary to the OMO bills, the NTB space traded on a very quiet note as attention shifted to the outcome of the PMA auction scheduled for today. At the PMA auction, DMO raised approximately c.N107BN the same amount on offer with rates dropping by an average of c.21bps across the three tenors offered.

We expect to see few actions on the NTB space mostly from retail clients, as they sought to fill their outstanding demands from today’s auction.

Primary Market Auction Expectation – NTB  – 15 Jul 2020

Money Markets

The interbank rates dropped slightly by an average on c.198bps which was supported by positive system liquidity of approximately N79BN. Consequently, OBB and OVN rates closed the day at 10.00% and 10.79% respectively.

We expect a respite in the interbank market tomorrow as inflows from retail refunds and OMO maturities are credited into the system while interbank rates will most likely drop to single-digits level.

FX Market

At the FX market, The Naira depreciated by 0.50k at the I&E FX window, as supply squeeze continues to affect the general flow of funds which remained sparely low while most banks remained bided between N386/$ and N389/$. All other market segments stayed flat with the cash and transfer market closing the day at N465/$ and N467/$ respectively.

Eurobonds

The NGERIA Sovereign tickers traded on a quiet note, although the market remained largely bullish across the curve as offers worsened across the curve. Yields compressed at an average of c.4bps, with gainers seen across the sovereign curve.

Contrary to the sovereign, the NGERIA Corps tickers traded on a bearish note, as yields continue to weaken among most tracked papers. The UBA 2022s and ZENITH 2022s weakened by c.30bps and c.10bps respectively.

ZEDCREST CAPITAL

Lagos Commences Recruitment of Medical Professionals into General Hospitals

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Lagos Commences Recruitment of Medical Professionals into General Hospitals

Lagos State Health Service Commission has announced the commencement of recruitment exercise for medical professionals into General Hospitals across the State with the opening of a recruitment portal: Jobs.lagosstate.gov.ng for interested applicants on Wednesday, 15th July 2020.

According to a release issued by the Commission today, the decision to fill the vacant positions in the 27 General Hospitals across the State followed the approval granted by the State Governor, Mr. Babajide Sanwo-Olu to increase the staff strength of medical personnel in the hospitals.
According to the Commission, “Some of the vacant positions for employment opportunities include that of Medical Consultants, Medical and Dental Officers, Pharmacists, Nursing Officers, Pharmacy Technicians, Dental Therapists and Dental Technicians”.
While noting that the recruitment portal: Jobs.lagosstate.gov.ng will only be accessible for three weeks from 12 noon on Wednesday, July 15, 2020, to 12 noon on Wednesday, August 5, 2020, the Commission emphasised that it would not entertain or welcome submission of forms in its office in view of the COVID-19 protocols.

Navigating the Capital Market: The Investors’ Dilemma

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Navigating the Capital Market: The Investors’ Dilemma

Executive Summary

How much should our Naira investments return?

When we talk with investors two concerns frequently come up. One is inflation: “How can our investments beat inflation?”. The other is Naira devaluation, not so much because of its direct impact (devaluations do not directly impact Naira investments) but because of the business disruption that devaluations cause.

In this report, we treat these two problems as essentially the same thing. It is the difference between US dollar inflation and Naira inflation that drives periodic Naira devaluations. Therefore, the first job of a Naira investment is not to beat inflation as such but to beat the difference between US dollar inflation and Naira inflation. This creates a return which, in the long run, is the equivalent of a zero return in US dollars.

Once an investment can do that, the next task is to provide a US dollar return, which is conveniently provided by Nigeria’s sovereign Eurobonds. Add the two rates together and we come to the following conclusion for Naira investors:

You should start by insisting on a 14.70% per annum risk-free return.

Do Nigerian T-bills return enough?

T-bills come remarkably close to delivering our desired risk-free return, at least over the long term. They only fall a little way short of it. And, to the satisfaction of inflation-focused investors, they beat inflation over the long term (though that is not the point, in our view).

 

Why do T-bills come so close to delivering a sovereign US dollar return? It may be the case that Nairabased investors have been able to access US dollar-denominated Nigerian sovereign Eurobonds for long enough that a close yield relationship has been established.

Or some other invisible hand may be at work. At any rate, the T-bill rates seen during the first half of 2020, like those in 2010, appear to be an aberration – very different from the long-term pattern. 

What should the Nigerian equities return?

Nigerian equities have not been an inspiring story, and it is easy to show how poorly they have underperformed other equity indices around the world. All the same, it is worth digging into why this is so. Clearly, there must be a benchmark, in terms of profitability, which listed Nigerian companies fail to match (in general – there are always exceptions).

What is this benchmark? Following on from our desired 14.70% risk-free return, we add an equity risk premium (equities are risky) and come to the following conclusion:

The Return on Equity (RoE) of Nigerian companies should average at least 20.53% per annum, over time.

Do listed companies have 20.53% RoE?

For the most part, the major listed companies of the Nigerian Stock Exchange All-Share Index (NSE ASI) do not return what we consider an adequate – 20.53% – RoE. There are notable exceptions and several bank stocks deliver returns above this level, while other bank stocks are trending towards this level.

By contrast, many industrial companies have reported steeply declining returns over the past 10 years, disappointing a generation of investors in the Nigerian industry. If, 10 years ago, we had adopted the maxim ‘Invest in industrial companies with high RoEs’, we would have lost a sizeable part of our investment. Lack of growth destroyed RoEs and stock prices.

Stock price returns

Therefore, strong stock price performances have been like hen’s teeth over the long term. While in each year there are usually a few strong performances driven by corporate finance activity (takeovers, recapitalisations and the like), over the long term – and we chose the 10 years from 2010 to 2019 inclusive – stock performance has been hard to find.

And there is something sinister going on. We would expect a consistent 20.53% per annum RoE to be rewarded with roughly commensurate 20.53% stock price appreciation. But many companies with high shareholder returns have failed to deliver stock price returns of the same order.

This is because the market has been de-rating these stocks, over time paying lower and lower multiples for their earnings. We cite several bank stocks as examples.

This either means that Nigerian companies will continue to de-rate, or that a slew of Nigerian bank stocks are an outstanding value, assuming that the market will in future rate them as highly as they have been in the past. Given the post-2008 decline in bank ratings and the threat of FinTech to the sector, this assumption is open to challenge.

Nothing for it but to trade

All is not lost. Investors have enough faith in the earnings of several NSE-listed companies (not just banks but telecoms and some industrials) to buy them when economic recovery and rising future earnings are in prospect, and to sell them when prospects worsen. Buying those stocks with strong RoEs when their valuations are depressed is still a reasonable, and potentially money-making tactic. The current period is a good example.

So, we set out our stall. Understand the importance of receiving a 14.70% risk-free rate; look for equities to have a RoE of 20.53%; buy good stocks when their valuations are depressed. There is no guaranteed formula for making money: these are our guidelines.

Download Navigating the Capital Market: The Investors’ Dilemma Report

Entrepreneur Day helps start-ups redefine industries

Media Outreach
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Futurist addresses post-COVID-19 issues at E-Day online platform

 

HONG
KONG, CHINA – Media OutReach –
15 July 2020 – In light of the COVID-19 situation, this year’s HKTDC
Entrepreneur Day (E-Day) has undergone a transformation in terms of format
and content, with a series of seminars being broadcast live on 16 and 17 July. The
public can register for free at https://hktdc.hermeslive.com/en/.

HKTDC Assistant Executive Director Stephen Liang
said: “Start-ups have been bearing the brunt of the unprecedented challenges,
such as the impact on capital flow, brought by the COVID-19 pandemic. However,
the new normal has given rise to business opportunities through the use of pioneering
innovative technologies.”

Mr Liang added that this year’s E-Day, under the
theme “Revive‧Redefine“, highlights
the practical and inspirational aspects of start-ups that can help to ensure
the survival, growth, transformation and sustainability of the current business
ecosystem in the face of significant changes and challenges, while promoting
the agility necessary to embrace future challenges. The seminars feature more than 30 heavyweight speakers
from such fields as smart logistics, education technology and biotechnology to
share how to deploy pioneering ideas and innovative technologies to disrupt existing
industries and tap into new markets.

Insights
into the future of entrepreneurship

E-Day will
be joined by Gerd Leonhard, a futurist who will address the audience
from Switzerland tomorrow (16 July) to shed light on emerging issues in the post-COVID-19
economy and future trends in such areas as business, society and governance in
the context of exponential technological progress. Mr Leonhard will share how the
future of jobs, work and commerce is being redefined amid the challenges and
transformation brought about by the pandemic; examine the role of innovation,
creativity and entrepreneurship in creating major breakthroughs in a
technology-dominated future; and look at what start-ups and entrepreneurs can
do to be future-ready. He will be joined by Karena Belin, CEO &
Co-Founder of WHub, Dr Toa Charm, Associate Professor, Business
School, the Chinese University of Hong Kong, and Herbert Chia, Venture
Partner at Sequoia Capital China, to discuss how COVID-19 will shape
decision-making for start-ups, incubators and venture capitalists in Hong Kong
and Asia.

Gerd Leonhard, CEO of The Futures Agency

Another
seminar tomorrow, titled From Crisis to Chances will examine how
entrepreneurs are able to turn challenging situations into opportunities,
offering inspiration to the audience. Highlighting Hong Kong’s research
excellence and the city’s experience in containing the COVID-19 outbreak,
Professor Yeung King-lun from the Hong Kong University of Science and Technology
will share how his team reacted to the challenges presented by the global
pandemic to develop a smart anti-microbial coating, the Multilevel
Antimicrobial Polymer (MAP-1) coating, to control infectious diseases.
Designed for use on different surfaces including wood, glass, metals, concrete,
plastics, fabrics, leathers and textiles, the coating provides lasting
protection and surface disinfection against microbial contamination for a
period of up to 90 days. The smart coating has already been applied in more
than 70 day-care centres, homes for the elderly, kindergartens and primary and
secondary schools. In addition, Professor HC Man, Dean of the Faculty of
Engineering at Hong Kong Polytechnic University, will share on how his team
launched the General Use Face Shield to provide enhanced protection for
the public and minimise the risk of virus transmission within the community.

Business
opportunities are also arising for start-ups in fields such as fintech, smart
city and education technology. Katherine Cheung, Chief Marketing Officer
of on-demand online tutoring platform Snapask, will share on how recent social
distancing measures have unleashed opportunities for the Hong Kong-based
start-up in both local and overseas markets. Founded five years ago, Snapask is
now serving over 3.2 million students with more than 350,000 tutors across
eight Asian locations — Hong Kong, Taiwan, Singapore, Malaysia, Indonesia,
Thailand, Japan and Korea. The start-up has registered an increase of 1.3
million users over the past 12 months, including a big surge due to the
suspension of classes amid the COVID-19 pandemic. In Hong Kong, the platform
currently has some 40,000 tutors and 200,000 active users, most of whom are
high school students with a high percentage of them preparing for the Hong Kong
Diploma of Secondary Education examination. Some parents also seek advice while
helping their primary school kids with their homework. Understanding the demand
from students studying late at night, Snapask has pushed the boundaries of
traditional tutoring to offer a 24-hour service. Apart from its app, Snapask is
also developing business-to-business (B2B) solutions using AI technology to
provide personalised learning resources through big data analysis.

Disrupting
industries with pioneering ideas

At the
event’s plenary session tomorrow morning, titled Revive‧Redefine,
William Ip, Managing Director of Carousell Hong Kong, and Crystal Pang,
Co-Founder of Pickupp, will share how their start-ups are working to redefine
their respective industries through pioneering ideas. Mr Ip will share how the company has promoted
the concept of a “sharing” future through its customer-to-customer (C2C)
marketplace. Ms Pang will introduce how the start-up is redefining the
delivery industry and expanding its business in the Asian market. Pickupp also
works with genetic testing and digital health company Prenetics to
provide a door-to-door saliva specimen collection service for patients
who need to undergo COVID-19 testing.

In addition, the newly
launched Enterprise Connect series, featuring Arup, Epson and Fung
Group, will showcase how enterprises can join hands with start-ups to
create shared value and revive businesses across different industry pillars.

Representatives
from the media are welcome to join the closed-door seminars, which will be held
at S226-228 at the Hong Kong Convention and Exhibition Centre. Details are as
follows:

16
July (Day 1)

Plenary Session: Revive‧Redefine

Time:

11:30am-12:30pm

Speakers:

 

William Ip, Managing
Director, Carousell Hong Kong

Crystal Pang, Co-founder,
Pickupp

Language:

English

 

 

From Crisis to Chances: Unleashing
Opportunities in Challenging Times

Time:

3:15pm-4:15pm

Speakers:

 

Professor Yeung King-lun, Department of Chemical
and Biological Engineering & Division of Environment and Sustainability,
Hong Kong University of Science and Technology

Professor HC Man, Dean, Faculty of
Engineering, Hong Kong Polytechnic University

Katherine Cheung, Chief Marketing Officer,
Snapask (Holdings) Inc

Language:

English

 

 

T-Chat — Futurising Your
Business: Renaissance from the Age of Digitalisation

(Exclusive online broadcast
session)

Time:

4:30pm-6pm

Speaker:

Gerd Leonhard, CEO, The Futures Agency

Panellists:

 

Karena Belin, CEO & Co-Founder,
WHub

Dr Toa Charm, Associate Professor,
Business School, Chinese University of Hong Kong

Herbert Chia, Venture Partner, Sequoia Capital
China

Language:

English

Please click here for details of all seminars over
both days of E-Day.

Photo
download: https://bit.ly/328BLYh

Photo 1: For the first time, a
futurist will speak at E-Day. The “T-Chat — Futurising
Your Business: Renaissance from the Age of Digitalisation” seminar will address emerging issues in the
post-COVID-19 era, with Gerd Leonhard shedding light on future trends
in such fields as business, society and governance in the face of exponential
technological progress

Photo 2: William Ip, Managing
Director of Carousell Hong Kong (left), and Crystal Pang,
Co-Founder of Pickupp (right), will share on how their companies are
helping to redefine their respective industries through pioneering ideas

Photo 3: Katherine Cheung, Chief
Marketing Officer of on-demand online tutoring platform Snapask, will share
on how recent social distancing measures have unleashed opportunities for the
Hong Kong-based start-up in both local and overseas markets

To view
press releases in Chinese, please visit http://mediaroom.hktdc.com/tc

About HKTDC

The Hong
Kong Trade Development Council (HKTDC) is a statutory body established in
1966 to promote, assist and develop Hong Kong’s trade. With 50 offices
globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a
two-way global investment and business hub. The HKTDC organises international
exhibitions, conferences
and business
missions to create business opportunities for companies, particularly small
and medium-sized enterprises (SMEs), in the mainland and international markets.
The HKTDC also provides up-to-date market insights and product information via trade
publications, research
reports and digital
news channels. For more information, please visit: www.hktdc.com/aboutus.
Follow us on Twitter @hktdc and LinkedIn

Syinix launches the first android TV in Kenya with Size 8 Reborn

Media Outreach
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0

NAIROBI, KENYA – Media
OutReach – 15 July 2020 – Syinix will
be launching its first Android TV in Kenya at 10.30 pm, 15th July 2020.
The Launch will be on NTV and Startimes Kenya and hosted by Size 8 Reborn. With
the launch, Syinix will explain to customers in detail what the Syinix A20
series has to offer.

 

The Syinix A20 series has 32”, 43”, 50” and 55” screen. Here is a sneak
peek of what the Syinix A20 series has to offer.

 

Syinix defines new android TV

 

Syinix will offer 12+12 warranty on new Syinix Android TV and within those 2
years the customers will receive free repair service from Carlcare. The aim is
to ensure that there is interaction with customers in order to answer
questions, resolve supporting issues, improve credibility, and build stronger
relationships with the clients.

 

The new Android TV is now compatible with Google Assistant, you can quickly
find and play your favorite shows, get answers and control your home. The
Bluetooth-enabled TV will allow you to use external speakers to get better
sound. Comes with the Chrome cast built in feature, the TV allows one to stream
your favorite shows, movies, music, sports, games, and more from your mobile
device to the big screen.

 

It also offers breathtaking quality with the HDR advanced image processing
technology, that can better reflect the visual effect in real environment and
let users see richer and more realistic colors. The other goal of the HDR is to
maintain as much of the original image quality as possible, all the way through
to the living room.

 

The aesthetically pleasing television with its frameless structure shows the
success of Syinix Android TV being the first true frameless television. The Syinix
Android TV has a screen to body ratio of 96% for a larger and more optimal
viewing experience and has a very thin bezel at the bottom.

 

The new Syinix Android TV as you can tell has much to offer to the customers.
To provide further value to the customers, Syinix is partnering with Carlcare, to
provide first-class-after sales services anytime, anywhere. 

Syinix constantly focused on providing top quality products and services to
Kenyan families. Syinix Android TV is developed to provide the most affordable
price and user-friendly technology for every member of the family to enjoy
entertainment and better quality of life.

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