Investors and traders who limit their research and investment dollars to companies that are American based or predominantly focused on the American market could be missing out on investment opportunities.
Here are two headlines from Asian companies and one from a European company that are making headlines on Tuesday.
Samsung Discontinues Production Of Note 7
Samsung had high hopes for its Galaxy Note 7 smartphone which was expected to compete against Apple’s (NASDAQ: AAPL) iPhone 7 in the high-end smartphone segment.
However, reports suggested that Samsung rushed production of its phone which resulted in many devices catching on fire. The South Korea-based company offered its customers a replacement device which unfortunately also caught on fire.
Samsung decided on Tuesday to permanently discontinue not only selling but producing new units of the phone.
Baidu Launches An Artificial Intelligence Chatbot
Baidu (NASADQ: BIDU), a China-based internet search provider and various apps with a market cap of around $60 billion, announced it will launch a medical chatbot to help customers better diagnose medical issues.
The chatbot, named Melody, will be included in Baidu’s Doctor app which was already launched last year. Now the app will interact with users and can also set up appointments and ask the chatbot questions.
According to The Verge, Melody is powered by Baidu’s deep learning and natural language processing systems which the company has been working on for years.
Melody is currently available to individuals in China but The Verge noted that the company is in discussions with potential partners in Europe and the U.S.
LVMH Proves The High-End Luxury Market Isn’t Dead
Many investors fear that the luxury goods market, especially the high-end, is in trouble given the uncertain and shaky global economy. Either consumers don’t have enough disposable income to make purchases or they are saving their cash instead.
LVMH, the parent company of global iconic luxury brands including Louis Vuitton, Moet Hennessey, Fendi, Dior, and many more, reported on Tuesday that its total sales for the first nine months of 2016 rose four percent to 26.3 billion euro ($29.07 billion) and organic sales rose five percent during the same time period.
The company also eased concerns among high end luxury investors when it briefly discussed its outlook.
LVMH said that it saw an acceleration of growth in the third quarter as organic revenue rose six percent. Moreover, Asia (excluding Japan) showed a “significant improvement” during the quarter while the US and Europe (excluding France) remains “well positioned.”