Technology

BRITISH BEAUTY INDUSTRY’S RESILIENCE REINFORCED BY MARKET GROWTH AND FORECASTED STABILITY

Published

1 month ago

August 22, 2024

– New report from the British Beauty Council cites an 11% growth for the beauty industry, valuing it at £27.2bn.

– Due to increased employment, the British beauty industry’s labour taxes are large enough to fund 86% of the annual total expenditure by the Department for Digital, Culture, Media & Sport.

– The beauty industry’s annual growth rate is forecasted to be higher than the national average in 2024, expected to peak at 3% YOY.

LONDON, Aug. 22, 2024 /PRNewswire/ — The British beauty industry grew by an impressive 11 per cent last year – with signs it is shaking off the triple hangovers of Brexit, Covid and the cost of living crisis, new reports show.

According to the British Beauty Council’s latest Value of Beauty Report compiled by Oxford Economics, sales reached £27.2bn last year for both products and services close to the pre-covid average of £28bn.

Growth in employment also grew by 10 per cent supporting a workforce of more than 603,000 people.

Couple the labour taxes paid by the sector with taxes collected via indirect and induced channels, and its contribution is large enough to fund 86% of the annual total expenditure by the Department for Digital, Culture, Media & Sport.

Overall growth this year was bolstered by inflation but even though it is expected to slow next year along with price rises, Oxford Economics still predicts growth of three percent in 2025 – far higher than the 1% average for the economy.

The growth puts the personal care industry ahead of publishing, chemical manufacturing, and the creative arts and entertainment industries.

Millie Kendall OBE, CEO of the British Beauty Council, hailed the findings as a tribute to the hard work, dynamism and versatile nature of the industry and its workers.

She called on the government to ease access to the EU which, post-Brexit, had put almost a £1bn (£850m) drop in exports.

“We have almost returned to our 2019 peak economically, despite structural and economic challenges,” she said.

“We’ve had to be dynamic and pivot – looking to China, USA, Australia, Middle East and India to help grow our exports in the face of increased red tape when trading with the EU.”

But she said we still managed to grow compared to our EU neighbours.

“The adaptable and agile nature of the British beauty industry enabled us to surpass the biggest four members of the EU in growth across prestige beauty and skincare in the first half of 2024,” she said.

“Couple this with our tremendous domestic growth and we have a lot to be optimistic about.”

“Beyond export, beauty’s domestic influence is astounding, bolstered by the opening of Sephora in the UK.”

Sarah Boyd, Managing Director of Sephora UK said: “We have been extremely pleased with the performance of all three of our U.K. stores since they have launched, with all of them among the top stores in the world.

“The performance of Manchester Trafford Centre has been particularly encouraging as we continue our expansion across cities in the U.K. Year on year growth of our first store, and our ecommerce business has also been extremely strong, and the customer response to our upcoming launches is brilliant to see.”

You can download the full report here.

View original content:https://www.prnewswire.co.uk/news-releases/british-beauty-industrys-resilience-reinforced-by-market-growth-and-forecasted-stability-302228524.html

Technology

SK hynix Applies CXL Optimization Solution to Linux

Published

58 mins ago

September 23, 2024

HMSDK, a proprietary memory control solution lauded for its performance, is now available on Linux, the world’s largest open source operating systemHMSDK optimizes performance between heterogeneous memories, increasing bandwidth by 30% and performance by over 12%The company will foster the ecosystem by increasing software competitiveness as well as AI memory such as HBM

SEOUL, South Korea, Sept. 22, 2024 /PRNewswire/ — SK hynix Inc. (or “the company”, www.skhynix.com) announced today that the key features of its Heterogeneous Memory Software Development Kit (HMSDK)1 are now available on Linux2, the world’s largest open source operating system.

1Heterogeneous Memory Software Development Kit (HMSDK): SK hynix’s proprietary software development kit. It enables effective memory control, improving the performance of heterogeneous memory systems such as CXL memory.

2Linux: An operating system developed in 1991 by Linus Torvalds that has since expanded to become the world’s largest open source operating system. Most operating systems for cloud systems and supercomputers, as well as smartphones, cars, and appliances, are built on Linux.

HMSDK is SK hynix’s proprietary software for optimizing the operation of Compute Express Link (CXL)3, which is gaining attention as a next-generation AI memory technology along with High Bandwidth Memory (HBM). Having received global recognition for HMSDK’s performance, SK hynix is now integrating it with Linux. This accomplishment marks a significant milestone for the company as it highlights the company’s competitiveness in software, adding to the recognition for its high-performance memory hardware such as HBM.

3Compute Express Link (CXL): A next-generation interface that efficiently connects CPU, GPU, memory, and other components in high-performance computing systems to support massive, ultra-fast computation. By applying CXL to existing memory modules, the capacity can be expanded by more than 10 times.

In the future, developers around the world working on Linux will be able to use SK hynix’s technology as the industry standard for CXL memory, putting the company in an advantageous position for global collaboration on next-generation memory.

SK hynix’s HMSDK enhances memory package’s bandwidth by over 30% without modifying existing applications. It achieves this by selectively allocating memory based on the bandwidth between existing memory and expanded CXL memory. Additionally, the software improves performance by more than 12% over conventional systems through optimization based on access frequency, a feature which relocates frequently accessed data to faster memory.

The semiconductor industry anticipates full commercialization of CXL in the second half of 2024, coinciding with the release of the first server CPUs featuring the “CXL 2.0” specification. In preparation for this, SK hynix is currently validating CXL 2.0 memory in 96 GB and 128 GB capacities with customers. The company plans to begin mass production by the end of the year.

“For the development and spread of AI systems such as large language models (LLMs), it is now necessary to significantly improve not only semiconductors but also the level of system applications to support them,” said Youngpyo Joo, Head of Software Solution at SK hynix. “With this Linux integration and collaboration, we will strive to improve our status as a total AI memory solutions provider by innovating technologies and expanding the ecosystem in this field.”

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top-tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), flash memory chips (“NAND flash”), and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

View original content:https://www.prnewswire.com/news-releases/sk-hynix-applies-cxl-optimization-solution-to-linux-302254053.html

SOURCE SK hynix Inc.

Technology

TeraBox Is Set to Provide Premier Cloud Storage Solutions to Top Indonesian University Faculty and Students

Published

58 mins ago

September 23, 2024

Transforming Classrooms: TeraBox’s 1TB Free Cloud Storage Becomes Essential for Educators and Students

TOKYO, Sept. 23, 2024 /PRNewswire/ — TeraBox (“TeraBox” or “the Company”), a globally trusted cloud storage service headquartered in Tokyo, also a favored cloud storage solution among Indonesian users, held its first large-scale campus event at prominent Indonesian universities such as University Diponegoro, Universitas Indonesia, and Institut Teknologi Sepuluh Nopember. The company hosted numerous offline events, attracting interactions from more than 30,500 students and teachers, and handed out 85,000 flyers. Event videos posted on the universities’ official Instagram and YouTube accounts received tens of thousands of views. TeraBox looks forward to deepening its collaboration with academic institutions to offer innovative cloud storage solutions for students.

In an era where digital resources are integral to academic success, TeraBox is committed to becoming an essential tool for students, providing a secure and efficient way to save and share curriculum files and materials, simplifying file management. By offering a massive 1TB (1024GB) of free cloud storage space per account, TeraBox alleviates the challenges of managing extensive educational materials, such as e-books, digital textbooks, learning notes, and experimental data in the new semester to come. Furthermore, TeraBox enhances productivity by enabling students to engage in online assignments and collaborative projects, fostering sharing, collaboration, and communication among students and between students and teachers. TeraBox not only addresses issues related to insufficient memory on devices like smartphones and laptops, but also significantly boosts efficiency in data management in an environmentally friendly manner.

Understanding the need for seamless collaboration, TeraBox features user-friendly sharing options that allow students and faculties to create links with just one click. This facilitates easy sharing of multiple files simultaneously, which can greatly improve collaborative efforts among peers. Whether accessing files from mobile devices or desktops, students can manage their documents effortlessly anytime and anywhere. Feedback from offline surveys reveals that many users in Indonesia are impressed with TeraBox’s offering of 1TB (1024GB) of free storage space. This generous storage not only meets the needs of university students for sharing various social and lifestyle content but also eliminates the necessity of creating multiple accounts with other storage services to fulfill their storage requirements.

As of July 2024, TeraBox boasts over 320 million registered users worldwide, with more than 20 million active daily users across over 231 countries and regions. The platform ensures top-tier security by employing advanced measures such as TLS/SSL protocols, encryption algorithms, and access controls. TeraBox is accredited with ISO standards (ISO 27001/27701/27018) certifications to protect the safety of data storage and transmission. These technologies also guarantee the stored and transmitted information is safe through client-side endpoint encryption within a large-scale distributed system architecture.

About TeraBox

TeraBox, developed by Flextech Inc., is a globally trusted cloud storage app headquartered in Tokyo, Japan. With a focus on intelligent, efficient, and secure cloud storage, TeraBox is dedicated to providing users with innovative and user-friendly solutions for their data storage needs. Download the TeraBox App on Android, iOS, Linux, Mac, and Windows devices, or visit www.terabox.com for online access. To learn more about the fantastic Referral Program, please visit the provided site.

View original content:https://www.prnewswire.com/apac/news-releases/terabox-is-set-to-provide-premier-cloud-storage-solutions-to-top-indonesian-university-faculty-and-students-302254286.html

SOURCE Flextech Inc.

Technology

Elmo Motion Control Exhibiting at Industrial Automation Show in Shanghai, China

Published

58 mins ago

September 23, 2024

Elmo brings live demonstrations to present the power of motion to Hall 5.1 in Booth E181.

PETAH TIKVA, Israel, Sept. 23, 2024 /PRNewswire/ — Elmo Motion Control, a global technology leader in motion control solutions, announces its participation at the annual IAS (Industrial Automation Show) exhibition at NECC in Shanghai, China, from September 24 to September 28. At the show, Elmo will display the Platinum line of servo drives, which include fully certified Functional Safety capabilities in small yet powerful packages, and conduct live demonstrations.

Elmo’s featured demonstrations will include an operating customer XYZT stage dynamic demo with four-axis movement controlled by a single multi-axis servo drive – the Platinum Quartet. Also on the floor will be a multi-axis gantry machine from our customer PBA Systems PTE Ltd and more. In addition, visitors can be the first in China to see the future of motion control – the next-generation motion controller with artificial intelligence readiness and a new line of multi-axis servo drives.

“We look forward to greeting visitors at this year’s show and presenting the latest Elmo products. On display throughout our booth is the future of motion control and the experience of seeing our multi-axis products in action. This year, we created an environment for machine developers to learn about advanced motion performance for any application in real-time,” stated Dr. Wayne Chen, Elmo China GM.

About Elmo Motion Control

Elmo has been a motion control technology leader for over 35 years, with millions of servo drives working 24/7 worldwide. Elmo offers complete motion control solutions from design to delivery of cutting-edge servo drives, network-based multi-axis motion controllers, and integrated servo motors. All solutions can be customized and configured using Elmo’s proprietary advanced and easy-to-use software tools for any machine in any industry, such as semiconductors, lasers, robots, life sciences, industrial automation, AGV, and more. The company employs more than 350 personnel with headquarters in Israel and offices in the United States, China, Germany, Italy, Korea, Singapore, and an additional manufacturing facility in Poland. Elmo has a worldwide distribution network. By advancing motion control with state-of-the-art technology, Elmo makes smart machines even smarter. As of 2022, Elmo is a Bosch Rexroth company.

For more information, visit www.elmomc.com or email marketing@elmomc.com.

Elmo Motion Control:
Robert Dugan, Marketing Manager at Elmo Motion Control
T: +972-(3)-929-2300 (ext. 368)
E: robertd@elmom.com

View original content:https://www.prnewswire.com/apac/news-releases/elmo-motion-control-exhibiting-at-industrial-automation-show-in-shanghai-china-302254926.html

SOURCE Elmo Motion Control, Ltd.