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Wednesday,01-December-2021

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Trivago loses appeal for misleading consumers over hotel ads

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Maharashtra-hotels

The Full Federal Court in Australia on Wednesday dismissed an appeal by online hotel and accommodation search website Trivago against an earlier decision which found Trivago misled the consumers over hotel ads.

The court said the company had breached the Australian Consumer Law by making misleading representations about hotel room rates on its website and television advertising.

“This is a win for consumers and is an important warning to comparison sites that they must not mislead consumers about the results they recommend,” the Australian Competition and Consumer Commission (ACCC) Chair Rod Sims said in a statement.

“We brought this case because we were concerned that consumers were being misled by Trivago’s claims that their site was getting the best deal for consumers, when in fact they were shown the deals that benefited Trivago”.

The company was yet to make an official statement on the judgement.

In January this year, the Federal Court ruled that Trivago had misled consumers by representing its website would quickly and easily help users identify the cheapest rates available for a given hotel.

The judge at first instance found that Trivago did not sufficiently disclose to users that its website used an algorithm that gave prominence to accommodation providers paying Trivago a higher payment fee (cost per click), meaning that the most prominent offers were often not the cheapest offers for consumers.

The primary judge also found that Trivago misled consumers through the use of strike through prices and text in different colours because Trivago often compared the rate for a standard room with the rate for a luxury room at the same hotel.

“Trivago’s conduct meant that consumers may have paid more for a room at a hotel than they should have, and hotels lost business from direct bookings despite offering a cheaper price,” Sims noted.

The matter will now return to the primary judge, who will consider the orders sought by the ACCC against Trivago at a later date.

Trivago on Tuesday reported a 76 per cent decrease in revenue of 61 million euros in Q3, made an operating loss of 1.4 million euros and a net loss of 2.3 million euros.

The revenue for the nine months ending September 30 was down 467 million euros (year-over-year) in the pandemic times. Trivago said there will be recovery in the second half of 2021.

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Business

Samsung unveils new auto chips for high-end cars

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Samsung Electronics on Tuesday unveiled three new automotive chips as demand for advanced chips is growing among global carmakers to produce cars with better connectivity and more sophisticated infotainment features.

The South Korean tech giant said its latest chip products are designed to enable faster 5G connectivity needed for downloading high-definition video content, immersive in-car infotainment systems and a stable power supply.

“Smarter and more connected automotive technologies for enriched in-vehicle experiences, including entertainment, safety and comfort, are becoming critical features on the road,” Park Jae-hong, executive vice president of the company’s System LSI Custom SOC Business, said in a statement.

Among the three, the Exynos Auto V7 in-vehicle infotainment system is installed in Volkswagen’s latest In-Car Application-Server (ICAS) 3.1, developed by LG Electronics’ vehicle component solutions division, the company said.

The chip comes with a neural processing unit “for convenient services, such as virtual assistance that can process visual and audio data for face, speech and gesture recognition features.”

Samsung has ramped up efforts to develop advanced chips for cars, a market that has grown significantly in recent years fueled by higher levels of car electrification and a further uptake in electric vehicles, reports Yonhap news agency.

More cars are now being equipped with advanced features like artificial intelligence and 5G-based telecommunications.

London-based research firm IHS Markit forecast the global market for automotive semiconductors to grow 7 percent annually to reach $67.6 billion in 2026.

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Business

Go Fashion shares listed 90% over issue price on debut

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Shares of Go Fashion made its debut on the exchanges on Tuesday with a premium of 90 per cent over its issue price of Rs 690 at Rs 1,316.

On the listing day, the shares of the company settled at Rs 1,250.

“As the number of working women is increasing along with evolving fashion trends, it is expected that the company can have a strong growth momentum,” said Santosh Meena, Head of Research at Swastika Investmart.

“The company has a strong management team with a mixed bag of financials and it is expected that it may perform well,” Meena added.

The investors who got the allotment can put a stop loss of Rs 1,000 and hold the stock with a long-term view, while safe investors can book the profit and wait for new buying opportunities at the lower levels, Meena added.

Founded in 2010, Go Fashion is a women’s wear brand.

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Business

India to see 500 mn 5G mobile subscriptions by 2027: Report

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The 5G technology will represent around 39 per cent of mobile subscriptions in India at the end of 2027, estimated at about 500 million subscriptions, a new Ericsson report said on Tuesday.

The number of smartphone subscriptions is expected to be 810 million at the end of 2021 and is projected to grow at a CAGR of 7 per cent, reaching over 1.2 billion by 2027 in the country, according to the mobility report by Swedish telecommunication giant Ericsson.

The average traffic per smartphone in the India region is the second-highest globally and is projected to grow to around 50GB per month in 2027.

“Total mobile data traffic in India has grown from 9.4 EB (exabyte) per month in 2020 to 12 EB per month in 2021 and is projected to increase by more than 4 times to reach 49EB per month in 2027,” the report projected.

According to Nitin Bansal, Head of Ericsson India and Head of Network Solutions for South east Asia, Oceania and India, Ericsson, 5G will serve as a socio-economic multiplier for the country.

“We are preparing the communication service providers for a seamless introduction of 5G in the country based on our global deployment experience , our innovative and competitive 5G portfolio as well as the 5G trials we are doing with Indian operators to showcase the possibilities with 5G,” Bansal said in a statement.

In the India region, 4G is expected to remain the dominant technology in 2027, however the 4G subscriptions are forecast to drop from 790 million in 2021 to 710 million in 2027, showing an annual average decline of 2 per cent.

The reliance on mobile networks to stay connected and work from home has contributed to the average traffic per smartphone increasing to 18.4GB per month in 2021, up from 16.1GB per month in 2020.

The average traffic per smartphone in the India region is the second-highest globally and is projected to grow to around 50GB per month in 2027, the report mentioned.

Ericsson recently carried out 5G trials with Airtel and Vi, where it demonstrated enhanced mobile broadband and Fixed Wireless Access (FWA) use cases with 5G.

Globally, there has been almost 300-fold increase in mobile data traffic since 2011, the report noted.

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