Daily Tech Snippet: Wednesday, July 6

• Samsung Set to Boost Spending as S7 Revives Smartphone Fortunes: After ending a two-year smartphone slide with the Galaxy S7, Samsung Electronics Co. could be about to hike capital spending to sustain a revival across the company. At least $5 billion more of investment is headed to the display and semiconductor businesses, according to a survey of analyst estimates, to help Samsung ride out bumps in the phone market. Such a move reflects new optimism about the company after the success of the Galaxy S7, with the shares rallying 17 percent this year.“Samsung’s smartphone business has finally had a soft landing after a bumpy ride,” said Chung Chang Won, an analyst at Nomura Holdings Inc. in Seoul. Samsung will probably boost spending on memory and displays, which “are poised for a sudden rise as the next growth drivers.”But with growth in the global smartphone market evaporating, it needs to build up its other major businesses as competitors bring out new products in an attempt to spark growth.

• Tesla Falls After Paring Delivery Forecast Amid Factory Strains: Tesla Motors Inc. fell after the electric-car maker missed second-quarter forecast for global deliveries and lowered its full-year outlook, citing an “extreme” increase in output in the period’s final month. The shares slid 3.3 percent to $209.40 at 9:35 a.m. New York time. They declined 9.8 percent this year through Friday. Deliveries of 14,370 vehicles trailed a projection of about 17,000, after an “extreme production ramp” came too late in the quarter to get the cars to their buyers, Tesla said Sunday. About half of the quarter’s output in the final four weeks.The carmaker has had trouble getting its vehicles to customers fast enough to meet its targets even after increasing production. Tesla said 5,150 cars were still on trucks and ships making their way to clients who ordered them, and will be delivered in the first part of this quarter. Tesla is increasing output at its Fremont, California, factory with an eye toward making 500,000 cars a year by 2018 -- an ambitious timeline that also depends on the carmaker’s battery factory east of Reno, Nevada, coming online with battery-cell production. Tesla missed its deliveries forecast for the second time in a row this year. In the first quarter, the company blamed the shortfall on “hubris” in adding in too much new technology that led to part shortages for the Model X.

• BookMyShow secures $81.5 mn from Stripes Group, others: Movie ticketing platform BookMyShow has raised Rs 550 crore ($81.5 million) from existing and new investors in one of the largest funding rounds for an Indian consumer Internet firm in recent months. BookMyShow’s Mumbai-based parent Bigtree Entertainment Pvt Ltd. said on Tuesday it raised the Series C funding round from investors led by New York-based investment firm Stripes Group. Existing investors Network 18, Accel Partners and SAIF Partners also took part in this round. This round takes the total amount the company has raised to $128 million (Rs 863 crore), making it one of the most heavily funded firms in the media and entertainment sector. The company last raised $25 million (Rs 150 crore) from SAIF Partners, Accel Partners and Network18 in 2014.The latest funding round values the Indian company at $445 million (Rs 3,000 crore), The Economic Times reported citing company sources.The latest funding round values the Indian company at $445 million (Rs 3,000 crore), The Economic Times reported citing company sources.

• Five days of Etsy payment processing outages have merchants flipping: Those hoping to snag some handmade July 4th cookies and home-made vegan sunblockmight have woken up to an empty stomach and sunburn after a serious payment processing outage on e-commerce site Etsy. Over the last five days, a large number of Etsy transactions have been disrupted by “third party” payment processing outages. As of 6pm PST July 5th, over 4,000 messages of frustration have been posted in the company’s Bugs Community Forum. After the Direct Checkout outage, many merchants were left with their hands in their laps explaining delays to buyers. The outage is especially tough for sellers who have to face angry customers. It’s all too easy for an unhappy buyer to blame the seller in a negative review for an outage out of their control.