WASHINGTON (Reuters) - The Pentagon on Wednesday said it would continue to support 'large numbers' of BlackBerry phones made by Research in Motion Ltd even as it moves forward with plans that would allow the U.S. military to begin using Apple Inc's iPhone and other devices.
The U.S. Defense Department last week invited companies to submit bids for software that can monitor, manage and enforce security requirements for devices made by Apple and Google Inc, with an eye to awarding a contract in April.
The Defense Information Systems Agency (DISA) quietly posted its request for proposals on a federal website on October 22, the same day that the U.S. Immigration and Customs Enforcement Agency said it would end its contract with RIM in favor of Apple's iPhone.
Losing some of its Pentagon business to other providers could deal another blow to RIM, which once commanded the lead in the smartphone market but has rapidly lost ground to Apple and Samsung's line of products as customers abandon its aging BlackBerry devices.
For many years, the Pentagon relied solely on BlackBerry phones because RIM met its tough security requirements, but other companies have been improving security on their devices, and a growing number of military commanders are clamoring for rival devices with bigger touch screens and faster browsers.
A Pentagon spokesman said the U.S. military was working toward allowing vendors to supply other smartphones, while maintaining strict security requirements.
He said the department aimed to use commercial mobile technologies as it stepped up the use of 'new and innovative applications' to support the military's evolving requirements.
But the Pentagon also stressed it was not moving away from its use of BlackBerry phones.
'DISA is managing an enterprise email capability that continues to support large numbers of RIM devices while moving forward with the department's planned mobile management capability that will support a variety of mobility devices,' the spokesman said.
The DISA request for proposals said the software would manage at least 162,500 devices to start, but that number could grow to 262,500 by the end of the contract, which will have a one-year base and four six-month options.
Ultimately, the Pentagon wants the software to support a total of 8 million devices, according to the document.
RIM spokesman Paul Lucier said his company's BlackBerry Mobile Fusion product could also be used to manage Android and Apple devices, and RIM was 'excited for the opportunity to include BlackBerry Mobile Fusion in the DOD's portfolio.'
Lucier said the product could enable the Pentagon to 'support a growing number of mobile devices across multiple platforms.'
Waterloo, Ontario-based RIM is also planning to introduce new smartphones that will run on the BlackBerry 10 operating system, offering a faster and smoother user interface and a better platform for various smartphone applications.
(Reporting By Andrea Shalal-Esa; Editing by Tim Dobbyn)
This news article is brought to you by SAVING MONEY BLOG - where latest news are our top priority.
Wednesday, October 31, 2012
TSX climbs to one-week high as mining stocks surge
TORONTO (Reuters) - Canada's main stock index rose on Wednesday, as stronger commodity prices drove materials stocks higher and Research in Motion charged ahead after it said it was on track to launch its new BlackBerry 10 next year.
The materials group rose 1.2 percent as gold prices reached their highest in a week. Copper prices also strengthened.
Centerra Gold charged ahead 6.4 percent to C$11.33, while Yamana Gold surged 3.5 percent to C$20.17.
Also boosting interest in the sector was Potash Corp, which climbed 0.5 percent to C$40.15, after the fertilizer company confirmed its interest in increasing its stake in Israel Chemical Ltd.
'People are certainly feeling more confident in the resource sector,' said Paul Harris, portfolio manager at Avenue Investment Management. 'Canadian stocks have been beaten up this year. You're seeing some pickup of that.'
Volumes on Toronto's stock market picked up as U.S. equity markets resumed trading after a two-day closure due to storm Sandy. <.N>
A total of 332.9 million shares were traded on the Canadian bourse, nearly double the 178.3 million shares traded on Tuesday when U.S. markets were closed.
'It's a fairly positive tone here. There is nothing acting as a dramatic catalyst,' said Bob Gorman, chief portfolio strategist at TD Waterhouse.
The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended the session up 45.86 points, or 0.37 percent, at 12,422.91.
The index rose as high as 12,462.26, its strongest level in more than a week. Eight of the ten TSX subgroups ended positive.
RIM, once the largest stock on the exchange, rose 3.7 percent to C$7.88, helping drive the TSX info tech sector up 1.4 percent.
The company said it had started carrier testing on its new line of BlackBerry 10 devices and said it was on track to launch the new smartphones in the first quarter of 2013.
Financial stocks climbed 0.3 percent, led by property and casualty insurer Intact Financial, which rose 2.6 percent to C$61.25, and life insurer Great-West Lifeco , which gained 1.5 percent to C$23.00.
'There's a feeling of confidence. It isn't going to go overboard. It is managed confidence that we're seeing is reflected in the market,' said Fred Ketchen, director of equity trading at ScotiaMcLeod.
The energy sector was one of the few areas of weakness, down 0.2 percent, as Encana Corp, Canada's largest gas producer, fell 2.8 percent to C$22.50.
Cenovus Energy Inc, Canada's No. 2 independent oil producer, rose 1.3 percent to C$35.23 after SocGen upgraded its recommendation to 'buy' from 'hold'.
Brent crude rose to about $109 a barrel, though the gains were limited by concerns over demand impact on the United States.
(Additional reporting by Cameron French; editing by Andrew Hay)
This article is brought to you by BUY AFFORDABLE COMPUTERS.
The materials group rose 1.2 percent as gold prices reached their highest in a week
Centerra Gold
Also boosting interest in the sector was Potash Corp
'People are certainly feeling more confident in the resource sector,' said Paul Harris, portfolio manager at Avenue Investment Management. 'Canadian stocks have been beaten up this year. You're seeing some pickup of that.'
Volumes on Toronto's stock market picked up as U.S. equity markets resumed trading after a two-day closure due to storm Sandy. <.N>
A total of 332.9 million shares were traded on the Canadian bourse, nearly double the 178.3 million shares traded on Tuesday when U.S. markets were closed.
'It's a fairly positive tone here. There is nothing acting as a dramatic catalyst,' said Bob Gorman, chief portfolio strategist at TD Waterhouse.
The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended the session up 45.86 points, or 0.37 percent, at 12,422.91.
The index rose as high as 12,462.26, its strongest level in more than a week. Eight of the ten TSX subgroups ended positive.
RIM, once the largest stock on the exchange, rose 3.7 percent to C$7.88, helping drive the TSX info tech sector up 1.4 percent.
The company said it had started carrier testing on its new line of BlackBerry 10 devices and said it was on track to launch the new smartphones in the first quarter of 2013.
Financial stocks climbed 0.3 percent, led by property and casualty insurer Intact Financial
'There's a feeling of confidence. It isn't going to go overboard. It is managed confidence that we're seeing is reflected in the market,' said Fred Ketchen, director of equity trading at ScotiaMcLeod.
The energy sector was one of the few areas of weakness, down 0.2 percent, as Encana Corp
Cenovus Energy Inc
Brent crude rose to about $109 a barrel, though the gains were limited by concerns over demand impact on the United States.
(Additional reporting by Cameron French; editing by Andrew Hay)
This article is brought to you by BUY AFFORDABLE COMPUTERS.
RIM's CEO says new BlackBerry phone being tested
TORONTO (AP) - BlackBerry maker Research In Motion says its much-delayed new smartphones are now being tested by 50 wireless carriers around the world.
The Canadian company said Wednesday that it is a critical milestone as it prepares to launch the new BlackBerry 10 software and phones in the first quarter next year.
The phones have been deemed critical to RIM's survival. The release will come as North Americans are abandoning BlackBerrys for flashier iPhones and Android phones.
New Chief Executive Thorsten Heins had vowed to do everything he could to release BlackBerry 10 this year but he said in June that the timetable simply wasn't realistic.
RIM was once Canada's most valuable company with a market value of more than $80 billion in 2008, but the stock has plummeted since.
This news article is brought to you by MOVIE GOSSIP NEWS - where latest news are our top priority.
The Canadian company said Wednesday that it is a critical milestone as it prepares to launch the new BlackBerry 10 software and phones in the first quarter next year.
The phones have been deemed critical to RIM's survival. The release will come as North Americans are abandoning BlackBerrys for flashier iPhones and Android phones.
New Chief Executive Thorsten Heins had vowed to do everything he could to release BlackBerry 10 this year but he said in June that the timetable simply wasn't realistic.
RIM was once Canada's most valuable company with a market value of more than $80 billion in 2008, but the stock has plummeted since.
This news article is brought to you by MOVIE GOSSIP NEWS - where latest news are our top priority.
Apple's iPad mini packs full-sized punch but screen inferior: reviews
SAN FRANCISCO (Reuters) - Apple Inc's entry in the accelerating mobile tablet race squeezes about 35 percent more viewing space onto a lighter package than rival devices from Google or Amazon.com Inc, but it sports inferior resolution and a lofty price tag, two influential reviewers wrote on Tuesday.
The iPad mini, which starts at $329 versus the $199 for Google's Nexus 7 and Amazon's Kindle Fire HD, is easy to hold with one hand, eliminating a drawback of the 10-inch iPad, Wall Street Journal columnist Walt Mossberg wrote in one of the first major reviews of a gadget introduced last week.
Both Mossberg and New York Times columnist David Pogue offered kudos for cramming most of its full-sized cousin's functions onto a smaller device, as advertised.
But the iPad mini's 1024 x 768 resolution was a big step backwards from the iPad's much-touted Retina display, and underperformed the rival Kindle and Nexus, the two reviewers agreed.
Mossberg said Apple chose to go with a lower-quality display because the existing 250,000-plus iPad applications could only run unmodified in two resolutions - and the higher level would have sapped too much power.
'The lack of true HD gives the Nexus and Fire HD an advantage for video fans. In my tests, video looked just fine, but not as good as on the regular iPad,' Mossberg wrote.
The original iPad was launched in 2010 and went on to upend the personal computer industry, spawning a raft of similar devices. The iPad mini marks Apple's first foray into a smaller 7-inch segment that Amazon's Kindle Fire now dominates, demonstrating demand exists for such a device.
Apple, making its boldest consumer hardware move since Tim Cook took the helm from late co-founder Steve Jobs, hopes the smaller tablet can beat back incursions onto its home turf of consumer electronics.
'In shrinking the iconic iPad, Apple has pulled off an impressive feat,' Mossberg wrote. 'It has managed to create a tablet that's notably thinner and lighter than the leading small competitors with 7-inch screens, while squeezing in a significantly roomier 7.9-inch display.
'And it has shunned the plastic construction used in its smaller rivals to retain the iPad's sturdier aluminum and glass body.'
Mossberg, whose reviews are followed closely by consumers and tech companies alike, wrote that the iPad mini did as advertised by bringing the full-sized iPad experience onto a smaller screen.
He noted, however, that the device was too large to fit easily into pockets. It exhibited battery life of about 10 hours and 27 minutes, an hour more than the Kindle Fire at the same settings, but about 17 minutes less than the Nexus 7.
'By pricing the Mini so high, Apple allows the $200 class of seven-inch Android tablets and readers to live,' Pogue wrote.
'But the iPad Mini is a far classier, more attractive, thinner machine. It has two cameras instead of one. Its fit and finish are far more refined. And above all, it offers that colossal app catalog, which Android tablet owners can only dream about.'
(Reporting By Edwin Chan; Editing by Ken Wills)
This news article is brought to you by GADGETS NEWS - where latest news are our top priority.
The iPad mini, which starts at $329 versus the $199 for Google's Nexus 7 and Amazon's Kindle Fire HD, is easy to hold with one hand, eliminating a drawback of the 10-inch iPad, Wall Street Journal columnist Walt Mossberg wrote in one of the first major reviews of a gadget introduced last week.
Both Mossberg and New York Times columnist David Pogue offered kudos for cramming most of its full-sized cousin's functions onto a smaller device, as advertised.
But the iPad mini's 1024 x 768 resolution was a big step backwards from the iPad's much-touted Retina display, and underperformed the rival Kindle and Nexus, the two reviewers agreed.
Mossberg said Apple chose to go with a lower-quality display because the existing 250,000-plus iPad applications could only run unmodified in two resolutions - and the higher level would have sapped too much power.
'The lack of true HD gives the Nexus and Fire HD an advantage for video fans. In my tests, video looked just fine, but not as good as on the regular iPad,' Mossberg wrote.
The original iPad was launched in 2010 and went on to upend the personal computer industry, spawning a raft of similar devices. The iPad mini marks Apple's first foray into a smaller 7-inch segment that Amazon's Kindle Fire now dominates, demonstrating demand exists for such a device.
Apple, making its boldest consumer hardware move since Tim Cook took the helm from late co-founder Steve Jobs, hopes the smaller tablet can beat back incursions onto its home turf of consumer electronics.
'In shrinking the iconic iPad, Apple has pulled off an impressive feat,' Mossberg wrote. 'It has managed to create a tablet that's notably thinner and lighter than the leading small competitors with 7-inch screens, while squeezing in a significantly roomier 7.9-inch display.
'And it has shunned the plastic construction used in its smaller rivals to retain the iPad's sturdier aluminum and glass body.'
Mossberg, whose reviews are followed closely by consumers and tech companies alike, wrote that the iPad mini did as advertised by bringing the full-sized iPad experience onto a smaller screen.
He noted, however, that the device was too large to fit easily into pockets. It exhibited battery life of about 10 hours and 27 minutes, an hour more than the Kindle Fire at the same settings, but about 17 minutes less than the Nexus 7.
'By pricing the Mini so high, Apple allows the $200 class of seven-inch Android tablets and readers to live,' Pogue wrote.
'But the iPad Mini is a far classier, more attractive, thinner machine. It has two cameras instead of one. Its fit and finish are far more refined. And above all, it offers that colossal app catalog, which Android tablet owners can only dream about.'
(Reporting By Edwin Chan; Editing by Ken Wills)
This news article is brought to you by GADGETS NEWS - where latest news are our top priority.
Panasonic's red ink grows, forecasts loss for year
TOKYO (AP) - Panasonic Corp.'s losses ballooned to 698 billion yen ($8.7 billion) for the fiscal second quarter compared to the previous year as its global sales plunged in flat-panel TVs, laptops and other gadgets.
Restructuring costs added to the Japanese electronics company's red ink, which proved far worse than the 105.8 billion yen loss racked up for the July-September period last year.
The Osaka-based maker of Viera TVs and Lumix digital cameras revised its full year forecast from an earlier projection of a small profit at 50 billion yen ($625 million) to a massive annual loss of 765 billion yen ($9.6 billion).
Behind the pessimism are lower sales expectations for the year through March 2013, and restructuring expenses that are larger than initially estimated, according to the company.
This news article is brought to you by PARENTING KIDS - where latest news are our top priority.
Restructuring costs added to the Japanese electronics company's red ink, which proved far worse than the 105.8 billion yen loss racked up for the July-September period last year.
The Osaka-based maker of Viera TVs and Lumix digital cameras revised its full year forecast from an earlier projection of a small profit at 50 billion yen ($625 million) to a massive annual loss of 765 billion yen ($9.6 billion).
Behind the pessimism are lower sales expectations for the year through March 2013, and restructuring expenses that are larger than initially estimated, according to the company.
This news article is brought to you by PARENTING KIDS - where latest news are our top priority.
Tuesday, October 30, 2012
Everybody Loves the iPad Mini
The reviews for the latest hyped-about Apple device are in and, surprise surprise, everybody thinks it's amazing. The iPad Mini was announced last week after a seemingly never-ending torrent of rumors about its existence, and with just two days left before the device hits store, the embargo on the reviews was just lifted. Like we said, the reaction, so far, is expectedly ecstatic.
RELATED: The iPad Mini Event Invites Are Out
It's so pretty!
RELATED: Why Is Apple So Scared?
This is more or less the first thing out of any reviewers mouth (or fingertips) when talking about a new Apple device. We get it. Apple makes beautiful objects. How beautiful? "If the iPhone 5 is reminiscent of jewelry, the iPad mini is like a solidly made watch," wrote The Verge's Joshua Topolsky. "The iPad mini's paint job is similar to the iPhone's, but smoother, and on the black version I tested has a glint of blue and purple to it in certain light. It looks dangerous, and it feels great."
RELATED: What Does 'Sold Out' Mean for the iPad Mini?
It's so small!
RELATED: Apple CEO Is Sure You Will Hate Your Cheap Non-Apple Tablet
So the big thing about the iPad Mini is that it's smaller. This feels incredibly obvious, but tech bloggers are still blown away by just how much smaller it is. It's really small! "The most striking thing about the mini is in how thin and light it is. It is really thin and light," wrote Bloomberg Businessweek's Rich Jaroslovsky. "Crazy thin and crazy light, even." We saw this one coming, Rich. Impossibly thin has been Apple's jam ever since the MacBook Air debuted in 2008, and after the iPhone 5 stunned reviewers with its lack of heft, we should have expected the iPad Mini to be truly mini. As Jaroslovsky points out, though, it impressively beat competitors on weight and thickness -- it's 21 percent lighter than the Kindle Fire HD and 30 percent thinner -- despite having a larger screen.
RELATED: Google Doesn't Get the Importance of Gadget Packaging
It's so comparable!
At this point in time, it feels wildly cliché to drop the whole "It's just like the iPad only smaller!" line, but it's so wildly true. Everyone seems thrilled that the iPad Mini has instant access to the 275,000-plus iPad apps as well as the 700,000 iOS apps currently on the market. That's mostly because, the smaller package also sports the same screen resolution as the iPad 2. It's not jaw-droppingly sharp like the Retina display or anything, but it'll do.
Come to think of it, though, this lower resolution screen is a real down side. The Kindle HD is a little bit thicker and heavier, but Transformers 2 looks awesome on the high resolution screen. Maybe the difference isn't that big a deal, though. "Apple insists the device does better than standard definition, if you are obtaining the video from its iTunes service, since iTunes scales the video for the device, so it will render somewhere between standard definition and HD," explained The Wall Street Journal's Walt Mossberg. "In my tests, video looked just fine, but not as good as on the regular iPad."
It's kind of expensive!
The $329 the iPad Mini is not the $199 Kindle Fire HD, and it is not the $199 Google Nexus 7. It's significantly more expensive, but it's also built out of aluminum and glass rather than plastic. Expensive is bad, right? No, silly goose. We're talking about an Apple product here. The fact that it cost so much is practically generous on Apple's part. "By pricing the Mini so high, Apple allows the $200 class of seven-inch Android tablets and readers to live (Google Nexus, Kindle Fire HD, Nook HD)," wrote David Pogue at The New York Times. "But the iPad Mini is a far classier, more attractive, thinner machine. It has two cameras instead of one. Its fit and finish are far more refined. And above all, it offers that colossal app catalog, which Android tablet owners can only dream about."
Class, glass and apps. All in the iPad Mini. Get in line now.
This news article is brought to you by GADGETS NEWS - where latest news are our top priority.
RELATED: The iPad Mini Event Invites Are Out
It's so pretty!
RELATED: Why Is Apple So Scared?
This is more or less the first thing out of any reviewers mouth (or fingertips) when talking about a new Apple device. We get it. Apple makes beautiful objects. How beautiful? "If the iPhone 5 is reminiscent of jewelry, the iPad mini is like a solidly made watch," wrote The Verge's Joshua Topolsky. "The iPad mini's paint job is similar to the iPhone's, but smoother, and on the black version I tested has a glint of blue and purple to it in certain light. It looks dangerous, and it feels great."
RELATED: What Does 'Sold Out' Mean for the iPad Mini?
It's so small!
RELATED: Apple CEO Is Sure You Will Hate Your Cheap Non-Apple Tablet
So the big thing about the iPad Mini is that it's smaller. This feels incredibly obvious, but tech bloggers are still blown away by just how much smaller it is. It's really small! "The most striking thing about the mini is in how thin and light it is. It is really thin and light," wrote Bloomberg Businessweek's Rich Jaroslovsky. "Crazy thin and crazy light, even." We saw this one coming, Rich. Impossibly thin has been Apple's jam ever since the MacBook Air debuted in 2008, and after the iPhone 5 stunned reviewers with its lack of heft, we should have expected the iPad Mini to be truly mini. As Jaroslovsky points out, though, it impressively beat competitors on weight and thickness -- it's 21 percent lighter than the Kindle Fire HD and 30 percent thinner -- despite having a larger screen.
RELATED: Google Doesn't Get the Importance of Gadget Packaging
It's so comparable!
At this point in time, it feels wildly cliché to drop the whole "It's just like the iPad only smaller!" line, but it's so wildly true. Everyone seems thrilled that the iPad Mini has instant access to the 275,000-plus iPad apps as well as the 700,000 iOS apps currently on the market. That's mostly because, the smaller package also sports the same screen resolution as the iPad 2. It's not jaw-droppingly sharp like the Retina display or anything, but it'll do.
Come to think of it, though, this lower resolution screen is a real down side. The Kindle HD is a little bit thicker and heavier, but Transformers 2 looks awesome on the high resolution screen. Maybe the difference isn't that big a deal, though. "Apple insists the device does better than standard definition, if you are obtaining the video from its iTunes service, since iTunes scales the video for the device, so it will render somewhere between standard definition and HD," explained The Wall Street Journal's Walt Mossberg. "In my tests, video looked just fine, but not as good as on the regular iPad."
It's kind of expensive!
The $329 the iPad Mini is not the $199 Kindle Fire HD, and it is not the $199 Google Nexus 7. It's significantly more expensive, but it's also built out of aluminum and glass rather than plastic. Expensive is bad, right? No, silly goose. We're talking about an Apple product here. The fact that it cost so much is practically generous on Apple's part. "By pricing the Mini so high, Apple allows the $200 class of seven-inch Android tablets and readers to live (Google Nexus, Kindle Fire HD, Nook HD)," wrote David Pogue at The New York Times. "But the iPad Mini is a far classier, more attractive, thinner machine. It has two cameras instead of one. Its fit and finish are far more refined. And above all, it offers that colossal app catalog, which Android tablet owners can only dream about."
Class, glass and apps. All in the iPad Mini. Get in line now.
This news article is brought to you by GADGETS NEWS - where latest news are our top priority.
Monday, October 29, 2012
Microsoft: Windows Phone to catch up in apps
NEW YORK (AP) - Microsoft launched a new version of its Windows Phone software with broad support from smartphone makers, cellphone carriers and app developers as the software company tries to position new Windows gadgets as strong alternatives to Apple and Android devices.
The company also promised to address one of the chief shortcomings with Windows Phone: the dearth of third-party applications relative to offerings for Apple's iPhone and devices running Google's Android system.
Windows Phone 8 is the successor to Windows Phone 7, which launched two years ago but has had little traction in the market. The new software will run on more powerful phones with flagship models coming from Nokia, Samsung and HTC. Together, they'll launch eight Windows Phone 8 smartphones before the year is out, starting this weekend overseas and later in November in the U.S.
'People all over the world are about to fall in love with Windows Phones,' Microsoft CEO Steve Ballmer said at the Windows Phone 8 launch event in San Francisco on Monday.
Microsoft said it will also catch up in offering third-party apps. There are 120,000 applications available for Windows Phone, but some apps that are popular on other systems are notably missing from Windows Phone because it can be hard to get developers interested in writing programs for a small number of smartphones.
Microsoft is patching some of those holes soon: Microsoft vice president Joe Belfiore said Internet radio service Pandora is coming to Windows Phone 8, along with games such as 'Where's My Water?' Soon, he said, 46 of the 50 most popular smartphone apps will be available.
The company is also releasing an app for Skype, the Internet calling service it owns. The Skype app available for Windows Phone 7 was an unfinished, or 'beta' version. The new Skype app will run in the background, listening for incoming calls without placing any drain on the battery, Belfiore said.
Microsoft scored a big endorsement from Verizon Wireless, the largest cellphone carrier in the U.S. It will carry three Windows Phones this holiday season, including its first Nokia phone in many years. No. 2 AT&T Inc. and No. 4 T-Mobile USA will also carry Windows Phones from Nokia and HTC, leaving only No. 3 Sprint Nextel Corp. out.
Verizon executives have said that they want to see a viable 'third ecosystem' alongside Apple's iPhone and Google's Android. Having more potential partners to work with provides the carriers with more leverage against each one and would make them less dependent on the whims of Apple and Google.
Microsoft released Windows 8 for desktops, laptops and tablets last week. That event was devoid of surprises, as Microsoft needed to work with hundreds of partners such as computer makers ahead of time. With smartphone software, the number of partners is much smaller, so Microsoft was able to save some details for Monday's launch event.
For example, Belfiore revealed that Windows Phone 8 will come with a 'Kid's Corner' feature. If enabled, kids will be able to start up the phone from the lock screen, gaining access to apps and games that the phone's owner has designated as safe for them. Belfiore brought his three children on stage to demonstrate the feature. Actress Jessica Alba lent star power to the event, endorsing Kid's Corner as a 'busy mom.'
Owners will also be able link apps to their lock screen, giving them at-a-glance information such as sports scores.
Windows 8 for computers has borrowed its look from Windows Phone 7, presenting applications not as icons but as 'Live Tiles,' which can be animated with data from the application. For instance, the 'Pictures' tile shows a slideshow.
The live tiles and the distinctive user interface remain Microsoft's biggest selling points for Windows Phone. In terms of third-party applications and the features of the phones, it's mostly playing catch-up to the iPhone and Android.
Microsoft will be emphasizing the consistent look across devices in a massive advertising campaign that will talk not just about its new software, but its venture in hardware manufacturing. On Friday, Microsoft released its first tablet computer, the Surface.
'Between Windows 8, Microsoft Surface or Windows Phone 8, you won't be able to turn on the TV or open a magazine without seeing a Microsoft Windows ad,' Ballmer said.
This news article is brought to you by GIRLS TEACH DATING - where latest news are our top priority.
The company also promised to address one of the chief shortcomings with Windows Phone: the dearth of third-party applications relative to offerings for Apple's iPhone and devices running Google's Android system.
Windows Phone 8 is the successor to Windows Phone 7, which launched two years ago but has had little traction in the market. The new software will run on more powerful phones with flagship models coming from Nokia, Samsung and HTC. Together, they'll launch eight Windows Phone 8 smartphones before the year is out, starting this weekend overseas and later in November in the U.S.
'People all over the world are about to fall in love with Windows Phones,' Microsoft CEO Steve Ballmer said at the Windows Phone 8 launch event in San Francisco on Monday.
Microsoft said it will also catch up in offering third-party apps. There are 120,000 applications available for Windows Phone, but some apps that are popular on other systems are notably missing from Windows Phone because it can be hard to get developers interested in writing programs for a small number of smartphones.
Microsoft is patching some of those holes soon: Microsoft vice president Joe Belfiore said Internet radio service Pandora is coming to Windows Phone 8, along with games such as 'Where's My Water?' Soon, he said, 46 of the 50 most popular smartphone apps will be available.
The company is also releasing an app for Skype, the Internet calling service it owns. The Skype app available for Windows Phone 7 was an unfinished, or 'beta' version. The new Skype app will run in the background, listening for incoming calls without placing any drain on the battery, Belfiore said.
Microsoft scored a big endorsement from Verizon Wireless, the largest cellphone carrier in the U.S. It will carry three Windows Phones this holiday season, including its first Nokia phone in many years. No. 2 AT&T Inc. and No. 4 T-Mobile USA will also carry Windows Phones from Nokia and HTC, leaving only No. 3 Sprint Nextel Corp. out.
Verizon executives have said that they want to see a viable 'third ecosystem' alongside Apple's iPhone and Google's Android. Having more potential partners to work with provides the carriers with more leverage against each one and would make them less dependent on the whims of Apple and Google.
Microsoft released Windows 8 for desktops, laptops and tablets last week. That event was devoid of surprises, as Microsoft needed to work with hundreds of partners such as computer makers ahead of time. With smartphone software, the number of partners is much smaller, so Microsoft was able to save some details for Monday's launch event.
For example, Belfiore revealed that Windows Phone 8 will come with a 'Kid's Corner' feature. If enabled, kids will be able to start up the phone from the lock screen, gaining access to apps and games that the phone's owner has designated as safe for them. Belfiore brought his three children on stage to demonstrate the feature. Actress Jessica Alba lent star power to the event, endorsing Kid's Corner as a 'busy mom.'
Owners will also be able link apps to their lock screen, giving them at-a-glance information such as sports scores.
Windows 8 for computers has borrowed its look from Windows Phone 7, presenting applications not as icons but as 'Live Tiles,' which can be animated with data from the application. For instance, the 'Pictures' tile shows a slideshow.
The live tiles and the distinctive user interface remain Microsoft's biggest selling points for Windows Phone. In terms of third-party applications and the features of the phones, it's mostly playing catch-up to the iPhone and Android.
Microsoft will be emphasizing the consistent look across devices in a massive advertising campaign that will talk not just about its new software, but its venture in hardware manufacturing. On Friday, Microsoft released its first tablet computer, the Surface.
'Between Windows 8, Microsoft Surface or Windows Phone 8, you won't be able to turn on the TV or open a magazine without seeing a Microsoft Windows ad,' Ballmer said.
This news article is brought to you by GIRLS TEACH DATING - where latest news are our top priority.
Sandy forces New York law firms to work remotely
(Reuters) - With Hurricane Sandy bearing down on New York, law firms on Monday scrambled to keep operations running normally, with attorneys working remotely via BlackBerry and computer, and skeletal crews manning offices in midtown Manhattan.
Law firms such as Milbank, Tweed, Hadley & McCloy and Cahill, Gordon & Reindel shuttered their offices because they are in or near the high risk financial-district areas evacuated by the city. Dozens of other firms outside the high risk areas, including Paul, Weiss, Rifkind, Wharton & Garrison and Wachtell, Lipton, Rosen & Katz, took similar precautions.
Firms had various plans to keep their employees informed of developments. Cadwalader, located at One World Financial Center, provided its attorneys with updates about technology safeguards and backup systems via email and an emergency telephone hotline, according to a spokesman.
Telephone calls and faxes to New York were re-routed to the firm's office in Charlotte, North Carolina. Cadwalader also used a meeting space in midtown Manhattan to accommodate about 50 lawyers and support staff who were able to make it to work.
Jonathan Schaffzin, an executive committee member and corporate partner at Cahill Gordon, said that with attorneys working remotely, the storm's effect had been minimal as of Monday morning. But the firm's ability to continue to conduct business would depend on factors beyond its control, such as whether courts or client offices were open, or whether the power went out at a particular lawyer's residence, Schaffzin said.
Federal district courts in Delaware, the District of Columbia, Maryland, New York, New Jersey, and Virginia were closed on Monday, as were the Courts of Appeals for the Second, Third, and D.C. Circuits in New York, Philadelphia, and Washington, D.C., respectively.
'I had a couple deals close this morning actually, so the world moves on,' said Schaffzin, declining to elaborate on the specifics of the deal. 'At some point, everything will grind to a stand-still,' he said.
Lawyers at White & Case, located on Sixth Avenue in midtown, were also working remotely, said partner Mort Pierce. 'In the past, in bad storms, if something had to get done, and people had to be in the office to get the work done, they always found a way,' Pierce said in an email. 'I assume it will be no different this time.'
Attorneys at Perkins Coie's Manhattan office were working to obtain an early filing date for several trading system patent applications for a financial services client, according to a Perkins Coie spokesman.
Firms with a presence outside of the northeastern United States leaned on offices in those cities to pick up some of the slack. Reed Smith's Global Customer Center in Pittsburgh was 'answering the telephones and handling other matters for the closed locations,' Pat Hiltibidal, the firm's chief of offices services, said in an email.
Kramer Levin's backup business continuity center in Long Island, which runs parallel systems to the firm's New York office in case of a power outage, remained on alert.
Hurricane Irene in August 2011 informed some of firms' contingency planning for Hurricane Sandy. Locke Lord provided more information to attorneys this time around, said a spokeswoman. In the event that communications go down in New York, the firm's Chicago office will send out updates on office openings and preparation guidelines via their internal website and a telephone hotline, she said.
(Reporting by Peter Rudegeair, Casey Sullivan and Nate Raymond; editing by Eileen Daspin)
This article is brought to you by BUY CHEAP COMPUTERS.
Law firms such as Milbank, Tweed, Hadley & McCloy and Cahill, Gordon & Reindel shuttered their offices because they are in or near the high risk financial-district areas evacuated by the city. Dozens of other firms outside the high risk areas, including Paul, Weiss, Rifkind, Wharton & Garrison and Wachtell, Lipton, Rosen & Katz, took similar precautions.
Firms had various plans to keep their employees informed of developments. Cadwalader, located at One World Financial Center, provided its attorneys with updates about technology safeguards and backup systems via email and an emergency telephone hotline, according to a spokesman.
Telephone calls and faxes to New York were re-routed to the firm's office in Charlotte, North Carolina. Cadwalader also used a meeting space in midtown Manhattan to accommodate about 50 lawyers and support staff who were able to make it to work.
Jonathan Schaffzin, an executive committee member and corporate partner at Cahill Gordon, said that with attorneys working remotely, the storm's effect had been minimal as of Monday morning. But the firm's ability to continue to conduct business would depend on factors beyond its control, such as whether courts or client offices were open, or whether the power went out at a particular lawyer's residence, Schaffzin said.
Federal district courts in Delaware, the District of Columbia, Maryland, New York, New Jersey, and Virginia were closed on Monday, as were the Courts of Appeals for the Second, Third, and D.C. Circuits in New York, Philadelphia, and Washington, D.C., respectively.
'I had a couple deals close this morning actually, so the world moves on,' said Schaffzin, declining to elaborate on the specifics of the deal. 'At some point, everything will grind to a stand-still,' he said.
Lawyers at White & Case, located on Sixth Avenue in midtown, were also working remotely, said partner Mort Pierce. 'In the past, in bad storms, if something had to get done, and people had to be in the office to get the work done, they always found a way,' Pierce said in an email. 'I assume it will be no different this time.'
Attorneys at Perkins Coie's Manhattan office were working to obtain an early filing date for several trading system patent applications for a financial services client, according to a Perkins Coie spokesman.
Firms with a presence outside of the northeastern United States leaned on offices in those cities to pick up some of the slack. Reed Smith's Global Customer Center in Pittsburgh was 'answering the telephones and handling other matters for the closed locations,' Pat Hiltibidal, the firm's chief of offices services, said in an email.
Kramer Levin's backup business continuity center in Long Island, which runs parallel systems to the firm's New York office in case of a power outage, remained on alert.
Hurricane Irene in August 2011 informed some of firms' contingency planning for Hurricane Sandy. Locke Lord provided more information to attorneys this time around, said a spokeswoman. In the event that communications go down in New York, the firm's Chicago office will send out updates on office openings and preparation guidelines via their internal website and a telephone hotline, she said.
(Reporting by Peter Rudegeair, Casey Sullivan and Nate Raymond; editing by Eileen Daspin)
This article is brought to you by BUY CHEAP COMPUTERS.
Obama's iPod a bit like his electorate _ varied
WASHINGTON (AP) - President Barack Obama's iPod could pass for a voter outreach tool.
Obama ran through his musical tastes Monday during an interview on Cincinnati radio station WIZF. The list is eclectic and all-encompassing and reflects the varied coalition of voters he is seeking to attract.
Obama said old school artists include Stevie Wonder, James Brown, the Rolling Stones and Bob Dylan. More recent tracks are from Jay-Z, Eminem, and the Fugees. Jazz artists John Coltrane, Miles Davis and Gil Scott-Heron are also represented. Obama said there probably isn't a group the interviewer plays that isn't on the president's iPod.
No mention of The Boss, Bruce Springsteen, who has been campaigning for Obama.
Or country music. Much of that vote tilts to the other guy.
This news article is brought to you by WOMEN'S BLOG - where latest news are our top priority.
Obama ran through his musical tastes Monday during an interview on Cincinnati radio station WIZF. The list is eclectic and all-encompassing and reflects the varied coalition of voters he is seeking to attract.
Obama said old school artists include Stevie Wonder, James Brown, the Rolling Stones and Bob Dylan. More recent tracks are from Jay-Z, Eminem, and the Fugees. Jazz artists John Coltrane, Miles Davis and Gil Scott-Heron are also represented. Obama said there probably isn't a group the interviewer plays that isn't on the president's iPod.
No mention of The Boss, Bruce Springsteen, who has been campaigning for Obama.
Or country music. Much of that vote tilts to the other guy.
This news article is brought to you by WOMEN'S BLOG - where latest news are our top priority.
Google unveils another phone, larger Nexus tablet
SAN FRANCISCO (AP) - Google is adding a few more gadgets to holiday shopping lists.
The devices announced Monday include the latest in Google's line of Nexus smartphones and a larger version of the 7-inch Nexus 7 tablet that the company began selling in July under the Nexus brand.
The Nexus 4 smartphone is being made by LG Electronics Inc. and features a minor update to Google's Android operating system, which now powers more than 500 million devices worldwide. A more comprehensive upgrade is expected next year.
The larger Nexus tablet is being made by Samsung Electronics Co. and features a display screen that measures 10 inches diagonally, about the same size as Apple Inc.'s top-selling iPad.
Google's introduction of a larger tablet comes less than a week after Apple announced it's making a smaller, less expensive iPad with a 7.9-inch display to compete against the Nexus 7 and Amazon.com Inc.'s Kindle Fire. The iPad Mini will be available in stores Friday.
Some analysts have questioned whether consumers will balk at the iPad Mini's $329 price for a device with 16 gigabytes of storage. Google is widening the price difference between the iPad Mini and its smaller tablet by lowering the price of a comparable Nexus 7 from $249 to $199. A Nexus 7 with 32 gigabytes of storage is being introduced for $249 in apparent effort to discourage even more people from buying the iPad Mini. It's still pricier than the Kindle Fire, which starts at $159 for a no-frills model.
The Nexus 7 tablets will continue to be sold at Google's Play store online as well as a list of other retailers that include GameStop, Office Depot, Office Max, Staples, Wal-Mart.
The Nexus 10 tablet with 16 gigabytes of storage will sell for $399. That's $100 less than the comparable version of the latest iPad, though the older iPad 2 is still available at that price. The Nexus goes on sale in Google's online store Nov. 13.
The Nexus 4 phone boasts a 4.7-inch screen, larger than Apple's recently released iPhone 5 and just slightly smaller than Samsung's flagship phone, the Galaxy S III. A 16-gigabyte model of the Nexus 4 will sell for $199 with a two-year contract to buy phone service and Internet access from T-Mobile. A contract-free version is available for $299 with 8 gigabytes of storage and $349 for the 16-gigabyte model.
Microsoft Corp. entered the tablet fray last week with the Surface, which runs on the newly released version of Windows. The operating system, called Windows 8, has been radically redesigned to appeal to people who want the utility of a personal computer coupled with the convenience of smaller mobile devices that rely on touch controls. More than 1,000 PCs and other devices are expected to run on Windows 8.
Microsoft had an event in San Francisco on Monday to launch its version of Windows 8 for smartphones. Google had hoped to upstage Microsoft's celebration by rolling out its latest gadgets at an event a few hours earlier in New York, but that got canceled because of Hurricane Sandy. The company, which is based in Mountain View, Calif., instead released details about the devices in a blog post.
Besides adding more hardware to its online store, Google is expanding its music library to include Warner Music Group's catalog. Warner had been the only holdout among the major music labels when Google began selling music a year ago to compete against Apple's iTunes stores. The company also said it will begin selling music in Europe beginning Nov. 13.
This news article is brought to you by GAMING NEWS - where latest news are our top priority.
The devices announced Monday include the latest in Google's line of Nexus smartphones and a larger version of the 7-inch Nexus 7 tablet that the company began selling in July under the Nexus brand.
The Nexus 4 smartphone is being made by LG Electronics Inc. and features a minor update to Google's Android operating system, which now powers more than 500 million devices worldwide. A more comprehensive upgrade is expected next year.
The larger Nexus tablet is being made by Samsung Electronics Co. and features a display screen that measures 10 inches diagonally, about the same size as Apple Inc.'s top-selling iPad.
Google's introduction of a larger tablet comes less than a week after Apple announced it's making a smaller, less expensive iPad with a 7.9-inch display to compete against the Nexus 7 and Amazon.com Inc.'s Kindle Fire. The iPad Mini will be available in stores Friday.
Some analysts have questioned whether consumers will balk at the iPad Mini's $329 price for a device with 16 gigabytes of storage. Google is widening the price difference between the iPad Mini and its smaller tablet by lowering the price of a comparable Nexus 7 from $249 to $199. A Nexus 7 with 32 gigabytes of storage is being introduced for $249 in apparent effort to discourage even more people from buying the iPad Mini. It's still pricier than the Kindle Fire, which starts at $159 for a no-frills model.
The Nexus 7 tablets will continue to be sold at Google's Play store online as well as a list of other retailers that include GameStop, Office Depot, Office Max, Staples, Wal-Mart.
The Nexus 10 tablet with 16 gigabytes of storage will sell for $399. That's $100 less than the comparable version of the latest iPad, though the older iPad 2 is still available at that price. The Nexus goes on sale in Google's online store Nov. 13.
The Nexus 4 phone boasts a 4.7-inch screen, larger than Apple's recently released iPhone 5 and just slightly smaller than Samsung's flagship phone, the Galaxy S III. A 16-gigabyte model of the Nexus 4 will sell for $199 with a two-year contract to buy phone service and Internet access from T-Mobile. A contract-free version is available for $299 with 8 gigabytes of storage and $349 for the 16-gigabyte model.
Microsoft Corp. entered the tablet fray last week with the Surface, which runs on the newly released version of Windows. The operating system, called Windows 8, has been radically redesigned to appeal to people who want the utility of a personal computer coupled with the convenience of smaller mobile devices that rely on touch controls. More than 1,000 PCs and other devices are expected to run on Windows 8.
Microsoft had an event in San Francisco on Monday to launch its version of Windows 8 for smartphones. Google had hoped to upstage Microsoft's celebration by rolling out its latest gadgets at an event a few hours earlier in New York, but that got canceled because of Hurricane Sandy. The company, which is based in Mountain View, Calif., instead released details about the devices in a blog post.
Besides adding more hardware to its online store, Google is expanding its music library to include Warner Music Group's catalog. Warner had been the only holdout among the major music labels when Google began selling music a year ago to compete against Apple's iTunes stores. The company also said it will begin selling music in Europe beginning Nov. 13.
This news article is brought to you by GAMING NEWS - where latest news are our top priority.
Apple Sells Out of All iPad Mini Models
Apple has sold out of its initial inventory of all iPad Mini models just three days after the new device became available for pre-order online.
[More from Mashable: Smug Apple Fans Secretly Lust After Microsoft Surface Tablets [SUNDAY COMICS]]
The shipping times for all three Wi-Fi versions of the black and white iPad Mini have now been pushed back to two weeks, indicating that the initial stock is sold out. The LTE-enabled iPad Mini models have not yet gone on sale.
Apple worried some investors with its decision to the price the new 7.9 inch tablets starting at $329, significantly more than competing tablets like the Nexus 7 and Kindle Fire, but the sales so far suggest that demand for the iPad Mini is strong even with the higher price.
[More from Mashable: Top Comments on Mashable This Week]
Have you ordered an iPad Mini? Let us know in the comments below.
Click here to view this gallery. This story originally published on Mashable here.
This news article is brought to you by ECONOMY BLOG - where latest news are our top priority.
[More from Mashable: Smug Apple Fans Secretly Lust After Microsoft Surface Tablets [SUNDAY COMICS]]
The shipping times for all three Wi-Fi versions of the black and white iPad Mini have now been pushed back to two weeks, indicating that the initial stock is sold out. The LTE-enabled iPad Mini models have not yet gone on sale.
Apple worried some investors with its decision to the price the new 7.9 inch tablets starting at $329, significantly more than competing tablets like the Nexus 7 and Kindle Fire, but the sales so far suggest that demand for the iPad Mini is strong even with the higher price.
[More from Mashable: Top Comments on Mashable This Week]
Have you ordered an iPad Mini? Let us know in the comments below.
Apple iPad Mini Hands-on
Click here to view this gallery. This story originally published on Mashable here.
This news article is brought to you by ECONOMY BLOG - where latest news are our top priority.
Sunday, October 28, 2012
Steve Jobs's Secret Yacht Looks Like a Giant iPhone
RELATED: Should You Buy an iPad 2?
Just over a year after Steve Jobs's death, shipbuilders in Aalsmeer, Holland have finally finished the yacht that the Apple visionary spent years designing -- stealthily, of course. Boy, does it look like an Apple product. Her name is Venus.
RELATED: A Guide to the Reactions and Tributes to Steve Jobs
Built entirely out of aluminum, the yacht was designed by Jobs personally along with some help from French designer Phillipe Stack. It's a big one, too. The ship measures between 70 and 80 meters, but because of the aluminum construction, it's lighter than your typical yacht, giving it a bit of an edge when it comes to speed. It doesn't lack amenities, either. The front of the ship is equipped with a uniquely large sun deck with a jacuzzi built in. Behind that comes an all glass cabin that's topped with a bridge equipped with seven 27-inch iMacs that handle the ship's navigation and controls. When you take a step back, squint a little and turn your head to the left, it sort of looks like an iPhone 4 with the strip of windows around the middle and the clean lines.
RELATED: The Motherlode of iPhone Rumors: Apple Will Release Two This Fall
Jobs's yacht project might seem a little out of character at first. After all, the billionaire was famously humble about many aspects of his lifestyle. He lived in a normal house on a normal suburban street in Palo Alto, California, not some massive mansion out in the mountains. He wore jeans, a black turtleneck sweater and New Balance tennis shoes, a basically thrifty choice for a man who could afford his own cashmere farm. He also drove a very nice car, but it wasn't rapper nice. That is, it wasn't a Bentley or an Aston Martin or a Maybach -- just a Mercedes. (Ok, now we're stretching the humble thing, but you get the point.)
RELATED: Listen to Steve Jobs Describe the iPad in 1983
We now know that Steve Jobs was not a stranger to the finer aspects of being filthy rich, luxuries like chrome-coated yachts and custom-built private jets. But hey, the guy wanted to retire one day, and so what if he wanted to live like a king after building the world's most valuable technology company. Walter Isaacson wrote about the yacht in his biography of Steve Jobs, who had evidently been working on the project alone for six years:
After our omelets at the café, we went back to his house and he showed me all of the models and architectural drawings. As expected, the planned yacht was sleek and minimalist. The teak decks were perfectly flat and unblemished by any accoutrements. As at an Apple store, the cabin windows were large panes, almost floor to ceiling, and the main living area was designed to have walls of glass that were forty feet long and ten feet high. He had gotten the chief engineer of the Apple stores to design a special glass that was able to provide structural support. By then the boat was under construction by the Dutch custom yacht builders Feadship, but Jobs was still fiddling with the design. "I know that it's possible I will die and leave Laurene with a half-built boat," he said. "But I have to keep going on it. If I don't, it's an admission that I'm about to die."Sadly, Jobs did die before the yacht was finished, but the folks at Feadship finished the job. Evidently, the Jobs family recently had a little christening party with the shipbuilders, who all got an iPod Shuffle with "Venus" engraved on the back as a token of thanks. Now that we said all that stuff about Jobs and conspicuous consumption, you'd think they could have at least splurged for the iPod Touch.
RELATED: Steve Jobs Resigns as Apple CEO, Staying on as Chairman
Check out the chrome plates on the stern. The sleek windows that wrap around the middle of the ship is where the Jobs family quarters are. The crew gets the little portholes underneath.
You can see the row of iMacs in the bridge.
End-to-end, it's a pretty impressive vessel.
This news article is brought to you by RELATIONSHIPS ADVICE - where latest news are our top priority.
Analysis: E-readers grapple with a future on the shelf
SINGAPORE (Reuters) - Amidst our growing love affair with the tablet, spare a thought for its increasingly shelfbound sibling: the e-reader.
Take Taiwan's E Ink Holdings Inc, which makes most of the monochrome displays for devices such as Amazon.com Inc's Kindle and Barnes & Noble Inc's Nook. After five years of heady growth during which shipments rose 100-fold, it got a jolt at the end of 2011 when monthly revenues dropped 91 percent in two months.
'The bottom fell out of the market,' says E Ink Chief Marketing Officer Sriram Peruvemba.
E-readers initially benefited from their reflective displays, which can be read in sunlight and require very little power. But the success of Apple Inc's iPad, improved backlit displays, power-saving technologies and new smaller tablets all point to one thing: the e-reader has become a transitional technology.
Think the harpsichord, replaced by the piano. Or Apple's iPod music player, which helped popularize the MP3 player until the arrival of the iPhone, which could play music but also do a lot of other things.
Now electronic paper companies like E Ink are scrabbling for new ways to sell the technology or in some cases, are pulling the plug entirely.
A recent survey by the Pew Research Center found that of those Americans over 30 who read e-books, less than half do so on an e-reader. For those under 30, the number falls to less than a quarter.
Analysts have cut forecasts, sometimes dramatically. IHS iSuppli predicted last December there would be 43 million e-readers shipped in 2014. When it revised those numbers last month, the estimate was lowered by two thirds.
By contrast, Morgan Stanley in June doubled its estimates for 2013 tablet shipments, predicting 216 million compared with its February 2011 forecast of 102 million.
'Frustratingly for the E Ink guys, it's a transition device,' says Robin Birtle, who runs an e-book publishing company in Japan. 'Kids won't need this.'
POLE POSITION
Companies giving up the ghost include Japanese tyre maker Bridgestone Corp which ended e-paper production this year after six years in the business, blaming falling prices and the rising popularity of tablets with LCD displays. Its partner Delta Electronics Inc also said it was pulling out.
Qualcomm Inc, which snapped up two startups and launched several devices including the Kyobo Reader in South Korea, told investors in July it would now focus on licensing its Mirasol display technology.
UK-based Plastic Logic said it had stopped making e-readers and was now looking to license its display technology for devices such as credit cards.
That leaves E Ink, which this year bought one of its few remaining competitors, SiPix Technology, in pole position.
Not all the news is bad. A new generation of e-readers with front lighting, which allows reading in the dark, is hitting the market. The Kindle Paperwhite sold out quickly and that device and the basic $69 Kindle e-reader are the No. 2 and No. 3 top selling products on Amazon, based on unit sales. Amazon also recently launched Kindles in two big new markets - India and Japan.
E Ink's revenues have picked up somewhat from late last year and Chief Executive Scott Liu is promising good numbers when the company announces quarterly results on Wednesday.
But E Ink is betting its future, not on consumers buying more e-readers, but elsewhere - including education, an area it sees as essential to growth.
It has started to focus on adding features for classrooms, such as a master device to control which pages students look at, preventing them from flipping ahead to, for example, an answers page. Amazon this month announced a push to get Kindles into U.S. schools, selling e-readers at bulk discount.
But it will be an uphill battle. For one thing, Apple has stolen a march in the United States, saying that 80 percent of the country's 'core curricula' is available in its digital bookstore. And while educational institutions are investing in e-books, they're not necessarily investing in e-reading hardware.
In Singapore, for example, one university library has dedicated 95 percent of its budget to e-books. But the country remains one of the few where the Kindle is not available, suggesting that those e-books are not being read on dedicated devices.
E Ink also hopes to see its technology in more devices than e-readers. Over the years E Ink displays have appeared in watches, on a Samsung cellphone keypad and on USB drives. One e-ink sign in Japan survived the 2011 earthquake and tsunami and was able to display emergency contact and route information long after other powered-displays fell dark.
Peruvemba travels the world to trade shows peddling an impressive array of prototypes he hopes to tempt manufacturers with, from a music stand with a built-in e-reader to a traffic light. Says CEO Liu: 'I've told our people that in five years non e-reader applications will be as big as the e-reader applications.'
This makes sense, analysts say. 'We have dialed back our take on them,' said Jonathan Melnick of Lux Research. 'But we still think the technology is going to have a future. It's just not going to be in e-readers.'
OUTFLANKED AND SLOW
But not all are so optimistic. Not only has E Ink been outflanked by the emergence of the tablet, it's also been slow to innovate.
Although the screens of the latest Kindles refresh faster than earlier models, critics say they still look a little old-fashioned alongside displays from Apple or Samsung Electronics Co Ltd.
'I don't see any significant improvements in the technology in the past few years,' says Calvin Shao of Fubon Securities.
E Ink's own history is not encouraging. It took a long time for e-ink to emerge: Xerox had dabbled in it since the 1970s but it was only in the late 1990s that physicist Joseph Jacobson thought of mixing a dark dye and particles of white titanium dioxide in microcapsules. Stimulated by an electrical charge- a process called electrophoresis - one or other would move to the top to form shapes.
Even then it took seven years and $150 million for the company he founded, E Ink, to create its first e-reader, and another two years to tease out production problems for its first customer Sony Corp.
And then it took Amazon's heft to persuade the public to adopt the e-reader by adding a compelling range of books, wireless connectivity and the promise of instant downloads.
E Ink says it is undeterred and intends to play a more central role in any new industry it finds a foothold in. 'For our new products we will no longer be a component player,' said CEO Liu.
Its chances of success are limited, says Alva Taylor, who uses E Ink as a case study for his classes at the Tuck School of Business at Dartmouth College. 'The success rate for companies with a technology searching for a solution is pretty low.'
(Additional reporting by Mayumi Negishi in Tokyo and Alistair Barr in San Francisco; Editing by Edwina Gibbs)
This article is brought to you by CHEAP COMPUTERS.
Take Taiwan's E Ink Holdings Inc, which makes most of the monochrome displays for devices such as Amazon.com Inc's Kindle and Barnes & Noble Inc's Nook. After five years of heady growth during which shipments rose 100-fold, it got a jolt at the end of 2011 when monthly revenues dropped 91 percent in two months.
'The bottom fell out of the market,' says E Ink Chief Marketing Officer Sriram Peruvemba.
E-readers initially benefited from their reflective displays, which can be read in sunlight and require very little power. But the success of Apple Inc's iPad, improved backlit displays, power-saving technologies and new smaller tablets all point to one thing: the e-reader has become a transitional technology.
Think the harpsichord, replaced by the piano. Or Apple's iPod music player, which helped popularize the MP3 player until the arrival of the iPhone, which could play music but also do a lot of other things.
Now electronic paper companies like E Ink are scrabbling for new ways to sell the technology or in some cases, are pulling the plug entirely.
A recent survey by the Pew Research Center found that of those Americans over 30 who read e-books, less than half do so on an e-reader. For those under 30, the number falls to less than a quarter.
Analysts have cut forecasts, sometimes dramatically. IHS iSuppli predicted last December there would be 43 million e-readers shipped in 2014. When it revised those numbers last month, the estimate was lowered by two thirds.
By contrast, Morgan Stanley in June doubled its estimates for 2013 tablet shipments, predicting 216 million compared with its February 2011 forecast of 102 million.
'Frustratingly for the E Ink guys, it's a transition device,' says Robin Birtle, who runs an e-book publishing company in Japan. 'Kids won't need this.'
POLE POSITION
Companies giving up the ghost include Japanese tyre maker Bridgestone Corp which ended e-paper production this year after six years in the business, blaming falling prices and the rising popularity of tablets with LCD displays. Its partner Delta Electronics Inc also said it was pulling out.
Qualcomm Inc, which snapped up two startups and launched several devices including the Kyobo Reader in South Korea, told investors in July it would now focus on licensing its Mirasol display technology.
UK-based Plastic Logic said it had stopped making e-readers and was now looking to license its display technology for devices such as credit cards.
That leaves E Ink, which this year bought one of its few remaining competitors, SiPix Technology, in pole position.
Not all the news is bad. A new generation of e-readers with front lighting, which allows reading in the dark, is hitting the market. The Kindle Paperwhite sold out quickly and that device and the basic $69 Kindle e-reader are the No. 2 and No. 3 top selling products on Amazon, based on unit sales. Amazon also recently launched Kindles in two big new markets - India and Japan.
E Ink's revenues have picked up somewhat from late last year and Chief Executive Scott Liu is promising good numbers when the company announces quarterly results on Wednesday.
But E Ink is betting its future, not on consumers buying more e-readers, but elsewhere - including education, an area it sees as essential to growth.
It has started to focus on adding features for classrooms, such as a master device to control which pages students look at, preventing them from flipping ahead to, for example, an answers page. Amazon this month announced a push to get Kindles into U.S. schools, selling e-readers at bulk discount.
But it will be an uphill battle. For one thing, Apple has stolen a march in the United States, saying that 80 percent of the country's 'core curricula' is available in its digital bookstore. And while educational institutions are investing in e-books, they're not necessarily investing in e-reading hardware.
In Singapore, for example, one university library has dedicated 95 percent of its budget to e-books. But the country remains one of the few where the Kindle is not available, suggesting that those e-books are not being read on dedicated devices.
E Ink also hopes to see its technology in more devices than e-readers. Over the years E Ink displays have appeared in watches, on a Samsung cellphone keypad and on USB drives. One e-ink sign in Japan survived the 2011 earthquake and tsunami and was able to display emergency contact and route information long after other powered-displays fell dark.
Peruvemba travels the world to trade shows peddling an impressive array of prototypes he hopes to tempt manufacturers with, from a music stand with a built-in e-reader to a traffic light. Says CEO Liu: 'I've told our people that in five years non e-reader applications will be as big as the e-reader applications.'
This makes sense, analysts say. 'We have dialed back our take on them,' said Jonathan Melnick of Lux Research. 'But we still think the technology is going to have a future. It's just not going to be in e-readers.'
OUTFLANKED AND SLOW
But not all are so optimistic. Not only has E Ink been outflanked by the emergence of the tablet, it's also been slow to innovate.
Although the screens of the latest Kindles refresh faster than earlier models, critics say they still look a little old-fashioned alongside displays from Apple or Samsung Electronics Co Ltd.
'I don't see any significant improvements in the technology in the past few years,' says Calvin Shao of Fubon Securities.
E Ink's own history is not encouraging. It took a long time for e-ink to emerge: Xerox had dabbled in it since the 1970s but it was only in the late 1990s that physicist Joseph Jacobson thought of mixing a dark dye and particles of white titanium dioxide in microcapsules. Stimulated by an electrical charge- a process called electrophoresis - one or other would move to the top to form shapes.
Even then it took seven years and $150 million for the company he founded, E Ink, to create its first e-reader, and another two years to tease out production problems for its first customer Sony Corp.
And then it took Amazon's heft to persuade the public to adopt the e-reader by adding a compelling range of books, wireless connectivity and the promise of instant downloads.
E Ink says it is undeterred and intends to play a more central role in any new industry it finds a foothold in. 'For our new products we will no longer be a component player,' said CEO Liu.
Its chances of success are limited, says Alva Taylor, who uses E Ink as a case study for his classes at the Tuck School of Business at Dartmouth College. 'The success rate for companies with a technology searching for a solution is pretty low.'
(Additional reporting by Mayumi Negishi in Tokyo and Alistair Barr in San Francisco; Editing by Edwina Gibbs)
This article is brought to you by CHEAP COMPUTERS.
Saturday, October 27, 2012
Top Comments on Mashable This Week
45% of iPad owners were not pleased with the release of the iPad 4 this week, and one of them was our own Christina Warren. Her editorial attracted support, disagreement and fascinating commentary from readers.
Click here to view this gallery.[More from Mashable: Stolen Ideas: Apple Didn't Build That [INFOGRAPHIC]]
Apple's big product launch dominated the news and your opinions at Mashable this week. The iPad mini's Tuesday arrival came with a few surprises. in addition to the mini tablet, Apple also launched a new generation of the iPad, a 13-inch Retina MacBook Pro and an ultra-slim iMac.
[More from Mashable: How to Get Windows 8 Now]
Apple wasn't the only company releasing new tech this week. Microsoft officially debuted Windows 8, its latest operating system, shortly after Apple's big announcement. The new OS will work with Microsoft's other hot new item, the Surface tablet. Mashable was on the scene at both events, and we had an engaging discussion with readers about the merits and drawbacks of this new technology; the conversation continued in the comments on our site.
As consumers said hello to new Apple and Microsoft products, they waved goodbye to the last presidential debate on Monday. Boca Raton signalled the beginning of the end of the Romney vs. Obama showdown. Although the campaigns will be ending, we'll always remember the binders, Big Birds and bayonets.
What do you think was the biggest moment in tech and social media news this week? Have you added any products to your holiday wish list after seeing Apple and Microsoft's new lineups?
We always want to hear your voice in our discussions, and we encourage you to get involved in the Mashable community by signing up for Mashable Follow. Please make sure you read our best practices for commenting. Next week, your input could be featured in the top comments!
Image courtesy of Flickr, jordesign
This story originally published on Mashable here.
This news article is brought to you by INTERNET NEWS - where latest news are our top priority.
Click here to view this gallery.[More from Mashable: Stolen Ideas: Apple Didn't Build That [INFOGRAPHIC]]
Apple's big product launch dominated the news and your opinions at Mashable this week. The iPad mini's Tuesday arrival came with a few surprises. in addition to the mini tablet, Apple also launched a new generation of the iPad, a 13-inch Retina MacBook Pro and an ultra-slim iMac.
[More from Mashable: How to Get Windows 8 Now]
Apple wasn't the only company releasing new tech this week. Microsoft officially debuted Windows 8, its latest operating system, shortly after Apple's big announcement. The new OS will work with Microsoft's other hot new item, the Surface tablet. Mashable was on the scene at both events, and we had an engaging discussion with readers about the merits and drawbacks of this new technology; the conversation continued in the comments on our site.
As consumers said hello to new Apple and Microsoft products, they waved goodbye to the last presidential debate on Monday. Boca Raton signalled the beginning of the end of the Romney vs. Obama showdown. Although the campaigns will be ending, we'll always remember the binders, Big Birds and bayonets.
What do you think was the biggest moment in tech and social media news this week? Have you added any products to your holiday wish list after seeing Apple and Microsoft's new lineups?
We always want to hear your voice in our discussions, and we encourage you to get involved in the Mashable community by signing up for Mashable Follow. Please make sure you read our best practices for commenting. Next week, your input could be featured in the top comments!
Image courtesy of Flickr, jordesign
This story originally published on Mashable here.
This news article is brought to you by INTERNET NEWS - where latest news are our top priority.
Friday, October 26, 2012
Surface tablet buzz starts, but Windows 8 excitement muted
SEATTLE (Reuters) - U.S. shoppers woke up with mild Surface fever on Friday, lining up in moderate numbers to buy Microsoft's groundbreaking tablet computer designed to challenge Apple's iPad.
The global debut of the Windows 8 operating system was greeted with pockets of enthusiasm, but not the mania reserved for some previous Apple Inc launches.
Microsoft is positioning the slick new computing device, which runs a limited version of Windows and Office with a thin, click-on keyboard cover, as a perfect combination of PC and tablet that is good for work as well as entertainment.
"I like the flexibility of having the keyboard and the touch capability," said Mike Gipe, 50, who works in sales for bank Barclays, and was planning to buy a Surface tablet at Microsoft's pop-up store in Times Square in New York.
"It's the combination of having the consumer stuff and the work stuff," he said, looking forward to using Excel spreadsheets and PowerPoint presentations on the new device.
The Times Square store was the first to sell the Surface -- Microsoft's first ever own-brand computer -- and other Windows 8 devices late on Thursday and will be open through the holiday shopping season. On Friday morning it was crowded with a mix of tourists and local office workers, but the cash tills were not jammed.
"With the other tablets you're a consumer. With this you can have input," said Peter Townsend, on vacation in New York from Australia with his wife, who bought a Surface tablet because he liked the keyboard.
Mark Pauluch, 28, who works for a New York private equity firm, said he would like a Surface because he does not want to take a laptop on a plane, but was disappointed when the sales representative told him the wifi-only Surface would not work with Cisco VPN networking.
"I can't use this to replace my work laptop unless it supports VPN," he said.
MIDWEST, WEST COAST
Elsewhere in the United States, there was solid but not overwhelming interest for the Surface.
"It's a good tablet. I am not a huge i-anything fan, I like Windows," said Matt Shanahan, a software developer who drove four hours to the tiny Michigan Avenue pop-up store in Chicago from Grand Rapids, Michigan to buy a Surface. "My friend and I are software developers and this gives us an opportunity to develop new apps," he said.
In a pop-up store at the San Francisco Centre mall about 50 people lined up to buy the new Surface.
"On an iPad you have to use half the screen for a keyboard, or buy an accessory. I love that the Surface is so integrated, that you can type and use Word and all my other programs," said Malte von Sehested, a textbook creator who bought a Surface.
"With the Surface you get a steeper learning curve -- I had to get someone to show me how to side-swipe, swipe out to get the menus for instance," he said. "It may take a week, before it all becomes natural. That could be a problem for Microsoft. My old dad, he would get hit by that steeper learning curve."
ANALYSTS PATIENT
Wall Street and tech industry experts failed to show great enthusiasm for Windows 8, but were prepared to give Microsoft time to succeed.
"Microsoft did not come out with Windows 8 thinking it will be an overnight success," said Daniel Ives, an analyst at FBR Capital Markets. "But there's hope that this could be the silver bullet of growth (for Microsoft) as well as giving the PC industry some optimism that there's better days ahead."
The next six to 12 months is a "crucial period" for Microsoft to get traction with consumers, added Ives.
Sarah Rotman Epps, an analyst at tech research firm Forrester, said consumers may be best served waiting for tablets running the full Windows 8 Pro and Intel Corp chips, which are due out early next year.
"Windows 8 has a lot of great features, but RT has a long way to go," she said, citing a lack of apps and poor video performance on the Surface.
"It's not really a PC. RT is too restricted. Some people will be happier with the full Windows 8," she said.
Microsoft shares were up 33 cents at $28.21 on Nasdaq on Friday. Apple shares were down slightly after disappointing earnings on Thursday.
(Reporting By Nivedita Bhattacharjee in Chicago, Sinead Carew and Nicola Leske in New York, Edwin Chan in San Francisco; Editing by Alden Bentley)
This article is brought to you by CHEAP COMPUTERS.
The global debut of the Windows 8 operating system was greeted with pockets of enthusiasm, but not the mania reserved for some previous Apple Inc launches.
Microsoft is positioning the slick new computing device, which runs a limited version of Windows and Office with a thin, click-on keyboard cover, as a perfect combination of PC and tablet that is good for work as well as entertainment.
"I like the flexibility of having the keyboard and the touch capability," said Mike Gipe, 50, who works in sales for bank Barclays, and was planning to buy a Surface tablet at Microsoft's pop-up store in Times Square in New York.
"It's the combination of having the consumer stuff and the work stuff," he said, looking forward to using Excel spreadsheets and PowerPoint presentations on the new device.
The Times Square store was the first to sell the Surface -- Microsoft's first ever own-brand computer -- and other Windows 8 devices late on Thursday and will be open through the holiday shopping season. On Friday morning it was crowded with a mix of tourists and local office workers, but the cash tills were not jammed.
"With the other tablets you're a consumer. With this you can have input," said Peter Townsend, on vacation in New York from Australia with his wife, who bought a Surface tablet because he liked the keyboard.
Mark Pauluch, 28, who works for a New York private equity firm, said he would like a Surface because he does not want to take a laptop on a plane, but was disappointed when the sales representative told him the wifi-only Surface would not work with Cisco VPN networking.
"I can't use this to replace my work laptop unless it supports VPN," he said.
MIDWEST, WEST COAST
Elsewhere in the United States, there was solid but not overwhelming interest for the Surface.
"It's a good tablet. I am not a huge i-anything fan, I like Windows," said Matt Shanahan, a software developer who drove four hours to the tiny Michigan Avenue pop-up store in Chicago from Grand Rapids, Michigan to buy a Surface. "My friend and I are software developers and this gives us an opportunity to develop new apps," he said.
In a pop-up store at the San Francisco Centre mall about 50 people lined up to buy the new Surface.
"On an iPad you have to use half the screen for a keyboard, or buy an accessory. I love that the Surface is so integrated, that you can type and use Word and all my other programs," said Malte von Sehested, a textbook creator who bought a Surface.
"With the Surface you get a steeper learning curve -- I had to get someone to show me how to side-swipe, swipe out to get the menus for instance," he said. "It may take a week, before it all becomes natural. That could be a problem for Microsoft. My old dad, he would get hit by that steeper learning curve."
ANALYSTS PATIENT
Wall Street and tech industry experts failed to show great enthusiasm for Windows 8, but were prepared to give Microsoft time to succeed.
"Microsoft did not come out with Windows 8 thinking it will be an overnight success," said Daniel Ives, an analyst at FBR Capital Markets. "But there's hope that this could be the silver bullet of growth (for Microsoft) as well as giving the PC industry some optimism that there's better days ahead."
The next six to 12 months is a "crucial period" for Microsoft to get traction with consumers, added Ives.
Sarah Rotman Epps, an analyst at tech research firm Forrester, said consumers may be best served waiting for tablets running the full Windows 8 Pro and Intel Corp chips, which are due out early next year.
"Windows 8 has a lot of great features, but RT has a long way to go," she said, citing a lack of apps and poor video performance on the Surface.
"It's not really a PC. RT is too restricted. Some people will be happier with the full Windows 8," she said.
Microsoft shares were up 33 cents at $28.21 on Nasdaq on Friday. Apple shares were down slightly after disappointing earnings on Thursday.
(Reporting By Nivedita Bhattacharjee in Chicago, Sinead Carew and Nicola Leske in New York, Edwin Chan in San Francisco; Editing by Alden Bentley)
This article is brought to you by CHEAP COMPUTERS.
Gadgets add complexity to brutal bank layoffs
LONDON (Reuters) - In the high-tech, gadget-addicted world of investment banking, layoffs are becoming more complex and brutal as firms try to stop sensitive data leaving with employees.
Sackings are usually swift, with bankers escorted out, a few belongings thrown into boxes and Blackberries and phones disabled the minute they get their marching orders.
But weeks of trawling through old emails and planning software lockdowns now precede and follow the job cuts that are happening in thousands, adding a new layer of indignity to the process.
'It used to be that you would take away any access to the building and maybe prevent someone from lifting their Rolodex,' said Stephen Bonner, a former Barclays executive now a partner in the information protection business at consultancy KPMG.
'Now there is extensive compliance, with for example reviews of the last six months of email activity, for signs of a large amount of material being sent to personal accounts.'
Companies have to make sure they can block access to work systems that employees may be using on their own computers, while occasionally calling in lawyers to ask fired staff to destroy data they may have already downloaded.
The crackdown has taken on new relevance after a series of banking scandals such as the rigging of Libor interest rates. Records of emails and voice mails underpinned a case by regulators against Barclays for manipulating Libor, which was settled in June.
Layoffs in banking have long been a particularly brutal affair, justified by firms because of the sensitive information handled by deal advisers and traders.
Anecdotes abound about the half-eaten sandwiches left behind by colleagues called to a meeting with their manager and human resources, never to return. Those allowed to collect their belongings often do so with a security escort.
More bankers are likely to get a taste of the dismissal procedures in the coming months as economic woes hurt revenue.
Deutsche Bank and Nomura <8604.T> have been among those shrinking headcount again recently, with layoffs at major players adding up to well over 130,000 since 2011.
PRACTICE RUN
With hundreds of bankers sometimes leaving on the same day in big redundancy rounds, the huge IT operations take meticulous planning, sometimes with unnerving consequences for staff.
One analyst laid off last year along with his team said their Blackberries stopped working for 15 minutes a week before they were unexpectedly laid off. In retrospect they believed it had been a practice run.
'That made us feel a bit sick,' the former analyst said, speaking on condition of anonymity.
But recurring incidents of data theft, and other breaches and scandals mean banks will likely only step up their checks.
'I've never yet run one investigation during a round of redundancies where we haven't found things that were concerning for the company,' Bonner at KPMG said.
A former Goldman Sachs computer programmer was recently charged with stealing a high-frequency trading code from the firm before leaving for a job at a start-up.
Systems sweeps can extend to looking for signs of downloads onto memory sticks in the months before an employee's departure.
Banks store valuable client data in relationship management systems for example, listing intimate details of their every transaction, which junior bankers could try to take with them.
While preventing these breaches is not always possible, banks will notify each other if they believe former employees have taken data they were not entitled to and collaborate between firms, Bonner said.
As in other industries, there is also the risk that a disgruntled, fired employee will return to his desk and send off angry company-wide emails -- but worse can happen too.
A computer programmer at U.S. mortgage association Fannie Mae was convicted in 2010 for planting a computer virus designed to destroy all the data on its servers the day he was fired.
WEDDED TO GADGETS
Most bankers do leave on good terms, however -- usually a condition to getting a generous redundancy payout.
But although many concede big packages are the trade-off for working in such a cut-throat world, the impersonal format of layoffs is still tough, and dependence on technology such as Blackberries has made things worse.
Being suddenly cut off from the systems so many are wedded to can exacerbate the feelings of worthlessness and bereavement people experience during redundancy, psychologists say.
'People are handed these gadgets and tools...and it becomes entrenched in their way of being,' said Michael Sinclair of the City Psychology Group. 'It's what they do at night times, and it's about 'who am I'.'
The lack of a human connection in banking redundancies can add to the problem, he said, as does the stigma attached to seeking counseling, which can be seen as a weakness.
But the large scale of redundancies at banks and their frequency, correlated to cycles of rising and falling markets, make it unlikely they will be handled any differently, despite efforts to give employees and managers more training to cope since the 2008 financial crisis.
'The only other way in is the more personal way, and I don't know how one could do that,' said Kirsty Tifft from The Career Psychologist, who previously worked in finance, including at Morgan Stanley and Merrill Lynch.
'Once you go down that route, you have to invest a lot of time. When hundreds of people leave on the same day, it's hard to see how that could be managed.'
(Editing by Anna Willard)
Sackings are usually swift, with bankers escorted out, a few belongings thrown into boxes and Blackberries and phones disabled the minute they get their marching orders.
But weeks of trawling through old emails and planning software lockdowns now precede and follow the job cuts that are happening in thousands, adding a new layer of indignity to the process.
'It used to be that you would take away any access to the building and maybe prevent someone from lifting their Rolodex,' said Stephen Bonner, a former Barclays executive now a partner in the information protection business at consultancy KPMG.
'Now there is extensive compliance, with for example reviews of the last six months of email activity, for signs of a large amount of material being sent to personal accounts.'
Companies have to make sure they can block access to work systems that employees may be using on their own computers, while occasionally calling in lawyers to ask fired staff to destroy data they may have already downloaded.
The crackdown has taken on new relevance after a series of banking scandals such as the rigging of Libor interest rates. Records of emails and voice mails underpinned a case by regulators against Barclays for manipulating Libor, which was settled in June.
Layoffs in banking have long been a particularly brutal affair, justified by firms because of the sensitive information handled by deal advisers and traders.
Anecdotes abound about the half-eaten sandwiches left behind by colleagues called to a meeting with their manager and human resources, never to return. Those allowed to collect their belongings often do so with a security escort.
More bankers are likely to get a taste of the dismissal procedures in the coming months as economic woes hurt revenue.
Deutsche Bank
PRACTICE RUN
With hundreds of bankers sometimes leaving on the same day in big redundancy rounds, the huge IT operations take meticulous planning, sometimes with unnerving consequences for staff.
One analyst laid off last year along with his team said their Blackberries stopped working for 15 minutes a week before they were unexpectedly laid off. In retrospect they believed it had been a practice run.
'That made us feel a bit sick,' the former analyst said, speaking on condition of anonymity.
But recurring incidents of data theft, and other breaches and scandals mean banks will likely only step up their checks.
'I've never yet run one investigation during a round of redundancies where we haven't found things that were concerning for the company,' Bonner at KPMG said.
A former Goldman Sachs
Systems sweeps can extend to looking for signs of downloads onto memory sticks in the months before an employee's departure.
Banks store valuable client data in relationship management systems for example, listing intimate details of their every transaction, which junior bankers could try to take with them.
While preventing these breaches is not always possible, banks will notify each other if they believe former employees have taken data they were not entitled to and collaborate between firms, Bonner said.
As in other industries, there is also the risk that a disgruntled, fired employee will return to his desk and send off angry company-wide emails -- but worse can happen too.
A computer programmer at U.S. mortgage association Fannie Mae was convicted in 2010 for planting a computer virus designed to destroy all the data on its servers the day he was fired.
WEDDED TO GADGETS
Most bankers do leave on good terms, however -- usually a condition to getting a generous redundancy payout.
But although many concede big packages are the trade-off for working in such a cut-throat world, the impersonal format of layoffs is still tough, and dependence on technology such as Blackberries has made things worse.
Being suddenly cut off from the systems so many are wedded to can exacerbate the feelings of worthlessness and bereavement people experience during redundancy, psychologists say.
'People are handed these gadgets and tools...and it becomes entrenched in their way of being,' said Michael Sinclair of the City Psychology Group. 'It's what they do at night times, and it's about 'who am I'.'
The lack of a human connection in banking redundancies can add to the problem, he said, as does the stigma attached to seeking counseling, which can be seen as a weakness.
But the large scale of redundancies at banks and their frequency, correlated to cycles of rising and falling markets, make it unlikely they will be handled any differently, despite efforts to give employees and managers more training to cope since the 2008 financial crisis.
'The only other way in is the more personal way, and I don't know how one could do that,' said Kirsty Tifft from The Career Psychologist, who previously worked in finance, including at Morgan Stanley and Merrill Lynch.
'Once you go down that route, you have to invest a lot of time. When hundreds of people leave on the same day, it's hard to see how that could be managed.'
(Editing by Anna Willard)
Apple's Apology to Samsung Is More of a Diss than an Apology
Apple isn't taking its loss to Samsung in U.K. court like an adult, using its enforced apology as another place to mock its gadget-making rival. The iPhone maker did its due diligence, posting a sorry-note on the Internet in 14 pt Arial Font, as instructed. But after writing the requisite "Galaxy Tab 10.1, Tab 8.9 and Tab 7.7 do not infringe Apple’s registered design No. 0000181607-0001," the rest of it reads as if Apple doesn't really think that's true. The thing reaks of sore loser. In the next two graph's Apple quotes the U.K. judge's decision, which outlined the beauty of Apple's design, calling it too cool to be mistaken for a Galaxy. "They do not have the same understated and extreme simplicity which is possessed by the Apple design. They are not as cool." An obvious diss to Samsung, which only won on a hip-factor technicality. After that, the post ends with the iMaker noting that other judges found Samsung at fault, so, really, Samsung's still a copy-cat.
This news article is brought to you by SHOCKING DATING ADVICE - where latest news are our top priority.
However, in a case tried in Germany regarding the same patent, the court found that Samsung engaged in unfair competition by copying the iPad design. A U.S. jury also found Samsung guilty of infringing on Apple's design and utility patents, awarding over one billion U.S. dollars in damages to Apple Inc. So while the U.K. court did not find Samsung guilty of infringement, other courts have recognized that in the course of creating its Galaxy tablet, Samsung willfully copied Apple's far more popular iPad.And that's how Apple turned its punishment lemons into sweet mockery flavored lemonade.
This news article is brought to you by SHOCKING DATING ADVICE - where latest news are our top priority.
Sock futures fall after Apple, Amazon results; GDP eyed
NEW YORK (Reuters) - Stock index futures fell on Friday after technology giants Apple and Amazon.com reported lackluster earnings and outlooks, and ahead of economic growth data.
* Apple Inc shed 0.1 percent to $608.99 in premarket trading after the world's largest company by market capitalization delivered a second straight quarter of disappointing results and iPad sales fell well short of analysts' targets. The company also forecast revenue and margins below Wall Street forecasts.
* Amazon.com Inc dropped 1.6 percent to $219.47 in premarket trading after posting its first quarterly net loss in more than five years. It forecast fourth-quarter revenue that fell short of analysts' expectations.
* Investors will eye the Commerce Department's first estimate of third-quarter gross domestic product at 8:30 a.m. EDT (1230 GMT).
* Analysts polled by Reuters earlier this week expect growth of 1.9 percent, faster than 1.3 percent growth in the second quarter, but not brisk enough to quickly bring down the unemployment rate. Some economists scaled back their forecasts on Thursday after signs of weakness in durable goods orders in September.
* The S&P 500 has dropped 1.4 percent this week as dismal corporate earnings and cautious outlooks, especially from large multinationals, have painted a gloomy picture of the global economy.
* Adding to uncertainty is the impending U.S. presidential election on November 6, which, along with earnings and growth worries, has helped drop the benchmark S&P index to below a key support level, the 50-day moving average, at around 1,434.
* Still, many analysts expect the retreat to wane near 1,400 or 1,375, as the Federal Reserve's latest stimulus policy puts a floor under equity prices.
* With 244 companies in the S&P 500 having reported, 62.3 percent have beaten earnings expectations, a tad better than the typical 62 percent average, Thomson Reuters data showed.
* Revenue for the quarter has been more disappointing, with just 36.3 percent of companies reporting higher-than-expected revenue - compared with a historic beat rate of 62 percent.
* S&P 500 futures fell 11.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 106 points, and Nasdaq 100 futures declined 17 points.
* Economic data expected later in the session includes the Thomson Reuters/University of Michigan Surveys of Consumers final October consumer sentiment index at 9:55 a.m. (1355 GMT). Economists in a Reuters survey expect a reading of 83.0 compared with 83.1 in the preliminary October report.
* Dean Foods Co's gained 1.7 percent to $19.11 in light premarket trade as its Morningstar business has attracted takeover interest from Michael Foods and Mexican dairy company Grupo Lala, people familiar with the matter said, in a deal that could be valued in the $1 billion to $1.5 billion range.
* Newell Rubbermaid Inc reported a higher-than-expected quarterly profit and raised its quarterly dividend by 50 percent to 15 cents a share but also said it would cut about 2,000 jobs over the next 2 1/2 years as it attempts to combat slower sales.
* European equity markets eased, weighed down by a fresh batch of gloomy corporate outlooks, as the euro zone crisis put a dent in demand for everything from cars to building materials. <.EU>
* Asian shares and commodities slid as investors shunned risk on concerns over corporate earnings, with the region's exporters struggling against shrinking global demand.
(Editing by Bernadette Baum)
This news article is brought to you by MOVIE CRITIC NEWS - where latest news are our top priority.
* Apple Inc
* Amazon.com Inc
* Investors will eye the Commerce Department's first estimate of third-quarter gross domestic product at 8:30 a.m. EDT (1230 GMT).
* Analysts polled by Reuters earlier this week expect growth of 1.9 percent, faster than 1.3 percent growth in the second quarter, but not brisk enough to quickly bring down the unemployment rate. Some economists scaled back their forecasts on Thursday after signs of weakness in durable goods orders in September.
* The S&P 500 has dropped 1.4 percent this week as dismal corporate earnings and cautious outlooks, especially from large multinationals, have painted a gloomy picture of the global economy.
* Adding to uncertainty is the impending U.S. presidential election on November 6, which, along with earnings and growth worries, has helped drop the benchmark S&P index to below a key support level, the 50-day moving average, at around 1,434.
* Still, many analysts expect the retreat to wane near 1,400 or 1,375, as the Federal Reserve's latest stimulus policy puts a floor under equity prices.
* With 244 companies in the S&P 500 having reported, 62.3 percent have beaten earnings expectations, a tad better than the typical 62 percent average, Thomson Reuters data showed.
* Revenue for the quarter has been more disappointing, with just 36.3 percent of companies reporting higher-than-expected revenue - compared with a historic beat rate of 62 percent.
* S&P 500 futures fell 11.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 106 points, and Nasdaq 100 futures declined 17 points.
* Economic data expected later in the session includes the Thomson Reuters/University of Michigan Surveys of Consumers final October consumer sentiment index at 9:55 a.m. (1355 GMT). Economists in a Reuters survey expect a reading of 83.0 compared with 83.1 in the preliminary October report.
* Dean Foods Co's
* Newell Rubbermaid Inc
* European equity markets eased, weighed down by a fresh batch of gloomy corporate outlooks, as the euro zone crisis put a dent in demand for everything from cars to building materials. <.EU>
* Asian shares and commodities slid as investors shunned risk on concerns over corporate earnings, with the region's exporters struggling against shrinking global demand.
(Editing by Bernadette Baum)
This news article is brought to you by MOVIE CRITIC NEWS - where latest news are our top priority.
Thursday, October 25, 2012
Apple iPad sales disappoint, Street eyes the holidays
SAN FRANCISCO (Reuters) - Apple Inc delivered a second straight quarter of disappointing results and iPad sales fell well short of Wall Street's targets, marring its record of consistently blowing past investors' expectations.
Shares in the world's most valuable technology company briefly dipped to levels not seen since the start of August, after it delivered a 27 percent rise in revenue for its fourth quarter while earnings rose 24 percent.
The numbers, while in line with expectations, lacked the positive surprises that investors had grown used to and came after Apple undershot revenue targets in the previous quarter. Its shares bounced back, however, after CEO Tim Cook told analysts on a conference call that the latest iPhone 5 was heavily backlogged but the company had mostly worked out kinks in its iPhone supply chain.
Apple shipped 26.9 million iPhones in the last quarter, somewhat higher than the 25 million to 26 million that Wall Street analysts had predicted. But sales of the iPad came in at 14 million, well below lowered forecasts for the tablet as the economy remained weak and consumers awaited the iPad mini, which will hit store shelves next month.
Analysts say the real test for the company will come during the crucial holiday shopping season, when competition will reach fever-pitch with Apple, Amazon.com Inc, Google Inc and Microsoft Corp all fielding new gadgets.
'Going into earnings we were wondering if the slowing economy will catch up with Wall Street and it has,' said Channing Smith, co-manager of the Capital Advisors Growth Fund.
'Apple is very well-positioned with the iPad and now the iPad mini. It has a great smartphone and we expect the iPhone 5 to sell very well. The outlook is conservative but that's not surprising. Err on the side of caution is a proven formula.'
Just hours after Apple's results, its main smartphone rival Samsung Electronics Co reported a near doubling in quarterly earnings, and while it did not detail smartphone shipments, they are estimated to have surged to 58 million.
Apple heads into the current quarter after refreshing almost all of its product lines, including introducing an upgraded, fourth-generation full-sized iPad. The December quarter will show how well consumers respond to Apple's latest gamble - the iPad mini that will go on sale on November 2.
CAR THAT FLIES AND FLOATS
For the December quarter, Apple forecast revenue of $52 billion, below the average estimate of $55 billion, according to Thomson Reuters I/B/E/S. It is expecting margins to come in at 36 percent, far lower than analysts' expected 43 percent.
Apple Chief Financial Officer Peter Oppenheimer mostly attributed the lower margin and conservative guidance to a combination of a stronger dollar, higher costs associated with new products, and the fact that Apple's next fiscal quarter has one less week than the same period a year ago.
Apple's stock was holding steady at $609.40 in extended trade after flirting with the $600 level. The shares had ended regular trade at $609.54.
Supply constraints holding up sales of the iPad and iPhone dominated discussions between analysts and Apple executives during the post-results conference call. Apple had struggled to deliver large quantities of the iPhone 5 since its launch in late September, with the waitlist for the device at one point stretching to three weeks in some regions.
'Our supply output is significantly higher than it was earlier in October,' Cook said, referring to the iPhone 5. 'And I'm confident that we'll be able to supply quite a few during the quarter.'
Cook also opined on Microsoft's new Windows 8-based Surface tablet that will hit stores in the wee hours of Friday.
'I haven't personally played with the Surface yet, but what we're reading about it, is that it's a fairly compromised, confusing product,' he said. 'I suppose you could design a car that flies and floats, but I don't think it would do all of those things very well.'
Despite the lackluster fourth quarter, Apple put up big numbers for the year. It ended its fiscal 2012 with a 45 percent increase in revenue to $156.5 billion, while net income was up 61 percent at $41.7 billion.
For the final fiscal quarter, it posted net income of $8.2 billion or $8.67 a diluted share in the fiscal fourth quarter on revenue of $35.96 billion, versus $6.6 billion or $7.05 a share a year earlier. Analysts had expected on average that Apple would earn $8.75 per share.
Apple ended the quarter with $121.3 billion in cash and securities, of which $83 billion was offshore.
(Reporting by Poornima Gupta; Editing by Richard Chang and Edmund Klamann)
This news article is brought to you by WOMEN'S BLOG - where latest news are our top priority.
Shares in the world's most valuable technology company briefly dipped to levels not seen since the start of August, after it delivered a 27 percent rise in revenue for its fourth quarter while earnings rose 24 percent.
The numbers, while in line with expectations, lacked the positive surprises that investors had grown used to and came after Apple undershot revenue targets in the previous quarter. Its shares bounced back, however, after CEO Tim Cook told analysts on a conference call that the latest iPhone 5 was heavily backlogged but the company had mostly worked out kinks in its iPhone supply chain.
Apple shipped 26.9 million iPhones in the last quarter, somewhat higher than the 25 million to 26 million that Wall Street analysts had predicted. But sales of the iPad came in at 14 million, well below lowered forecasts for the tablet as the economy remained weak and consumers awaited the iPad mini, which will hit store shelves next month.
Analysts say the real test for the company will come during the crucial holiday shopping season, when competition will reach fever-pitch with Apple, Amazon.com Inc, Google Inc and Microsoft Corp all fielding new gadgets.
'Going into earnings we were wondering if the slowing economy will catch up with Wall Street and it has,' said Channing Smith, co-manager of the Capital Advisors Growth Fund.
'Apple is very well-positioned with the iPad and now the iPad mini. It has a great smartphone and we expect the iPhone 5 to sell very well. The outlook is conservative but that's not surprising. Err on the side of caution is a proven formula.'
Just hours after Apple's results, its main smartphone rival Samsung Electronics Co reported a near doubling in quarterly earnings, and while it did not detail smartphone shipments, they are estimated to have surged to 58 million.
Apple heads into the current quarter after refreshing almost all of its product lines, including introducing an upgraded, fourth-generation full-sized iPad. The December quarter will show how well consumers respond to Apple's latest gamble - the iPad mini that will go on sale on November 2.
CAR THAT FLIES AND FLOATS
For the December quarter, Apple forecast revenue of $52 billion, below the average estimate of $55 billion, according to Thomson Reuters I/B/E/S. It is expecting margins to come in at 36 percent, far lower than analysts' expected 43 percent.
Apple Chief Financial Officer Peter Oppenheimer mostly attributed the lower margin and conservative guidance to a combination of a stronger dollar, higher costs associated with new products, and the fact that Apple's next fiscal quarter has one less week than the same period a year ago.
Apple's stock was holding steady at $609.40 in extended trade after flirting with the $600 level. The shares had ended regular trade at $609.54.
Supply constraints holding up sales of the iPad and iPhone dominated discussions between analysts and Apple executives during the post-results conference call. Apple had struggled to deliver large quantities of the iPhone 5 since its launch in late September, with the waitlist for the device at one point stretching to three weeks in some regions.
'Our supply output is significantly higher than it was earlier in October,' Cook said, referring to the iPhone 5. 'And I'm confident that we'll be able to supply quite a few during the quarter.'
Cook also opined on Microsoft's new Windows 8-based Surface tablet that will hit stores in the wee hours of Friday.
'I haven't personally played with the Surface yet, but what we're reading about it, is that it's a fairly compromised, confusing product,' he said. 'I suppose you could design a car that flies and floats, but I don't think it would do all of those things very well.'
Despite the lackluster fourth quarter, Apple put up big numbers for the year. It ended its fiscal 2012 with a 45 percent increase in revenue to $156.5 billion, while net income was up 61 percent at $41.7 billion.
For the final fiscal quarter, it posted net income of $8.2 billion or $8.67 a diluted share in the fiscal fourth quarter on revenue of $35.96 billion, versus $6.6 billion or $7.05 a share a year earlier. Analysts had expected on average that Apple would earn $8.75 per share.
Apple ended the quarter with $121.3 billion in cash and securities, of which $83 billion was offshore.
(Reporting by Poornima Gupta; Editing by Richard Chang and Edmund Klamann)
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Apple warns of holiday earnings drop
NEW YORK (AP) - Apple has a new iPhone, two new iPads and three new PCs as it heads into the holiday quarter, the biggest selling season of the year. But, paradoxically, it expects these new gadgets to bring down its profits compared to last year.
The reason: the new gadgets are expensive to make, Apple executives said Thursday, and the company is not interested in cutting corners for the sake of short-term returns.
On top of the holiday-quarter warning, the company reported earnings for its just-ended quarter that missed Wall Street's expectations for the second quarter in a row - something that hasn't happened in more than a decade.
In part, the issues facing Apple are a normal consequence of having so many new products, said Chief Financial Officer Peter Oppenheimer. When a production line is new, it costs more to run and the components are more expensive.
'The difference this time is the sheer number of products we're introducing at a short time,' Oppenheimer told analysts on a call Thursday.
But Oppenheimer also singled out the iPad Mini, the new, smaller version of the iPad the company unveiled Tuesday. It starts at $329, well above the $199 competitors charge for similar products. Apple's price is 'aggressive,' with a margin well below its other products, Oppenheimer said.
'When we set out to build the iPad Mini, we didn't set out to build a small, cheap tablet, we set out to build a smaller iPad that offered the full iPad experience' Oppenheimer said.
Apple expects a gross profit margin of 36 percent in the current quarter, the lowest figure in at least four years. In the holiday quarter last year, its gross margin was 44.7 percent.
The gross margin represents what Apple gets from selling its products, minus the cost of making them. It ignores the cost of research and development, marketing and corporate overhead.
On the same call, CEO Tim Cook justified the projected profit drop to Wall Street in similar terms.
'We're unwilling to cut corners in delivering the best product experience in the world,' he said. 'We're managing the company for the long run.'
Apple launched the iPhone 5 a month ago. This week, it unveiled the iPad Mini and an upgraded full-size iPad, plus a new MacBook laptop and two desktop Macs.
Apple said it expects earnings of $11.75 per share in the holiday quarter, below the $13.87 per share it earned in the same period last year. Apple routinely lowballs its estimates, but this time the forecast was further from the analyst estimate than usual. Analysts polled by FactSet were expecting earnings of $15.59, on average.
Apple expects sales of $52 billion, roughly in line with the analyst expectation of $56 billion, considering the company's conservative forecasts.
Apple shares fell $6.33, or 1 percent, to $603.47, extending a downward trend for the stock, which hit an all-time high of $705.07 a month ago, on the day the iPhone 5 went on sale in the U.S. and eight countries.
Apple reported its results as Microsoft Corp. was set to launch Windows 8 on Friday, along with its first tablet computer, the Surface. Cook said that while he had not used the Surface himself, he gathered from reviews that it was a 'fairly compromised, confusing product' that tries to do too many things. Part of Microsoft's message is that the Surface will double as a laptop. It's including a full version of its Office suite on the product and will be selling covers that act as keyboards.
'I suppose you could design a car that flies and floats, but I don't think it would do all of those things very well,' Cook said.
A slowdown in the growth of iPad sales was a major contributor to earnings miss for the latest quarter. It wasn't completely unexpected, as the rumor mill correctly predicted that Apple would launch the iPad Mini. Cook said there's usually a slowdown in the September-ending quarter, and the 14 million iPads sold exceeded Apple's forecast. Analysts, however, had been expecting 17 million to 18 million.
Sales were also hurt by slowing growth in China, after some blockbuster years. Apple's sales in China more than doubled in fiscal 2010 and 2011, but in the latest quarter, the Asia-Pacific segment grew just 15 percent, year over year. Growth in the July-September quarter was also slow in economically troubled Europe.
Net income in the fiscal fourth quarter was $8.2 billion, or $8.67 per share. That was up 24 percent from $6.6 billion, or $7.05 per share, a year ago.
Analysts polled by FactSet were expecting earnings of $8.84 per share.
Revenue was $36 billion, up 27 percent from a year ago. Analysts were expecting $35.8 billion.
The Cupertino, Calif., company sold 26.9 million iPhones in the quarter, at the high end of expectations. The launch of iPhone 5 came late in the quarter and didn't move the needle much.
For the full fiscal year, Apple's net income was $41.7 billion, or $27.68 per share. That was up 61 percent from the year before. Revenue was $156.5 billion, up 46 percent.
This article is brought to you by BUY A USED COMPUTER.
The reason: the new gadgets are expensive to make, Apple executives said Thursday, and the company is not interested in cutting corners for the sake of short-term returns.
On top of the holiday-quarter warning, the company reported earnings for its just-ended quarter that missed Wall Street's expectations for the second quarter in a row - something that hasn't happened in more than a decade.
In part, the issues facing Apple are a normal consequence of having so many new products, said Chief Financial Officer Peter Oppenheimer. When a production line is new, it costs more to run and the components are more expensive.
'The difference this time is the sheer number of products we're introducing at a short time,' Oppenheimer told analysts on a call Thursday.
But Oppenheimer also singled out the iPad Mini, the new, smaller version of the iPad the company unveiled Tuesday. It starts at $329, well above the $199 competitors charge for similar products. Apple's price is 'aggressive,' with a margin well below its other products, Oppenheimer said.
'When we set out to build the iPad Mini, we didn't set out to build a small, cheap tablet, we set out to build a smaller iPad that offered the full iPad experience' Oppenheimer said.
Apple expects a gross profit margin of 36 percent in the current quarter, the lowest figure in at least four years. In the holiday quarter last year, its gross margin was 44.7 percent.
The gross margin represents what Apple gets from selling its products, minus the cost of making them. It ignores the cost of research and development, marketing and corporate overhead.
On the same call, CEO Tim Cook justified the projected profit drop to Wall Street in similar terms.
'We're unwilling to cut corners in delivering the best product experience in the world,' he said. 'We're managing the company for the long run.'
Apple launched the iPhone 5 a month ago. This week, it unveiled the iPad Mini and an upgraded full-size iPad, plus a new MacBook laptop and two desktop Macs.
Apple said it expects earnings of $11.75 per share in the holiday quarter, below the $13.87 per share it earned in the same period last year. Apple routinely lowballs its estimates, but this time the forecast was further from the analyst estimate than usual. Analysts polled by FactSet were expecting earnings of $15.59, on average.
Apple expects sales of $52 billion, roughly in line with the analyst expectation of $56 billion, considering the company's conservative forecasts.
Apple shares fell $6.33, or 1 percent, to $603.47, extending a downward trend for the stock, which hit an all-time high of $705.07 a month ago, on the day the iPhone 5 went on sale in the U.S. and eight countries.
Apple reported its results as Microsoft Corp. was set to launch Windows 8 on Friday, along with its first tablet computer, the Surface. Cook said that while he had not used the Surface himself, he gathered from reviews that it was a 'fairly compromised, confusing product' that tries to do too many things. Part of Microsoft's message is that the Surface will double as a laptop. It's including a full version of its Office suite on the product and will be selling covers that act as keyboards.
'I suppose you could design a car that flies and floats, but I don't think it would do all of those things very well,' Cook said.
A slowdown in the growth of iPad sales was a major contributor to earnings miss for the latest quarter. It wasn't completely unexpected, as the rumor mill correctly predicted that Apple would launch the iPad Mini. Cook said there's usually a slowdown in the September-ending quarter, and the 14 million iPads sold exceeded Apple's forecast. Analysts, however, had been expecting 17 million to 18 million.
Sales were also hurt by slowing growth in China, after some blockbuster years. Apple's sales in China more than doubled in fiscal 2010 and 2011, but in the latest quarter, the Asia-Pacific segment grew just 15 percent, year over year. Growth in the July-September quarter was also slow in economically troubled Europe.
Net income in the fiscal fourth quarter was $8.2 billion, or $8.67 per share. That was up 24 percent from $6.6 billion, or $7.05 per share, a year ago.
Analysts polled by FactSet were expecting earnings of $8.84 per share.
Revenue was $36 billion, up 27 percent from a year ago. Analysts were expecting $35.8 billion.
The Cupertino, Calif., company sold 26.9 million iPhones in the quarter, at the high end of expectations. The launch of iPhone 5 came late in the quarter and didn't move the needle much.
For the full fiscal year, Apple's net income was $41.7 billion, or $27.68 per share. That was up 61 percent from the year before. Revenue was $156.5 billion, up 46 percent.
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Apple iPad sales disappoint, Street eyes holiday quarter
SAN FRANCISCO (Reuters) - Apple Inc delivered another quarter of lackluster results and iPad sales fell well short of Wall Street targets, pushing its stock down more than 1 percent.
The world's most valuable technology company, whose share price flirted after hours with sub-$600 levels for the first time since August, delivered results largely in line with expectations. It had missed revenue forecasts a quarter ago.
Apple sold fewer iPads than anticipated as the economy remained weak and consumers waited for the new iPad mini, which will hit store shelves next month.
Analysts say the real test for the company will come during the crucial holiday shopping season, when competition will reach fever-pitch with Apple, Amazon.com Inc, Google Inc and Microsoft Corp all fielding new gadgets.
'Going into earnings we were wondering if the slowing economy will catch up with Wall Street and it has,' said Channing Smith, co-manager of the Capital Advisors Growth Fund.
'Apple is very well positioned with the iPad and now the iPad mini. It has a great smartphone and we expect the iPhone 5 to sell very well. The outlook is conservative but that's not surprising. Err on the side of caution is a proven formula.'
Apple shipped 26.9 million iPhones, somewhat higher than the 25 million to 26 million that Wall Street analysts had predicted. Sales of the iPad came in at 14 million in the fiscal fourth quarter, well below lowered forecasts for the tablet.
It had just nine selling days of the new iPhone 5 in its fiscal fourth quarter - meaning all eyes are now trained on the current holiday quarter.
Apple ended its fiscal 2012 with a 45 percent increase in revenue to $156.5 billion, while net income was up 61 percent.
For the final fiscal quarter, it posted net income of $8.2 billion or $8.67 a diluted share in the fiscal fourth quarter, versus $6.6 billion or $7.05 a share a year earlier. Its earnings beat analysts' average forecast for $8.75.
Fiscal fourth quarter revenue rose to $35.96 billion, roughly in line with the average analyst estimate of 35.8 billion, according to Thomson Reuters I/B/E/S.
'Despite what you are reading about Europe, we did far better than our competitors,' Apple Chief Financial Officer Peter Oppenheimer said in an interview.
Apple heads into the quarter after refreshing almost all of its product lines, including introducing an upgraded, fourth-generation full-sized iPad. The December quarter will show how well consumers respond to Apple's latest gamble - the new, smaller iPad mini that will goes on sale November 2.
Sterne Agee's Shaw Wu attributed some of the quarter's weak iPad sales to Apple holding back supply of the third-generation iPad to stores, to clear the shelves ahead of the latest iPad.
'We were happy with the 14 million iPad sales in the quarter. It exceeded our expectations,' Oppenheimer said. 'But as the summer went on, the rumors were pretty rampant about the iPhone and iPad.'
For the December quarter, Apple forecast revenue of $52 billion, below the average estimate of $55 billion, according to Thomson Reuters I/B/E/S.
Apple ended the quarter with $121.3 billion in cash and securities, of which $83 billion was offshore, Oppenheimer said.
(Reporting by Poornima Gupta; Editing by Richard Chang)
This article is brought to you by CHEAP COMPUTERS.
The world's most valuable technology company, whose share price flirted after hours with sub-$600 levels for the first time since August, delivered results largely in line with expectations. It had missed revenue forecasts a quarter ago.
Apple sold fewer iPads than anticipated as the economy remained weak and consumers waited for the new iPad mini, which will hit store shelves next month.
Analysts say the real test for the company will come during the crucial holiday shopping season, when competition will reach fever-pitch with Apple, Amazon.com Inc, Google Inc and Microsoft Corp all fielding new gadgets.
'Going into earnings we were wondering if the slowing economy will catch up with Wall Street and it has,' said Channing Smith, co-manager of the Capital Advisors Growth Fund.
'Apple is very well positioned with the iPad and now the iPad mini. It has a great smartphone and we expect the iPhone 5 to sell very well. The outlook is conservative but that's not surprising. Err on the side of caution is a proven formula.'
Apple shipped 26.9 million iPhones, somewhat higher than the 25 million to 26 million that Wall Street analysts had predicted. Sales of the iPad came in at 14 million in the fiscal fourth quarter, well below lowered forecasts for the tablet.
It had just nine selling days of the new iPhone 5 in its fiscal fourth quarter - meaning all eyes are now trained on the current holiday quarter.
Apple ended its fiscal 2012 with a 45 percent increase in revenue to $156.5 billion, while net income was up 61 percent.
For the final fiscal quarter, it posted net income of $8.2 billion or $8.67 a diluted share in the fiscal fourth quarter, versus $6.6 billion or $7.05 a share a year earlier. Its earnings beat analysts' average forecast for $8.75.
Fiscal fourth quarter revenue rose to $35.96 billion, roughly in line with the average analyst estimate of 35.8 billion, according to Thomson Reuters I/B/E/S.
'Despite what you are reading about Europe, we did far better than our competitors,' Apple Chief Financial Officer Peter Oppenheimer said in an interview.
Apple heads into the quarter after refreshing almost all of its product lines, including introducing an upgraded, fourth-generation full-sized iPad. The December quarter will show how well consumers respond to Apple's latest gamble - the new, smaller iPad mini that will goes on sale November 2.
Sterne Agee's Shaw Wu attributed some of the quarter's weak iPad sales to Apple holding back supply of the third-generation iPad to stores, to clear the shelves ahead of the latest iPad.
'We were happy with the 14 million iPad sales in the quarter. It exceeded our expectations,' Oppenheimer said. 'But as the summer went on, the rumors were pretty rampant about the iPhone and iPad.'
For the December quarter, Apple forecast revenue of $52 billion, below the average estimate of $55 billion, according to Thomson Reuters I/B/E/S.
Apple ended the quarter with $121.3 billion in cash and securities, of which $83 billion was offshore, Oppenheimer said.
(Reporting by Poornima Gupta; Editing by Richard Chang)
This article is brought to you by CHEAP COMPUTERS.
Microsoft unveils Windows 8, Surface tablet
NEW YORK (Reuters) - Microsoft Corp launched its new Windows 8 operating system and Surface tablet on Thursday in a bid to revive interest in its flagship product and regain ground lost to Apple Inc and Google Inc in mobile computing.
'We've reimagined Windows and we've reimagined the whole PC industry,' Microsoft Chief Executive Steve Ballmer told Reuters Television.
Windows 8 devices and the company's new Surface tablet, which aims to challenge Apple's popular iPad head on, go on sale at midnight on Thursday.
Steven Sinofsky, head of Microsoft's Windows unit and the driving force behind Windows 8, opened the launch event in New York in front about 1,000 media and PC industry partners.
He showed off Windows 8's new touch-optimized design, but emphasized that the system was built upon the base of Windows 7, Microsoft's best-selling software that recently passed 670 million license sales.
While Windows 7 was introduced three years ago, Windows 8 represents the biggest change in Microsoft's user interface since Windows 95 came out 17 years ago.
The radical redesign, which dispenses with the Start button and features square tiles for apps, may surprise some users. Initial demand for Windows 8 appeared solid, but customers were wary.
'We've seen steady pre-order sales on Windows 8 devices from early adopters,' said Merle McIntosh, senior vice president of product management at online electronics retailer Newegg. 'However, we expect that most average consumers are waiting until after launch to make a purchase decision.'
REVIEWERS, INVESTORS UNCERTAIN
Microsoft is offering several versions of Windows 8. The basic Windows 8, the full Windows 8 Pro and Windows 8 Enterprise for large organizations will all run on the traditional PCs, laptops and new tablets using Intel Corp chips.
Through the end of January, users running Windows XP, Windows Vista or Windows 7 can download an upgrade to Windows 8 Pro for $40.
For the first time, Microsoft has also created a version called Windows RT which will be pre-installed on its Surface tablet and other devices using low-power chips designed by ARM Holdings.
Early reviews of the Surface tablet, which starts at $499, have been mixed, with praise for its slick hardware, but concerns about battery life and limited software and applications available.
Microsoft has not said how many apps Windows 8 will have at launch, but it is expected to be a fraction of the 275,000 available to iPad users. The New York Times Co announced a reader app for Windows 8 on Thursday, and Amazon.com Inc launched a Kindle e-book app for the new system, but some big names such as Facebook Inc are not expected to feature.
Investors were uncertain about the prospects for success of Windows 8, but many feel a solid launch could help Microsoft's stock, which has languished between $20 and $30 for much of the last decade.
Apple's shares have significantly outperformed Microsoft's over the past 10 years, and its market value is now more than double Microsoft's. Microsoft shares were up 0.3 percent at $27.99 on Thursday afternoon, while Apple shares were down 0.8 percent at $611.70.
'This really is about debunking the notion that Microsoft is a dinosaur and they are relevant in a new climate of tablets and mobile,' said Todd Lowenstein, portfolio manager at HighMark Capital Management, which holds Microsoft shares.
'Extreme pessimism and almost utter failure is priced into the shares, so any kind of positive delivery on units, customer perception, would be really beneficial to the stock.'
(Writing by Bill Rigby in Seattle; editing by Bernadette Baum, Jeffrey Benkoe and Matthew Lewis)
This news article is brought to you by INTERNET NEWS - where latest news are our top priority.
'We've reimagined Windows and we've reimagined the whole PC industry,' Microsoft Chief Executive Steve Ballmer told Reuters Television.
Windows 8 devices and the company's new Surface tablet, which aims to challenge Apple's popular iPad head on, go on sale at midnight on Thursday.
Steven Sinofsky, head of Microsoft's Windows unit and the driving force behind Windows 8, opened the launch event in New York in front about 1,000 media and PC industry partners.
He showed off Windows 8's new touch-optimized design, but emphasized that the system was built upon the base of Windows 7, Microsoft's best-selling software that recently passed 670 million license sales.
While Windows 7 was introduced three years ago, Windows 8 represents the biggest change in Microsoft's user interface since Windows 95 came out 17 years ago.
The radical redesign, which dispenses with the Start button and features square tiles for apps, may surprise some users. Initial demand for Windows 8 appeared solid, but customers were wary.
'We've seen steady pre-order sales on Windows 8 devices from early adopters,' said Merle McIntosh, senior vice president of product management at online electronics retailer Newegg. 'However, we expect that most average consumers are waiting until after launch to make a purchase decision.'
REVIEWERS, INVESTORS UNCERTAIN
Microsoft is offering several versions of Windows 8. The basic Windows 8, the full Windows 8 Pro and Windows 8 Enterprise for large organizations will all run on the traditional PCs, laptops and new tablets using Intel Corp chips.
Through the end of January, users running Windows XP, Windows Vista or Windows 7 can download an upgrade to Windows 8 Pro for $40.
For the first time, Microsoft has also created a version called Windows RT which will be pre-installed on its Surface tablet and other devices using low-power chips designed by ARM Holdings.
Early reviews of the Surface tablet, which starts at $499, have been mixed, with praise for its slick hardware, but concerns about battery life and limited software and applications available.
Microsoft has not said how many apps Windows 8 will have at launch, but it is expected to be a fraction of the 275,000 available to iPad users. The New York Times Co announced a reader app for Windows 8 on Thursday, and Amazon.com Inc launched a Kindle e-book app for the new system, but some big names such as Facebook Inc are not expected to feature.
Investors were uncertain about the prospects for success of Windows 8, but many feel a solid launch could help Microsoft's stock, which has languished between $20 and $30 for much of the last decade.
Apple's shares have significantly outperformed Microsoft's over the past 10 years, and its market value is now more than double Microsoft's. Microsoft shares were up 0.3 percent at $27.99 on Thursday afternoon, while Apple shares were down 0.8 percent at $611.70.
'This really is about debunking the notion that Microsoft is a dinosaur and they are relevant in a new climate of tablets and mobile,' said Todd Lowenstein, portfolio manager at HighMark Capital Management, which holds Microsoft shares.
'Extreme pessimism and almost utter failure is priced into the shares, so any kind of positive delivery on units, customer perception, would be really beneficial to the stock.'
(Writing by Bill Rigby in Seattle; editing by Bernadette Baum, Jeffrey Benkoe and Matthew Lewis)
This news article is brought to you by INTERNET NEWS - where latest news are our top priority.
Microsoft set to unveil Windows 8, Surface tablet
NEW YORK (Reuters) - Microsoft Corp launches its new Windows 8 operating system and Surface tablet in New York Thursday, hoping to revive interest in its flagship product and regain ground lost to Apple Inc and Google Inc in mobile computing.
'We've reimagined Windows and we've reimagined the whole PC industry,' Microsoft Chief Executive Steve Ballmer told Reuters Television early Thursday ahead of the launch.
Windows 8 devices and the company's new Surface tablet, which aims to challenge Apple's popular iPad head on, go on sale at midnight.
Early reviews of the Surface tablet have been mixed, with praise for its slick hardware, but concerns about battery life and limited software and applications available.
The new design of Windows, which dispenses with the Start button and features square tiles for apps, may shock some users. Initial demand appears solid, but customers are wary.
'We've seen steady pre-order sales on Windows 8 devices from early adopters,' said Merle McIntosh, senior vice president of product management at online electronics retailer Newegg. 'However, we expect that most average consumers are waiting until after launch to make a purchase decision.'
Investors are uncertain about the prospects for success of Windows 8, but many feel a solid launch could help Microsoft's stock, which has languished between $20 and $30 for much of the last decade.
Apple's shares have significantly outperformed Microsoft's over the past 10 years, and its market value is now more than double Microsoft's. Microsoft shares were unchanged in early trading on Nasdaq at $27.92; Apple was steady at $615.55.
'This really is about debunking the notion that Microsoft is a dinosaur and they are relevant in a new climate of tablets and mobile,' said Todd Lowenstein, portfolio manager at HighMark Capital Management, which holds Microsoft shares.
'Extreme pessimism and almost utter failure is priced into the shares, so any kind of positive delivery on units, customer perception, would be really beneficial to the stock.'
(Writing by Bill Rigby in Seattle; Editing by Bernadette Baum)
This news article is brought to you by INTERNET NEWS - where latest news are our top priority.
'We've reimagined Windows and we've reimagined the whole PC industry,' Microsoft Chief Executive Steve Ballmer told Reuters Television early Thursday ahead of the launch.
Windows 8 devices and the company's new Surface tablet, which aims to challenge Apple's popular iPad head on, go on sale at midnight.
Early reviews of the Surface tablet have been mixed, with praise for its slick hardware, but concerns about battery life and limited software and applications available.
The new design of Windows, which dispenses with the Start button and features square tiles for apps, may shock some users. Initial demand appears solid, but customers are wary.
'We've seen steady pre-order sales on Windows 8 devices from early adopters,' said Merle McIntosh, senior vice president of product management at online electronics retailer Newegg. 'However, we expect that most average consumers are waiting until after launch to make a purchase decision.'
Investors are uncertain about the prospects for success of Windows 8, but many feel a solid launch could help Microsoft's stock, which has languished between $20 and $30 for much of the last decade.
Apple's shares have significantly outperformed Microsoft's over the past 10 years, and its market value is now more than double Microsoft's. Microsoft shares were unchanged in early trading on Nasdaq at $27.92; Apple was steady at $615.55.
'This really is about debunking the notion that Microsoft is a dinosaur and they are relevant in a new climate of tablets and mobile,' said Todd Lowenstein, portfolio manager at HighMark Capital Management, which holds Microsoft shares.
'Extreme pessimism and almost utter failure is priced into the shares, so any kind of positive delivery on units, customer perception, would be really beneficial to the stock.'
(Writing by Bill Rigby in Seattle; Editing by Bernadette Baum)
This news article is brought to you by INTERNET NEWS - where latest news are our top priority.
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