A day after a NY Times report stating harsh working conditions at Apple’s component suppliers in China. Apple CEO Tim Cook said the company cares about every worker in its supply chain and that any suggestion to the contrary was patently false and offensive in nature. Cook addressed the issues highlighting the report in an e-mail sent to employees today. The New York Times published a report that profiled hazardous factory conditions – recounted an explosion at a plant in Chengdu that killed four, focusing on the final months...
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Twenty-two states of European Union have attended the ceremony in Japan and signed the Anti-Counterfeiting Trade Agreement (ACTA) on Thursday, January 26. An ACTA is a global treaty that is somehow similar to SOPA and PIPA – which try to normalize copyright protection and IP standards. Parliamentary Vice-Minister Nakano expressed his welcome for the signing on the Agreement by the EU and its Member States and stated that he was confident that this signing would create a further momentum towards early entry into the force and expansion...
South Korean Electronics Giant Samsung on Friday reported record earnings for the fourth quarter last year results with a 17% rise in profits in the final three months of 2011. Samsung recorded an operating profit of 5.3 trillion won, or approximately $4.72 billion USD, on sales of 47 trillion won, or approximately $42 billion USD. Samsung said that its Galaxy line of mobile devices drove up revenue for the year by almost 40% compared with the previous year. Despite tough competition from the iPhone maker Apple in the smartphone market,...
A week after German’s Mannheim Regional Court dismissed Samsung’s first lawsuit against Apple, the court today rejected Samsung’s second complaint too. Today’s ruling addresses Korean manufacturer arguments that Apple 3G/UMTS technology infringes upon its patents. Judge Andreas Voss did not state any particular reasons for the decision. The outcome of Samsung’s...
Security Software giant McAfee rejected rival Symantec Corporation claim that several large corporate customers had recently switched over to using products. Intel bought McAfee in a $7.7 billion deal in order to spur growth at the world’s top chipmaker. McAfee Senior Vice President for Finance and Accounting Edward Hayden told Reuters that the claim was false. He added that his company had booked a record amount of business in its December quarter, signed its biggest deal ever and closed more sales over $1 million than it had in any...
With just a week passed when Apple reported its highest quarterly earnings of record $46.3 billion in revenue, the company is still find itself somewhere in reports of labor abuses among its suppliers. The company employs around 43,000 people in the United States and 20,000 overseas. There are also those employees who works with the company on contract basis like...
Motorola Mobility Holdings, Inc. released their net revenues of $3.4 billion in the fourth quarter of 2011, comparable to the fourth quarter of 2010. The GAAP net loss in the fourth quarter of 2011 was $80 million, or $0.27 per share, compared to net earnings of $80 million, or $0.27 per share, in the fourth quarter of 2010. On a non-GAAP basis, net earnings in the...
Nokia and Microsoft have “been silent” from quite a longer time about their Windows Phone partnership – but with the announcement of Finnish mobile maker, Nokia’s Q4 2011 earnings report, it’s confirmed that the companies were in partnership – Microsoft paid $250 million to Nokia for adopting Windows Phone. “Our broad strategic agreement with Microsoft...
AT&T Inc. reported fourth-quarter results highlighted by record mobile broadband sales, strong wireless network performance and improved wireline revenue trends. Consolidated revenues clocked in at $32.5 billion, up 3.6 percent compared to the year-earlier quarter. They recorded a huge net loss for Q4 2011 of $6.7 billion, or $1.12 per diluted share. These results compare with reported net income attributable to AT&T of $1.1 billion, or $0.18 per diluted share, in the fourth quarter of 2010. Excluding significant items, earnings...
RealNetworks Inc. has announced that is has signed an agreement to sell a “significant number” of its patents – approximately 190 patents and 170 patents applications and its next generation video codec software to Intel Corporation for a purchase price of $120 million. “Selling these patents to Intel unlocks some of the substantial and unrealized value of RealNetworks assets,” said Thomas Nielsen, RealNetworks President and CEO. “It represents an extraordinary opportunity for us to generate additional capital...
