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| China's Huawei says will increase transparency Tuesday, Oct 23, 2012 07:45 PM PDT  CANBERRA (Reuters) - Chinese telecoms equipment firm Huawei Technologies Co Ltd pledged on Wednesday to increase its transparency to counter security concerns, proposing to set up a cyber security evaluation center in Australia. Huawei, which was barred from participating in Australia's $38 billion high-speed broadband network and was the subject of a U.S. Congress committee recommendation that firms stop doing business with it, said the proposed center would give complete access to its software source code and equipment. ... Full Story | Top |
| Microsoft's newest weapon in China piracy fight Tuesday, Oct 23, 2012 07:17 PM PDT  SHANGHAI (Reuters) - In 20 years in China, Microsoft Corp hasn't had much luck. It is the world's largest market for PCs and yet with piracy rates as high as 77 percent, the software company is seeing only a fraction of the revenue it could collect. That might change with the launch of its Surface tablet, which goes on sale online in China at the same time as a handful of other countries. The Surface is a rare piece of Microsoft hardware, and will run the company's new Windows 8 operating system. ... Full Story | Top |
| Netflix shares drop after it cuts subscriber forecast Tuesday, Oct 23, 2012 05:42 PM PDT  LOS ANGELES (Reuters) - Netflix Inc added fewer U.S. customers than Wall Street expected in the third quarter, forcing the company to roll back its year-end subscriber forecast and sending shares plunging 15 percent. Netflix said on Tuesday it added 1.2 million new U.S. customers to its on-demand TV and movie streaming service during the July to September period, for a total of 25.1 million. That fell at the low end of the company's guidance and below what some analysts predicted. Shares of the company fell 15 percent to $58.04 in after-hours trading, down from an earlier $68. ... Full Story | Top |
| Apple unwraps mini-iPad to take on Amazon, Google Tuesday, Oct 23, 2012 04:22 PM PDT  SAN JOSE (Reuters) - Apple Inc will begin to sell an 8-inch version of the iPad on Friday to compete with Amazon.com Inc's Kindle and other smaller tablets, but it set a higher-than-expected price tag of $329 that Wall Street fears could curb demand. The 7.9 inch "iPad mini" marks the iPhone-maker's first foray into the smaller-tablet segment. Apple hopes to beat back incursions onto its home turf of consumer electronics hardware, while safeguarding its lead in a larger tablet space - one that even deep-pocketed rivals like Samsung Electronics have found tough to penetrate. ... Full Story | Top |
| Brands cry foul over unauthorized sellers on Amazon Tuesday, Oct 23, 2012 04:19 PM PDT  SAN FRANCISCO (Reuters) - Amazon.com Inc is grappling with a problem that eBay Inc has struggled with for years: The proliferation of unauthorized third-party sellers that undercut the world's top consumer brands. The sellers offer online shoppers goods ranging from Guess watches to LG televisions and Adidas sportswear at low prices, upsetting Amazon suppliers who want the world's largest online retailer to crack down on unauthorized discounting. On eBay, the brands mostly complained about counterfeit products sold by third parties. ... Full Story | Top |
| Broadcom sees fourth-quarter revenue decline Tuesday, Oct 23, 2012 03:51 PM PDT NEW YORK (Reuters) - Broadcom Corp on Tuesday forecast a decline in revenue for the fourth quarter due to challenging market conditions including weakness in its infrastructure chip business. While Broadcom's third-quarter revenue was better than Wall Street expected, its weak outlook was not a big surprise as chip makers such as Texas Instruments and Intel Corp have posted weak results due to softness in the global economy. ... Full Story | Top |
| Facebook mobile revenue grows faster than expected Tuesday, Oct 23, 2012 03:43 PM PDT  SAN FRANCISCO (Reuters) - Facebook Inc grew mobile advertising revenue several times in the third quarter, a faster-than expected pace that helped reassure investors that the world's No. 1 social network is beginning to figure out how to earn money off smartphone and tablet users. The company now gets 14 percent of its advertising revenue from mobile ads, translating into more than $150 million -- a surge from an estimated $40 million to $50 million in the second quarter and almost nothing in the first. ... Full Story | Top |
| VMware profit beats estimates, names new CFO Tuesday, Oct 23, 2012 03:14 PM PDT (Reuters) - Software maker VMware Inc's third-quarter profit beat estimates on stronger-than-expected sales to the U.S. government, but it forecast current-quarter revenue in a range largely below expectations. VMware also named Jonathan Chadwick as its new chief financial officer on Tuesday. Chadwick has previously served as Microsoft Corp's corporate vice president and as the CFO of Skype. "The CFO has been a vacant position in the company for quite some time and its good to see a CFO hired with good solid industry experience," ISI Group analyst Brian Marshall said. ... Full Story | Top |
| Facebook CEO says mobile opportunity misunderstood Tuesday, Oct 23, 2012 03:06 PM PDT SAN FRANCISCO (Reuters) - Facebook Inc CEO Mark Zuckerberg said that the mobile opportunity was "the most misunderstood" aspect of Facebook's business, during a conference call with analysts on Tuesday. (Reporting By Alexei Oreskovic) Full Story | Top |
| Netflix shares drop after subscriber forecast Tuesday, Oct 23, 2012 03:04 PM PDT LOS ANGELES (Reuters) - Netflix Inc signed up fewer new U.S. subscribers than Wall Street expected and rolled back the total number of customers for the year, sending its shares plunging 15 percent. Netflix said on Tuesday it added 1.2 million new customers to its on-demand TV and movie streaming service in the United States during the July to September period, for a total of 25.1 million. Shares of the company fell 15 percent to $58.04 in after-hours trading, down from an earlier $68.22 close on Nasdaq. ... Full Story | Top |
| Apple's Schiller defends iPad mini's price tag Tuesday, Oct 23, 2012 02:34 PM PDT  SAN FRANCISCO (Reuters) - Apple marketing wizard Phil Schiller defended the $329 price of the new iPad mini tablet, saying consumers will be willing to pay for quality not found in less expensive devices from rivals like Google and Amazon. With competition growing from tablets that are smaller and less expensive than Apple's wildly popular iPads, Apple Chief Executive Tim Cook and Schiller on Tuesday took the wraps off the new 7.9-inch tablet, which essentially has most of the functions and features of the full-size iPad but in a smaller package. ... Full Story | Top |
| Apple set to unwrap mini-iPad to take on Amazon, Google Tuesday, Oct 23, 2012 01:43 PM PDT  SAN JOSE (Reuters) - Apple Inc is expected to make its biggest product move on Tuesday since debuting the iPad two years ago, launching a smaller, cheaper tablet into a market staked out by Amazon.com Inc and Google Inc. Apple hopes to beat back their charge onto its home turf of consumer electronics hardware, while safeguarding its lead in the larger 10-inch tablet space that even deep-pocketed rivals like Samsung Electronics have found tough to penetrate. ... Full Story | Top |
| Apple's iPad mini to start at $329, go on sale Friday Tuesday, Oct 23, 2012 11:20 AM PDT SAN JOSE (Reuters) - Apple Inc will sell its new 7.9-inch "iPad mini" for $329 and up, higher than some industry observers had expected. The company, which hopes to beat back rivals such as Google Inc and Amazon.com Inc with their $199 seven-inch tablets, said online sales will begin on Friday and shipments start a week later. (Reporting By Poornima Gupta and Noel Randewich) Full Story | Top |
| Telenor Q3 results beat forecasts Tuesday, Oct 23, 2012 10:36 AM PDT OSLO (Reuters) - Norwegian telecoms firm Telenor reported third-quarter earnings ahead of forecasts on Tuesday. Telenor, which has over 150 million subscribers across Europe and Asia, said earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6.1 percent to 8.796 billion crowns ($1.53 billion), beating the average of forecasts for 8.54 billion crowns. Telenor, which inadvertently released the report ahead of its 0500 GMT release time on Wednesday also slightly lowered its full-year revenue growth guidance to around 4 percent, from a previous target for above 4 percent. ... Full Story | Top |
| Nokia seeks $972 million from bonds to help drive fightback Tuesday, Oct 23, 2012 10:29 AM PDT  HELSINKI (Reuters) - Mobile phone maker Nokia plans to raise 750 million euros ($972 million) from bonds convertible into shares, seeking a cheap way to help finance its fight to claw back market share lost to Apple and Samsung. Once the world's biggest mobile phone maker, the Finnish firm has fallen far behind Apple's iPhone and Samsung's Galaxy phones in the lucrative smartphone market, and is pinning its hopes for recovery on new models that go on sale next month. ... Full Story | Top |
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