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Business, Financial & Legal Posts - Page 47

Tim Cook says 'Android Switchers' made up 60% of iPhone 4S, 5C sales

Apple has quite a few iPhones under its belt now, but why exactly does it keep its low-end iPhone 4S and not-so-great iPhone 5C on its roster? Well, Apple CEO Tim Cook has something to say about that.

 

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He said that 62% of iPhone 4S consumers, and 60% of iPhone 5C buyers were switching from Android. Cook said that this is why Apple keeps its lower-end devices available, as it drags in the lower-end Android consumers. Personally, I have no idea what Cook was on when he said that, considering a "low-end" smartphone like the iPhone 5C is close to double the price of the Nexus 5 - or even the just-announced OnePlus One smartphone - which has flagship hardware at just $299.

Facebook made $642 million this quarter, with $2.5 billion in revenue

The numbers are in for Facebook's Q1 2014, with the social networking site posting $2.5 billion in revenue, beating analysts' expectations, with an operating income of 43%.

 

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Net income reached $642 million, with earnings per share of $0.25, representing a 70% gain in profits in twelve months. Advertising delivered revenues of $2.27 billion, which is an 82% increase year-over-year. Mobile advertising was also big business, which made up 59% of advertising revenue for the first three months of 2014, up from 30% of the advertising revenue of the first quarter of last year.

 

Costs and expenses to Facebook for Q1 2014 sat at $1.43 billion, which is a 32% increase year-over-year. This is mostly for the headcount and infrastructure Facebook requires. Income tax expense for Q1 2014 was $433 million, delivering a 40% effective tax rate.

Apple's Q2 2014 results: $45.6 billion revenue, $10.2 billion profit

Apple has just posted its fiscal Q2 2014 earnings, with a massive $45.6 billion in revenue. From that, there is $10.2 billion in net profit, providing $11.62 per share. When comparing it year-over-year, Apple is up 4.6% in revenue, and 15.2% in EPS.

 

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Analysts have said that the company has faced a flat quarter, with flat revenue, flat gross margin, flat net profit - flat everywhere. This is due to a slump in iPad sales, but it would've been worse if it wasn't for increased iPhone sales - a slight increase at that. But, even then, Apple performed better than analysts' expectations. Why? China.

 

During the three-month period, Apple sold 43.7 million iPhones, 16.4 million iPads and 4.1 million Macs. Compared to the same quarter of last year, iPhone sales increased by 16.8%, but iPad sales actually declined by 15.9% - a big jump. Apple CEO Tim Cook said: "We're very proud of our quarterly results, especially our strong iPhone sales and record revenue from services. We're eagerly looking forward to introducing more new products and services that only Apple could bring to market".

Google announces plan to lease solar panels to home owners

Google is first thought of as a search firm by many of us, but it has fingers in so much more than search alone those days. Google is really big into green projects and renewable energy and has announced an interesting offer for homeowners. Google and SunPower have teamed up to offer homeowners the opportunity to lease solar panels for the roof of their home.

 

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Google has chipped in $100 million for the fund and SunPower added in $150 million. The money in the fund is being used to buy solar panels outright that Google will then lease out to homeowners. The panels will be installed on the home and provide green electricity.

Continue reading 'Google announces plan to lease solar panels to home owners' (full post)

95 floors in 43 seconds: Hitachi to build the world's fastest elevator

I've been in a few of the world's fastest elevators, where I was impressed with the Taipei 101's elevator that flies up at 38mph - which feels insane. It is a Toshiba built elevator, but Hitachi will become the new speed king in 2016.

 

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Hitachi has been tasked with building two lifts inside China's Guangzhou CTF Finance Centre, which will be capable of scooting along at 45mph. This means you can go from the ground floor, all the way up to the 95th floor (of 111 floors total) in just 43 seconds. Hitachi has said that passengers' ears and bodies will be safe from the sheer speeds of its upcoming elevators, thanks to the lifts being made from heat-resistant materials, and more.

HTC is eyeballing Nokia's India-based manufacturing facility

With Microsoft closing its acquisition deal with Nokia this week, HTC has began eyeballing some of the Nokia-owned assets that will not be transferring over in the deal. A new report from CNET says that HTC is looking to purchase Nokia's manufacturing facility located in Chennai, India. The news comes from HTC's CFO, Chialin Chang, who said that his company was looking into a possible purchase of the facility.

 

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Unfortunately for HTC, the plant has been mixed up in a tax debate in which the Indian government says Nokia owes $500 million in back taxes on the facility. This is one of the major reasons that Microsoft has no interest in the facility, and has expressly avoided adding it into its acquisition deal with Nokia. This could turn out to be a major win for HTC though as the Indian Government could seize the facility and sell it to HTC for pennies on the dollar.

Compton, CA spied on using drone aircraft by Sheriff's department

A report is making the rounds that the police in Compton, California carried out a secret experiment in 2013 that involved the use of surveillance drones. The drone aircraft was equipped with a HD video camera and allows operators to zoom in on any point within the municipality. Compton spans about 10-square miles.

 

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The demonstration was conducted by a company called Persistence Surveillance Systems and one of its workers named Ross McNutt says, "We literally watched all of Compton during the times that we were flying, so we could zoom in anywhere within the city of Compton and follow cars and see people."

Continue reading 'Compton, CA spied on using drone aircraft by Sheriff's department' (full post)

Apple offers free recycling for all of its used products

Apple wants to make the world a greener place, and plans to provide free e-recycling of all its used products when consumers decided to upgrade. In addition, the company also is using renewable energy in its offices and data centers to help cut back on pollution.

 

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"What the company wants to do is use all of our innovation and all of our expertise to make the planet more secure and make the environment better," said Lisa Jackson, Apple VP of environmental initiatives, told the AP.

 

Apple issues gift cards to recycled products which can be resold, though this offer is for products that don't have resell value - instead, customers are able to turn in the device so Apple can foot the bill for it to be properly disposed of.

Continue reading 'Apple offers free recycling for all of its used products' (full post)

GitHub co-founder calls it quits after alleged discrimination claim

Today GitHub announced that its co-founder and president, Tom Preston-Werner has resigned his position with the company after accusations of discrimination proved to be untrue. In March, a former female enginner, Julie Ann Horvath, accused GitHub of gender discrimination, and claimed that the work environment was centered around a "boys club" that she could not seem to join. GitHub hired a third-party company to hold an independent investigation into the claim. No evidence of any discrimination was found.

 

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"The investigation found no evidence to support the claims against Tom and his wife of sexual or gender-based harassment or retaliation, or of a sexist or hostile work environment," GitHub CEO and co-founder Chris Wanstrath wrote in a blog post. "However, while there may have been no legal wrongdoing, the investigator did find evidence of mistakes and errors of judgment."

Nokia and Microsoft to finalize acquisition deal on April 25th, 2014

In just four days, one of the biggest names in mobile communication will cease to exist as we know it for ever. Today Nokia announced that it would be finalizing the acquisition deal with Microsoft on April 25th. This deal began back in September of 2013 when Microsoft announced that it had begun the acquisition of Nokia's Devices and Services division for $7.2 billion, and would take over Nokia's mobile phone business in 2014.

 

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"The completion of this acquisition follows several months of planning and will mark a key step on the journey towards integration. This acquisition will help Microsoft accelerate innovation and market adoption for Windows Phones. In addition, we look forward to introducing the next billion customers to Microsoft services via Nokia mobile phones," Microsoft said in a statement.

Continue reading 'Nokia and Microsoft to finalize acquisition deal on April 25th, 2014' (full post)

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