TweakTown
Tech content trusted by users in North America and around the world
6,208 Reviews & Articles | 40,159 News Posts
TRENDING NOW: GTA V will have 'just for PC' features, including a video editor

TweakTown News

Refine News by Category:

Business, Financial & Legal Posts - Page 63

Lenovo buys Motorola from Google for $2.91 billion

Lenovo has just purchased Motorola Mobility from Google for a cool $2.91 billion, which will provide the Chinese smartphone manufacturer with a more competitive stance in the US market.

 

TweakTown image news/3/5/35151_01_lenovo_buys_motorola_from_google_for_2_91_billion.jpg

 

The Chinese manufacturer will complete the purchase with a mix of cash, and stock. Google will continue to own most of Motorola's patents, while 2,000 patents and a license on the remaining patents will be handed over to Lenovo. Lenovo will shell out $660 million in cash to Google, $750 million in stock, and the remaining $1.5 billion will be paid out over the next three years.

 

Google CEO Larry Page said in a statement "Lenovo has the expertise and track record to scale Motorola Mobility into a major player within the Android ecosystem. This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere".

Continue reading 'Lenovo buys Motorola from Google for $2.91 billion' (full post)

Lenovo splits itself into four business groups

Lenovo has just announced that as of April 1, it will split itself into four business groups that will each tackle completely different parts of the market.

 

TweakTown image news/3/5/35143_08_lenovo_splits_itself_into_four_business_groups.jpg

 

Yang Yuanqing, Chairman and Chief Executive of Lenovo, said "Today, Lenovo is in one of the most important and exciting phases in our history. We are the number 1 PC company in the world. We are number 3 in Smart Connected Devices (PC, tablet, smartphone). And we just announced the intent to make an acquisition that will make us a significant competitor in the enterprise space".

 

Lenovo will split into four completely different business groups, as follows:

 

PC Business Group (including Lenovo and Think brands), led by Gianfranco Lanci, who currently leads Lenovo EMEA. The business unit will continue to sell PCs and ensure that they offer value to both traditional users of Think-branded machines as well as offer modern functionality.

 

Mobile Business Group (smartphone, tablet, smart TV), led by Liu Jun, who currently leads the Lenovo Business Group (consumer and mobile products). This group is focused on making Lenovo a profitable global player in the smartphone and tablet markets and developing the company's smart TV business.

 

Enterprise (including servers and storage), will be led by Gerry Smith, who currently leads Lenovo's Americas Group. The goal of this group is to aggressively build a new, fast-growing profit engine in enterprise, where we already have a solid foundation. Pending regulatory approvals, the business represented by the recently announced acquisition of IBM's x86 server business would be integrated into Mr. Smith's organization.

 

Ecosystem and Cloud Services (including both Android and Windows opportunities), led by George He, senior vice president, Lenovo, who currently serves as Chief Technology Officer. The goal of this group is to continue building Lenovo's China ecosystem and drive a strategy for monetization and ecosystem expansion.

EA posts $308 million loss for Q3 2014

Electronic Arts has posted its fiscal Q3 2014 results, where the company reported a net revenue of $808 million, compared to $922 million reported in

the same quarter of last year.

 

TweakTown image news/3/5/35127_02_ea_posts_308_million_loss_for_q3_2014.jpg

 

The company reported that 50.7% of its $808 million in revenue came in from digital sales, which is a massive point. $410 million, over 50%, came in from non-physical sales. EA is also reporting a trailing twelve-month total revenue of $3.66 billion, with a projected revenue for the entire of fiscal 2014 of $3.52 billion.

Over one billion smartphones were shipped last year

Last year was a massive year for smartphones, with over one billion smartphones shipped last year. The International Data Corporation has some data that shows that 1,004.2 million smartphones were shipped last year.

 

TweakTown image news/3/5/35109_02_over_one_billion_smartphones_were_shipped_last_year.jpg

 

This is an increase of 38.4% from last year, where 725.3 million smartphones were shipped. Of those 1 billion smartphones shipped, Samsung held the lions share with 313.9 million handsets, increasing its market share from 30.3% to 31.3%. Apple took second place with 153.4 million iPhones shipped over the course of 12 months.

 

Apple's market share slipped however, from 18.7% to 15.3%, even with it posting a record number of iPhones in the last quarter. Huawei, LG, and Lenovo did not mind though, as they scooped up that lost market share. Huawei shipped 48.8 million, LG shipped 47.4 million, and Lenovo pushed out an impressive 45.5 million smartphones in the quarter.

Google, Samsung ink new 10-year patent licensing deal

Google and Samsung have just shown how a certain fruit logo company the way it's done in the patent game, by signing a massive deal to license their patent portfolios to one another.

 

TweakTown image news/3/5/35113_03_google_samsung_ink_new_patent_licensing_deal.png

 

The new deal sees existing intellectual property covered, as well as patents filed over the next ten years.Samsung's Seungho Ahn says "Samsung and Google are showing the rest of the industry that there is more to gain from cooperating than engaging in unnecessary patent disputes". Google's Allen Lo chimed in with "By working together on agreements like this, companies can reduce the potential for litigation and focus instead on innovation".

 

This is how the industry should be acting, with two of the biggest players cooperating with one another. Samsung is a massive partner for Google, but could be a potential competitor with Tizen on the horizon. Google on the other hand, is simply unstoppable right now with the amount of hardware and services it provides to the world.

Apple delivers record Q1 2014 sales, over 51 million iPhones sold

After some major slumps in revenue, Apple is back, bigger than ever for its Q1 2014. Revenue reached $57.6 billion, setting a new quarterly record for the company, with profits reaching a nice $13.1 billion.

 

TweakTown image news/3/5/35102_08_apple_delivers_record_q1_2014_sales_over_51_million_iphones_sold.png

 

Device sales are where it gets interesting, with iPhone sales bursting through the 50 million mark - the first time it has ever done so in a quarter. iPad sales also reached a new record, selling over 26 million units. The iPod didn't see the same success, with sales dropping to 6 million, down from 12.7 million at the same time last year.

 

TweakTown image news/3/5/35102_09_apple_delivers_record_q1_2014_sales_over_51_million_iphones_sold.png

 

Apple has seen its share price completely erode from 2012 when we saw it coming - from $700 down to under $400 throughout 2013. At the moment, it is half way back sitting at around $550. Today's earnings report should help Apple claw back some of that much needed increase in stock prices.

Bitcoin executive targeted in Silk Road money laundering scheme

BitInstant CEO Charlie Shrem was recently arrested and charged with conspiracy to commit money laundering, accused of funneling funds for the now defunct Silk Road website. Specifically, Shrem and his accused partner, Robert Faiella, allegedly sold more than $1 million in Bitcoin to Silk Road users, with the funds later used to purchase drugs and other illegal goods.

 

TweakTown image news/3/5/35099_01_bitcoin_executive_targeted_in_silk_road_money_laundering_scheme.jpg

 

"The charges announced today depict law enforcement's commitment to identifying those who promote the sale of illegal drugs throughout the world," said James Hunt, DEA spokesperson, in a statement. "Hiding behind their computers, both defendants are charged with knowingly contributing to and facilitating anonymous drug sales, earning substantial profits along the way."

 

Shrem also used Silk Road to order marijuana brownie edibles, with the Drug Enforcement Administration (DEA) and Internal Revenue Service lending a hand in the investigation, according to the U.S. Attorney for the Southern District of New York.

 

This is a major blow to the Bitcoin community, as Shrem has traveled the world to promote the use of Bitcoins for consumers and businesses alike. As federal investigators continue to look for financial backers and supporters of the Silk Road operation, additional high-profile arrests are possible later down the road.

Google acquires Deepmind, an AI development company for $400 million

Google has apparently been in a spending mood lately and has been buying up companies that could turn the search giant into one of the largest defense contractors in history. Just a few months ago, we saw Google purchase Boston Dynamics, a company that is responsible for developing the four-legged robotic hell hounds that can run at highway speeds while carrying automated weapons.

 

TweakTown image news/3/5/35093_1_google_acquires_deepmind_an_ai_development_company_for_400_million.jpg

 

Today word is spreading around the internet of yet another Google acquisition involving intelligent technology. Google has reportedly purchased Deepmind, a company specializing in Artificial Intelligence based out of London, England. The purchase is worth a reported $400 million USD, although that figure has not officially been confirmed yet. Deepmind's website says that it works on developing "general purpose" learning algorithms, something that could be used to further Google's research into automated vehicles, Android, or even some of its robots at Boston Dynamics.

TigerDirect now accepting Bitcoins as payment for goods

It seems like more and more retailers are jumping on the Bitcoin bandwagon every day with the TigerDirect being the latest to start accepting the cryptocurrency. TigerDirect now allows payment via Bitcoins through the payment processor, BitPay, and can be used to purchase more than 200,000 items that TigerDirect stocks.

 

TweakTown image news/3/5/35066_1_tigerdirect_now_accepting_bitcoins_as_payment_for_goods.jpg

 

TigerDirect says that both its desktop and mobile versions of the site accept the virtual currency, and has even listed a handy getting started guide to Bitcoin payments and even Bitcoin mining at the source link provided below. "With individuals building their own high-powered PCs with parts offered on our site to mine Bitcoins, it's a logical fit." Steven Leeds, TigerDirect's marketing chief said in the company's announcement.

Qualcomm purchases large patent portfolio from HP

This morning HP announced that it has sealed a deal in which Qualcomm will purchase an extensive mobile patent portfolio that includes patents associated with Palm, HP's iPAQ, and Bitfone. In total HP will sell more than 1,400 patents to Qualcomm for an undisclosed sum.

 

TweakTown image news/3/5/35064_1_qualcomm_purchases_large_patent_portfolio_from_hp.jpg

 

Qualcomm makes about 32-percent of its annual revenue from licensing patents it owns, and this portfolio acquisition from HP will certainly help boost those revenues to an even higher percentage in 2014. In a statement Qualcomm said that the patents include "technologies that include fundamental mobile operating system techniques" and will "enable the company to offer even more value to current and future licensees."

 

HP says that it will retain a license to all the patents it sold as part of the deal, and it will continue to develop new mobile devices. Unfortunately, no word was given on how this affects LG who purchased WebOS' source code last year, but did not pick up the patent that now belongs to Qualcomm. Qualcomm and HP have a good relationship so I expect things will continue on as normal.

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases