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Nintendo financials plunge, even with Pokemon GO's immense success

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 3 days, 8 hours ago

Pokemon GO might have exploded in popularity in its mere weeks on the market, but Nintendo's financials for their recent quarter are not good, at all.

 

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Nintendo's net sales are down 31% compared to the same quarter of 2015, hitting $587 million. Nintendo also had an operating loss of $48 million, and only sold 220,000 Wii U consoles in the quarter, bringing the total number of Wii U consoles sold to over 13 million.

 

The Nintendo 3DS had another 1 million sales, and in regards to Pokemon GO - remember that Nintendo only owns parts of the game and not the entire game as Niantic steers that ship. Nintendo announced that it has delayed the Pokemon Go Plus accessory, which will now be released in September.

Continue reading 'Nintendo financials plunge, even with Pokemon GO's immense success' (full post)

Vizio acquired by LeEco, a Chinese electronics giant for $2 billion

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 3 days, 10 hours ago

Vizio has made a name for itself as budget TV maker in the US, with the company getting acquired by Chinese electronics maker LeEvo in a deal worth $2 billion.

 

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The US-based budget TV maker will continue its day-to-day operations in California, where Vizio will now act as a subsidiary of LeEco. Vizio founder and CEO William Wang will be leaving the company in a way, with Vizio's data business, Inscape, being spun off into a privately held company where LeEco will hold 49% ownership.

 

Wang will act as chairman and CEO of Inscape where he will hold a controlling 51% stake. During the press event, Wang said he had mixed feelings regarding the deal, and as the owner and CEO of Vizio, he was reluctant to let it go. But, he said the acquisition deal was the best decision for Vizio's hard-working staff and loyal shareholders.

Continue reading 'Vizio acquired by LeEco, a Chinese electronics giant for $2 billion' (full post)

Carpool Karaoke fan? Yeah, Apple signs 16 episodes for Apple Music

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 3 days, 15 hours ago

Carpool Karaoke has been a huge hit for The Late Late Show with James Corden, and now Apple is jumping into the driver's seat signing an exclusive deal with CBS for a 16-episode series.

 

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Apple's upcoming 16-episode series of Carpool Karaoke will hit Apple Music subscribers with celebrity guests, with no host assigned to the show just yet. The show will still appear on Corden's show, reports Engadget, especially when it has smash hit segments with Adele and over 119 million views.

 

The latest Carpool Karaoke segment had Michelle Obama, the First Lady of the United States, who showed the world that she isn't just charismatic, but she has some singing skills, too.

Verizon reportedly buying Yahoo for $5 billion

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 6 days, 9 hours ago

It looks like Yahoo is going to be acquired by Verizon in the very near future, with Recode reporting that while the terms of the acquisition haven't been finalized, Yahoo's board have decided on Verizon as its new owner.

 

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Verizon would be acquiring Yahoo for $5 billion, and while it might not sound like much in the world of other acquisitions worth many times more than that, Yahoo does own companies like Tumblr and Flickr. Verizon acquiring Yahoo sees them also receive those companies, which begins to make more sense.

 

But the most interesting part of Verizon's reported acquisition of Yahoo is that Verizon isn't interested in keeping Yahoo's current boss, Marissa Mayer. AOL boss Tim Armstrong is expected to take over the Yahoo ship once the acquisition is done. Adding fuel to the fire is that Armstrong proposed an AOL-Yahoo merger to Meyer years ago, with Meyer denying the deal.

French court rules Google, Bing don't have to censor torrent searches

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: 1 week, 3 days ago

The High Court of Paris has ruled Google and Bing are not required to filter torrent-related searches within their respective engines. The request to implement such functionality as well as block websites with the word torrent in their name was put forth by local music industry organization Syndicat national de l'édition phonographique (SNEP).

 

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SNEP's argument -- based upon its country's intellectual property code which states "all appropriate measures" are allowed in preventing copyright infringement -- was that torrent searches linked largely to illegal content. It's not an outrageous argument to make as pirate websites have disappeared before under the aforementioned code. In this case, however the court decided such measures were not appropriate, thanks in part to Microsoft's argument that such a filtering system would be , as TorrentFreak describes it, "imprecise, disproportionate and inefficient" (thus punishing legal websites).

Continue reading 'French court rules Google, Bing don't have to censor torrent searches' (full post)

Pokemon GO helps Nintendo become worth more than Sony

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 3 days ago

We all know just impossibly huge Pokemon GO has been, but with Nintendo struggling against Microsoft and Sony in the console war, Pokemon GO has helped Nintendo surpass Sony in the stock market.

 

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Nintendo is now worth more than Sony, and that is thanks to Pokemon GO. Don't believe me? Look at the chart above, and you'll see the insane spike in Nintendo's market cap since Pokemon GO launched earlier this month. Nintendo's stock has increased by close to $20 billion, a near 100% increase from what it was before Pokemon GO launched.

 

The numbers are absolutely off the charts, and I'm sure Nintendo is celebrating like crazy right now. It could probably give everyone who plays Pokemon GO a free next-gen Nintendo NX console when it launches and not even feel the pinch on their credit card, and it's all thanks to Pokemon GO - which is a free game. Insanity.

Netflix is home to 83 million subscribers, growth is slowing though

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 4 days ago

Netflix is currently home to 83 million subscribers, adding only 160,000 subscribers in the US and 1.52 million across the world since April.

 

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The company has said that the slow growth is a result of the increase in churn, which could be due to the fact that they ended grandfathered plans for loyal Netflix subscribers. Back in April, Netflix predicted it would have 2 million more international subscribers, and 500,000 in the US - but it has missed that by quite a lot.

 

Netflix pulled in $2.11 billion in revenue over the quarter, which is what analysts expected from the streaming giant. Investors now want to feel safe with their investments into Netflix, where they want to see continued growth - especially in a world with that changes so quickly. Netflix has some massive shows on its roster like House of Cards and Orange is the New Black, but the new Star Trek deal could become quite a big one in the years to come, too.

Uber has over 2 billion rides, with 1 billion in the last 6 months

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 4 days ago

Uber has hit a new milestone, with over 2 billion rides through its app - which is pretty crazy considering the ride-sharing giant had 1 billion rides just 6 months ago now.

 

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The company added $4.7 billion to its war chest a few weeks ago, reports Reuters, with the 2 billionth ride milestone reached on June 18. It took Uber around 6 years to hit the first 1 billion rides, but only 6 months to rack up another 1 billion rides.

 

Uber has been spending money on recruiting drivers and passengers, thanks to the huge $13 billion in funding it received from investors. Uber boss Travis Kalanick said that there were 147 simultaneous Uber rides at the exact same second in 16 countries on June 18, all tying for the 2 billionth trip. Uber is bleeding $1 billion per year in order to compete against its rivals, but the company operates in 450 cities across the world right now.

 

Right now, Uber is valued at $62.5 billion - after it received a $1.15 billion leveraged loan that allows the company to enjoy the low interest rate, while keeping its venture capital backers happy that it's not diluting their equity.

Opera selling browser business to Chinese buyers for $600 million

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: 1 week, 5 days ago

Following a failed $1.2 billion takeover of Opera Software by a group of Chinese internet firms, the company has decided to instead attempt to sell off parts of its business to get around US government concerns over privacy.

 

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The new deal -- which is still pending approvals from authorities -- proposes $600 million for its browser business, performance and privacy apps division, technology licensing business, and its investment in Chinese joint venture nHorizon, which the group in question (Kunqi) has agreed to.

 

Opera will retain its advertising and marketing business, TV operations, and game-related apps.

Continue reading 'Opera selling browser business to Chinese buyers for $600 million' (full post)

Seagate to slash over 8000 jobs in the next 12 months

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 14, 2016 11:47 am

Seagate is the latest company to announce massive layoffs, with the HDD giant set to slash another 6500 jobs across its workforce in the US, Asia and EMEA regions.

 

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The new culling over at Seagate represents around 14% of its global workforce, which will join the 1600 people being let go as part of its restructuring plans announced last month. Seagate is set to save around $164 million from the layoffs, but it's also expected to lower its expenditures going into the future.

 

Seagate has also recently said it will be reducing its manufacturing capabilities, from around 55-60 million HDDs per quarter, to just 35-40 million per quarter. The company hasn't said how it will be reducing its manufacturing capabilities in detail, so we should expect to hear more news on that front in the near future.

Continue reading 'Seagate to slash over 8000 jobs in the next 12 months' (full post)

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