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Business, Financial & Legal Posts - Page 11

EA receives 77% of its revenue from online services and DLC

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Aug 3, 2015 10:13 am

EA has posted its latest revenue numbers, where the company is seeing a huge 77% of its revenue in Q1 2015 arriving from online video game services and add-ons, some of which is thanks to DLC.




Now that EA is making big business from digital distribution, the company can invest the money it used to put into manufacturing and shipping physical retail copies of games into other things. With its Q1 2015 revenue hitting $693 million, 77% of that is a massive chunk of money courtesy of digital goods. EA also noted a 32% rise in profits over the previous year, securing itself $442 million.


EA has some big games in its wings waiting for release, with Star Wars Battlefront to be released in November, with analysts expecting over 10 million sales.

CEO of failed MtGox bitcoin exchange arrested in Japan

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Aug 3, 2015 9:45 am

Japanese police arrested Mark Karpeles, the former CEO of the defunct MtGox bitcoin currency exchange, after the company infamously lost hundreds of millions of dollars of bitcoins more than one year ago.




The company filed for bankruptcy protection in February 2014, with 100,000 of its own bitcoins - and more than 750,000 customer bitcoins - mysteriously disappearing in a high-profile theft. Company officials eventually blamed a software security flaw. Those bitcoin totals were the equivalent of $27 million of company funds and $480 million of customer currency.


Around one month after its bankruptcy claim, MtGox reportedly found 200,000 missing bitcoins - about $116 million - located in a digital wallet from 2011. Japanese officials believe Karpeles knew about the missing bitcoins, and depositors weren't notified when the money was transferred again.

Continue reading 'CEO of failed MtGox bitcoin exchange arrested in Japan' (full post)

Despite number of users, is Apple Music shaping up to be a disaster?

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Aug 2, 2015 11:55 pm

Apple Music has successfully generated a lot of interest, but it's easy to find vocal critics willing to share some of the horror stories they've endured so far.




One longtime Apple "watcher" explained how he lost more than 4,000 songs after the app on his phone gave him complicated and confusing settings. After some tinkering, he was reportedly able to get most of the songs back. Tech analyst Ben Thompson believes Apple Music is something the company released to the public because executives may have thought it was necessary - with other users reporting it is underwhelming.


Of course, some of you responded that you've had no problems while testing the streaming music service. So, the jury is clearly still out as to whether or not Apple Music will be a major success, or end up being nothing more than a dud.

Continue reading 'Despite number of users, is Apple Music shaping up to be a disaster?' (full post)

Uber is now valued at $50 billion, receives funding from Microsoft

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Aug 2, 2015 2:22 pm

Uber has just raised another $1 billion, which has the ride sharing giant being worth $50 billion, reaching the milestone two years quicker than Facebook did.




The company has attracted all sorts of different investors in its latest funding round, with one of them being Microsoft. According to sources of Bloomberg, Microsoft reportedly backed Uber by around $100 million. There's no information on what Microsoft's interest is in Uber, but abck in June, Uber secured itself a slice of Bing's mapping technology, as well as around 100 employees from Microsoft.


Microsoft isn't the first company to invest into Uber, with Chinese internet giant Baidu throwing some money into the ring, with an investment that is said to be around $600 million. Amazon founder Jeff Bezos has also invested into the company, all the way back in 2011, as well as Google Ventures pledging $258 million in 2013.

Sharp pulls out of the TV business in the US after financial problems

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Aug 2, 2015 12:37 pm

Sharp's Aquos line of TVs might be popular amongst enthusiasts, but the company has been forced to pull out of the LCD TV business in the United States after various financial problems had Sharp's hands tied behind its back.




The company sold its Mexican factory for $23.7 million, along with the rights to its Sharp brand in both North and South America to Chinese TV maker Hisense. Over the last quarter, Sharp lost $274 million, while over the last four years the Japanese giant has lost $13.4 billion. Sharp recently secured itself a $1.8 billion bailout, but company president Kozo Takahashi said: "we have to consider all options, including a spinoff of the LCD business. The LCD market is changing very rapidly".


Hisense has said: "The acquisition (of Sharp's brand) will help Hisense gain an upper hand in both North and South America". From here on out, Sharp's Aquos TV line up will continue to be sold in the US, but Hisense will be enjoying any profits made.

Uber will soon offer cars on lease to secure more drivers

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 31, 2015 4:35 am

Uber is scratching to keep up with itself and its continuing demand, so the ridesharing giant has just announced that it is opening up a car-leasing program to people wanting to be Uber drivers.




The company has worked with Banco Santander in the US previously, but with Uber going in-house for its car leasing, it's an interesting move. Uber hasn't provided anymore details on the new move, such as the financial side of things - you know, like how much the monthly repayment is for would be Uber drivers.


Re/code is reporting that Uber will start leasing cars in California, Georgia and Maryland, but it will quickly expand into other states, and most likely overseas.

LG posts a low $206.38 million in profit in second-quarter, blames TVs

By: Chris Smith | More News: Business, Financial & Legal | Posted: Jul 30, 2015 11:31 am

In a recently issued press release, LG Electronics announced a net profit of 206.38 million (226.4 billion KRW) over second-quarter 2015, in what it claims to be "an extremely challenging environment."




With the TV market being described as weak, revenue in this section amounted to 3.59 billion, with LG's mobile arena gathering 3.33 billion, marking a 1 percent increase from the same time last year. Home appliances and air solutions saw a larger 10 percent increase, reporting total sales amounting to 4.09 billion at an operating profit of 266 million.


LG claims that the current "sluggish global TV market" is particularly harsh in CIS, Latin America and Europe. This means that LG has posted a slight decline in operating profits in this area, seeing a drop of 222.52 million.

Continue reading 'LG posts a low $206.38 million in profit in second-quarter, blames TVs' (full post)

LG made a whopping 1.2 cents profit for each phone sold last quarter

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 30, 2015 4:34 am

LG may have shipped 8.1 million LTE smartphones in the latest quarter, its best results ever by the way, but the profits that the South Korean giant is making per handset isn't so great.




The company saw operating profits of just 1.2 cents per smartphone, but with the G4 only being on sale in the United States for two months, LG's next quarter should hopefully be a little better. Moving to LG's Home Entertainment division, the company said that global demand for LCD TVs was "soft" with revenues dropping 22.7% to $3.59 billion.

Report: Apple Music already has 10 million users testing the service

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Jul 29, 2015 11:30 am

Apple Music launched on June 30 and has quickly amassed more than 10 million subscribers, according to a report published by




The website spoke with anonymous sources inside a few major record labels, as Apple doesn't release those types of figures publicly. Each new member can enjoy a three-month free trial of the service, so it will be interesting to see how many subscribers stick around following the trial period.


The entry-level plan costs $9.99 per month, and a $14.99 per month family plan allows for up to six users to enjoy the streaming music service.

Continue reading 'Report: Apple Music already has 10 million users testing the service' (full post)

Microsoft's 'flagship' store in NYC opens its doors in the fall

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 29, 2015 5:37 am

While there are Microsoft stores around the United States, the company will be opening its 'flagship' store in New York City's Fifth Avenue later in the fall, according to the company.




Microsoft is most likely waiting for the lucrative holiday season before it opens up shop in Fifth Avenue, as there will be plenty of new Windows 10 devices and PCs to sell, as well as the new OS itself. Surface is continuing to sell well, but with Windows 10 launching today, Microsoft is in the perfect position to open up a new flagship store.

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