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The title doesn't have a typo; The Provo Municipal Council voted Tuesday in a unanimous decision to allow Google to acquire the iProvo fiber network for a total price of $1. Not only is Google getting a steal on the fiber network, the city has agreed to pay approximately $722,000 for equipment to use the gigabit network for government services and $500,000 to determine the exact locations of the buried fiber cables.
Google will, in exchange, take ownership and control of the existing fiber network. They will provide free 5Mbps/1Mbps connections to all of Provo's residents for at least seven years. Additionally, Google will provide free gigabit connections to 25 different public institutions.
Provo, Utah will be the third Google Fiber city. "It gets back to our origins as a company...our customers cared about speed," said Google's director of community affairs.
Sprint sells 1.5 million iPhone's in Q1, loses one million customers and posts a $643 million net loss
The US' third largest carrier has just posted its first quarter financial report and things are not looking very good. The company posted a positive operating revenue of $29 million, but that is about all the good news there is.
Sprint says that it sold five million smartphones in Q1, which includes 1.5 million Apple iPhone's. Despite these high sales numbers, the company reported an overall net loss of $643 million, on total revenue of $8.79 billion. The company lost about one million subscribers, part of which were the direct result of Sprint beginning to shut down the Nextel network.
Subscribers to Sprint should not worry too much, though. The company is continuing to invest in infrastructure and has rolled out its LTE network in over 88 cities now, 30 of which were launched in Q1. The company says that it plans to continue that roll-out to another 170+ cities in the coming months.
Things are looking pretty middle of the road for gaming giant Nintendo as the company just closed out its financial year with an operational loss, but saw gains in net income.
Nintendo is expected to announce an 18.7 billion dollar loss for the 2012 fiscal year that just ended March 31st. This will be the company's second yearly loss and the red margins can be attributed to weak sales numbers of the Wii U console. Nintendo's CEO Satoru Iwata has predicted the company will post a 100 billion-yen operating profit for the 2013 fiscal year.
"I don't think Nintendo can achieve 100 billion yen," said Yoshikazu Shimada, an analyst at Tachibana Securities Co. "It's hard for Nintendo to meet the target despite the weak yen's tailwind." Hideki Yasuda, a Tokyo-based analyst at Ace Securities Co. also criticized the CEO saying, "Iwata hasn't produced good results in recent years. He can't avoid being criticized."
US carrier AT&T have released their earnings for Q1 2013, which includes both their wireless and wireline businesses. Revenues were strong, with a total of $16.7 billion taken in for the three-month period, up 3.4% year-over-year.
$4.7 billion of operating income was recorded, a number that is up 4.1% year-over-year. AT&T took in an additional 296,000 postpaid net customers, with postpaid churn improved by 1.04%. 1.2 new million smartphone subscribers were added in the three-month period, with postpaid data ARPU up 18%.
Currently, AT&T cover 200 million POPs with their LTE network, which is running ahead of schedule. Before the end of the year, AT&T plan to reach 90% of their goal, which is to have 300 million POPs covered - a 50% increase. AT&T have also said that 60% of their customers have a 4G (which is HSPA+ or better) device, with over half of those being LTE-capable.
Apple may have had a great day at their earnings call earlier, but we have also reported that we shouldn't expect any new iDevices between now and Q4 of this year. Why? Well, maybe because "demand for iPhone and iPad screens weakened amid concerns that Apple was losing its luster in the mobile device market".
This is from Reuters, who reports that LG Display, who are an iPhone and iPad screen supplier, have posted a drop of 74% in quarterly earnings. With Apple devices accounting for around 30% of LG Display's overall revenues, their drop in earnings could at least be tied to the lackluster iPhone sales.
Could this be another reason we won't see another iPhone anytime soon? Have Apple needed to go back to the drawing board with the increased competition from Samsung and co? Maybe an iPhone 5S isn't enough to inject sales of the iPhone for Apple.
Apple just reported their Q2 2013 earnings, where they saw a hefty $9.5 billion in profits over $43.6 billion of revenue - they also sold bucket loads of iPhones and iPads, but how is their market over in China? Booming, that's how.
Apple CEO Tim Cook and CFO Peter Oppenheimer took some time from the earnings call to talk about the increasing market in China - where they were presented with a question about Apple's present, and future access in the country. Even with Apple not selling the iPhone on the biggest carrier in the country, the Cupertino iPhone maker claimed to have their "best quarter ever" regionally.
Chinese revenue for Apple was $8.8 billion, up 11% year-over-year. Sales of the iPad grew a huge 138% in the same time frame. Both the iPhone and iPad have seen record sell-through rates in stores throughout China. Apple maintain 11 stores in the country, a number that is set to double in the next two years.
Today was a big day for Apple as they released their second quarter financial results. Apple's stock has been in a free fall as of late and this quarter's earnings needed to be good for Apple to stop their stock from falling any further. The official numbers are in and Apple pulled in a quarterly revenue of $43.6 billion, up from $39.2 billion for the second quarter of last year.
While revenue was up, profit was down. Apple pulled in a net profit of $9.5 billion, down from $11.6 billion from the same quarter last year. Apple sold 37.4 million iPhones and 19.5 million iPads. During the same period last year, Apple sold 35.1 million iPhones and just 11.8 million iPads. Mac sales continue to be flat, with Apple selling just shy of 4 million units during the quarter.
Apple's stock price increased by roughly 5 percent during the conference call. It will be interesting to see how the stock fairs tomorrow during normal trading.
We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad. Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.
Apple's "antennagate" scandal has almost come to a close. Owners of iPhone 4 devices have started to receive their $15 check from Apple, their portion of the settlement fund. The checks are being issued to those owners who did not receive a free bumper for the defective iPhone 4.
The check must be cashed before the date listed, which appears to be 90 days out from the date of issue. For those who didn't submit a claim, you appear to be out of luck. If you miss cashing the check in time, you're also out of luck as Apple will not reissue the check.
The settlement was a total of $53 million, though lawyers got their hands on $16 million of it. The settlement found that Apple misrepresented and concealed material information about the iPhone 4, particularly the antenna and reception quality.
We've covered the legal issues with Aereo in a bit of detail. CBS has so far been unsuccessful in its attempts to stop Aereo from streaming the broadcast TV network over the Internet. CBS has now said that they intend to sue Aereo again, this time in Boston as the service launches on May 15.
The new threat came from Dana McClintock, executive vice president of communications for CBS. During a series of tweets between her, BTIG Research, and a Verge editor, McClintock was asked if CBS would sue in Boston or wait until the case in New York ended. The response was immediate and clear:
We will sue. Stealing our signal will be found to be illegal in Boston, just as it will be everywhere else.
It's interesting to note that CBS has so far been unsuccessful in its court challenges.
ARM has had a stellar Q1 2013, with pre-tax profits increasing by 44%, and revenues seeing an increase of 26% to $209.4 million since the same quarter of last year.
ARM is seeing this continued success thanks to their adoption of low-power chip designs, embracing smartphones (who wouldn't?!), mobile computing, digital TVs and wearable technology. Higher royalties per chip are also coming from their advanced technologies baked into their ARMv8, Mali and big.LITTLE products.
Over the course of the first quarter of this year, the company shipped 2.6 billion ARM-based chips, which is a huge 35% increase year-on-year, with embedded hardware up a nice 50% since Q1 2012. ARM's Mali products have exploded, up 500% on shipments versus the same quarter of last year.