TweakTown NewsRefine News by Category:
Apple and Samsung have been at it for a while now, but it's beginning to heat up considerably. Both companies are now being ushered into a room together with their judge mediating settlement talks between the two popular companies.
Both Apple and Samsung, as well as their CEOs and chief counsels, are expected to meet up on the mornings of May 21 and 22 in a San Francisco court rather than the full trials' San Jose venue. Both sides will also have to produce statements by May 9 stating how likely they think their chances are of winning the trial.
But right now, there's absolutely no way one could guess which way this is going to go. Apple CEO Tim Cook has stated that he prefers to settle when he can, but still argues that companies should stop copying, implying that legal action might not stop without a promise of changes from GALAXY-branded maker, Samsung.
A regulatory filing Thursday shows that Fremont-based Corsair Components looks to raise $78 million dollars with an initial public offering (IPO). The company is looking to sell shares at $13 a share, with a range of $12 to $14. The filing with the Securities and Exchange Commission shows that the company intends to share 6 million shares during its IPO.
This SEC filing marks the first time that Corsair has specified a potential selling price for its shares. This has been a long time coming. Two years ago is when Corsair originally filed to become publicly traded. Its initial IPO filing in April 2010, Corsair estimated it would seek to raise $86 million.
According to the Mercury News:
During 2011, Corsair earned $19.4 million on sales of $455.2 million. In 2010, the company lost $10.2 million on sale. Compared to the year before, sales in 2011 jumped 20 percent. For the quarter that ended in March, Corsair earned $3.1 million on sales of $132.5 million. Compared to the year-ago quarter, profits fell 37 percent, while sales rose 23 percent, the company's SEC filing showed.
No date has been specified for when they would begin selling shares.
It's that time of year where many companies report their Q1 financial results, or if you're Nintendo, you report your entire fiscal year. Nintendo reports its finances only once a year (annually) as opposed to 4 times like most companies (quarterly). This report is the first time in 30 years that Nintendo has reported a loss.
A lot of this is due to the financial climate that is affecting everyone worldwide. Additionally, the gaming market has changed as of late, due to the availability of high quality, free, mobile games. The 3-way struggle between Microsoft, Nintendo, and Sony hasn't exactly helped the market either. While competition is good, it does cause companies to lower prices to compete, sometimes below cost.
In August, Nintendo was forced to cut the price of the 3DS by 40%. A cut that big is never good for the bottom line. Between the price cut, and a few popular new 3D games such as Mario Kart 7 and Super Mario 3D Land, they managed to sell 13.53 units last fiscal year. This time around they hope to sell 18.5 million.
Now, the financial results. Ninteno said it suffered a net loss of ¥43.20 billion in the fiscal year ending March 31st whereas last year they recorded a profit of ¥77.62 billion. Also, they recorded an operating loss of ¥37.32 billion with revenue dropping by 36% to ¥647.65 billion yen. They really are depending on a successful WiiU launch, which is expected later this year.
Apple's super-powered earnings call during the week has impressed the entire tech industry, but Topeka Capital Markets analyst Brian White has said that his target for Apple shares in the near future will be $1,111. Apple are poised to become the world's first trillion-dollar company when its share price hits $1,072.
With White throwing his dart toward a $1,111 per share estimate, he is predicting that Apple's market cap will hit $1 trillion sometime in 2013. Brian White has said:
Apple's performance once again demonstrated how quickly Apple fever is spreading around the world, and this trend continues to drive meaningful upside in the company's financial results. We believe the negative vibes that have held back the stock over the past couple of weeks will now be replaced with the fear of missing the next leg up in the stock price that we are forecasting will reach $1,111 over the next year.
Could they do it? Apple are unstoppable right now, you can't contest that. Right now, they are a smart device powerhouse.
Apple had an amazing, record-breaking quarter and tech sites across the world were grinning whilst posting this news. It was amazing, and huge. HTC also announced its own figures, but didn't get anywhere near the same press.
HTC reported a massive 70-percent drop in profits, taking in just $151.5 million during the quarter. The blame? HTC says its the iPhone 4S. HTC Chief Executive Peter Chou has specifically singled out the iPhone 4S for HTC's crappy financial results during an analyst call two days ago. Chou remained confident that HTC had better times ahead of them, but he was also razor sharp when saying that there's no chance HTC will see a return to the times when they took 50-percent of their revenue from the US. Chou adds:
A major challenge we faced last year was the big drop in sales in the U.S. because of competition from the iPhone 4S.
If we compare the $151.5 million HTC made in that quarter, to the smartphone they blame for their dismal drop in profits, the iPhone 4S, it's quite the kick in the teeth for HTC. Apple's iPhone 4S let Apple make over $11.6 billion during the same quarter. $151.5 million to $11.6 billion is quite the jump. HTC does have hope though, hope that their family of One smartphones will help turn the company around. Chou is also optimistic that China will help make up the lost revenue from the US.
Time for another update in the oh so fun battle that is Oracle vs Google. Today former Sun CEO Jonathan Schwartz took the stand as a witness for the defense and proceeded to dispute Oracle's claim and support Google's. He testified that Google did not need a license to use the Java APIs. Oracle contends that Google violated some of its patents around Java and its APIs when producing Android.
When questioned by the defense about whether Java APIs were considered proprietary code of Sun, he said "No. These are open APIs, and we wanted to bring in more people...we wanted to build the biggest tent and invite as many people as possible." His answers corroborated Eric Schmidt's in that what Google did was and is legal.
"My understanding is that what we were doing was permissible because of the sum of my experiences and interactions I had," Schmidt said. He added that he was "very comfortable that what we were doing was both legally correct and consistent" with the policies of Google and Sun.
Schwartz continued to reiterate that what Google did didn't violate any of Sun's policies or intellectual property. As long as a company didn't call their implementation Java, it was Schwartz's view that they could ship their version without any sort of licensing from Sun. It seems as though this testimony should deal a massive blow to Oracle's case, but it's hard to say how the jurors will see it.
Apple planning to build off-campus restaurant to stop competitors from overhearing staff conversations
In another attempt to further separate Apple from the rest of the world, Apple has just had a planning request approved to build a new off-campus cafeteria for employees. The idea behind this is to prevent competitors from overhearing those common conversations that often take place during lunch. This way employees can discuss secret projects without the fear of the idea being stolen.
The new facility will be 21,468 square feet and will be a short walk from Apple's headquarters. The cafeteria will provide cafes, meeting rooms, lounge areas and courtyard facilities. Apple's director of real estate spells out why the new building will be beneficial:
We like to provide a level of security so that people and employees can feel comfortable talking about their business, their research and whatever project they're engineering without fear of competition sort of overhearing their conversations. That is a real issue today in Cupertino because we've got other companies here in our same business.
Additionally, the current cafeteria at Apple's HQ isn't private. Visitors can eat there if they are signed in by an employee. The new restaurant won't have this problem since it will be strictly for Apple employees only. This new building is only a stop-gap measure until Apple gets its new 'Spaceship' HQ approved.
Another partial win comes for Motorola today as a judge sides with Motorola that Microsoft is infringing on 4 of the 5 alleged patents. The preliminary decision from US ITC Judge David Shaw sides with Motorola that 4 of Motorola's patents are being infringed upon by Microsoft's Xbox 360.
Two of the patents involve Wi-Fi, two cover H.264 video, and one describes communication between consoles and accessories (5,319,712, 5,357,571, 6,069,896, 6,980,596 and 7,162,094). Shaw found that one of the Wi-Fi patents isn't being infringed upon, but upheld the claims regarding the others.
His ruling will be gone over by a six-person committee similar to the Apple ruling that was reported yesterday. Motorola, here again, is trying to ban the selling of the Xbox 360 in the United States, and unlikely as it may be, it could happen. It is probably, however, just a way for Motorola to gain leverage with Microsoft.
"Motorola is demanding that Microsoft take its products off the market, or else remove their standards-based ability to play video and connect wirelessly. The only basis for these actions is that these products implement industry standards, on which Motorola claims patents. Yet when the industry adopted these standards, we all were counting on Motorola and every contributor to live up to their promises," Microsoft wrote at the time.
Good news everyone! Even with a somewhat bleak financial report for Q1 2012, AMD has managed to snag some market share back from rival chip giant Intel. While it may not be much, some more market share is better than nothing and should help the company financially going forward if this trend continues.
AMD's market share went from 18.2% to 19.1% whereas rival Intel's dropped from 81% down to 80.2%, according to Mercury Research. AMD remains strong in the desktop market where it has 43% of the market, which is the same as last year. "When you look on it as a quarterly basis, desktop has had some strength relative to mobile," said Dean McCarron, principal analyst at Mercury Research.
AMD's mobile segment saw a boost, however, as users opted for cheaper laptops, many of which contained AMD processors. "One of the things that is clear is that the market is adopting new technology faster than it used to. I would expect Ivy Bridge to ramp aggressively," McCarron said. AMD is behind Intel one generation, so keeping competitive isn't the easiest of tasks.
If you're sitting in a swish hotel lobby one day soon and a few men in suits walk in with a suitcase with a sticker on the side saying "Money Inside", and they're all wearing Intel Inside shirts or something to that effect, you've just witnessed a deal between Intel and Cray for $140 million.
Cray are handing over technological patents to Intel, where they'll receive $140 million in cash for them. The patents include hardware patents concerning interconnect technology that it used to link up multiple processors together to exchange data at high speed. Cray's shares jumped because of the news, with an increase of 24-percent to $8.75 in pre-trading, and are currently climing past $9.
Part of the deal includes around 80 of the 800 employees Cray has will be joining Intel. Cray CEO Peter Ungaro has said:
This agreement also dramatically strengthens our balance sheet and increases our options for further growth, profitability and creating shareholder value.