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Business, Financial & Legal Posts - Page 293

Nintendo president, Satora Iwata, takes 50% pay cut

Nintendo have been having a hard time with their Nintendo 3DS portable gaming console, it hasn't been selling well and is not seeing the sales they were expecting. Last week they dropped the price of the 3DS to drive more sales and the latest news on top of all of this is that Nintendo employees will also face some form of salary reduction.

 

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It's not just employees either, Satora Iwata, Nintendo's President will be accepting the same punishment as staff with his salary being reduced from £1.2 million to £600,000 a year. Other chiefs will take a 30-percent reduction to reduce overall costs. He said:

 

For cuts in fixed salaries, I'm taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut.

Apple to use some cash reserves finally and buy Hulu?

Reports are out saying that Apple are considering the purchase of popular online video service Hulu, according to "two people who weren't authorized to speak publicly." The two sources spoke with Bloomberg, calling the negotiations "early talks that may lead to an offer for Hulu."

 

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The acquisition of Hulu has been spinning around for days now, with a reported bidding war for the online video company. Hulu is said to be shopping itself around for potential acquirers after deciding not to go through with a $2 billion IPO. To sweeten the deal, there's a promise of five years of programming for Hulu's highest bidder, included is two years of exclusivity for the programming on Hulu, this includes programmes from Walt Disney Company, News Corp. and Comcast's NBC Universal.

Microsoft reports record fourth-quarter and full-year results

Another huge tech company has posted record profits and this time it's Microsoft. Microsoft have just announced a record fourth-quarter revenue of $17.37 billion for the quarter ended June 30, 2011 and 8-percent increase from the same period of the prior year. Operating income, net income and diluted earnings per share for the quarter were $6.17 billion, $5.87 billion and $0.69 per share, which represents increase of 4, 30 and 35-percent respectively when compared with the prior year period.

 

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For the fiscal year ended June 30, 2011, Microsoft reported record revenue of $69.94 billion, a 12-percent increase from last year. Operating income, net income and diluted earnings per share for the year were $27.16 billion, $23.15 billion and $2.69, which represented 13, 23 and 28-percent increases when compared to last year.

Continue reading 'Microsoft reports record fourth-quarter and full-year results' (full post)

Fake Apple Store found in China, yes, an entire FAKE STORE

They seriously can't be doing this for the LOLs, but a 27-year-old blogger "BirdAbroad" has posted on his blog about an Apple Store he found in China. It looks liked an Apple store, the winding staircase with a sitting area upstairs, employees wearing the blue t-shirts with the clunky Apple name tag around their necks. But this Apple store in Kunming is actually a complete rip-off. As BirdAbroad says "China warps your mind into believing anything is possible". He says that it is the best rip off store they've ever seen, but some things were out of place. The stairs were poorly made, walls were not painted properly.

 

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Even the sign itself, Apple never displays "Apple Store" on its signs, it just displays the gloriously delicious looking fruit symbol. The name tags on the staff did not actually list a name, just "staff" and an Apple logo. The funniest thing about this all is the employees actually think they're working directly for Apple. As the blogger took photos, multiple salespeople and security guys (plain clothed) outside came in and told him to stop. It was not allowed. Why wasn't it allowed? Their boss told them so. He did tell them that he was an American Apple employee visiting China checking out the local stores, this was the golden ticket.

Continue reading 'Fake Apple Store found in China, yes, an entire FAKE STORE' (full post)

Intel reports fifth consecutive quarter of record revenue, peers at Apple

The latest... intel is in, and it shows that Intel has had all business segments report double-digit revenue growth year-over-year. Intel had Non-GAAP results of, $13.1 billion in revenue which is up $2.3 billion, 22-percent year-over-year. Operating income saw a 6-percent year-over-year increase adding $221 million, bringing it up to $4.2 billion. Net income was $3.2 billion, up $290 million or 10-percent year-over-year.

 

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The acquisition of McAfee Inc and Infineon Wireless Solutions (now Intel Mobile Communications) contributed revenue of $1.0 billion in their first full-quarter of results. Gross margin say at 61-percent, consistant with Intel's expectations. R&D and MG&A spending was $3.9 billion, again, within Intel's expectations. Intel's tax rate was 25-percent, below their expectations of 29-percent. Intel also used $2.0 billion to repurchase 93 million shares of common stock.

 

For more in-depth details of Intel's quarterly results, take a look at them here.

Cisco to lay off up to 10,000 employees

Looking to tighten things up for fiscal 2012, networking mob Cisco is apparently closing in on a decision to lay off up to 10,000 of its employees; about 14% of its total workforce. Cisco feels this will allow them to cut down on unnecessary expenses while boosting productivity and of course, profit$.

 

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The need to lower its expenses comes after experiencing a notable loss in performance in several markets, also losing ground to competitors Juniper Networks and HP. Its consumer product units (Linksys) will potentially be the most affected by these layoffs.

 

The costs incurred in the fiscal fourth quarter with their workforce reconfiguration are said to be between $500 million and $1.1b, with up to 7000 pink slips sent out by the end of August and an additional 3000 offered early retirement packages.

Foxconn parent company spending $1.6b on Apple reseller stores in China

Word has begun circulating today that Hon Hai Precision Industry, which is the parent company of Foxconn, has made the decision to spend up super big on helping make Apple's products more popular in China and with easier after sales support than currently.

 

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No less than $1.6b is being used to set up 500 Apple Authorized Reseller stores throughout China via Hon Hai's major Chinese electronic chain, Cybermart International thanks to a recently obtained certification as an Apple reseller.

 

Given Apple's own prescence in China with regard to its Apple stores isn't all that plentiful (though that is said to improve throughout 2011 with twenty more official Apple Stores planned), these additional Cybermart Apple reseller stores should certainly help Apple in establishing itself as a far more recognized and popular entity in the country.

 

The first Cybermart Apple store has been marked on the map, opening in Tianjin in Northern China with a population of over 12 million people.

HTC set to assimilate S3 Graphics for $300 million

HTC has just announced it will acquire S3 Graphics from VIA Technologies and WTI Investment for a cool $300 million. The deal is expected to close by the end of the year and is currently waiting regulatory approval and would have HTC obtain all outstanding shares of S3 Graphics with the firm's intellectual property and associated patients. Although the patents will technically change hands, HTC will grant VIA free access to the IPs.

 

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VIA are set to receive $147 million and WTI will take $153 million. HTC has not said what they intend to do with S3 but most people believe HTC will use the portfolio of 235 patents as legal leverage against others in the smartphone market. S3 as recently as July 1 filed a patent infringement suit against Apple and an International Trade Commission Judge ruled in S3's favor, determining that Apple infringed on two patents involving image compression and data formats.

PayPal pass 100 million active accounts, predicts the death of wallets by 2015

PayPal have just announced they have more than 100 million active accounts. PayPal believe that consumers are giving up traditional payment methods in droves, systems such as cash and checks are instead using more modern methods as a form of payment. As more modern ways of payment are becoming the norm, PayPal want to deliver solutions that are better than what is on offer today.

 

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PayPal have acted out on this and have predicted that by 2015 digital currency will be excepted everywhere in the US, from your local store right up to the big chains like Walmart. More specifically, this means PayPal thinks that in just four, short years, that you will no longer need to carry a wallet. PayPal is actually quite confident in this remark, going as far as asking five of its Bay area employees to plunge into the world of a digital lifestyle and use only digital currency to pay for all of their purchases.

Continue reading 'PayPal pass 100 million active accounts, predicts the death of wallets by 2015' (full post)

Samsung files trade complaint, wants to block US imports of iPhone, iPod, iPad

And so it continues! Samsung have upped the ante on their legal dispute versus Apple over smartphone patents, filing a trade complaint that seeks to block US imports of the iPhone, iPod and iPad. Samsung claim that Apple are infringing on not just one, but five patents, according to a filing with the US International Trade Commission in Washington yesterday. The ITC has the power to halt the imports of products that are in violation of US patents.

 

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This new case adds to the on-going four cases that Samsung have in four countries, as both Samsung and Apple are fighting for the same mobile market, with both companies using the courts to try and get a sneak peek at the competing companies product. Samsung currently have lawsuits against Apple in Seoul, Tokyo, San Francisco and Mannheim, Germany.

 

The patents in question are related to ways to transmit multiple services over a wireless network; the format of data packets used for high-speed data transmission; integrating Web browsing into a phone; a way to store and play digital audio; and viewing digital documents using a touch-sensitive display, according to the complaint.

 

If the ITC does indeed take the case, a judge would hear arguments within a year and the case would look at being completed within the next 15 - 18 months.

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