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Business, Financial & Legal Posts - Page 4

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."

 

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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.

 

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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 Hitsdailydouble.com.

 

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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.

 

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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.

David Guetta believes music piracy helps boost his concert attendance

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Jul 27, 2015 11:11 pm

Musicians have been vocal against Internet piracy - and sometimes against streaming music - but one person who has a more positive approach is David Guetta.

 

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The French DJ and producer had a more optimistic approach to how music piracy can actually help boost attendance in concerts: "I just want people to have access to my music. If there was no piracy, why can I sell out 20,000 people every [time] in Brazil?" Guetta said while speaking to BBC. "Is it because of how many records we sold in the shops? Of course not."

 

Guetta previously gave away music in an effort to stifle piracy, and even had a rather amusing outlook: "I wish that every person who's listening to my music would send me a little check. That would make me a very rich person, that would be wonderful. But at the same time this is impossible. You can't fight progress, so you better embrace it."

Continue reading 'David Guetta believes music piracy helps boost his concert attendance' (full post)

Pandora confident of its service, even with Apple Music on the scene

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Jul 26, 2015 4:25 pm

Pandora CEO Brian McAndrews said the recent launch of Apple Music hasn't had an immediate impact on its own business.

 

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Of course, Apple Music has been available for less than one month, and while the company works out a few issues, we'll have to wait and see what impact it may have on Pandora and Spotify. However, it looks like McAndrews had some strong words regarding the newest tradition to the streaming music market:

 

"In terms of the Apple Music, in Q2, of course, Apple Music launched at the end of June, so there was no impact," McAndrews noted during a recent earnings call. "Going forward, we feel really good about our trajectory and competitive position... there could be some listeners who experiment with the service and there could be some short-term impact, but we don't - we aren't seeing any meaningful listener impact at this time and we don't expect any long-term meaningful impact either."

Continue reading 'Pandora confident of its service, even with Apple Music on the scene' (full post)

FCC approves AT&T's acquisition of DirecTV, form huge pay-TV business

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Jul 24, 2015 9:19 pm

A whopping $49 billion acquisition of DirecTV by AT&T has been approved by the Federal Communications Commission (FCC), and the two companies will now create the largest pay-TV business in the United States.

 

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The deal allows AT&T to receive new revenue growth outside of its wireless service, while DirecTV desperately gets a broadband product that the company was unable to create for itself.

 

"The conditions imposed by the Commission address potential harms presented by the combination," according to the FCC. "The conditions also ensure that the benefits of the merger will be realized."

Continue reading 'FCC approves AT&T's acquisition of DirecTV, form huge pay-TV business' (full post)

LG invests $908 million on a new plant to build flexible OLED screens

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 24, 2015 6:36 am

LG has just invested a cool $908 million over the course of two years by starting construction on a new plant that will be making flexible OLED displays, according to a new regulatory filing.

 

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Flexible OLED displays will be a big thing going into the future, with flexible displays found in smartphones, monitors, TVs and in the next few years, many more devices. Think flexible OLED panels in VR headsets, wearables, and so much more. Right now, products with flexible displays are expensive because they cost more to produce. But with a near $1 billion investment from a company like LG, we should see the price of flexible OLED panels drop considerably over the next few years.

Lenovo has faith in PC market, especially with Windows 10 coming

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Jul 23, 2015 6:30 pm

The PC market has been all over the place in recent years, with vendors struggling to sell PCs and devices pre-loaded with Microsoft Windows 8. Chinese manufacturer Lenovo is the No. 1 largest PC manufacturer with around 20 percent of global market share, according to the IDC research group.

 

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However, Lenovo is aware that the PC market faces problems - with the company noting a Q2 7.5 percent year-over-year drop, while the PC market dropped almost 12 percent.

 

"We are starting to see a big consolidation in the market... we think that probably within the next 24 months, maybe four to five players will leave," said Gianfranco Lanci, COO at Lenovo, in a statement to CNBC.

Continue reading 'Lenovo has faith in PC market, especially with Windows 10 coming' (full post)

Silk Road drug dealer, turned witness, given less than three years

By: Michael Hatamoto | More News: Business, Financial & Legal | Posted: Jul 22, 2015 10:19 pm

Silk Road founder Ross Ulbricht was given two life sentences and a mix of three lesser sentences for his role in operating the underground drug website. The hammer has dropped for a different drug dealer on the Silk Road website, after a guilty plea late last year for drug conspiracy charges, leading to 2-1/2 years in prison.

 

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Michael Duch, a heroin dealer using the website under the alias "deezletime," will be given 21 months credit for time served. Although his attorney, Samuel Braverman, asked US District Judge Katherine Forrest to release his client to a drug rehabilitation center, that doesn't seem likely just yet.

 

Duch reportedly used Silk Road to purchase painkillers, and when his addiction spiraled out of control, began selling narcotics on the site.

Continue reading 'Silk Road drug dealer, turned witness, given less than three years' (full post)

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