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It was reported earlier that Nokia was in serious trouble with the Indian government over a tax evasion dispute of a jaw-dropping amount of $542 Million. As a result, the authorities raided the company's factories and offices in India. The matter is still pending in the court, but the situation escalated to a point where the company later threatened to pull its entire manufacturing business from India. In September 2013, Microsoft made a deal with Nokia to acquire the company.
Because of the tax evasion dispute that involves its factories in India, the company's planned sale to Microsoft would become complicated, according to WSJ. The report explained that that this complication involves a factory in Chennai which makes millions of mobiles per year and the deadline to complete this transaction should be completed by the end of Q1 2014. If the factory is not included during the transition, it may continue its operations as a "contract manufacturer" for Microsoft until the disputes are cleared. This step however would make it more complicated for Nokia.
When Lenovo purchased Motorola from Google in a deal worth $2.91 billion, it had the industry talking. But, those talks didn't seem to extend into LG boardrooms, with the South Korean giant not phased by the deal.
Head of Product with LG, Kim Jong Hoon, said: "There are many talks over Lenovo and Motorola in the media right now and how it affects LG, but internally, we aren't discussing much about it". One would think that LG would be scared of the deal, as it will make Lenovo quite the player in the market, but LG has plans of its own for 2014.
LG plans to get back its third place in the global smartphone market before the year is wrapped up, moving itself from position #4. LG has just launched the G Pro 2 smartphone which will help it get there, and we're sure it is working with Google on the Nexus 6 - which should be based off of the bigger G Pro 2 and its very delicious internal specs.
Back in August last year, we reported that Microsoft hired ex-Valve employee Jason Holtman as the head of its PC division - a position that Holtman has just left, six months into it.
The Verge talked with a Microsoft spokesperson who confirmed the news, adding that the software giant wishes him the best in the future. According to Holtman's LinkedIn profile, he left last month, but the news has only just reached the Internet. Holtman has confirmed the news through his Facebook page, where he said: "Last week I left Microsoft and said goodbye to my friends there. Now looking around for something interesting and fun-no end of that in video games!"
Who will become Dropbox's first Chief Operations Officer? If a report from the Wall Street Journal is correct, it could be Motorola CEO, Dennis Woodside.
Woodside will reportedly leave his post as CEO at Motorola for the COO position of the cloud storage giant. Things aren't set in stone right now, but it would definitely be an interesting move for Woodside.
A few days after we posted this, a Dropbox representative reached out to us, where Drew Houston, CEO of the cloud storage company, said: "We've long admired Dennis's leadership at Google and Motorola where he ran multi-billion dollar businesses and built amazing organizations around the world. We're so happy to welcome Dennis to our team -- I can't imagine a better person to help us bring Dropbox to global scale".
When Lenovo purchased Motorola Mobility from Google, it cost them $2.91 billion in stock and cash, but then Motorola posted a $384 billion operating loss for Q4 2013 - not good.
Well, Lenovo CEO, Yang Yuanqing, has said that he can quickly turn Motorola around within months - not years, like most have expected. He told Bloomberg: "In a few quarters we can turn around the business". He continued: "I am confident that from day 1 after closing, these businesses will quickly begin contributing to our performance and develop into pillars for long-term, sustainable growth".
They're definitely fighting words, but how will Lenovo pull it off? Well, the above plan should work - it shows why Lenovo acquired Motorola, and how it will realize growth from the deal, too. Lenovo plans to relaunch the Motorola brand in China, as well as emerging markets, where it will add entry-level handsets from Motorola to its growing list of options.
CNBC is reporting from multiple sources that Comcast will soon announce a deal to purchase Time Warner Cable in a deal worth $44.2 billion. There are 227.9 million Time Warner Cable shares outstanding, with the deal being calculated at a total of $44.2 billion.
Time Warner Cable stock hit $135.31, with the deal seeing TWC holders earning a nice 18% premium. Comcast will reportedly divest three million subscribers in order to fan down regulatory worries. CNBC's David Faber, the man behind the report, says: "Comcast deal for $TWC does not face ownership cap restrictions, but sure to get tough review from FCC. $CMCSA wants to avoid consent decree".
Earlier this week, I reported on Bitcoin exchange MT. Gox suspending all withdrawal transactions over a long-known bug that allows nefarious users to basically make incoming transactions appear as if they never completed. Today word has came down that another Bitcoin exchange, Bitstamp has also suspended withdrawal transactions, but this time the issue is not due to a software bug, but rather was the result of a Denial of Service Attack (DDOS).
Bitstamp is the largest of several exchanges used for trading Bitcoins, and actually trades a little higher than Mt. Gox on average, making it a big target for attacks like these. At the time of this writing, Bitcoins were trading for $656 each, $100 higher than Mt. Gox. No further information was given on the DDOS attack, or any clue as to where it originated from, but with Bitcoins becoming more popular by the day, we can expect to see these types of attacks begin showing up more frequently.
GoPro is unmistakably the largest action camera brand in the world, and the company is about to get a whole lot bigger. This morning GoPro filed plans for its initial public offering with the US securities and exchange commission, a step that begins is journey down the path to transitioning from private ownership to becoming publicly held.
The filing is a confidential process which makes it hard to determine how much the company plans on raising with the IPO, but during 2012, GoPro was valued at $2.5 billion based on an investment from Foxconn of $200 million for 5.88-percent of GoPro. Additionally in 2012, GoPro made more than $500 million in revenue in 2012, and estimates put the company at over $1 billion for 2013, which means that a valuation of $3.5 - $5.5 billion is not out of the question. With the company seemingly doubling year over year, I would not be surprised to see a number closer to $6 or $7 billion total for the IPO.
Bitcoin prices took another hit today when Mt. Gox announced that it would not be reinstating withdrawal transactions until it was confident that its transaction tracking system was completely secure and its customers were safe. The issues center around what Mt. Gox is calling "transaction malleability," a bug that allows nefarious users to make it appear as if a Bitcoin transaction never took place.
This fools the system into thinking that the original transaction never completed, and leads to the transaction taking place a second time. At the moment Mt. Gox says that the issue is being caused by software bugs, and that the bugs are not unique to Mt. Gox and any system that involves sending Bitcoins from one person to another coube be affected by the bug. Bitcoin prices have taken a big hit due to Mt. Gox suspending transactions and has dipped as low as $500 in the last 24 hours, and while the price is back up some, we expect it to continue to fluctuate until Mt. Gox gets all of the transaction bugs fixed.
Tech giant Google is now the No. 2 most valuable company in the United States, trailing behind fellow Bay Area rival Apple, with Exxon Mobil and Microsoft also in the mix. The Google Android mobile OS has become a major success for the Mountain View, California-based company, as Google bundles advertising services into the OS.
It was unsure how tech companies such as Google would begin to throw around its weight, though the companies are becoming integral in global initiatives. For example, Google has such a wide catalog of consumer and business services, and is able to serve a large number of consumers and business users.
It's not easy to remain at the top of the most valuable company list, but Google continues to push forward with software and hardware.