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Reuters is reporting that Hon Hai Precision Technology otherwise known as Foxconn to us westerners, saw a 19% drop in sales during the first quarter of 2013. Analysts are attributing the vanishing sales to a decline in demand for the Apple iPhone.
Foxconn sales dipped to $26.96 billion in the first quarter, which is down from nearly $33 billion in Q4 of 2012, and $33.3 billion in the same quarter the previous year. KGI Securities analyst Ming-chi Kuo says that this decline is not surprising as first quarter reports always look worse than Q4 reports that have holiday sales included.
Kuo went on to say that the real telling figure is that Foxconn's year to year revenue is in the decline and that "shows that Hon Hai's revenue depends too much on Apple, and iPhone orders corrected more than expected." Apple shareholders do not appear to seem to be very concerned with this news as their stock remained flat after the Foxconn report was released.
It looks like the problems between LG and Samsung and OLED technology isn't being handled with poise and rationality, with Bloomberg reporting that the Seoul Metropolitan Police investigators have entered the Samsung Display HQ in Asan, looking for evidence of LG partners leaking secrets in their OLED technology.
A Samsung spokesperson has denied any involvement, with an LG spokesperson saying that the police made the allegation themselves. Samsung and LG will continue this battle, with it hopefully ending on a nice note.
Three LulzSec hackers have pleaded guilty for cyberattacks against various UK- and US-based websites, reports The Guardian. The three UK-based hackers - Ryan Ackroyd, 26; Jake Davis, 20; and Mustafa Al-Bassam, 18 - admitted to hacking Sony, News International and the UK's National Health Service.
The LulzSec hackers are set to receive their sentences on May 14, with another LulzSec hacker, Ryan Cleary, who pleaded guilty to hacking into websites for the Pentagon, the CIA, the NHS, News International, PBS, Sony, Nintendo, and the 20th Century Film studio joining them on the day.
There have been various crowd funded websites talked about over the last year or so, with Kickstarter being the most popular of all. Growth in 2012 has been stellar, with sites like Kickstarter and Indiegogo becoming massive sources of financing and independent business.
There have been a total of $2.66 billion in projects backed, which is a huge 81% increase over 2011's crowdfunding of $1.47 billion. Most of the money came from the United States, of which US-based consumers invested $1.6 billion in various projects, which is a 105% increase over 2011.
Apple may be lying on the street, bleeding from their various wounds to their stock prices, but this hasn't stopped iPhone's from selling like iHotcakes. According to Canaccord Genuity analyst, Mike Walkley, Apple have sold more iPhone's than expected during the March quarter.
Walkley has now adjusted his full-year EPS estimates to $43.86 from $43.59, and sees Apple selling 37 million iPhone's in the March quarter, up from his previous estimate of 34.5 million.ii
Come this time next year, support is going to end for Windows XP and a few other pieces of software from Microsoft. The other software joining it is Internet Explorer 6 on Windows XP, Office 2003 and Exchange 2003, these programs will lose their extended support on April 8, 2014.
Exchange Server 2010 Service Pack 2 will end its support on the same day, but with newer Service Packs, it will continue to be supported. The big issue here is that roughly 38% of people on the Internet are still using Windows XP. Not all of these users will jump over to a new OS in the next year, so we should see a large portion of the Internet continue to get slapped with malware.
I think we'll see Microsoft crumble under pressure and extend the support for Windows XP, unless they were to suddenly have surge of old consumers upgrading to new PCs or operating systems, which is doubtful with the way Windows 8 is performing.
Google have enjoyed their fair share of antitrust accusations in Europe, but now the New York Times is reporting that new anti-competitive allegations have been levied against Android. This new complaint was filed by Fairsearch, whose members include people from Microsoft and Nokia among other companies.
The group are claiming that Google are using Android as a way to push consumers into using Google's apps instead competitors' software. Fairsearch are pushing the fact that Google forces OEMs who use Android to place apps like YouTube and Gmail into hot places on the desktop. This is just the beginning of yet another antitrust lawsuit, so we should see Google respond shortly.
A California court has ruled that it's illegal for drivers to check mapping applications on a smartphone while driving. This does not preclude drivers from using navigation systems that are built in to a car. This ruling comes after a driver argued he was using a phone for directions rather than texting or talking.
According to vehicle code 23123, drivers are not allowed to use a smartphone while driving. The ruling states:
This case requires us to determine whether using a wireless phone solely for its map application function while driving violates Vehicle Codesection 23123. We hold that it does.
Our review of the statute's plain language leads us to conclude that the primary evil sought to be avoided is the distraction the driver faces when using his or her hands to operate the phone. That distraction would be present whether the wireless telephone was being used as a telephone, a GPS navigator, a clock or a device for sending and receiving text messages and emails.
Drivers are still able to use in car navigation systems. Drivers are also able to use voice controlled systems, so this means iPhone users can use Siri to get directions.
News Corp, owner of the FOX network, has threatened to start charging for the network (i.e. take it to cable-only) if Aereo prevails in its current lawsuit. News Corp, along with numerous different TV networks, sued Aereo over their renting of Internet-connected TV antennas.
The networks allege that this is an unlawful rebroadcasting of their content. The courts, however, ruled that it was legal because Aereo uses one antenna per viewer. News Corp's COO Chase Carey has threatened to move FOX to a subscription model if Aereo wins in court:
We need to be able to be fairly compensated for our content. This is not an ideal path we look to pursue, but we can't sit idly by and let an entity steal our signal. We will move to a subscription model if that's our only recourse.
Virginia Lam, a spokeswoman for Aereo, e-mailed the following statement:
It's disappointing to hear that Fox believes that consumers should not be permitted to use an antenna to access free-to-air broadcast television.
The Consumerist, a website dedicated to customers fighting back against companies, hosts a yearly competition to pick the worst company in America. The tournament is ran much like the March Madness basketball tournament with two companies being placed head-to-head and voted on for worst company in America.
64 companies started and we're down to the final two: Electronic Arts and Bank of America. Interestingly, this is the same way the tournament ended last year. EA garnered 64 percent of the popular last year and could end up winning the Golden Poo award again this year.
We've covered the failed SimCity launch in detail, so if you feel EA deserves the title "Worst Company in America," you can head over to the Consumerist's website and cast a ballot up until 9p.m. PT tonight.