That’s not a typo in the title, that’s seventy billion dollars… with a “b”. Reuters is reporting that a group of private investors is looking to offload nearly $1 billion worth of shares they hold in social networking company Facebook. The price per share puts Facebook’s valuation at nearly $70 billion. “The current deal, which includes stock held by Facebook employees, is awaiting approval from top Facebook executives including Chief Executive Mark Zuckerberg and Chief Financial Officer David Ebersman,” writes Reuters. “The sellers have lowered their price after previously trying to offload shares at a price that valued the company at $90 billion, which would make Facebook more valuable than Time Warner Inc and News Corp combined.” Facebook declined to comment on the report. More →
Reuters is reporting that this quarters pedestrian earnings filed by electronics retailer RadioShack has something to do with the wireless industry. Citing RBC Capital analyst Scot Ciccarelli, the publication notes that “RadioShack gave up a lot of compensation from AT&T and Sprint to carry T-Mobile [equipment], and this partnership doesn’t appear to be panning out the way management expected.” The news comes nearly one year after RadioShack executive Jim Gooch stated that T-Mobile had “materially breached its contract” with the retailer. RadioShack has lowered its earnings estimates for fiscal year 2011 — analysts cite weak demand and stiff competition in the retail and online spaces as potential causes. More →
According to a report filed by Reuters, Apple will edge out Google in the race to provide users with a cloud music service. “Apple’s plans will allow iTunes customers to store their songs on a remote server, and then access them from wherever they have an Internet connection,” writes Reuters, citing two people familiar with Apple’s plans. The article goes on to cite a source familiar with Google’s cloud music plans, simply saying that the venture has stalled. “Apple has not told its music partners of when it intends to introduce its music locker,” the report continues. It has been widely rumored that Apple’s new North Carolina data center will be the bit-locker and heart of this new music venture. Apple declined Reuters request for comment. More →
Reuters is reporting that Apple, Inc. will ship its next generation iPhone — oft referred to as the iPhone 5 — this September. The publication cites three sources “with direct knowledge of the company’s supply chain” and adds that the updated iPhone will sport a “faster processor.” Reuters writes that Largan Precision Co Ltd will be responsible for the new device’s camera sensor, Wintek Corp for its touchscreen panel, and Foxconn Technology Co Ltd for case production. “The companies would begin production either in July or August before shipping components to Hon Hai Precision Industry Co Ltd, flagship of Foxconn Technology Group, for assembly,” the site’s sources state. Analysts and pundits have been utilizing supply-chain checks to try and determine when Apple’s next smartphone will hit store shelves. September of 2011 and January of 2012 have been the two most popular prognostications. The September timeline has been touted by RBC, Avian Securities and Concord Securities in subsequent, independent reports. More →
Reuters is reporting that Samsung Electronics has agreed to sell its hard drive business to Seagate Technology for $1.4 billion in cash and stock. The move is seen as two pronged: first, it will allow Samsung to exit an extremely competitive market and refocus its efforts on its successful memory-chip business. Secondly, it will allow Seagate to be more competitive with Western Digital — a company that has announced its intentions to purchase Hitachi’s hard-drive business for more than $4.3 billion. “The transactions and agreements significantly expand Seagate’s customer access in China and Southeast Asia,” reads a statement released by both companies. The deal will see Samsung become the second largest shareholder in Seagate — with a nearly 10% share worth over $687 million — and the assets should be transfered sometime in 2011. More →
According to a report filed by Reuters, Nokia’s future tablet products may be lacking in one area, Microsoft software. Speaking to a source familiar with the Finnish company’s plans, the publication writes that Nokia is weighing all options when it comes to tablets, and its now moot smartphone operating system — MeeGo — is a definite possibility. A recent patent filing found in the United States Patent and Trade Office’s database has reignited rumors that the mobile giant will be releasing a tablet in the near future. This February, Nokia announced that it would use Microsoft’s Windows Phone mobile operating systems on future, high-end smartphones. The company’s tablet plans are, however, still unknown. More →
Thanks to reports filed by two financial analysts, the Internet has been abuzz with rumors and speculation about an alleged delay to Apple’s two flagship products: the iPhone and iPad. Citing last minute design changes and supplier bottlenecks, the unrelated reports both concluded that the launches of the two iDevices would be pushed back several months. Apple’s stock is currently trading down nearly 2.5% on the news.
Enter Reuters. Adding a little ying to the bearish analysts’ yang, the publication is reporting that its sources indicate both delay rumors are simply “not true.” Citing people “familiar with the matter,” Reuters writes that both the iPad 2 and iPhone 5 should be delivered on time and as expected in the coming months.
It’s all hearsay at this point, but if Wall Street (and consumer) expectations are correct, we should see the iPad 2 unveiled in the next 30 to 45 days and a revamped iPhone sometime in June.
According to a report filed by Reuters, Finnish phone giant Nokia has ended the development of its first MeeGo smartphone; the article cites “two sources close to the company” as the origin of this information. Nokia’s first MeeGo handset has long been rumored to be the full-QWERTY N9 (pictured above). Industry analysts tapped by Reuters feel that the phone maker could still showoff another, unknown, unfinished MeeGo device at next week’s Mobile World Congress, but such an assertion is pure speculation.
Nokia has an event planned for this Friday, and rumors have been flying about the company potentially adopting the Windows Phone 7 operating system; Nokia’s new CEO, Stephen Elop, is a former Microsoft executive.
We’ll know more on Friday, but until then… hang on. It’s going to be a bumpy ride for Nokia. More →
Reuters is reporting that mobile giant Nokia will stop offering its free music downloads service — Ovi Music — to new handset purchasers. The service, which initially launched in 2008, has received a luke warm reception due to the restrictive DRM used by Nokia, more competitive music service options, and lack of carrier support. Customers who currently have a free music subscription will be able to use the service until their subscription runs out. Universal, EMI, Warner, and Sony had partnered with Nokia to bring the service to over 27 countries. More →
Reuters is reporting that the world’s largest OEM handset manufacturer Nokia has delayed the release of its E7 handset until early 2011. A Nokia spokesperson said that the move was to “ensure the best possible user experience” on the device. The E7 is a peta-band WCDMA handset that also has a quad-band GSM radio, 4-inch polarized AMOLED display, Wi-Fi b/g/n, Bluetooth 3.0, GPS, 16 GB of mass storage, 8 megapixel camera with 720p video recording and dual-LED flash, HMDI connector, and 1200 mAh battery.
2010 has been a tough year for Nokia smartphone releases. Hopefully, the company will come out swinging in 2011. More →
Reuters is reporting that AOL, Inc. is contemplating a breakup through “a complicated series of transactions” that could end in a merger with search giant Yahoo!. The publication is citing “sources close to the plans” and adds that “the latest discussions derive from plans contemplated in 2008 and 2009 before Time Warner spun off AOL to Time Warner shareholders.” Both AOL and Yahoo! declined to comment on the report when contacted by Reuters; AOL’s stock price rose slightly on the news. More →
Gentlemen, we are about to boldly go where BGR has never gone before. We are about to discuss that personal area between your belly button and knee caps, affectionately known as the: gonads, balls, dingle-berries, or nuts. Today, on our beloved technology blog, we’re talking testicles. Now, we know what you’re thinking: what? Hit the jump to hear us out. More →
Rejoice webOS faithful! Reuters is reporting that HP’s senior vice president, Eric Cador, has been quoted as saying, “You will see us coming early next year with new phones.” The part that made us all warm and tingly inside was when he said “phones” — plural. Mr. Cador reiterated the importance of the Palm acquisition and the hordes of intellectual property HP is now holding. Use said IP wisely Mr. Vice President, and bring on the hardware! More →