HTC’s stock was hit hard on Tuesday following news of Samsung’s imminent Galaxy S III announcement, which couldn’t have come at a worse time for the struggling Taiwan-based vendor. HTC’s record growth in early 2011 was stunted later in the year as strong competition from the likes of Apple and Samsung shifted attention from the vendor’s aging smartphone lineup. The company is now in the process of launching its new line of One-series smartphones including the One X and One S, however Samsung’s announcement will come just weeks after HTC’s international One-series roll-out began, posing a serious threat to the company’s first-half comeback. Read on for more. More →
Apple released its third-generation iPad on March 16th and I purchased mine one day later on the 17th. There were no lines at my local Best Buy when I went to buy the new model. In fact, there were still more than 100 new iPads in stock when I picked up my iPad more than 36 hours after it was released. The store was eerily quiet. It felt nothing like an Apple launch. More →
Credit Suisse estimates that annual global smartphones sales will surpass 1 billion units in 2014, Reuters reported on Thursday. Global sales are predicted to grow nearly 46% to 687.9 million units this year, and then to reach 1.05 billion units in 2014. The growth is said to be fueled by strong demand in China and the launch of cheaper low-end handsets. “We see robust growth for the smartphone market in China, which we think will account for 22 percent of global units by 2015,” Credit Suisse analysts including Kulbinder Garcha wrote in a note. The firm expects Apple to make large gains in an environment where the “success in smartphones will be impacted by success in PCs and tablets.” The Cupertino-based company is estimated to capture 23% of the market this year, and Samsung, Nokia and Huawei are each expected to gain share as well. More →
Google on Thursday reported its results for the first quarter, topping Wall Street’s estimates. The Internet giant managed earnings of $10.08 per share on $10.65 billion in revenue, beating analysts EPS estimates of $9.64 and $8.1 billion in sales. Net revenue came in at $8.14 billion after $2.51 billion in traffic acquisition costs, in line with estimates. In the same quarter a year earlier, Google posted an adjusted profit of $8.08 per share $6.5 billion in sales. The company also plans to create a new class of non-voting capital stock that effectively creates a 2-for-1 stock split. The new class C shares will be traded under a separate ticker. “Google had another great quarter with revenues up 24% year on year,” Google CEO Larry Page said in a statement. “We also saw tremendous momentum from the big bets we’ve made in products like Android, Chrome and YouTube. We are still at the very early stages of what technology can do to improve people’s lives and we have enormous opportunities ahead. It is a very exciting time to be at Google.” A letter from Google co-founders Larry Page and Sergey Brin explaining the decision to split the company’s stock follows below along with the Google’s earnings release. More →
The nation’s third largest carrier may be looking to offer the massive Samsung Galaxy Note smartphone/tablet hybrid. TechnoBufflo on Tuesday discovered an image of the “phablet” on Sprint’s website, likely foreshadowing things to come. Samsung’s Galaxy Note has been wildly successful for the South Korean vendor, which recently announced that global sales to end-users have topped 5 million units. The Galaxy Note features a dual-core Exynos processor clocked at 1.4GHz, 32GB of internal storage, 1GB of RAM, an 8-megapixel rear camera, Android 2.3 Gingerbread and a massive 5.3-inch Super AMOLED display. The handset has been exclusively available from AT&T since February. More →
Worldwide consumer tablet sales are forecasted to reach 118.9 million units in 2012, according to market research firm Gartner. The figure represents a 98% increase from 2011, when Gartner says 60 million media tablets were sold. The firm predicts Apple’s iPad will continue to be the dominant tablet and is projected to account for 61.4% of worldwide sales in 2012, despite the success of Amazon’s Kindle Fire and the arrival of Microsoft’s Windows 8 platform. Read on for more. More →
Nokia is in store for yet another rough quarter according to Canaccord Genuity analyst Mike Walkley. The struggling Finnish phone vendor posted a massive €954 million operating loss last quarter, and Walkley thinks the company’s first quarter of 2012 could disappoint again. “We are lowering our estimates ahead of Nokia’s Q1/12 earnings report as our checks indicate weak Symbian sales, seasonally soft feature phone sales, and a slow ramp in Windows smartphones,” the analyst wrote, reiterating a Hold rating on shares of Nokia stock and lowering his price target to $5. Read on for more. More →
Sony has revised its full-year earnings projections for the fiscal year ended March 31st to include a tax hit that will see the company report a record $6.4 billion loss. The net loss will be twice what the consumer electronics giant projected, and it marks Sony’s fourth consecutive annual loss. ”There have been several reasons for our poor results,” Sony CFO Masaru Kato told reporters at a briefing Tuesday morning. “We are aiming for a rebound and for this we have made management changes.” Kato cites poor demand and a strong yen among the causes for Sony’s poor results. Reports surfaced earlier this week stating that Sony plans to cut as many as 10,000 jobs in the coming years, or roughly 6% of its workforce, in an effort to cut costs. The company plans to reveal a new strategy on Thursday that CEO Kaz Hirai hopes will turn its struggling business around. More →
Research In Motion’s BlackBerry line remains the platform choice for nearly half a million federal workers, including President Barack Obama. While the company struggles with consumers and the enterprise market, sales of BlackBerry devices are growing within the U.S. Government, Bloomberg reported on Monday. “Compared to the enterprise over the last year and a half or so, the federal business on whole is up,” said Scott Totzke, who runs RIM’s U.S. government sales business. “The employee base is shrinking, so if we’re looking at a market with fewer employees and our install base is stable to slightly up, that would seem to indicate that we have an increasing market share.” RIM sold 400,000 BlackBerry devices to the federal government in the past year, and more existing clients upgraded to the newer BlackBerry 7 devices and added BlackBerry servers, Totzke said. He added that 40% of RIM’s government customers also upgraded to new devices in the past 12 months. Some agencies are changing their policies, however, and allowing workers to choose other smartphones, which may impact BlackBerry’s government market share moving forward. More →
Nokia’s first U.S. carrier-backed flagship smartphone to launch in years now occupies the top two spots on Amazon.com’s list of best-selling cell phones. The new Lumia 900 Windows Phone, which became available on April 8th, features a 1.4GHz processor, a 4.3-inch ClearBlack AMOLED display, compatibility with AT&T’s 4G LTE network and a sleek design that sets it apart from other full touchscreen handsets. Amazon’s charts listed the phone in the No.1 (black) and No.3 (cyan) spots during pre-sales, and now the cyan model has climbed one position to give Nokia first and second positions on the online retail giant’s list of best-selling phones. BGR reviewed the Nokia Lumia 900 last week and we called it Windows Phone’s best shot yet to gain ground against Android and Apple’s iPhone in the mass market. More →
Following a huge week that saw Apple’s stock climb above $630 amid a fresh round of analyst upgrades, one analyst isn’t sold on the notion that smooth sailing is assured in the immediate future for the world’s most valuable company. BTIG Research analyst Walter Piecyk thinks Apple is set to report blowout earnings for the second fiscal quarter — he sees Apple earning $10.75 per share on sales of $40 billion in the quarter, versus Wall Street’s consensus of $9.81 and $36 billion — but he downgraded Apple’s stock to Neutral from Buy, noting that it’s time for investors to “take a breather.” Read on for more. More →
Samsung Electronics on Friday reported unaudited earnings results for the first calendar quarter of 2012. Following a record holiday quarter that saw the company pull in a profit of 5.3 trillion Korean won on sales of 47 trillion won, Samsung expects to report an operating profit of 5.8 trillion won — nearly twice its profit the first quarter last year — and revenue of approximately 45 trillion won. Samsung’s Galaxy S II smartphones are still among carriers’ best-selling smartphones in the United States, and the South Korea-based consumer electronics giant recently announced that sales of its massive Galaxy Note “phablet” topped 5 million units.
HTC on Friday reported unaudited earnings for the first quarter, revealing an extremely rocky start to the new year. The company warned that its first quarter results would see decline as the Taiwan-based vendor prepared to launch its new flagship smartphones, and preliminary numbers are in line with HTC’s earlier forecast. Revenue of NT$67.8 billion in the first quarter is down 35% from the same period last year, and HTC posted an after-tax profit of just NT$4.7 billion, down 70% year-on-year. HTC hopes business will pick up significantly as its new flagship smartphones, the One X and One S, begin to launch in various regions abroad. In the United States, the One X will launch on AT&T this month and before the end of June on Sprint as the HTC EVO 4G LTE. The HTC One S will be released in April on T-Mobile.