Samsung braces for a tough year, says it will step up patent defense against Apple

By on March 16, 2012 at 4:10 PM.

Samsung braces for a tough year, says it will step up patent defense against Apple

After numerous mobile lawsuits from Apple, Samsung CEO Choi Gee Sung explained that the company plans to be more aggressive in securing patents that can be used to defend itself, Bloomberg reported on Thursday. During the company’s annual shareholders meeting, Sung said that due to slow industry-wide growth and strong competition, the company was bracing for a tough year. “The electronics industry will enter a low-growth period,” he said. “Reorganization of the industry will gain speed and competition among global players will intensify.” Shareholders also approved the company’s plan to spin off its LCD division on April 1st. Samsung posted record revenue last year — thanks largely to its Galaxy smartphones — and looks to enhance its competitiveness in hardware, while strengthening new businesses including medical equipment in 2012. BGR exclusively reported last month that Samsung will launch its flagship Galaxy S III smartphone later this year with a 1080p high-definition display, a ceramic case and a quad-core 1.5GHz Exynos processor. More →

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Tim Cook: Apple has more cash than it needs

By on February 23, 2012 at 6:00 PM.

Tim Cook: Apple has more cash than it needs

During the company’s annual shareholders meeting on Thursday, CEO Tim Cook acknowledged that Apple has more money “than we need to run a company.” Apple’s board is currently engaged in “active discussions” about what to do with the $100 billion in cash it has on hand, hinting at the possibility of a dividend. “The board and management team are thinking about this very deeply,” Cook said. A dividend returns a portion of the company’s profit to shareholders, and the last time Apple paid one was in 1995 prior to the return of Steve Jobs. Investors have pushed the company to again pay a dividend, hoping it will boost Apple’s stock price by bringing in a new breed of investors, reports Bloomberg. “You can be assured we are working as hard as ever this year to deliver an incredible year and some products that will blow your mind,” Tim Cook also noted during the meeting. Apple is expected to release a new iPad next month, an HDTV this summer and a redesigned iPhone this fall. More →

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RIM agrees to consider splitting CEO, Chairman roles

By on June 30, 2011 at 6:45 PM.

RIM agrees to consider splitting CEO, Chairman roles

Research In Motion on Thursday said it would consider splitting its Chief Executive and Chairman roles ahead of its annual shareholder meeting next month. Jim Balsillie and Mike Lazaridis currently each occupy both roles, and the pair have been the targets of much criticism from shareholders, analysts and the media since RIM’s earnings call earlier this month. The company said in a statement that it would assemble a committee of independent directors to study the CEO and board roles, and then make recommendations. The news follows an anonymous plea made by a senior RIM executive that was published exclusively by BGR earlier on Thursday. RIM responded by stating that the company is “in a solid business and financial position to tackle the opportunities ahead,” and that it “is more committed than ever to serving its loyal customers and partners around the world.” RIM’s full press release follows below. More →

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Garmin to acquire Navigon

By on June 14, 2011 at 2:00 PM.

Garmin to acquire Navigon

On Tuesday Garmin announced that Navigon’s shareholders have signed an agreement for a Garmin subsidiary to purchase Germany-based Navigon. “This acquisition is a great complement to Garmin’s existing automotive and mobile business. Navigon has invested significantly in the European automotive OEM business, and we feel that we can rapidly expand our automotive OEM footprint and capabilities through this transaction,” said Cliff Pemble, Garmin’s president and COO. “With Navigon, we are also acquiring one of the top-selling navigation applications for the iPhone and Android platforms – something that we expect will help drive revenue for the combined company going forward. Combining Navigon’s and Garmin’s strength also improves our competitiveness and standing particularly in Europe.” Garmin said that Navigon will continue to operate as a subsidiary of Garmin and that the deal is still subject to regulatory approvals. Financial terms were not disclosed. Hit the jump for the full press release. More →

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Netflix reports subscriber growth, revenue spike in Q1 2011 earnings

By on April 26, 2011 at 5:59 AM.

Netflix reports subscriber growth, revenue spike in Q1 2011 earnings

Netflix released its fiscal first quarter 2011 earnings on Monday and, thanks to record amounts spent on marketing, the firm reported an increase in net customer additions and a spike in revenues. The video subscription service added 3.3 million domestic net customers during the quarter, a 94% increase year-over-year — that service now serves 23.6 million subscribers globally. Netflix reported revenues of $719 million, up 46% year-over-year, and a net income of $60 million, an 88% jump from the same period a year ago. The company said noted that it expects DVD shipments to decline and spending on streaming content to “increase substantially” in the second quarter and beyond. Hit the jump for Netflix’s letter to shareholders. More →

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