Total profits of LG for 2014 have increased by two-fold due to an increase in demand for its televisions and the flagship LG G3. While the South Korean manufacturer saw an increase of 24 percent in smartphone sales compared to the previous year, the company recorded an overall loss in the last quarter after it […]
A $10 billion pretax loss is expected by AT&T in the fourth quarter due to its abandonment of some copper assets and the longer lifespan of its former employees. The loss of the mobile service provider includes a $7.9 billion charge due to an updated mortality assumption, which indicates changes in the post-employment and pension […]
Stocks of the videogame maker, Kabam, were sold by early investors and employees for the second instance in less than two years. The San Francisco-based company gave the go signal even as it did not profit from the sale. The company, which has a current value of over $1 billion, is famous for games like […]
Trading at Bitstamp, a European bitcoin exchange, was suspended after one storage wallet was compromised recently. The trading site issued a warning to users against depositing in addresses that were issued previously. It also revealed that only a small number of its customers are kept on their online system. It added that the compromised virtual […]
With the $1.1 billion that Xiaomi raised in venture capital, the company currently has a valuation of $45 billion, according to a Facebook post by the president and co-founder of the company, Bin Lin. The rapid ascent of the Chinese smartphone manufacturer was highlighted with the financing it acquired recently. Due to this, it became […]
The Alibaba Group has spent around $161 million in the removal of counterfeit items from its e-commerce listing. The e-commerce giant based in China made the announcement recently with more than 90 million listed items removed from its sites. The cleansing was implemented by the company from January 2013 until November 2014. The announcement may […]
A disclosure at the Shenzhen Stock Exchange revealed that even though the earnings of Xiaomi reached $4.3 billion last year, its net profit only amounted to $56 million. This figure indicates that the third-largest smartphone manufacturer in the world has an operating margin of only 1.8 percent. This pales on comparison to the 18.7 percent […]
Amazon will continue to take risks despite the unpopularity of the Amazon Fire Phone. The first smartphone of the company was a bust when it was initially offered in the market. This was revealed recently by Jeff Bezos, CEO of the company. Bezos made the revelation during the Ignition conference of Business Insider. He defended […]
The $450 million settlement Apple has to pay for the role it played in a conspiracy to fix the prices of e-books was approved recently by a New York federal judge. The settlement was called fair and reasonable by Manhattan US District Court Judge Denise Cote. The settlement compels the software giant to pay around […]
BlackBerry CEO John Chen revealed that the company has gone through tough times and it aims to look at its growth. Chen hyped the success of the first phase of the two-year turnaround plan of the company through asset sales and reduction of costs. He also expressed his confidence in the second phase of the […]
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