Business News - part 43

Nintendo Puts Hope In Upcoming 3DS XL Widescreen, Wii U Launches

Nintendo Puts Hope In Upcoming 3DS XL Widescreen, Wii U Launches

BUSINESS

  • Q1 sales down 9.7% at 84.8 billion yen
  • 3DS sales top 1.86 million units, Wii sales at 710,000 units
  • 3DS XL due for release, Wii U to be released before Christmas

Nintendo posted a net loss of 17.2 billion yen ($221 million) for the first quarter ending June 2012 as the company continues to struggle with the strong yen and stiff competition.

The figures show an improvement on the same period last year, when Nintendo reported a loss of 25.5 billion yen, buoying hopes of a return to profit this year.

Read more »

Apple Growth Slows Due To Lower Product Prices, Lost Market Share In China

Apple Growth Slows Due To Lower Product Prices, Lost Market Share In China

BUSINESS

  • Apple net income and revenue slow to rate of 20% in 3Q, lowest growth in over 2 years
  • Apple sells 26 million iPhones, 17 million iPads from April to June
  • Apple faces tough competition from Samsung's Galaxy S3 and HTC's One X smartphones

Apple’s net income and revenue grew at a rate of around 20% in the third quarter of 2012, marking its lowest growth rate in over two years and underperforming against analyst earning expectations for only the second time in ten years.

In sales volume, with 26 million iPhones and 17 million iPads sold between April to June, Apple did moderately well this past quarter. While iPhone sales were at the low end of the expected range with an increase of 28%, iPad sales surged unexpectedly by 84%.

Read more »

Private Firms Partner To Buy US Cable Provider Suddenlink Communications

Private Firms Partner To Buy US Cable Provider Suddenlink Communications

BUSINESS

  • Suddenlink services 1.4 million customers in 6 states, offers world-class infrastructure
  • Other recent cable buyouts launched by Canadian cable provider Cogeco Cable, Time Warner Cable

Suddenlink Communications, the seventh-largest cable television provider in the United States, is to be purchased by British private equity firm BC Partners and the Canada Pension Plan Investment Board in a cash-and-debt deal for nearly $6.6 billion.

The current owners are Oaktree Capital Management, Goldman Sachs Capital Partners and Quadrangle.

Read more »

CNOOC Bids Over $15 Billion For Canadian Oil Producer Nexen In China's Biggest Overseas Energy Deal

CNOOC Bids Over $15 Billion For Canadian Oil Producer Nexen In China's Biggest Overseas Energy Deal

BUSINESS

  • Deal allows CNOOC to take over Nexen shale gas operations in British Colombia, oil sands projects in Alberta and overseas production/ exploration ventures
  • Current domestic oil production in China limited; CNOOC has only 9 years of reserves accumulated
  • Nexen deal to boost CNOOC reserve levels by 30%

Chinese state-run company CNOOC has agreed to a $15.1 billion deal to acquire Canadian oil producer Nexen in the biggest overseas energy buyout by a Chinese company.

CNOOC will take over Nexen's shale gas operations in British Colombia and its oil sands projects in Alberta as well as its production and exploration ventures in the North Sea, the Gulf of Mexico and off the west coast of Africa.

Read more »

Second Recall For 2013 Ford Escape

Second Recall For 2013 Ford Escape

BUSINESS

  • Ford recalls 11,500 model 2013 Ford Escapes due to faulty fuel line with fire risk
  • Second recall for Ford Escape in past month
  • Production of the Escape vehicle on track regardless of recalls

Ford Motor Company has launched a voluntary safety recall of its 2013 Ford Escape vehicles equipped with a 1.6-liter engine, which were still being manufactured up until July 11, 2012.

According to Ford, an estimated 11,500 model 2013 Ford Escapes were produced and sold in North America, with most of them present on the US market. The models equipped with a 2.0-liter or a 2.5-liter engine are unaffected.

Read more »

Heineken Aims to Branch Out In Asia With Bid For Singapore's Asia Pacific Breweries

Heineken Aims to Branch Out In Asia With Bid For Singapore's Asia Pacific Breweries

BUSINESS

  • Heineken holds 42% stake in Asia Pacific Breweries, seeks rest
  • Bids placed by Thai Beverage Co and Heineken; Japanese brewer Kirin Holdings yet to respond
  • Asia lucrative global beer market, largest market by volume

Dutch beer manufacturer Heineken NV has submitted a $4.1 billion bid to purchase Singapore's Asia Pacific Breweries, one of Asia’s largest brewers, in an effort to increase its presence on the continent.

Heineken offered to pay APB’s parent company Fraser & Neave $40 a share for its entire stake in APB; Heineken and F&N have been partners in Asia since 1931.

Read more »

Switch To 4G Costing Mobile Telecom Manufacturers Billions

Switch To 4G Costing Mobile Telecom Manufacturers Billions

BUSINESS

  • Telecoms worldwide losing money to upgrades and shrinking prices
  • 4G usage expected to increase over next five years
  • Telecoms may need to consolidate to survive

Mobile equipment manufacturers worldwide expected to see profit increase as more customers switch to smartphones, but the opposite has been true. As telecom operators switch to 4G, fourth generation networks designed to carry super-fast, high-capacity data and video, equipment manufacturers are forced to cut costs and lower their budgets.

Several factors are to blame, including low-cost Chinese manufacturers, technological advances driving prices down and mobile phone operators unable to convince customers to pay for higher usage and data when they can use free service such as Skype.

Read more »

PC Sales Suffer As Consumers Turn To Tablets, Smartphones

PC Sales Suffer As Consumers Turn To Tablets, Smartphones

BUSINESS

  • PC sales in US dropped 11%, worse than rest of world
  • Windows 8 may boost PC sales but benefits will not be seen before year end
  • Meanwhile, Apple iPad tablet sales up 151%

Sales for personal computers were down during the second quarter of 2012 as customers are increasingly attracted to smartphones and tablets, according to research from market analysts.

Reports from Gartner and IDC indicate that PC sales fell by 0.1% from 2011, down to 87.5 million units globally. In the United States, the drop was even more significant as sales dropped nearly 11% from the previous year to 15.9 million units. These recent declines mark the seventh-straight quarter of falling numbers.

Read more »

Target-Neiman Marcus US Retail Partnership Aims To Attract New Customers, Evolve Image

Target-Neiman Marcus US Retail Partnership Aims To Attract New Customers, Evolve Image

BUSINESS

  • Target and Neiman Marcus partner to offer 50-item holiday season collection from 24 well-known designers
  • Collection to be sold at both stores and online, expected to sell out quickly
  • Both retailers say their customers overlap and that they have been trying to work together for years

US retailers Target Corp. and Neiman Marcus are partnering to bring customers a limited edition, designer collection for the end-of-year holiday season in the hopes of attracting new consumers and evolving their images.

Beginning Dec. 1, both stores will sell a 50-item collection featuring products designed by 24 respected designers like Oscar de la Renta, Marc Jacobs and Band of Outsiders. The specific product list will be revealed in an advertising campaign that begins in November, and is said to include apparel and accessories for men, women and children as well home decor items, pet accessories, sporting goods and electronic accessories.

Read more »

Intel Invests In ASML To Develop New Chip-Making Technology

Intel Invests In ASML To Develop New Chip-Making Technology

BUSINESS

  • ASML wins $4.1 billion from Intel to fund research on EUV lithography and 450mm silicon wafers
  • New technologies expected to reduce manufacturing costs by up to 40%
  • Intel first major semiconductor maker to ink deal under ASML's customer investment program

Intel Corp is investing close to $4.1 billion in Dutch chip manufacturing company ASML to boost its research into next-generation semiconductor technology.

The deal serves to fund research to develop a new technology known as extreme ultraviolet (EUV) lithography that allows for greater processing power while reducing the size of the chip.

Read more »

Share

Follow

Browse our categories

Browse our archives

ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - quickly, in one place.