The highly-anticipated tablet computer is a smaller, cheaper version of the tech giant's popular iPad, and a fourth generation iPad.
Apple chief executive officer Tim Cook started off the event saying, ""We have some very fond memories here, and we're going to create a few more today."
But first, Apple senior vice president Phil Shiller took the stage to introduce a fourth generation iPad.
"It is a power house," Shiller said.
37 Photos Apple launches iPad Mini, new MacBook Pro View the Full Gallery »The fourth generation iPad features an A6X processor, 5 megapixeliSight camera, expanded LTE chipset, front-facing camera with FaceTime and 720p video capture, faster Wi-Fi, and Lightening connector. The new iPad is pricedat $499 for a 16 GB model, $629 for a 16 GB model with 4G LTE.
Shiller also introducedan iPad mini. The smaller iPad is 7.2 millimeters thick, 0.63 pounds, comes in white and slate black. The iPad mini's screen is 7.9-inches at 1,024 x768 display resolution.
Apple launched the original iPad in April 2010. The iPad has since dominated the 9-inch tablet market, with a reported 70 percent market share. Cook reported that there over 100 millioniPads have been sold.
The iPad mini starts at$329 for a 16GB Wi-Fionly model, $429 for a 32 GB model and$529 for a 64 GB model.The Wi-Fi only models will ship on Nov. 2. The iPad mini models with Wi-Fi and4G starts at $459 for 16GB, $559 for 32GB, and $659 for 64GB, and is available on Nov. 16.
Tuesday, 23 October 2012
$138.57 million net profit for LG Q3, keeps the positive trend going
SEOUL, Oct. 24, 2012 ?- LG Electronics (LG) today reported a solid third-quarter performance with the third consecutive quarter of positive net income and all four companies recording strong operating profits. Better-than-expected performance in the mobileand home appliance businesses helped offset a slight decline in overall year-over-year sales for the third quarter.
Third-quarter net profit ofKRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) showed significant improvements from the loss in the same period
Third-quarter net profit ofKRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) showed significant improvements from the loss in the same period
What is the future of BlackBerry as users embrace its rivals.
Way back in 1999, Research in Motion (RIM) revolutionised the mobile industry with BlackBerry products and services. In the corporate world, the smartphone is well known for its business-friendly messaging features, security, and reliability.
Over the years, the BlackBerry maker has experienced an exponential rise in adoption of its products.
This was clear before the company succumbed to the ripple effects of black days in its messaging service and challenges of stiff competition.
The BlackBerry subscriber base stands at 80 million globally. A substantial number of these people are loyal to older productsfrom RIM. The challenge lies ahead infuture products and how the company willadjust to trends in the smart world.
Currently, users are being lured by alternative gadgets. In the mid-range class of phones, the brand is battling with thousands of Android phones.
In the high-end category, BlackBerry faces competition from Samsung, Apple’siPhones, Nokia, and HTC.
Firms are allowing their staff to opt for their own desired brands unlike the tradition that saw BlackBerry dominate enterprise employee acquisitions.
Shrinking market share
As users switch to iPhones and Android phones, the trouble forRIM is a shrinking market share. In the recent quarterly results,the company sold 7.4 million BlackBerry smart-phones and 130,000 PlayBook tablets. The three-month period ending September saw it post a net loss of $235 million.
By selling a paltry number of tablets, the BlackBerry company seems to fall short of expectations from users. Apple andSamsung tablet sales are in millions of pieces monthly and this portrays how distant RIM is in the slate race. Besides, there is an un-avoidable competition from tablets from other device makers, especially from Asian countries.
One notable feature on BlackBerry phones that makes the gadget unique is messaging. The BlackBerry Messenger (BBM) is quite synonymous withmost BlackBerry users. In the smartphone world, the challenge for BBM lies in free-text messaging Apps.
WhatsApp was one thefirst alternatives to the messaging service offered by BlackBerry. It works perfectly on all platforms hence it’s readily available on Android, IOS, windowsphones and Nokia. TheApp has push notifications with free text, images and audiomessages.
There are several otherfree-text Apps that are a threat to the BlackBerry messaging service. Besides, Apples iMessage is more similar to the popular BlackBerry Messenger service. The iMessage service is a free text and multimedia service that only worksbetween IOS devices like iPhones and iPads.
750 million euro from bonds Nokia seeks to help power fightback
HELSINKI (Reuters) - Mobilephone maker Nokia plans to raise 750 million euros (£611.89 million) by issuing convertible bonds to bolster its cash position as it battles to claw back market share lost to Apple and Samsung.
Once the world's biggest mobile phone maker, the Finnish firm has fallen far behind Apple's iPhone and Samsung's Galaxy phones in the lucrative smartphone market, and is pinning its hopes for recovery on new models that go on sale next month.
With its net cash falling to 3.6billion euros in September from 4.2 billion in June, and its credit ratings cut to junk over the past year, analysts have said the company needs to show a turnaround in the next several months if it is to survive.
"It is a rather cheap way to get extra financing," said Evlianalyst Mikko Ervasti of the plan to issue convertible bonds, which are potentially most lucrative to investors when they are converted into shares several years afterthey are issued.
"They need buffers (and) their 2014 bond also requires financing," he added.
Nokia finished the third quarter with 3.8 billion eurosin interest-bearing liabilities, with 1.75 billion in bonds and loans maturing in 2014. The company also owns half of network equipment venture Nokia Siemens Networks, which finished thequarter with 1.4 billion eurosin liabilities.
The convertible bonds will be due in 2017 and will paya coupon between 4.25 percent and 5.00 percent. The initial price for conversion into ordinary shares is expected to be 28-33 percent above the average price of Nokia sharesbetween the launch and pricing of the offering.
At 0905 GMT, Nokia shares, which have been volatile in recent sessions, were down 5.1 percent at 2.05 euros.
LUMIA 510
Nokia's fortunes hinge on its top-of-the-range Lumia 820 and 920 models, which run on Microsoft's new Windows Phone 8 software, come in vivid colours, have high-resolution cameras, andwill hit the stores in November.
On Tuesday, the group unveiled the lower price Lumia 510, which is an update of the Lumia 610 butdoes not use the newest version of Windows software.The 510 has a larger screen and will be sold for around$199, excluding taxes and subsidies.
ING analysts welcomed the convertible bonds plan as reducing uncertainty aroundNokia's short-term debt maturities and bolstering its capital.
"It also shows that the company is taking the question marks around its credit quality seriously and iswilling to take the steps necessary to improve this," they said in a research note.
Nokia's five-year credit default swaps were trading around 2.8 percent tighter in early trading, signalling a reduction in the cost of insuring the company againstdefault.
The final terms of the convertible bonds, includingthe conversion price and maximum number of shares which may be issued upon conversion, will be announced later in the day. Trading in the bonds are due to start around October 26.
Once the world's biggest mobile phone maker, the Finnish firm has fallen far behind Apple's iPhone and Samsung's Galaxy phones in the lucrative smartphone market, and is pinning its hopes for recovery on new models that go on sale next month.
With its net cash falling to 3.6billion euros in September from 4.2 billion in June, and its credit ratings cut to junk over the past year, analysts have said the company needs to show a turnaround in the next several months if it is to survive.
"It is a rather cheap way to get extra financing," said Evlianalyst Mikko Ervasti of the plan to issue convertible bonds, which are potentially most lucrative to investors when they are converted into shares several years afterthey are issued.
"They need buffers (and) their 2014 bond also requires financing," he added.
Nokia finished the third quarter with 3.8 billion eurosin interest-bearing liabilities, with 1.75 billion in bonds and loans maturing in 2014. The company also owns half of network equipment venture Nokia Siemens Networks, which finished thequarter with 1.4 billion eurosin liabilities.
The convertible bonds will be due in 2017 and will paya coupon between 4.25 percent and 5.00 percent. The initial price for conversion into ordinary shares is expected to be 28-33 percent above the average price of Nokia sharesbetween the launch and pricing of the offering.
At 0905 GMT, Nokia shares, which have been volatile in recent sessions, were down 5.1 percent at 2.05 euros.
LUMIA 510
Nokia's fortunes hinge on its top-of-the-range Lumia 820 and 920 models, which run on Microsoft's new Windows Phone 8 software, come in vivid colours, have high-resolution cameras, andwill hit the stores in November.
On Tuesday, the group unveiled the lower price Lumia 510, which is an update of the Lumia 610 butdoes not use the newest version of Windows software.The 510 has a larger screen and will be sold for around$199, excluding taxes and subsidies.
ING analysts welcomed the convertible bonds plan as reducing uncertainty aroundNokia's short-term debt maturities and bolstering its capital.
"It also shows that the company is taking the question marks around its credit quality seriously and iswilling to take the steps necessary to improve this," they said in a research note.
Nokia's five-year credit default swaps were trading around 2.8 percent tighter in early trading, signalling a reduction in the cost of insuring the company againstdefault.
The final terms of the convertible bonds, includingthe conversion price and maximum number of shares which may be issued upon conversion, will be announced later in the day. Trading in the bonds are due to start around October 26.
Billionaire Ross Interested in Buying Spanish Bank Assets
Wilbur Ross , the billionaire who’s taken stakes in distressed U.S. and Europeanlenders, said he’s interested in Spanish banking assets as the country takes steps to resolve bad loans stemming from its real-estate bubble.
Ross’s WL Ross & Co., which holds about 10 percent of Bank of Ireland Plc. (BKIR) and teamed up with Richard Branson to buy part of Northern Rock Plc, is in talks “almost every week” with representatives of the large Spanish banks , he said in an interview in Abu Dhabi , without naming potential targets.
Ross’s WL Ross & Co., which holds about 10 percent of Bank of Ireland Plc. (BKIR) and teamed up with Richard Branson to buy part of Northern Rock Plc, is in talks “almost every week” with representatives of the large Spanish banks , he said in an interview in Abu Dhabi , without naming potential targets.
Employer Securities (ES)
Employer Securities An investment option offered by some retirement plans that generally consists of stock in the corporation sponsoring the plan for its employees
Equity Wash Restriction (EWR)
Equity Wash Restriction A provision in certain stable value or fixed income products under which transfers made from the stable value or fixed income product are required to be directed to an equity fund or other non-competing investment option of the plan for a stated period of time (usually 90 days) before those funds may be invested in any other plan-provided competing fixed income fund (such as amoney market fund)
Exchange-traded Fund (ETF)
Exchange-traded Fund (ETF) A type of investment company whose shares tradeon stock exchanges at prices determined by the market. Compare to Mutual Fund
Face Value (FV)
Face Value The amount a bond issuer is required to repay investors on the bond’s maturity date
Fixed Income Securities (FIS)
Fixed Income Securities Investments with specified payment dates and amounts,primarily bonds that pay interest. Front-end Load An upfront sales charge investors pay when they purchase mutual fund shares, generally used by the fund to compensate brokers. A front-end load reduces the amount available to purchase fund shares.
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