News Archives
Intel reports that its profits dropped by 90 percent during the last three months of 08. Previously Intel reported its quarterly profit as $2.3 billion that dropped to $234 million during in the last three months of 08. According to the chip maker, low consumer spending for PCs is the biggest factor in this connection.
Intel is known as the world’s fourth biggest chip maker and the firm has given warning earlier this month about the 23% ($8.2bn) slump in the sales.
Intel has forecast meager $7bn sales for the 1Q of 09. According to some market analysts, because of economic gloom, domestic users have developed a habit of thinking twice before making a purchase of new PC.
LG and Apple have signed a deal under which LG will supply displays for different Apple products including the MacBook Air.
To secure the supply of these LCD displays to Apple, the deal has been signed for five years. According to a report, LG will receive $500m as down payment for this deal, as it has been disclosed by LG in a Korea Exchange filing. According to some experts, these two companies can’t be considered as strangers for each other as some estimates show that LG is already providing nearly 70% of flat-panel displays from Apple. Read the rest of this entry
Games Studio chief Mike Griffith says that the time is not far when video gaming will eclipse all other media. This bold call was made by games studio boss while addressing at the CES.
Griffith said that the users’ interest was declining in almost every form of entertainment, while this interest is on increase in video gaming.
“With better technology, more interactivity and social gaming, gaming would soon be dominating the entertainment landscape in the coming times we can observe that TV, recorded music and movies all are contracting and stagnating sectors of entertainment.” Griffith added.
On Monday, Microsoft told, by the end of 2008, the sale of Microsoft’s Xbox 360’s sale rose up to 28 million video game consoles. Aaron Greenberg, Xbox 360 product management director, Microsoft Corp, said, 2008 “was our biggest year ever in Xbox history”.
Despite of the global economical recession, the rise in the sale of an entertainment product signifies its success and uprising demand. During these times, purchasing power has also been greatly affected. Many companies are sending large of their employees to homes. Read the rest of this entry
The world over financial recession has turned the world upside down. Many big fishes are getting caught in the recession nest. Motorola seems to be one of them as it is cutting down jobs on a large scale.
On Tuesday, Motorola Inc. announced here in San Francisco, that in the 4th quarter, it will lay off 400 more employees. The original plan was to lay off 1500 employees in the 4th quarter, which has been changed to an increment of 400, and now instead of 1500, 1900 employees will have to go home.
According to reports this change has occurred because of increased charges. The total of 3000 will remain constant. These jobs will be cut down from the handset department. Reason thereby, the revenue of handset department dropped to $3.1 billion during the last quarter, which is a hell of a loss of 31 percent. Moreover, the department’s operating loss rouse up from $248 million to $840 millions. Read the rest of this entry
