Cisco’s earnings and revenue grew in the latest quarter as demand for its computer networking equipment increased. But CEO John Chambers called the global economy “challenging and inconsistent” and the company said it is cutting about 4,000 jobs, or about 5 percent of its work force. Cisco’s revenue guidance for the current quarter was weaker […]
Starbucks to partner with Google on Wi-Fi upgrade
Starbucks says it’s reached a deal to partner with Google that will allow it to offer its customers dramatically faster Wi-Fi service. Financial terms were not disclosed. Starting in August, new U.S. company-operated Starbucks stores will begin to receive up to 10 times faster network and Wi-Fi speeds. And over the next 18 months, Starbucks will […]
Apple’s smartphone on slippery slope
Apple’s share of the global smartphone market fell during the second quarter to its lowest level in four years, according to data released Friday. Apple took 13.1 percent of the worldwide market, according to ABI Research, down from 16.6 percent a year ago. That’s the lowest level since the third quarter of 2009, two years […]
It takes a ‘war room’ to launch Netflix’s series
Netflix’s Internet video subscription service works around the clock, but it’s unusual for more than two dozen of the company’s engineers and top managers to be huddled in a conference room at 10:30 on a midsummer Wednesday evening. This is a special occasion. It’s near the end of a grueling day that will culminate in […]
Google unveils new Internet TV device
Google is betting consumers will pay slightly more for a sleeker, more powerful version of its Nexus 7 tablet as the Internet company escalates its rivalry with Apple and Amazon.com in technology’s key battleground — the mobile computing market. The fancier devices unveiled Wednesday in San Francisco will go on sale in the U.S next […]
AT&T revenue up, profit down as costs rise in 2Q
The surge in tablet usage, a trade-in promotion and a fee tacked onto bills helped boost AT&T’s wireless revenue for the latest quarter, but profits declined as costs surged, the company said Tuesday. AT&T’s coffers were drained by smartphone sales, which it subsidizes in the hope of making money back over the life of two-year […]
LG’s profit falls on weak TV demand, handset costs
LG Electronics’ latest quarterly report underlined challenges facing global electronics makers as weak TV demand and stiffer competition in smartphones undermine profit. The results Wednesday showed an 8 percent decline in April-June net profit to 155.5 billion won ($140 million) even as LG’s revenue rose 10 percent from a year earlier to 15.2 trillion won […]
Telefonica agrees to buy Germany’s E-Plus from KPN
Spain’s Telefonica has agreed to buy German mobile unit E-Plus from Dutch telecommunications company Royal KPN NV for 5 billion euros ($6.58 billion) plus shares, a deal that would create Germany’s biggest cellphone operator in terms of customers. The proposed deal announced Tuesday would bring together E-Plus, currently Germany’s No. 3 operator with 23.4 million […]
Cisco inks deal to buy Sourcefire for $2.37B
Cisco said Tuesday that it reached a deal to buy computer network security company Sourcefire for about $2.37 billion in cash. Under the terms of the agreement, Cisco will pay $76 cash for each of the Columbia, Md.-based company’s shares. The price represents a 29 percent premium over Sourcefire’s Monday closing stock price. Sourcefire shares […]
Apple buys startups to improve mobile maps
Apple has bought online mapping services HopStop and Locationary as part of its ongoing effort to create a more formidable alternative to Google’s navigation system. The acquisitions confirmed Friday give Apple Inc. more tools to round out the maps that it embeds in the mobile operating system running its iPhones and iPads. Apple relied on […]