As Sony Corp. scrambles to reassert its technological relevance, Chief Executive Howard Stringer is betting on a strategy for the electronics giant that focuses on adding online content to more of its gadgets.
Speaking at the first joint public appearance by Sony’s new management team since a shake-up in February, Mr. Stringer said the Japanese giant is “moving faster than we’ve ever moved” to meet parallel challenges.
Some of the biggest companies backing the Blu-ray format for high-definition movies are hedging their bets by introducing players that can also show Internet video, which is making surprising inroads in the home-entertainment market.
Samsung Electronics Co. said it will set up a joint venture to build a 7.5-generation liquid crystal display panel plant in Suzhou, China, that will cost about 2.6 trillion won ($2.25 billion).
Samsung Electronics Co.’s profits are on the rise again as its chip and display businesses recover from operating losses earlier this year. The turnaround recently helped push its market capitalization past Intel Corp.’s for the first time.
Until this summer, U.S. consumers interested in owning an Android-powered cellphone were limited to T-Mobile’s G1. But the Google operating system is appearing in a slew of new handsets by HTC, Samsung, LG and Motorola.
The specs for Samsung’s newest Android phone, the I5700 Galaxy Lite, leaked in an online video that made its way around the Web Tuesday.
SanDisk shares are coming under pressure this morning after Needham analyst Y. Edwin Mok cut his rating on the stock to Under Perform from Hold.
Mok writes in a research note that the downgrade reflects “early signs of weakness in the NAND flash memory sector that we believe will lead to lower prices.”
With the economy affecting all manner of consumer spending, it’s a little surprising to hear upbeat commentary from the flat-panel sector.
But according to Scott Birnbaum, vice president of Samsung’s LCD unit, its sales are benefiting from “vidification,” a term he uses to describe consumers trying to create a big-screen experience at home.
Intel’s antitrust troubles haven’t gotten as much attention as Microsoft’s, in large part because most evidence concerning the chip maker’s tactics remains locked up in confidential documents. But some new, unflattering details about one investigation are coming to light.
Wireless technology company InterDigital shares are heading lower in early trading after the company posted weaker-than-expected Q4 profits. The company’s profits of nine cents a share fell short of the Street’s expectation of 16 cents.
In October, Samsung withdrew a bid to acquire SanDisk. Some speculated that Toshiba would swoop in and rescue the company, but it didn’t happen. Today, SanDisk shares rallied due to the same rumors about Toshiba–analysts noted that Toshiba could no more afford the acquisition now than it could in in the fall.
To hear Microsoft CEO Steve Ballmer talk about Samsung Electronics’ new upgraded smartphone, T*Omnia, Korean consumers will soon get the mother of all smartphones on the planet.
SanDisk’ s stock is “too attractive to ignore,” says Goldman Sachs chip analyst James Covello. Since Samsung pulled its $26-a-share takeover, Covello estimates that the company’s IP is worth $6-$7 a share–which is still a compelling valuation, even with an overall bearish outlook. No surprise, then, that shares have gotten a boost today.
Worldwide mobile phone sales grew only five percent in the third quarter–a disappointing performance in the sector, and the lowest since 2002. Only Apple and Samsung stood out from the pack. It makes perfect sense that large screen TV sales would slump heading into a recession, but mobile phones? Maybe consumers are bored. Sales are expected to jump slightly during the holiday season.
Corning’s third-quarter results and fourth-quarter outlook appear to reinforce logic–in a recession, big screen TVs do not count as necessary luxuries. LED glass volume is projected to fall 10-20 percent in Q4–20-30 percent within Corning’s wholly owned glass business. CEO Wendell Weeks says the company plans to greatly reduce capital spending and development and engineering costs.
Seagate CEO Bill Watkins is feeling pretty good about the hard disk market. His Asian competitors–mostly Toshiba, Fujitsu and Samsung–are in bad shape, he says, and may have to work together in order to survive. External drive sales are doing well, but the solid-state drive market isn’t gaining the traction that was predicted. Could end up being good news for Seagate.
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