By The Street, Contributor David Einhorn of hedge fund Greenlight Capital Management continues to hold an over $1 billion stake in (AAPL) as the long and short hedge fund braces for the prospect of a global market correction. …read more
Source: FULL ARTICLE at Forbes Latest
By Anders Bylund, The Motley Fool
Filed under: Investing
Apple shares have taken a beating lately, but the news hasn’t been all bad. Here’s a look at the four brightest moments of this sustained bear attack.
Apple shares jumped 4% on Oct. 22, helpfully marked “1” in the preceding chart. This was a drastic swing back from several days of bearish action, and perhaps a few short-sellers were taking profits. It was also the day before a long-awaited Apple event, where the iPad Mini was to be unveiled. Investors boiled over with enthusiasm for the as-yet unseen product.
Three weeks later, Apple saw its largest positive move of the entire post-peak period. The company had no particular news to share, but investors focused on optimistic news around federal budget talks. Anything that conserves the American consumer’s disposable income would be good news for Apple, and the stock price had been driven down to a bargain-basement 25% discount from summer highs anyway. That was good enough for a massive 7.2% price jump, one beautiful Monday in November.
The stock closed out 2012 with a bang, jumping 4.4% on the year’s final trading day. Barron’s had just published an article on Apple’s rock-bottom valuation, and multiple outlets speculated that much of the autumnal Apple sales must have been tax-gain moves ahead of the dreaded fiscal cliff. Sell in December to avoid higher tax rates in January — it’s a reverse version of the well-known January Effect.
The final bounce in our rundown came on another slow news day. Apple was gearing up for the next week’s earnings report, and investors were hoping for fantastic holiday sales numbers. Fellow Fool Evan Niu, for one, chose this day to predict an earnings blowout. This story stock reacts to speculation like your molar nerves react to chewing on aluminum foil: There’s another 4.2% jump, dated Jan. 16.
In short, Apple’s swoon was balanced by deep-discount bargain hunting and some product-focused speculation. I think it’s fair to say that none of these arguments had any staying power, as the facts kept shooting down optimistic rumors and the price kept sliding lower.
Have we seen the peak of Apple’s share prices and market power? Maybe so.
There is a debate raging as to whether Apple remains a buy. The Motley Fool’s senior technology analyst and managing bureau chief, Eric Bleeker, is prepared to fill you in on both reasons to buy and reasons to sell Apple and what opportunities are left for the company (and your portfolio) going forward. To get instant access to his latest thinking on Apple, simply click here now.
Source: FULL ARTICLE at DailyFinance
By Anders Bylund, The Motley Fool
Filed under: Investing
Apple shares have taken a beating lately, sinking 38% since the start of October. Here’s a look at the four darkest moments of this sustained bear attack.
Let’s start at the beginning, with the entry marked “1” in the preceding chart.
Apple presented the iPad Mini on Oct. 23, as expected. But the company also introduced an updated iPad at the same time. The last iPad refresh was less than six months old at the time, and the accelerated product cycle raised eyebrows — and sent shares plunging 3.3% in a single day. As for the Mini, I was left wondering why the tablet was priced at such an awkward level. At $329 a pop, the iPad Mini cost 65% more than an Amazon.com Kindle Fire of the same size, and it was just an 18% discount to the much larger full-sized iPad.
In early December, market research firm IDC reported that Apple was losing market share in the tablet arena. Worries about the then-upcoming fiscal cliff already weighed on the world’s largest stock (in terms of market cap), and the sinking tablet share released it all as a 6.4% one-day price drop.
Apple’s first-quarter rolled around in January, and it confirmed the bearish arguments. iPhone sales turned out to be slower than analysts had expected, and there was a downright unhealthy shift from latest-and-greatest to older-and-cheaper handsets in this holiday quarter. Apple’s margins are under pressure, and its formerly unstoppable sales growth is slowing down. The iPad Mini undermined Apple’s average selling prices but didn’t appear to boost unit sales much. Shares fell a hair-raising 12.4% that day.
That brings us to the fourth and final stop on this whirlwind tour. The week before Apple’s next earnings report, audio-chip supplier Cirrus Logic scared the pants off many Cupertino investors with an earnings miss and very low top-line sales. Apple is Cirrus’ largest customer by far, and it was easy to connect the dots. Management blamed the miss on “a decreased forecast for a high volume product,” and Apple shares plunged another 5.5% overnight. When Apple’s report confirmed the bearish action again, the bad news had already been priced in. That’s why the stock didn’t sink even further this week.
Apple’s high-margin business model is falling apart at the seams, and I suddenly don’t feel particularly contrarian for having a thumbs-down CAPScall on Apple’s stock.
There is a debate raging as to whether Apple remains a buy. The Motley Fool’s senior technology analyst and managing bureau chief, Eric Bleeker, is prepared to fill you in on both reasons to buy and reasons to sell Apple and what opportunities are left for the company (and your portfolio) going forward. To get instant access to his latest thinking on Apple, simply click here now.
Source: FULL ARTICLE at DailyFinance
Filed under: JC Penney, Retail, Consumer Goods, Stocks
NEW YORK — The return of the old guard at J.C. Penney have sent shares higher this week, even with major U.S. indexes suffering one of the worst downturns this year.
J.C. Penney brought back former CEO Mike Ullman to lead the company last week and he has already rehired one of his former executives forced out under Ron Johnson.
Johnson, the former Apple Inc. (AAPL) executive, was ousted himself last week after a disastrous 17 months at the helm.
The familiar faces have received a positive response on Wall Street, which has driven the stock up nearly 4 percent this week even as the S&P 500 slumped 3 percent.
At least one analyst that follows the company sees a precedent for Ullman’s second act.
Citigroup’s Deborah Weinswig said that bringing back old-hands worked successfully for BJ’s Wholesale Club in 2007, when Herb Zarkin as put back in the CEO‘s chair.
Zarkin rehired three key members of his former team to run merchandising, marketing and store operations. Over the next 12 months, revenue at comparable stores rose 3.7 percent, compared with the modest 1.2 percent increase in the prior-year period.
One of Ullman’s first actions was to rehire Ken Mangone as executive vice president of product development, design and sourcing. He had left in December 2012. Nick Wooster, fashion blogger and a former executive at luxury stores such as Neiman Marcus who had taken on his role, is now out. Penney also announced this week that two other Johnson hires — Michael Kramer, chief operating officer, and Ken Walker, chief talent officer — are now gone.
Penney’s shares are still down 65 percent since early last year but investors appear to embrace an old familiarity.
Weinswig points out that Ullman had a deep bench that he could exploit.
“As of now, it’s a two-man band, but there are other former JCP executives available who could come to work for their former band leader,” Weinswig said.
Weinswig believes the merchandising, planning and allocation and store organization remains in good shape.
Liz Sweney, Penney’s chief merchandising officer and the head merchants in women’s, accessories, men’s and home were all with Penney during Ullman’s previous tenure. But she says the areas of marketing, finance, human resources and operations are lacking talent.
“We further suspect that there could be additional vacancies at lower levels of the organization, which JCP will need to fill,” Weinswig wrote. She says of utmost importance is finding a president or chief operating officer to serve as Ullman’s right hand man.
J.C. Penney Co. (JCP), based in Plano, Texas, is in a cash crunch and is exploring ways to bolster its cash reserves.
Johnson had planned to reinvent the company by getting rid of coupons, bringing in new brands and
From: http://www.dailyfinance.com/2013/04/20/mike-ullman-revive-penneys/
By GuruFocus, Contributor The $26 billion T Rowe Price Equity Income Fund has been managed by the firm’s Chief Investment Officer Brian Rogers since 1985. Since then the fund has gained 11% a year on average. Over the past 10 years the fund averaged 9% a year. Brian Rogers likes to invest in companies that are well-established and pay above-average dividends. As we can see from his recent purchase, he likes to buy companies that are traded at 52-week lows, too.
By MarketNewsVideo CH Robinson (CHRW) was downgraded by J.P. Morgan (JPM) from neutral to underweight as increased competition will impact earnings.
From: http://www.forbes.com/sites/marketnewsvideo/2013/04/16/analyst-moves-chrw-aapl/
By Tim Worstall, Contributor That’s the way the Wall Street Journal reads it anyway. Foxconn has started hiring again at its plants that make iPhones, therefore a new iPhone must be on the way: TAIPEI—Foxconn Technology Group has resumed hiring assembly-line workers in China after a postholiday freeze, in the latest sign that customer Apple Inc. AAPL is gearing up for production of a new iPhone. It seems a reasonable enough basis for the speculation.
Filed under: Technology, Mergers & Acquisitions, Internet, Stocks, Investing
MOUNTAIN VIEW, Calif. — Professional networking website LinkedIn is paying about $90 million to acquire Pulse, which makes an e-reader platform used on mobile devices.
More than 30 million people worldwide use Pulse’s e-reader applications on devices running both Apple Inc. (AAPL) and Google Inc.’s (GOOG) Android-based operating systems. Pulse, based in San Francisco, was founded in 2010 by Akshay Kothari and Ankit Gupta while they were students at Stanford University.
The deal, which is expected to close in the second quarter, is a combination of 90 percent stock and 10 percent cash.
Following the close, Pulse employees will join LinkedIn Corp. (LNKD) at its headquarters in Mountain View, Calif.
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From: http://www.dailyfinance.com/2013/04/12/linkedin-buys-pulse/
By GuruFocus, Contributor According to the GuruFocus list of 52-week lows, these stocks have reached their 52-week lows. …read more
Source: FULL ARTICLE at Forbes Latest
Filed under: Google, Microsoft, Internet, Consumer Issues, Mobile Technology
By JUERGEN BAETZ
BRUSSELS — Google is using unfair practices to cement its control over mobile Internet usage on smartphones, a group of companies led by Microsoft alleged in a European antitrust complaint Tuesday.
The “FairSearch” initiative of 17 companies — which includes Microsoft Corp. (MSFT), Nokia Corp. (NOK) and Oracle Corp. (ORCL) — claims Google is acting unfairly by giving away its Android operating system to mobile device companies on the condition that the U.S. online giant’s own software applications like YouTube and Google Maps are installed and prominently displayed.
“Google is using its Android mobile operating system as a Trojan horse to deceive partners, monopolize the mobile marketplace, and control consumer data,” said Thomas Vinje, the group’s Brussels-based lawyer.
Android operating systems have the largest share of the smartphone market worldwide, followed by Apple Inc.’s (AAPL) iOS platform with systems from Blackberry (BBRY), Microsoft and others far behind.
“Google’s predatory distribution of Android at below-cost makes it difficult for other providers of operating systems to recoup investments in competing with Google’s dominant mobile platform,” FairSearch said in a statement.
The European Commission, the 27-nation bloc’s executive arm and antitrust authority, is not obliged to take any action other than reply to the group’s complaint.
Google Inc. (GOOG) didn’t address the complaint’s charges in detail. “We continue to work cooperatively with the European Commission,” said Google spokesman Al Verney.
The U.S. company is already under investigation by Brussels for practices related to its dominance of online search and advertising markets.
That complaint, filed in 2010, alleges Google unfairly favors its own services in its Internet search results, which enjoy a near-monopoly in Europe. Google has proposed a list of remedies to address the Commission’s concerns to achieve a settlement. The Commission is currently examining the proposed changes.
In China, Google has already come under official scrutiny because of Android’s dominance of the mobile smartphone market there.
Several European data privacy regulators have also launched an investigation into Google’s practices, alleging the company is creating a data goldmine at the expense of unwitting users.
Last year, the company merged 60 separate privacy policies from around the world into one universal procedure. The European authorities complain that the new policy doesn’t allow users to figure out which information is kept, how it is combined by Google services or how long the company retains it.
The policy allows Google to combine data collected from one person as they use …read more
Source: FULL ARTICLE at DailyFinance
By Evan Niu, CFA, The Motley Fool
Filed under: Investing
After putting up an encouraging bounce back to $470 at the end of March, shares of Apple have promptly given back nearly all of those gains. The Mac maker dropped by as much as 1.5% on Friday, in part because of the disappointing jobs report that dragged down the broader market.
In the final hour of trading, shares tanked for no apparent reason to as low as $419.69 — just pennies away from tapping a fresh 52-week low. Shares promptly recovered just as quickly and inexplicably.
Will Apple hit a new low?
Never say never
Shares have mostly stayed range-bound for the past couple of months following the January earnings plunge, lacking any positive or negative catalysts to speak of. The most apparent positive catalyst that investors are anxiously awaiting remains the inevitable dividend boost, but all has stayed quiet on the cash front so far this year.
The biggest potentially negative catalyst on the horizon is the fiscal second-quarter earnings release that’s due out on April 23. The March quarter is a seasonally slow one for the iPhone maker, and there’s a distinct possibility that Apple may miss consensus estimates. On top of that, this will be the first earnings release under Apple’s revised guidance philosophy, so investors really have no idea how to interpret its forecast of $41 billion to $43 billion in revenue or CFO Peter Oppenheimer’s vague description of the change:
In the past we provided a single-point estimate of guidance that was conservative, that we had reasonable confidence in achieving. This quarter and going forward we’re going to provide a range of guidance that we believe that we’re likely to report within.
Not only will March be a tough quarter, but the June quarter may be even more challenging. There are numerous flagship smartphones launching in April, including Samsung’s Galaxy S4 and HTC’s One, while consumers and investors are expecting new iPhones as early as this summer.
BTIG Research analyst Walter Piecyk fears that June guidance could potentially drive shares below $400, even as he recently upgraded shares to “buy” with a $540 price target and thinks the risk is worth taking.
Who compares?
Since Apple had such a monster 2012, it’s facing tough comparisons this year. Trailing-12-month EPS is projected to decline over the next couple of quarters.
Source: SEC filings and Yahoo! Finance.
If Apple hits the March EPS consensus of $10.15 on the dot, it will have earned $41.95 per share over the past four quarters. That would represent negative earnings growth during the quarter (down from $12.30 EPS a year ago), which would inevitably make for some gloomy headlines.
That might scare some investors, especially if they compared possible headlines of “Apple Earnings Fall 17%” with ones earlier this week of “Samsung expects first-quarter profits of $7.7B, up 53 percent.” Of course, Apple will still beat Samsung in absolute dollars with closer …read more
Source: FULL ARTICLE at DailyFinance
Filed under: Technology, Apple, Mobile Technology, iPhone, Consumer Electronics
NEW YORK — The Wall Street Journal says Apple is set for a possible summer launch of the next iPhone, rather than a fall launch like the last two models.
Apple Inc. (AAPL) is also working on a cheaper iPhone model that could win it some market share in developing countries, the paper says. It cited unnamed people “familiar with the device’s production.”
The report is in line with the expectations of company watchers and Wall Street analysts. The iPhone 5 costs around $600, and while Apple maintains older iPhones in production, even those aren’t cheap enough to compete effectively against low-end smartphones running Google Inc.’s (GOOG) Android software.
Apple doesn’t comment on future products before its launch events.
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Filed under: Technology, Apple, China, Mobile Technology, Consumer Electronics
By CHRISTOPHER BODEEN
BEIJING — Apple apologized to Chinese consumers after government media attacked its repair policies for two weeks in a campaign that reeked of economic nationalism.
A statement Apple posted in Chinese on its website Monday said the complaints had prompted “deep reflection” and persuaded the company of the need to revamp its repair policies, boost communication with Chinese consumers and strengthen oversight of authorized resellers.
State broadcaster CCTV and the ruling Communist Party‘s flagship newspaper, People’s Daily, had led the charge against the U.S. company. They accused Apple Inc. (AAPL) of arrogance, greed and “throwing its weight around” and portrayed it as just the latest Western company to exploit the Chinese consumer.
The attacks quickly backfired, though, and were mocked by the increasingly sophisticated Chinese consumers who revere Apple and its products. State-run media also inadvertently revived complaints about shoddy service by Chinese companies.
Nonetheless, Apple responded with an apology from CEO Tim Cook.
“We’ve come to understand through this process that because of our poor communication, some have come to feel that Apple’s attitude is arrogant and that we don’t care about or value feedback from the consumer,” Cook’s Chinese statement said, as translated by The Associated Press. “For the concerns and misunderstandings passed on to the consumer, we express our sincere apologies.”
Although Apple enjoys strong support from Chinese consumers, the vehemence of the attacks and the importance of the Chinese market appeared to have persuaded the company to appear contrite.
The People’s Daily newspaper ran an editorial last Wednesday headlined “Strike down Apple’s incomparable arrogance.”
“Here we have the Western person’s sense of superiority making mischief,” the newspaper wrote. “If there’s no risk in offending the Chinese consumer, and it also makes for lower overheads, then why not?”
Chinese observers accused People’s Daily of gross hypocrisy and pointed out that the newspaper had maintained a stony silence when Chinese companies were implicated over food safety, pollution and other scandals. Meanwhile, CCTV was shamed when it emerged that celebrities had been recruited to blast Apple on Weibo, China‘s version of Twitter, in what had been billed as a grassroots campaign.
“The public responded in two ways to this incident,” popular commentator Shi Shusi wrote on his Weibo account. “One group supports this criticism but quite a number of people felt that there are state monopolies which have severely violated customer’s rights, but which are not being exposed.”
Poor Customer Service
Popular business magazine Caijing said its readers identified a long list of abusers, including state banks that lend to those with political connections while stiffing ordinary savers with low rates on deposits; a government oil company that sets gas prices and other rates as it sees fit; and state telecom providers notorious for …read more
Source: FULL ARTICLE at DailyFinance
Filed under: Technology, Apple, Electronics, Mobile Technology, Consumer Electronics
By PETER SVENSSON
NEW YORK — T-Mobile USA on Tuesday said it will start offering the iPhone on April 12, filling what its CEO said was “a huge void” in its phone lineup.
T-Mobile, the fourth-largest of the national U.S. phone companies, has been losing customers to the bigger companies, which all sell Apple Inc.’s (AAPL) iPhone.
“This is a big deal for us,” T-Mobile CEO John Legere said at an event in New York.
The company will charge $100 up front for the iPhone 5, then another $20 per month for two years. That’s on top of service fees for voice, text and data that start at $50 per month. The total monthly cost starts at $70 per month, a substantial discount to prices offered by bigger companies.
In some areas, where its network supports them, T-Mobile will also sell the older iPhone 4, for $15 down and $15 per month for two years, and the 4S for $70 plus $20 a month for two years.
T-Mobile’s network has, until recently, not been able to offer high-speed data service to iPhones. It’s now able to deliver high-speed data to iPhones in some cities, and it has lured over 2.1 million off-contract AT&T Inc. (T) iPhones, executives said Tuesday.
The company also announced that it is firing up an even faster data network, based on so-called “LTE” technology, in Baltimore, Houston, Kansas City, Las Vegas, Phoenix, San Jose, Calif., and Washington. Unofficially, the network is also active here and there in New York, as demonstrated at the event.
By the end of the year, T-Mobile says LTE will be available where two-thirds of the nation’s population lives. The iPhone 5 can access the LTE network for faster data downloads, while the older iPhones can’t.
T-Mobile is the last of the four major carriers to launch an LTE network, but already has a relatively fast “4G” network. It’s been hamstrung by a lack of space on the airwaves, but gained some room last year from AT&T as part the compensation for a failed buyout attempt. That’s allowing it to start building the LTE network.
T-Mobile wants to boost its LTE capacity and speeds even further by merging with No. 5 carrier MetroPCS Communications Inc. and thus gaining access to its space on the airwaves. That deal faces opposition from MetroPCS shareholders. By coincidence, they are voting on the merger on April 12, the same day T-Mobile starts selling the iPhone.
T-Mobile also said it will start selling the Samsung Galaxy S 4 …read more
Source: FULL ARTICLE at DailyFinance
By MarketNewsVideo Ashland (ASH) had its estimates and price target reduced by Credit Suisse (CS) due to lower demand in the end market. An $88 price target with an outperform rating was issued. …read more
Source: FULL ARTICLE at Forbes Markets
By Evan Niu, CFA, The Motley Fool
Filed under: Investing
Pairs trading is a strategy investors can employ to maintain a relatively market neutral position while attempting to exploit mispriced stocks. The idea is to go long an undervalued stock and short an overvalued stock, with the theoretical expectation that the two will converge and mispricing will be eliminated. It’s a rather risky strategy in general, because pairs trading is inherently leveraged, the prices can diverge further, and the paper losses can add up quickly with two positions going the wrong way.
Over the past six months, a pairs trade on Apple and BlackBerry , formerly known as Research In Motion, would have paid off immensely for investors who saw it coming. The Mac maker has seen shares lose 36% while BlackBerry shares have more than doubled. At one point, BlackBerry was flirting with gains of nearly 150% during the past few months.
Apple topped out at over $705 on the same day it launched the iPhone 5, but has pulled back because of negative investor sentiment surrounding its competitive prospects and investor frustration over its oversized cash position. Investor pessimism over BlackBerry reached a fever pitch at nearly the exact same time, which is about when shares bottomed out near $6.
In January, the company proceeded to — at long last — launch its BlackBerry 10 operating system platform after years of development and delays. The success or failure of BlackBerry 10 in the coming quarters will very much make or break the company, and investors are expressing their optimism by sending shares higher.
As profitable as a short Apple and long BlackBerry pairs trade would have been over the past six months, is it time to switch those positions, and go long Apple and short BlackBerry?
One analyst thinks so
Growth Avenue Asset Advisors thinks that now is precisely the time to make the swap. Analyst C.K. Narayan is out with a research note recommending that investors buy Apple and sell BlackBerry.
BlackBerry needs a “blockbuster of a product” to change its direction for the long term, and overall tech reviews of the new Z10 don’t consider the Z10 a blockbuster. The new device is certainly competitive in many ways, but isn’t leapfrogging the competition, which is effectively what investors are pricing in right now.
Narayan believes BlackBerry’s recent rally is “more or less over,” and if the Z10’s actual results are below investor expectations, shares could promptly return from whence they came and “test” all-time lows again.
BlackBerry has been coy about early launch figures, providing vaguely impressive comparisons to previous launches. On the other hand, the company did take the opportunity to boast an order for 1 million BlackBerry 10 devices last week, the largest single purchase order in BlackBerry’s history. Those smartphones are going to an unnamed “established partner.”
The devil is in the details though, and the identity of this mystery partner remains to be seen. If BlackBerry is referring to …read more
Source: FULL ARTICLE at DailyFinance
By MarketNewsVideo Apple (AAPL) had its earnings estimates lowered by UBS (UBS) for 2013 due to lower iPhone shipments. A $560 price target was set. …read more
Source: FULL ARTICLE at Forbes Markets
By The Street, Contributor Samsung unveiled its eagerly anticipated Galaxy S4 smartphone at a glitzy event in New York on Thursday night, launching another rival to Apple’s (AAPL) iconic iPhone. …read more
Source: FULL ARTICLE at Forbes Latest
Filed under: Technology, Consumer Goods, Internet, Mobile Technology, Consumer Electronics
By PETER SVENSSON
NEW YORK — Samsung Electronics is ratcheting up its rivalry with Apple with its new Galaxy S 4 smartphone, which has a larger, sharper screen than its predecessor, the best-selling S III.
Samsung trumpeted the much-anticipated phone’s arrival Thursday at an event accompanied by a live orchestra while an audience of thousands watched the theatrics unfold on a four-level stage at Radio City Music Hall. Summoning up a touch of Broadway, Samsung employed 17 actors to demonstrate the new phone’s features in a series of scripted vignettes.
The Galaxy S 4, which crams a 5-inch screen into body slightly smaller than the S III’s, will go sale in the U.S. sometime between the end of April and the end of June.
In the U.S., it will be sold by all four national carriers — AT&T Inc. (T), Verizon Wireless (VZ, VOD), Sprint Nextel Corp. (S) and T-Mobile USA — as well as by smaller ones US Cellular and Cricket. All told, Samsung plans to offer the Galaxy 4 S through 327 carriers in 155 countries, giving it a wider reach than Apple Inc.’s (AAPL) iPhone 5.
Samsung didn’t say what the phone will cost, but it can be expected to start at $200 with a two-year contract in the U.S. That’s comparable to the iPhone 5.
JK Shin, the executive in charge of Samsung’s mobile communications division, promised the money would be well spent for a “life companion” that will “improve the way most people live every day.”
That bold promise set the tone for the kind of flashy presentation associated with the showmanship of Apple, the company that Samsung has been trying to upstage. Apple contends Samsung has been trying to do it by stealing its ideas — an allegation has triggered bitter courtroom battles around the world.
Apple’s Primary Rival
In the last two years, Samsung has emerged as Apple’s main competitor in the high-end smartphone market. At the same time, it has sold enough inexpensive low-end phones to edge out Nokia Corp. as the world’s largest maker of phones.
The Galaxy line has been Samsung’s chief weapon in the smartphone fight, and it has succeeded in making it a recognizable brand while competitors like Taiwan’s HTC Corp. and Korean rival LG have stumbled. Samsung has sold 100 million Galaxy S phones since they first came out in 2010. That’s still well below the 268 million iPhones Apple has sold in the same period, but Samsung’s sales rate is catching up.
Research firm Strategy Analytics said the Galaxy S III overtook Apple’s iPhone …read more
Source: FULL ARTICLE at DailyFinance
By David Schepp
Filed under: Mobile Technology, Cell Phones, Android, iPhone, Consumer Electronics
Samsung Electronics is set to unveil its latest smartphone at a high-profile event Thursday evening in New York, where the company has rented New York‘s Radio City Music Hall to unveil the Galaxy S IV, expected to hit store shelves in April or May.
The smartphone, the successor to the wildly popular Galaxy S III, is expected to have an even larger screen than its predecessor, which sports a screen that measures 4.8 inches diagonally, much larger than the 4-inch screen on Apple Inc.’s (AAPL) iPhone 5. What’s more, the Galaxy S IV is expected to unveil several novel technologies that make the phone easier to use. For more on that check out the latest news from Engadget.
The Associated Press contributed to this report.
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