Spansion, the chipmaker hit by overcapacity and falling prices for Flash memory, could emerge from Chapter 11 bankruptcy protection in the fourth quarter.
The debt-ridden Silicon Valley company filed for protection from its creditors on March 1, but its latest quarterly results show restructuring left it with cash balances of $220m at the end of June, up from $95m in March. It reported $376m in quarterly sales. Read more
THQ and chief executive Brian Farrell (pictured) made a fighting comeback in the June quarter, with their mixed-martial arts game selling nearly 3m copies and returning the video game publisher to profit.
THQ reported sales up 77 per cent on the previous year at $243.5m and profits of 9 cents a share compared to losses of 41 cents. Read more
Verizon is turning to machines as a source of new subscriber growth, in a joint venture with wireless chipmaker Qualcomm.
The great thing about machines is they won’t churn, said Steve Pazol, head of the new company at a press-conference launch today. He cited the example of a John Deere tractor sitting in a field having no interest in switching to a cheaper family plan with another carrier. Read more
It is clear from the moment visitors step into the lobby of AOL’s New York headquarters that this soon-to-be-spun-off internet division of Time Warner remains a work in progress, writes Kenneth Li.
Tim Armstrong, AOL’s chief executive since March, would prefer that visitors based their initial impressions by starting with his office. A giant black-and-white poster of CNN founder Ted Turner in Apple’s “Think Different” advertising campaign hangs on a wall in a room surrounded by pictures of his three children. Read more