Monthly Archives: November 2013

Richard Waters

There was plenty of self-congratulation going on between Twitter and its advisers on Thursday. They had just avoided a repeat of the messy Facebook IPO: Twitter is officially the new darling of Wall Street.

But did they err in the other direction instead and massively under-price the offering? Read more

Twitter began life as a public company today as it started trading on the New York Stock Exchange in the most closely watched initial public offering of the year.

The San Francisco-based company priced its shares on Wednesday at $26 a piece. It will raise about $2.1bn by selling 80.5m shares, or about 13 per cent of the company.

The shares closed up 73 per cent at $44.90.

 

Who says the PC is dead? Lenovo’s notebook sales rose 8 per cent year-on-year in the three months to September, a period when global industry shipments fell by 12 per cent.

Fiscal second quarter results on Thursday showed clearly that the Chinese company is not just the world’s biggest PC maker, it is also the only one that has its act together: Acer this week lost its second chief executive in three years, HP still has at least three years to go in its turnaround plan, and Dell has retreated from the public markets to nurse its wounds. Read more

Activision Blizzard’s $1bn number for sales of its latest Call of Duty game sounds impressive – at double the $500m in first-day sales it announced last year – but these figures have a hard-to-grasp ghost-like quality to them. Read more

So this is it. Google’s revised offer to settle the European Commission probe into its search business has been described extensively in the press. But the actual text and screenshots of how new Google searches will look under the proposal were not published, much to the annoyance of the complainants asked for confidential feedback. One of the parties has decided to revolt and set the documents free. We’re publishing them here in full.

 Read more

Sarah Mishkin

A Beijing customer buys two new iPhone 5s

A customer celebrates buying two new iPhone 5s at the Wangfujing flagship store in Beijing

When Xiaomi, a popular Chinese smartphone maker, overtook Apple’s market share in China the second quarter, the shift prompted a double take by consumers and investors who had never heard of the small but growing brand.

The ascent was short-lived. Apple’s two new iPhones have proved popular in China, enabling the US company to shoulder past Xiaomi in the market share rankings for the three months ended in September.

But Apple and everyone else are still miles behind the clear market leader — Samsung, which now has a fifth of China’s smartphone market, up from 14 per cent in the third quarter of last year. Read more

 

For the first time in eight years, almost the entire top management team at Samsung Electronics will present themselves on Wednesday before an audience of about 350 analysts and investors at Seoul’s Shilla Hotel.

The full-day event will feature addresses from eight executives, who will also take questions. Chairman Lee Kun-hee and his son, vice-chairman Jae-yong, will not be on stage – but this represents a rare opportunity for the audience to press senior figures about Samsung’s long-term strategy, writes Simon Mundy.

So what are the key questions surrounding the future of the world’s biggest technology company by sales? Read more

Sarah Mishkin

Rihanna gives away a personalised HTC phone on stage

How badly is smartphone maker HTC doing?

By many measures, very badly. October sales are down 13 per cent year on year. Revenue next quarter could be as low as NT$40bn, a third less than the same quarter last year and lower than analysts’ expectations. And after reporting its first ever quarterly operating loss as a company in the third quarter, it shows no sign of returning to profit in the fourth.

But one measure in particular, released today with its full third quarter results, shows the Taiwanese company’s travails — its accounts payable. That measures how long it is taking the company to pay its bills to its suppliers, who make the parts of its phones. Read more

Richard Waters

Helpouts is just the kind of big, ambitious project Google should be working on. A marketplace for people to sell – or just donate – their knowledge and expertise through live video sessions, it’s an all-embracing platform covering everything from the simplest how-to advice to full, personalised masterclasses.

So why does it feel like a re-run of Knol, the crowd-sourced Google knowledge base that was closed in 2012 after a four-year run? Read more

Hannah Kuchler

Until Twitter revealed its list of principal shareholders in its initial public offering filing, few knew who actually owned the company.

But now a new book published on Tuesday reveals how three co-founders split the stock and why Evan Williams may be the only one to become a billionaire from the offering.

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