Money

Judge rejects $324 million anti-poaching settlement from Apple and others

Cody Lee ∙ Updated April 18, 2018

In 2011, tech employees levied a class action anti-poaching lawsuit against Apple, Google, and other companies. The suit covered more than 60,000 workers, who claimed the firms conspired to keep their salaries lower by entering in a non-poach agreement with one another.

It was reported in April that Apple, Google, Intel and Adobe had reached a settlement for $324 million, but apparently Judge Lucy Koh (yes, that Judge Koh) didn't like that number. Judge Koh officially rejected the proposed offer today, saying that it needed to be higher...

Big increase in Apple spending suggests major new products incoming

Cody Lee ∙ July 25, 2014

For those of you still skeptical that Apple is gearing up for a blockbuster fall, check out this report from Morgan Stanley's Katy Huberty. The analyst dug through its just-released 10-Q filing, and she says it reveals a lot about its upcoming plans.

Huberty explains that the company's significant increase in spending all-but-confirms that we'll see some major new products this year. In fact, its quarter-over-quarter increase is the largest we've seen since it introduced the first iPhone in 2007...

iTunes software and services fastest growing part of Apple’s business this year

Cody Lee ∙ Updated April 17, 2018

During Apple's Q3 earnings call this afternoon, Tim Cook praised the success of its iTunes software and services arm. The CEO said the division was the fastest-growing of the company's business in the first 9 months of its fiscal year 2014.

The segment generated $4.5 billion in revenue during the 3-month period, an increase of 12% YoY (or year over year). And Cook attributed the growth to a number of factors, including growing interest in China and strong App Store numbers...

Apple Q3 2014 earnings: 35.2M iPhones, 13.2M iPads, $37.4B revenue

Cody Lee ∙ Updated April 17, 2018

As expected, Apple is out with its financial report for Q3 2014 this afternoon. In a press release issued just a few moments ago, the company announced that it sold 35.2 million iPhones, 13.2 million iPads, and pulled in $37.4 billion in revenue during the three month period.

Apple beat its own guidance, and met projections on just about everything but iPad numbers. It would seem that the problems continue with the popular tablet line, as sales came in more than 1 million units less than expected. We have a full breakdown of the numbers below...

Apple launches iTunes Pass in the US and other countries

Cody Lee ∙ Updated April 17, 2018

On Tuesday, Apple launched a new service in Japan called 'iTunes Pass.' The service allows customers to purchase iTunes Store credit from an Apple retail store using Passbook, eliminating the need for physical gift cards and redemption codes.

At the time of launch, it was unclear if Apple intended to roll out iTunes Pass to other countries, or if it was merely just testing the waters for a bigger project. After 24 hours, that question was answered tonight when the service popped up in the US...

Google Wallet updated with support for gift cards, free debit card transfers and more

Cody Lee ∙ July 16, 2014

Google today announced a significant update for its Google Wallet service. The new version brings about support for gift cards, money requests, and the ability to send money with your debit card for free, and it should be rolling out to iOS and Android apps shortly.

With the new gift card support, users will be able to save their electronic cards to Google Wallet, redeem them in-store, and even check their balances [only at participating merchants]. The Wallet app can even remind you to use your card when you are near stores...

Sharp in talks with Apple to regain control of iPhone panel plant

Cody Lee ∙ Updated April 17, 2018

Sharp is looking to regain control of its Kameyama plant back from Apple. Nikkei is reporting this afternoon that the company has proposed a deal to the Cupertino firm worth nearly $300 million, in an effort to diversify its customer base.

The Kameyama Plant No. 1 began operations in 2004 as a facility for manufacturing large panels for flat-screen TVs. But after consecutive years of profit losses, it called on Apple to help foot the bill to transition the plant to smaller panels...

Samsung blames sluggish tablet sales, increased competition for Q2 earnings miss

Cody Lee ∙ July 8, 2014

Samsung today issued its earnings guidance for the second quarter of 2014, and in somewhat of an odd move, it attached a note to the document explaining why it will fall short of estimates. The company expects to see its profits drop for the third consecutive quarter.

The note details a number of factors, including the improving strength of the Korean won making exports more expensive, and exceedingly sluggish tablet sales. It also explains that it is running into greater competition in China from low-end device makers like Xiaomi...

AT&T increases activation fees for customers with 2-year contracts

Cody Lee ∙ Updated April 17, 2018

AT&T has increased its activation fees for customers who opt for two-year contracts. The increase is only a couple of dollars, from $36 to $40, but when you consider that you have to pay that for every device, every upgrade, it starts to add up.

The move is part of a larger effort by the carrier to push more subscribers away from the traditional contract/subsidy model, and towards Next. The upgrade program allows customers to get a new device every year for $0 down, and zero fees...

Apple, Google and others pledge $2M to hold Super Bowl 50 in Bay Area

Cody Lee ∙ Updated April 17, 2018

According to a new report from the San Jose Mercury News, Apple has joined Google and other tech companies who have pledged $2 million in cash and services to help offset taxpayer costs of hosting Super Bowl 50 in San Francisco.

The Bay Area Super Bowl Host committee announced that is has raised $40 million for the event, which will be held at the 49ers' newly-built Levi's Stadium in 2016. The venue is less than 15 miles away from Apple's Cupertino campus...

Mobile hit ‘Candy Crush’ made more money than all Nintendo games last quarter

Cody Lee ∙ Updated April 17, 2018

Critics have been saying for years that Nintendo should get into the mobile gaming business. It's not just that the company's hardware business is slipping, or that it's losing money, but mobile games happens to be a very hot space right now.

Case in point is this recent report from research firm Newzoo, which ranks public companies by game revenue. According to the firm's data, hit mobile title Candy Crush generated more money last quarter than all Nintendo titles combined...

Luca Maestri officially begins work as Apple’s new CFO

Cody Lee ∙ Updated November 3, 2017

If you don't know the name of the guy in the picture, you should probably learn it. That is Luca Maestri, and he is Apple's latest Senior Vice President. Maestri used to be the company's Corporate Controller, and is now its Chief Financial Officer.

Apple announced in March that its long-time CFO Peter Oppenheimer would be retiring this year, and Maestri would be taking his place. And according to SEC paperwork filed today, he officially became Oppenheimer's successor as of May 29th...