By Cody Lee on Aug 27, 2015
Apple on Thursday announced that it has teamed up with payment service PayAnywhere on a new mobile NFC card reader. It will attach to iOS devices, and support both traditional credit cards and those stored within Apple Pay.
The reader, which will be available exclusively in Apple Stores in September, will open the door for smaller businesses to begin supporting Apple Pay. PayAnywhere is easy to setup and there are no monthly fees to worry about. Read More
By Christian Zibreg on Aug 24, 2015
Apple CEO Tim Cook made a rare move today by responding to an email from CNBC’s Jim Cramer. Cook’s letter, a copy of which was obtained by Business Insider, addresses the company’s quarter so far and basically says that everything’s fine with Apple’s business and performance in China.
Apple’s stock has been declining since the company’s June quarter earnings showed iPhone sales coming slightly below investors’ expectations. This morning, $AAPL fell below $100 amid bigger stock market woes as most indices are in the red today. Read More
By Cody Lee on Aug 18, 2015
Apple on Tuesday added 18 new banks and credit unions to the growing list of Apple Pay-supporting issuers in the United States. With these additions, Apple Pay is now supported by more than 400 financial institutions nationwide.
Launched in October of last year, Apple Pay is a mobile payment service that allows users to pay for goods and services using iPhone or Apple Watch. It’s accepted at hundreds of thousands of retailers and restaurants around the country. Read More
By Cody Lee on Aug 18, 2015
Square updated its Square Cash mobile app today, bringing the iOS client to version 2.8. The release brings about full support for the Apple Watch, allowing users to send money to your friends, family or anyone nearby with just a few simple taps.
For those unfamiliar with Square Cash, it’s pitched as one of the easiest ways to send and receive money. It’s free for consumers and setup only takes a minute to link up a credit or debit card. Plus, all transactions are protected by 128-bit encryption. Read More
By Cody Lee on Aug 3, 2015
Apple has purchased a massive development site in North San Jose in a blockbuster real estate transaction, reports the Silicon Valley Business Journal. The move comes just weeks after the company leased nearly 300,000-square-feet of office space in the city.
According to public records, Apple closed the deal with developer Lowe Enterprises’ for its so-called “n1 Campus” last week. It paid around $138 million for a roughly 43-acre development site, which has been approved for up to 2.8 million square feet of office space. Read More
By Cody Lee on Jul 21, 2015
Apple has posted its third quarter earnings report for 2015 this afternoon, and says it has broken its own record for the three-month period. The company earned a net profit of $10.7 billion on $49.6 billion in revenue.
That money comes from strong international hardware sales, which accounted for 64% of all revenue. Overall, Apple moved 47.5 million iPhones and 10.9 million iPads during its third quarter, as well as 4.8 million Macs. Read More
By Cody Lee on Jul 8, 2015
In response to Apple Music and other competitors, Tidal on Wednesday announced new family plans for its streaming music service. The new plans will allow up to 5 users to enjoy Tidal’s Premium and HiFi service tiers at a significant discount from standalone rates.
It works like this: a standalone account for Tidal Premium costs $9.99 per month, and a HiFi account costs $19.99 per month. With family plans, users can add up to 4 additional users to their account at 50% off—$4.99/month for Premium, and $9.99/month for HiFi. Read More
By Cody Lee on Jun 30, 2015
Apple Music finally launched around the world this morning, and with it comes a lengthy 3-month free trial. But after the trial period is up, you’ll be on the hook for $10 per month, unless you turn off auto-renewal. Luckily, as with all iTunes-billed subscription services, this is quick and easy to do. Read More
By Cody Lee on Jun 30, 2015
A federal appeals court on Tuesday upheld a 2013 decision finding Apple guilty for conspiring with publishers to raise e-book prices, reports The Wall Street Journal. As a result, the company is expected to pay a $450 million settlement it agreed to with private plaintiffs, 30+ states and the DOJ last year.
“We conclude that the district court correctly decided that Apple orchestrated a conspiracy among the publishers to raise e-book prices,” wrote Second Circuit Judge Debra Ann Livingston. The conspiracy “unreasonably restrained trade” in violation of the Sherman Act, the federal antitrust law, she wrote. Read More
By Christian Zibreg on Jun 30, 2015
Apple is going to release earnings for its third fiscal 2015 quarter on Tuesday, July 21, according to an update published last evening on the company’s Investor Relations webpage. A conference call to discuss third fiscal quarter earnings with Wall Street investors will be taking place on Tuesday, July 21, 2015 at 2pm Pacific / 5pm Eastern Time.
A live webcast of the conference call will be available here. Read More
By Cody Lee on Jun 19, 2015
Apple denies claims made by some artists that it’s threatening to remove their songs from iTunes if they don’t sign up for Apple Music, reports Rolling Stone. A company spokesperson told the outlet that music “will not be taken off” as a result of license negotiations.
The controversy arose earlier this week when Anton Newcombe of psychedelic rock group Brian Jonestown Massacre took to Twitter to complain about Apple and its bullying tactics. “I said what if I say no, and they said we’ll take your music off itunes. hard ball?” Read More
By Cody Lee on Jun 17, 2015
Samsung on Wednesday asked the US Federal Circuit Court of Appeals to reconsider its decision to uphold a ruling that will cost it $400 million in damages for infringing on Apple’s design patents, reports San Jose Mercury News. In a recent court filing, the company asks for a rehearing with a full 12-judge roster, rather than the 3-judge panel the court used last month.
In 2012, a jury ruled that several of Samsung’s products infringed on Apple patents, and awarded the iPhone-maker $1 billion in damages. That number has been reduced down to $548 million in various post-trial proceedings, and Samsung is trying to eliminate another big chunk—some $400 million—by getting the verdicts regarding design patent infringement tossed out. Read More
By Cody Lee on Jun 17, 2015
The US Federal Communications Commission announced plans on Wednesday to fine AT&T $100 million for unsuitable throttling practices. The Commission issued a press release on its website this morning proclaiming the decision, charging the carrier with violating the ‘2010 Open Internet Transparency Rule.’
The move comes as the result of an in-depth investigation, where the FCC found that AT&T—the second largest wireless provider in the US—had not adequately informed its customers with unlimited data plans that it would be dramatically slowing down their Internet access once they crossed a particular threshold. Read More
By Cody Lee on Jun 5, 2015
Apple is planning a departure from the long-standing 70/30 iTunes pricing arrangement it has with digital media companies, reports the Financial Times. According to sources familiar with the matter, Apple is discussing new commercial terms with a number of players in the video, music and news subscription space.
The split, which doles out 70% of app and media sales to content owners/creators and 30% to Apple for hosting and distribution, has been around since the iTunes Store first launched in 2003. Apple hopes the change can improve its relationships with media firms, and reassure regulators that it’s not abusing its power. Read More
By Cody Lee on May 12, 2015
The FCC announced on Tuesday that Verizon and Sprint have agreed to pay $158 million to settle their bill cramming investigations with the Commission. Verizon Wireless will pay $90 million and Sprint Corporation will pay $68 million, and much of that will go to consumer refunds.
“For too long, consumers have been charged on their phone bills for things they did not buy,” said the oft-outspoken FCC Chairman Tom Wheeler. “We call these fraudulent charges ‘cramming,’ and with today’s agreements we are calling them history for Verizon and Sprint customers.” Read More
By Christian Zibreg on May 6, 2015
During a conference call discussing its fiscal 2015 second-quarter results, Tim Cook & Co. also announced expanding their already massive capital return program to a whooping $200 billion through March of 2017 to “reflect strong confidence in what lies ahead for Apple.”
A filing with the United States Securities and Exchange Commission posted today on Apple’s Investor website casts more light on the initiative, confirming the company will fund this expansion through a new seven-part bond to raise the funds. Read More
By Cody Lee on May 5, 2015
Angela Ahrendts, Apple’s recently-hired senior vice president of retail and online stores, was the highest-paid female executive in the United States last year. According to data compiled by Bloomberg, Ahrendts was awarded $82.6 million in 2014, including a sign-on bonus and a make-whole grant for money she left on the table at Burberry.
Coming in second on the list was Oracle’s Safra Catz, who raked in $71.2 million in fiscal 2014 for her role as chief financial officer and co-CEO. Rounding out the top 3 highest paid female executives was Yahoo!’s Marissa Mayer who, at 39-years-old, was the highest-paid female chief executive last year, with a salary of $59.1 million. Read More
By Christian Zibreg on Apr 30, 2015
Based on the initial Apple Watch teardown analysis conducted by hardware experts at iFixit, Chipworks and ABI, research firm IHS Technology has now estimated the cost of components — so-called bill of material — that go into building each 38mm aluminum Apple Watch Sport at $81.20.
The figure excludes other significant costs associated with assembly, packaging, delivery, logistics, overhead, marketing, sales, licensing, advertising and other related expenses.
For clarity, Apple CEO Tim Cook said on an earnings call earlier this week that component cost breakdowns around Apple products are inaccurate and “much different than the reality.” Read More
By Cody Lee on Apr 29, 2015
The European Commission’s investigation into Ireland’s tax deals for multinational corporations could have a “material” impact on Apple, the company said in a 10Q filing to the S&E Commissions this week. If it’s determined that Dublin’s tax policies represented unfair state aid, the Cupertino firm could suffer significant losses. Read More
By Sébastien Page on Apr 29, 2015
Samsung reported its financial results for Q1 yesterday, and the numbers aren’t great. The company reported net profits of 4.63 trillion won (about $4.35 billion), representing a 39% drop from the year ago quarter. Read More