Corporate

Verizon’s Christmas quarter: 1.6M new subscribers, $5B quarterly profit

Christian Zibreg ∙ January 21, 2014

Verizon Wireless, the nation's top wireless carrier, on Tuesday reported its earnings for the 2013 holiday quarter. Despite notable gains from T-Mobile, whose attention-seeking CEO earned his company a lot of coverage while lambasting competitors, Verizon has managed to add 1.6 million new contract subscribers during the Christmas quarter of last year, pushing its total subscriber count to 102.8 million customers.

Quarterly net income of the wireless division was $5.07 billion on $21.1 billion in revenue, or $7.9 billion on $31 billion in revenue for Verizon Communications.

The figure compares favorably to a massive $1.93 billion loss in the fourth quarter of 2012, attributed to the damage caused by Hurricane Sandy and rising costs in employee pensions. More tidbits below the fold...

Apple now hiring engineers for Arizona sapphire glass plant

Christian Zibreg ∙ January 14, 2014

It was confirmed back in November that Apple has secured multi-year supply of sapphire cover glass by prepaying north of $500 million towards the purchase of sophisticated furnaces that will churn out the protective material on an industrial scale.

The material production would be handled by a company called GT Advanced at a plant in Mesa, Arizona that would create 2,000 U.S. jobs. The iPhone maker has now begun hiring engineers for the Mesa plant for the positions that specifically mention iPhone and iPod manufacturing...

And just like that, Google buys smart thermostat and smoke detector maker Nest Labs

Christian Zibreg ∙ January 13, 2014

The Internet giant Google has announced that it has bought Nest Labs, the maker of a family of iPhone-controlled smart thermostat and smoke and carbon monoxide detector devices for connected homes. Nest will continue to operate independently of Google and won't share customer data with them. Nest was founded by the brilliant engineer Tony Fadell who used to work at Apple where he was charged with the iPod music player project.

Yes, the iPod Godfather now works for Google! The transaction is valued at a whopping $3.2 billion in cash. Google paid quite handsomely to buy Nest, didn't they? Considering Nest raised about $80 million in venture funding, the acquisition qualifies as one of the most profitable exit strategies among Silicon Valley startups.

iDownloadBlog's Jeff Benjamin reviewed the Nest learning thermostat and was impressed with its sleekness and functionality, the $249 price point be damned...

Apple announces record-breaking App Store stats: $10B revenue in 2013 and more

Christian Zibreg ∙ January 7, 2014

Apple has just announced via a press release this morning that customers have spent north of $10 billion in the App Store in 2013, including over an astounding $1 billion in sales in December alone.

It was the best year for the App Store business thus far. The more than $10 billion in 2013 revenue should be music to developers' ears as Apple's platform continues to lead in terms of user engagement, stickiness, profitability and other metrics that matter.

And how much money did Apple pay to its "incredible developers," as the company put it, since the App Store's inception nearly seven years ago? Fifteen billion dollars (not a typo) - and that's after its customary 30 percent cut!

The company said developers really took advantage of the new iOS 7 APIs to overhaul their apps and mentioned successful App Store developers such as Evernote, Yahoo, Pinterest and a few others. The company also cast spotlight on some surprise 2013 hits such as Ellen DeGeneres’ Heads Up and hit games from international developers like Clumsy Ninja and Candy Crush Saga, which reached half a billion downloads in just a year...

Apple to discuss holiday sales in January 27 conference call

Christian Zibreg ∙ Updated February 9, 2016

According to the Apple Investor webpage, the company will hold a conference call on Monday, January 27, to discuss financial results of its first fiscal 2014 quarter. The call is scheduled at 2:00pm Pacific / 5pm Eastern Time.

Apple typically announces quarterly earnings via a press release issued half an hour ahead of these calls and we'll be providing around the clock coverage to make sure you're up to date on all matters concerning the company's business metrics.

The upcoming earnings report should be interesting on many levels as it will cover the all-important holiday season sales data for the iPhone 5s/5c, the iPad Air and iPad mini with Retina display...

Yahoo buys video startup QuikIO

Christian Zibreg ∙ Updated January 25, 2018

In the past year or so, Yahoo's been bolstering up its video and rich content expertise by acquiring smaller startups left and right. The company kicked off the acquisition spree by buying the mobile news startup Summly for $30 million and the #2 blogging platform Tumblr for north of $1 billion. Soon after, Yahoo paid $50 million for the cool iPhone video app, Qwiki.

In the ensuing months, Yahoo snapped up the DreamWorks-funded video-sharing app Ptch and announced that the New York Times technology columnist David Pogue and American television journalist Katie Couric are joining its A-team of premium content producers.

Today, it was reported that Yahoo in another acqui-hire move bought the cross-platform video startup called QuikIO...

Apple poaches top radio exec to lead iTunes Radio ad sales

Christian Zibreg ∙ Updated January 26, 2016

In another move meant to capitalize on the success of its free iTunes Radio streaming-music service, Apple's hired a top radio exec as the company preps to offer iTunes Radio to advertisers in 2014 and take the service international, AdAge claims.

Former Cumulus Media Executive Vice President of Sales, Michael Pallad, has now joined Tim Cook & Co. and is now overseeing ad sales for iTunes Radio internationally, according to people familiar with the matter who spoke to AdAge. He will report into the iAd unit, which is led by Apple Vice President and former Yahoo exec Todd Teresi...

Instagram issues invites for December 12 ‘share a moment’ media event

Christian Zibreg ∙ December 5, 2013

Facebook-owned Instagram is hosting a special media event next Thursday, a week from today. The photography service has unusually opted to send out invites via FedEx, not email. The invitation graphics does not seem to allude to any specific new feature introduction.

The all-white background is adorned with the Instagram logo and a short message which invites select members of the press to "share a moment" on December 12 in Midtown Manhattan, New York City, at 10am EST / 7am Pacific Time. That being said, we have a pretty good idea what Instagram might unveil come next Thursday...

Tim Cook issues Business Conduct Policy video message to employees

Christian Zibreg ∙ November 21, 2013

In an unusual move yesterday, Apple CEO Tim Cook reached out to company employees via a video message urging them to familiarize themselves with Apple's Business Conduct Policy. The message, posted to Apple's internal system, quotes Dr. Martin Luther King Jr saying “The time is always right to do what is right” in order to encourage employees to speak up about conduct that may violate Apple's policy.

Along with the video message, employees also received an email from Apple's top lawyer who goes on to reiterate Apple’s core values of honesty, respect, confidentiality, and the "critical obligation of every Apple employee to adhere to legal principles", such as antitrust and anti-corruption laws.

Apple has even put together a new code of conduct iBook for employees with multimedia content including galleries, video, audio and multitouch widgets. The full message is right after the break...

Carl Icahn: not fighting Apple leadership, won’t walk away from his investment

Christian Zibreg ∙ Updated April 18, 2016

Some people question Carl Icahn's motives and wonder what if the billionaire activist investor will stop at nothing in order to push Apple into burying itself in debt, just to fund his massive $150 billion stock buyback proposal so he could put a nice little profit into his pocket.

I'm not afraid of Icahn, but understand why some watchers are. And rightfully so, as Icahn is notorious for pushing for CEO and board room changes to have his way, often with little regard for a company's well being afterwards. So, what's the size of Icahn's investment in Apple, does he have a leverage over Tim Cook and what exactly is he up to?

Bloomberg details Apple’s sophisticated robots and production machinery

Christian Zibreg ∙ Updated January 26, 2016

'Gadgets that build gadgets' should have been the headline of the Bloomberg piece which details Apple's multi-billion dollar investments in custom-engineered manufacturing equipment, machines and robots which dutifully churn out your shiny new iPads and iPhones with their diamond-cut chamfered edges, precision crafted down to the micron.

'The Rolex of smartphones' is impossible to mass-produce using the existing tooling and manufacturing techniques. Because Apple custom-designs everything, it shouldn't surprise you that it also designs its own manufacturing processes, techniques and cutting-edge production equipment.

Just how does the company utilize its billions on these pricey robots?