Archive for February 1, 2008

Major Internet Disruption in Middle East

Posted: February 1, 2008 in Tech

Egypt, India and Gulf Arab countries are facing issues with internet connectivity due to a breakdown in the international undersea cable network.

Egypt has said that it could take several days before normal connectivity is restored in these countries.  The cut has affected Internet services in Egypt with a partial disruption of 70 percent of the network nationwide.”

Egyptian telecoms ministry added that they are not sure whether the problem is due to cable damage or weather issues.

Dell to close sales kiosks in U.S. malls

Posted: February 1, 2008 in Tech

Dell announced that they are going to close down all of its 140 U.S. kiosks.

These kiosks were launched in 2002 and were used to showcase their computing products. Dell is now focusing on selling their products through retail stores in the market.

MySpace Launches Developer Platform

Posted: February 1, 2008 in Tech

MySpace has announced their own developer platform which would enable third party developers to code applications for the service.

The new platform will enable developers to Learn & Play with the MySpace Developer Platform and obtain core documentation; Test & Tinker OpenSocial applications using the MySpace Container and Build & Submit applications with our “Application Builder” that installs on live MySpace profiles.

Lenovo Triples Profit

Posted: February 1, 2008 in Tech

Lenovo Group reported strong financial results for its third fiscal quarter of 2007/08, which ended December 31, 2007. Sales for the quarter jumped 15%, year over year, to US$4.6 billion, driven by double-digit growth in Lenovo PC unit shipments and sales across all of the Company’s operating geographies.

For the seventh consecutive quarter, Lenovo worldwide PC shipments exceeded the average growth rate of the global PC market, with year-over-year growth of 22%, healthily outpacing the industry average growth of 16%.

Lenovo’s segment operating profit margin for the third quarter of 2007/08 was 4.4%, compared to 2.4% in the same period a year ago, and up 0.4 percentage points sequentially, evidence of the Company’s operating efficiency efforts. For the third quarter of 2007/08, Lenovo reported pre-tax income of US$192 million (excluding restructuring) and basic earnings per share of 1.93 US cents, or 15.01 HK cents. Net cash reserves as of December 31, 2007, totaled US$2.0 billion.

Audible Inc. to be acquired by Amazon.com

Posted: February 1, 2008 in Tech

Amazon.com, Inc. announced that it has reached an agreement to acquire Audible Inc.

Audible.com is the leading online provider of premium digital spoken word audio content, specializing in digital audio editions of books, newspapers and magazines, television and radio programs and original programming.

Amazon.com will commence a cash tender offer to purchase all of the outstanding shares of Audible.com for $11.50 per share and will assume Audible.com’s outstanding stock-based awards, for an aggregate transaction value of approximately $300 million which includes Audible.com’s cash and short-term investments at closing.