This time last year, Acer was reporting a $442.19 million dollar loss along with an operating loss of $86.61 million, which it attributed to the gross margin impact of gearing up for the Windows 8.1 sell in and related management of inventory. Fast forward a year and things are looking up with Acer reporting a third quarter profit after tax (PAT) of $21.38 million along with operating income of $36.27 million.
We don't know if it's something in the Starbucks lattes in Silicon Valley or what, but all of a sudden companies are either announcing breakups or exploring whether or not to spin-off a division. Auction site eBay recently announced that it plans to give Paypal a set of wings and let it fly solo, and then Hewlett-Packard decided that it too was ready for a split (between its PC and printer businesses). Now there's talk that Symantec is considering a breakup as well.
Canadian handset maker is slowly turning things around
If we look back a year ago, it seemed like BlackBerry was dead in the water with no lifeboat in sight. Fast forward to today and the Canadian company is in better shape with losses continuing to narrow each quarter. Granted, the company would rather be posting profits, but first it needs to find solid footing from which it can build upon. We don't know if the company is there yet, however, it's a somewhat of a positive sign that BlackBerry posted a better-than-expected $11 million loss, or 2 cents per share, for its fiscal second quarter.
Intel is turning to China to help the chip maker become a more competitive force in the mobile industry. Part of Intel's strategy is to invest up to $1.5 billion for a 20 percent stake in two Chinese mobile chipmakers, Spreadtrum Communications and RDA Microelectronics. The investment is being made under holding company Tsinghua Unigroup, an operating subsidiary of Tsinghua Holdings Col, Ltd., a solely-owned limited liability corporation funded by Tsinghua University in China.
After five straight quarters of being on top, Lenovo shows no signs of relinquishing its position as the world's largest supplier of PCs (in terms of sales and volume). The number one PC maker is also determined to outpace the industry average in desktop PC growth, hence Lenovo just announced three new additions to its ThinkCentre desktop PC line designed for business users as companies look to leave Windows XP in the dust.
AMD's stock price is down around 18 percent since the chip maker posted Q2 financial results
Sometimes it seems like AMD can't catch a break. That's certainly true of its second quarter performance -- the Sunnyvale chip maker announced Q2 revenue of $1.44 billion, representative of a 3 percent sequential bump and a year-over-year jump of 24 percent. Not too shabby, though at the end of the day, AMD's debt burden dragged the company down by contributing to a net loss of $36 million.
Lenovo expanded its position as the No. 1 PC supplier in the world
The good times keep rolling for Lenovo, the company that continues to defy the odds with record growth. This time, Lenovo posted revenue of $38.7 billion for its full fiscal year, up 14 percent compared to a year ago and the highest it's ever been. In fact, Lenovo broke records all around, including pre-tax income of $1.01 billion, up 27 percent year-over-year and record full year earnings of $817 million, up 29 percent.
There's a new chief in town and his job will be to pick Nokia up by the bootstraps and kick the company into gear. After selling off its mobile handset business to Microsoft and reporting a less than stellar quarterly earnings report, Nokia on Tuesday promoted Rajeev Suri to President and Chief Executive Officer (CEO), a promotion that will go into effect on May 1, 2014.
IBM knows the business areas it wants to focus on going forward. The company also knows that job cuts are inevitable as it attempts to "rebalance its workforce" to the fit the direction it's headed, though exactly how many employees will be receiving pink slips hasn't yet been determined, at least not officially. Unofficially, IBM may reduce the number of workers in its Systems and Technology group by up to 25 percent.
Big changes are in store for Sony as part of a restructuring effort
Sony this week announced plans to close down 20 retail stores scattered throughout the United States, which will leave the company with 11 stores in California, New York, Florida, and Texas. The closures are casualties of a restructuring effort intended to help Sony remain competitive in an "evolving consumer electronics market," the company said. Thousands of job cuts are also in Sony's future.