Rumor has it Lenovo is interested in Sony's Vaio PC business
Reports emerged over the weekend claiming Lenovo, the world's No. 1 PC maker in terms of shipments, has been in talks with Sony about a possible joint venture involving the sale of Sony's Vaio PC business. Considering that Sony's Vaio PC division is operating at a loss, not to mention Lenovo having just announced plans to purchase Motorola Mobility for $2.91 billion, investors are spooked.
Acer was riding pretty high back in the netbook era, sales of which helped the company post record revenue of $17.5 billion with net operating profit reaching $478.1 million in 2009. At the time, Acer predicted it would supplant Hewlett-Packard as the world's No. 1 PC maker by 2012. Instead, Acer saw its CEO Gianfranco Lanci walk away after a disagreement with the board, and not long after, the PC maker posted its first quarterly loss. Fast forward to today and all eyes are on Acer's new chief, Jason Chen.
Acer's search for a new chief has come to end. The man who will replace interim CEO Stan Shih is Jason Chen, who served at TSMC from 2005 to 2008 as the vice president of TSMC Corporate Development. Since then, he's been serving as senior vice president of Worldwide Sales and Marketing at TSMC. As for Shih, he will continue to serve as Chairman of Acer and Chairman of the Transformation Committee, Acer said.
There are at least a couple of different ways you can view parting advice from the not-yet-retired Chief Executive Officer of Microsoft. One is that if Steve Ballmer's management tips were truly worth their weight in gold, Microsoft wouldn't find itself in a position of having to restructure its organization and pressure the man in charge to let go of the reins. The other way to look at it is that Ballmer was (and still is, for the time being) in charge of the one of the biggest companies in the world, and though there have been some missteps -- especially towards the end -- he's managed several impressive accomplishments along the way, such as increasing Microsoft's revenue from $25 billion to $70 billion.
Toshiba scores big with a relatively low investment
Investors weren't beating down OCZ's doors to hand the company money, or even a floatation device. Out of options, out of time, and out of cash, OCZ could do nothing but negotiate with the only company showing interest in its assets. That company is Toshiba, which hammered out a deal with OCZ to acquire all of the drive maker's assets in a chapter 11 bankruptcy proceeding for $35 million.
It's the end of an era, folks. If you've been around the PC building block awhile, you'll recall how OCZ Technology started off as an enthusiast memory maker over a decade ago. OCZ ducked out of the struggling DRAM business in January 2011 to focus on the more profitable solid state drive (SSD) market, but even that proved difficult to navigate. With no other recourse in sight, OCZ is filing for bankruptcy.
A recurring theme in the tech industry is that sometimes you have to look backwards in order to move forward. Apple did it when Steve Jobs came back to lead the Cupertino company into a new era of unprecedented riches, Dell's doing it with Michael Dell returning in an attempt to return the No. 3 PC maker back to glory, and now Acer's following the blueprint by bringing in company co-founder Stan Shih after a quarter of record losses.
Google this week announced financial results for the quarter ended September 30, 2013, and investors reacted in positive fashion to the news, sending the company's stock to an all-time high. The Mountain View company reported consolidated revenues of $14.89 billion, an increase of 12 percent compared to the same quarter a year ago. That translated into a quarterly profit of nearly $3 billion, up an impressive 36.5 percent.
Intel this week reported third-quarter revenue of $13.5 billion, operating income of $3.5 billion, and net income of $3 billion (or 58 cents per share), the latter of which represents 48 percent sequential growth. A peek around the web reveals that Intel's profit growth is almost 10 percent higher than Wall Street was expecting, allowing Intel to hush the naysayers during a period of transition to mobile.
Job security is tough to come by these days, even if you're a high-level manager at Microsoft. Check that -- especially if you're a high-level manager at Microsoft. That wouldn't normally be the case, but as the market transitions to mobile, it's being reported that company CEO Steve Ballmer is in the midst of a major restructuring effort, details of which he's hammering out with a small group of confidants and board members.