Tech wrap: Basic phones lift Nokia to profit

October 20, 2011

The world’s largest cellphone maker Nokia reported a smaller than expected fall in third quarter profits as price cuts and new models lifted sales of its basic cellphones in key markets like India. Shares in Nokia jumped on the surprise profit.

Some potential buyers of Yahoo Inc are balking at the Internet company’s demands for confidentiality that would prevent them from discussing joint bids, according to several people close to the situation.

Microsoft Corp used its monopoly position in computer operating systems to block the PC-sharing business of MiniFrame Ltd, according to a lawsuit filed by the small Israeli technology company.

EBay Inc reported profit that matched Wall Street estimates and gave a restrained outlook for the rest of the year because of economic uncertainty. The news sent its shares lower.

Search giant Google is deepening ties with Asian electronics powerhouse Samsung Electronics, the largest Android seller, which is also set to overtake Apple as the world’s biggest smartphone vendor in the third quarter. “The Asian market is very important. Especially some of the countries are really emerging with smartphones and we are very excited about the opportunity,” Won-pyo Hong, executive vice president for Samsung’s global product strategy, said on the sidelines at the All Things D technology conference in Hong Kong.



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