Apple refreshed its lineup of iMac computers with new Intel processors that it says are up to 70 percent faster and with USB-like ports that are up to 20 times as fast. Thunderbolt ports support displays and devices. The new iMacs also feature a new HD Web camera. Apple said the iMacs are on sale online and at its retail stores starting at $1,199.
RIM showed off a new version of its BlackBerry Bold phone with upgraded software, aiming to regain its stride after last week’s profit warning and other recent stumbles. RIM also said it will manage corporate and government communications sent using Apple’s iPhone and iPad, and devices running Google’s Android software, through its secure BlackBerry Enterprise Server.
Research in Motion shares tanked to their lowest level since October after the BlackBerry maker slashed its sales and earnings forecasts Thursday, an unexpected blow that followed an anemic forecast in late March and last week’s troubled launch of its PlayBook tablet. “We’ve heard for too long about RIM’s great product roadmap. Consumers are not listening nor waiting,” National Bank analysts said in a note. “RIM does not even seem to have dual cameras on its upcoming BlackBerry product line-up. The last time we checked, video is the future.” All hope seems to rest on what the Canadian company pulls out of its labs and onto center stage at BlackBerry World, starting Monday, where the company will unveil a new generation of touchscreen BlackBerrys.
Apple denied it is tracking the movements of its iPhone customers, but said it will provide a software update that stores less location information on phones in response to public outcry over privacy issues. Apple plans to release a software update that would cut the size of the wireless hotspot location database stored on its iPhones, and stop backing up that information. The software will be released in the next few weeks, it said.
Apple has completed work on an online music storage service and is set to launch it ahead of Google, whose own music efforts have stalled, according to several people familiar with both companies’ plans. The sources revealed that Apple’s plans will allow iTunes customers to store their songs on a remote server, and then access them from wherever they have an Internet connection and that Apple has yet to sign any new licenses for the service and major music labels are hoping to secure deals before the service is launched. Amazon.com launched a music locker service earlier in April without new licensing agreements leading to threats of legal action from some music companies.
Intel forecast quarterly revenues well above Wall Street’s estimates despite a hiccup in sales of its Sandy Bridge processors after the discovery of a chipset design flaw and defying fears the world’s top chip maker is struggling to find its footing as personal computer sales growth wanes.
Google’s stunning 54 percent spending surge spooked investors already worried its new CEO Larry Page may take his eye off the bottom line to chase revenue growth, driving its shares more than 5 percent lower. Investors zeroed in on the stunning surge in expenses to $2.84 billion, which dwarfed a 29 percent jump in net revenue and reflected a record hiring spree, company-wide salary raises, and splurging on everything from marketing to technology. “If the expenses are targeted and result in future revenue streams, then good for Larry. If not, that results in an undisciplined spending approach”, said Colin Gillis, analyst at BGC Partners.
Apple’s iPhone 5 isn’t expected to hit the market until Christmas or early next year, according to Business Insider’s Jay Yarow. Avian Securities said in a note, based on conversations with a “key component supplier” to Apple, that the the iPhone 5 should go into production in September and that Apple could also be developing a lower price/lower spec iPhone model, Yarrow writes.