Apple has never turned “a blind eye” to the problems in its supply chain and any suggestion it does not care about the plight of workers is “patently false,” Apple Chief Executive Tim Cook said in an email to employees. Cook was responding to a report in The New York Times about working conditions at Apple’s main contract manufacturer, Foxconn, in China, an issue that for years has been a thorn in the company’s side.
Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world’s largest social network at between $75 billion and $100 billion, the Wall Street Journal cited unidentified sources as saying on Friday.
Jon Rubinstein, who was instrumental in crafting Apple’s iPod music player, has left Hewlett Packard after two years on the job there. Rubinstein was CEO of smartphone maker Palm when that company was acquired by HP in 2010. He last held a product-innovation role within HP’s Personal Systems Group headed by Todd Bradley.
Samsung Electronics posted a record $4.7 billion quarterly operating profit, driven by booming smartphone sales, and will spend $22 billion this year to boost production of chips and flat screens to pull further ahead of smaller rivals.