Apple said it sold 4 million iPhone 4S devices in the new smartphone’s first three days on the market, setting up a strong December quarter for the world’s largest technology company. Helped by availability in more countries and on more telecommunications carrier networks, the iPhone 4S, which went on sale last Friday, managed to outshine the iPhone 4, which sold 1.7 million over its first three days. Unveiled just a day before Steve Jobs died, it was initially dubbed a disappointment, partly because it looked identical to its predecessor. But anticipation of its “Siri” voice software helped it set an online record in pre-orders on October 7.
PayPal is once again caught in the crosshairs of prominent hacker collectives Anonymous and LulzSec. The two groups released a joint statement on document-sharing website Pastebin on Wednesday urging their supporters who use the eBay-owned online payment service to close down their accounts in protest at the site’s continued refusal to process donations to whistleblower site WikiLeaks.
Microsoft reported a greater-than-expected 30 percent increase in fiscal fourth-quarter profit, helped by sales of its Office software, but profit from its core Windows product fell on soft PC sales. Microsoft posted net profit of $5.87 billion, or 69 cents per share, compared with $4.52 billion, or 51 cents per share, in the year-ago quarter. That easily beat Wall Street’s average estimate of 58 cents, according to Thomson Reuters I/B/E/S.
U.S. antitrust regulators started a formal investigation into whether Google abuses its market power by favoring its own services over those of rivals in online searches and through other practices. The company has been accused of anticompetitive practices by other companies doing business online. “It’s still unclear exactly what the FTC’s concerns are, but we’re clear about where we stand,” Google said on its official blog. “Since the beginning, we have been guided by the idea that if we focus on the user all else will follow.”
The LulzSec group of rogue hackers threatened to steal classified information from governments, banks and other high-ranking establishments, teaming up with the Anonymous hacker activist group to cause more serious trouble in an escalation of their cyber attacks.
Apple CEO Steve Jobs emerged from medical leave to launch an Internet-based service for consumers called the iCloud, which lets users play their music and get access to their data from any Apple device. Jobs walked briskly onstage after James Brown’s “I Got You (I Feel Good)” blasted over the sound system, but shared the spotlight with other Apple execs who showcased Apple’s enhancements to its PC operating system and mobile platform.
Online coupon company Groupon filed for an initial public offering of up to $750 million, the latest in a series of Internet companies to tap the U.S. capital markets. In April, a source told Reuters that Groupon could raise as much as $1 billion in the IPO, which could value the fast-growing daily deals site at $15 billion to $20 billion. The IPO filing did not specify the number of shares to be sold in the IPO, the price range, or the exchange, though it did say the shares would trade under the symbol “GRPN.”