It’s no secret that Samsung’s flagship Galaxy smartphones are leading the Android-powered pack of handsets. What may be less obvious is just how quickly the company is closing in on Apple’s title of world’s biggest smartphone vendor in unit terms. Samsung announced on Friday it expects its third-quarter profit to top even the most bullish market forecasts, driven in large part by booming smartphone sales. “The Galaxy S II probably played a key role in boosting the company’s earnings and it will continue to do so pretty much unchallenged, until Apple unveils a better new version of iPhone,” said Kyung Woo-hyun, a fund manager at Daishin Asset Management.
Google bought Zagat, the popular dining recommendations and ratings authority, jumping into a niche Web market alongside the likes of OpenTable and Yelp. The 32-year-old Zagat, which polls consumers and compiles reviews about restaurants around the world, will become a cornerstone of Google’s “local offering” and work in tandem with its mapping services and core search engine, the Internet search and advertising leader said.
So, Apple can survive without Steve Jobs as CEO after all. At least that’s the message that was sent by Apple investors today. Apple shares, which took a beating in after-hours trade on Wednesday after the company announced Jobs’s departure, stabilized on Thursday and were down about 1 percent. Investors, at least for now, appear convinced that Apple can keep churning out blockbuster products and oversized profits with new CEO Tim Cook in charge.
Google has agreed to pay $500 million to settle a probe into ads it accepted for online Canadian pharmacies selling drugs in the United States, the U.S. Justice Department said on Wednesday. The forfeiture is one of the largest ever in the United States, according to the DOJ. It represents Google’s revenue from Canadian pharmacy advertisements to U.S. customers through Google’s AdWords program and Canadian pharmacies’ revenue from U.S. sales.
Cisco Systems Inc’s quarterly results edged past Wall Street’s scaled-back expectations as IT spending held up despite fears of a severe pullback, buoying its shares in extended trading. The world’s largest networking equipment maker reported sales of $11.2 billion in the fiscal fourth quarter, surpassing expectations for under $11 billion.
Google’s Android platform has taken almost 50 percent of the global smartphone market, dominating in the Asia-Pacific region, research firm Canalys said. It was the number one platform in 35 of the 56 countries Canalys tracks, resulting in a market share of 48 percent, the research firm said. By comparison, Apple, which shipped 20.3 million iPhones, is a distant second with a market share of 19 percent but it overtook ailing handset maker Nokia as the world’s largest individual smartphone vendor.