Apple has announced that its chief financial officer (CFO), Peter Oppenheimer, will step down in September this year.
Samsung is going toe-to-toe with Apple by unveiling its new smartphone, the Galaxy S5, which, like Apple’s iPhone 5S, has a built-in sensor allowing users to unlock their phones with a fingerprint scan. Unveiled on Monday at the Mobile World Congress in Barcelona, Spain, the new model also has an improved camera, a bigger screen, and a built-in heart rate monitor to complement three upcoming devices from its Gear Fit fitness range.
An Apple company spokesman has confirmed that the tech-giant has repurchased USD 14 billion of its stock since it reported disappointing Q1 results. Apple bought USD 12 billion of shares via an accelerated share repurchase program (ASR) and USD 2 billion of shares from the open market, the spokesman said.
Following the news that Apple is being taken to court over patent infringements, arch rival Samsung and mobile communications firm Cisco, have entered a ten-year agreement to share patents. It follows the news that Samsung and Google entered a similar agreement in January. The agreement will allow both Samsung and Cisco to share patents without the fear of being sued for the next ten years.
Apple has been embroiled in another patent battle regarding the iPhone’s emergency phone-dialling feature, the regional court of Mannheim, Germany said. German-patent holding company IPCom is demanding EUR 1.57 billion in damages from the tech giants. The trial, which involves a dispute over two patents, will start on February 11.
Apple on Monday reported sales of 51 million iPhones during the last quarter, the most sold in any quarter, as the mobile phone manufacturer battled to keep up with consumer demand for its products.
Samsung Electronics and internet goliath Google have tied up a 10-year global patent deal. The cross-licensing agreement covers patents owned by the companies, as well as any filed in the next ten years. The companies issued a statement shortly after the deal, saying that the agreement “would lead to deeper collaboration on research and development of current and future projects”.
China Mobile received 1.2 million pre-orders for iPhone devices since December 25, indicating the level of demand for the smartphones ahead of its official launch with the company on Friday. According to CEO Tim Cook, iPhone sales hit a record high in Greater China during Apple’s first quarter in 2013, even without an official deal with the courier.
According to data from Kantar Worldpanel, Apple’s smartphone sales continue to increase month-on-month and accounted for 18.1 per cent of smartphones sold in Europe’s five biggest markets during the three months to November. The strong sales have been attributed to customer satisfaction with Apple’s new iPhone 5S and iPhone 5C models, although weaker demand for the cheaper 5C model still remains a concern.
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