 | Good afternoon Bit |  |  | 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.
Sprint had a rough start to the week and an even rougher end to it. The No.3 U.S. wireless carrier Sprint Nextel signaled on Friday that it could spend more money than it brings in over the next few years, even without accounting for the high costs of selling the Apple iPhone, sending its shares down 13 percent. On Monday, the Wall Street Journal reported that Sprint would likely lose money on its deal to sell the iPhone until 2014. Sprint outlined a plan on Friday to spend $7 billion on a network upgrade, which it said it would pay for with cash from its balance sheet and by raising capital. The company refused to address the cost of selling the iPhone.
If you were one of the keeners waiting for the clock to strike 12:01 a.m. PT so you could pre-order your Apple iPhone 4S, there was a good chance you may have had a bit of trouble. CNet reports that pre-orders of Apple's latest smartphone were beset by a slew of problems. For starters, Apple, AT&T and Sprint were late opening their digital doors to customers looking to buy the new device. On top of that, both Apple and AT&T's sites were having trouble processing orders from customers looking to upgrade, presenting them with error messages. Perhaps it's no surprise: both Apple and carriers ran into similar issue last year with the release of the iPhone 4.
Doubtful that Groupon remains committed to an initial public offering after the recent accounting mini-scandal, a slew of cash-outs by early founders and investors and an overall economic environment that remains uncertain? Don't be. At least that's the message the online daily deals firm sent when it filed an updated version of its IPO paperwork with the SEC on Friday. As GigaOm reports, the latest filing details the company's plans to tighten up its marketing budget and shows that its revenue bookings increased slightly in the second quarter.
Microsoft secured approval of its Skype acquisition from European authorities. that the firms' activities mainly overlapped for video communications, where Microsoft is active through its Windows Live Messenger."However, the Commission considers that there are no competition concerns in this growing market where numerous players, including Google, are present," it said in a statement.
Netflix and AMC Networks have signed a new licensing agreement that gives the popular streaming video service exclusive rights in the United States and Canada to the hit show "The Walking Dead." | | | LATEST NEWS | | Sprint faces cash burn, investors flee | | October 07, 2011 02:38 PM ET | | NEW YORK (Reuters) - Sprint Nextel Corp signaled that it could spend more money than it brings in over the next few years, even without accounting for the high costs of selling the Apple Inc iPhone, sending its shares down 13 percent. | Full Article | | | BUSINESS NEWS
| | Wall Street fends off bear to end higher for week | | October 07, 2011 04:42 PM ET | | NEW YORK (Reuters) - After nearly falling into bear-market territory, U.S. stocks on Friday finished the week higher, building gains on encouraging jobs data and hopes that Europe is dealing with its debt crisis. | Full Article | | Germany, France split on bank aid before summit | | October 07, 2011 05:27 PM ET | | BERLIN/PARIS (Reuters) - Germany and France were split ahead of crucial talks on Sunday over how to strengthen shaky European banks and fight financial market contagion to prepare for a possible Greek default. | Full Article | | Disney's Iger to leave CEO post in 2015 | | October 07, 2011 05:39 PM ET | | LOS ANGELES (Reuters) - Walt Disney Co Chief Executive Bob Iger will step down as CEO in March 2015 after nearly a decade at the helm, setting in motion a succession plan for the largest U.S. media and entertainment company. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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