Tech Rewind: Nokia Too PRICEY For China, Facebook’s Building PLANS
ZTE and Huawei, local phone vendors in China, are said to be reluctant to offer domestic versions of the Windows Phone (NASDAQ:MSFT), pointing to its more expensive hardware as the reason. Android phones go for CNY1,000 ($157) or less, which accentuates the problem that Nokia (NYSE:NOK) faces as it competes with lower priced Android hardware in emerging nations, while sales of Symbian and feature phones plunge.
Don’t Miss: FRESH LEAK: iPad Mini Due This Fall.
H-P (NYSE:HPQ), may be laying off 27,000 employees so that it might achieve $3 billion to $3.5 billion in annual cost savings, but the company still maintains a fleet of 7 corporate jets, which is estimated by one observer to cost H-P $30 million a year. CEO Meg Whitman has attempted to remove executive perks that could alienate the rank-and-file, including large offices and an exclusive parking lot, but the jets remain.
The Asia-Pacific Gateway is now being backed by Facebook (NASDAQ:FB) as well as Google (NASDAQ:GOOG), and a number of Asian carriers. The initiative has a goal of constructing a giant undersea fiber network that will join the region’s major economies. Facebook has recently announced that it will build its own content delivery network, in a year in which it intends to almost triple its capital expenditures to $1.7 billion.
Don’t Miss: Here’s A Mobile Leg-Up For Facebook and Google.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.