Tech Business Recap: Nokia LINKS UP With Harman, AT&T’s NEW Chicago Store
Peter Heiland has been appointed the new chief executive of KIT Digital, Inc. (NASDAQ:KITD), to replace the recently named Barak Bar-Cohen, according to a Securities and Exchange Commission filing (8-K). The new executive owns about 8 percent of the company, through JEC Capital Partners.
Nokia Corporation (NYSE:NOK) is linking up with Harman International Ind. Inc. (NYSE:HAR), which supplies audio and “infotainment” systems, in the development of wireless audio products for the former’s Lumia smartphones. Bluetooth will be utilized to establish connectivity, and, in Windows 8 phones, near field communication. One of the devices, the JBL PlayUp speaker, should be ready to ship before the end of 2012, and will be priced at €149.
AT&T, Inc. (NYSE:T) will move in at Chicago’s renowned Magnificent Mile, launching a 10,000 square-foot flagship store on September 1st. This new Michigan Avenue location will offer customers insight into the future, which will feature the company’s first retail demonstrations of the new AT&T Digital Life home security and automation services along with a connected car that shows how wireless tech can assist driving. Equipped with more than 100 digital screens throughout the store, every aspect of the location is designed to educate customers regarding future wireless technologies and services.
Shares of Facebook (NASDAQ:FB) are in positive territory in mid-afternoon, but still below $20, subsequent to positive comments and a CNBC appearance by Gene Munster at Piper. Munster is plainly an Apple booster, but contends that Facebook shares are trading at the largest discount to future potential growth of any other large-cap tech name. Further, he is encouraged by the success of Facebook’s mobile Sponsored Stories ads, and also believes that its pending intro of a “Want” button is a good thing.
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