Tech Business Report: Tim Cook Apologizes, Facebook Climbs On Gifts

Apple (NASDAQ:AAPL) Chief Executive Tim Cook has commented on his company’s iOS 6 Maps application: “We strive to make world-class products that deliver the best experience possible. With the launch of our new Maps last week, we fell short on this commitment.” Cook reiterated Apple’s commitment to the application and suggested that unhappy users try the App Store along with Web alternatives. However, a Google Maps (NASDAQ:GOOG) application for the App Store seems to remain months in the future.

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Shares of Facebook (NASDAQ:FB) move up substantially on Friday after Gifts was introduced which arguably represents the firm’s first serious attempt to directly benefit from e-commerce. Further, Topeka says that its checks suggest that Facebook’s mobile Sponsored Stories ads are doing well; they were recently the subject of a positive JPMorgan note as well.

Nokia Corporation (NYSE:NOK) slashes the price of its Lumia 800 by 15 percent on the Continent for the second time in September so as to reduce the inventory prior to the November intro of the Lumia 820, which will run Windows Phone 8 (NASDAQ:MSFT). The more expensive Lumia 900 has received a 10 percent price cut while Nokia announces ‘premium pricing’ for its successor.

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