Tech Business Review: Apple’s iPhone 5 Sales, Microsoft CEO’s Remarks
Vodafone Group Plc (NASDAQ:VOD) reports that it might now set aside reserves to cover legal risks in India, having been reluctant to set aside funds for a $2.2 billion tax bill in that country. Chief Financial Officer Andy Halford says that a recent tax law amendment by the government is prompting his company to see the need for such a provision. A decision on the matter should come by November.
Don’t Miss: Has Apple Already SOLVED This iPhone 5 Problem?
In what is now becoming a sales legend, Apple (NASDAQ:AAPL) says that pre-orders for its iPhone 5 reached above 2 million during the first 24 hours. That figure is double that which was recorded for the iPhone 4S, and also substantially above the range of 1.3 million to 1.5 million that Brian White initially forecast.
Shares of Suntech Power Holdings Co., Ltd. (NYSE:STP) are moving up Monday on the news that the firm will sharply cut solar cell and module output capacity, as part of a plan to reduce costs by 20 percent this year. The firm, whose livelihood has been impacted by a $662 million fraud, will eliminate the jobs of some 1,500 workers, who will either be offered jobs at other locations or will be laid off.
Microsoft Corporation (NASDAQ:MSFT) Chief Executive Steve Ballmer suggested that Microsoft Surface tablets will go for “probably $300 to about $700 or $800”, in an interview with The Seattle Times, adding that the area is to be the “sweet spot” of the PC/tablet market. In another remark, Ballmer referred to Google Inc. (NASDAQ:GOOG) as “just another big company at this stage.”
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