3 Tech Titans Making Noise: Apple’s Patent War, Sony to Shed Expenses, Nokia Sells Handset Unit to Microsoft
Apple Inc. (NASDAQ:AAPL): Apple has the option to seek a block on Samsung (SSNLF.PK) products after the latest bout in the patent war between the two tech giants. In order to implement the ban on Samsung’s products, however, Apple must prove that the features in question were a factor that customers used in choosing which smartphone to buy, though it doesn’t have to show that it was the single driving factor, the court said in its decision.
Sony Corp. (NYSE:SNE): Sony is looking to shed $100 million worth of expenses from its entertainment unit and has hired Bain & Co. to take a critical look at its strategic options for the branch. The entertainment division has been under close scrutiny since Sony stakeholder Daniel Loeb suggested spinning off the unit, which was met with ripples of support throughout Sony’s shareholder base.
Nokia Corp. (NYSE:NOK): Nokia shareholders have officially approved the sale of its handset unit to Microsoft (NASDAQ:MSFT), with 99.7 percent of the voting body opting in favor of the deal. The $7.2 billion deal will see former Nokia CEO Stephen Elop come to Microsoft early next year to head up an expanded devices and services team at Microsoft; it’s expected that Nokia will use the proceeds to fish for acquisitions.