Tech Business: Kindle on Fire, Mac Blows Air, Playbook Dumped
Amazon (NASDAQ:AMZN) reports Kindle sales increased 4X over last year’s Black Friday. However its e-readers are selling at a loss in order to gain content customers. ComScore confirms Amazon’s big day, saying Amazon.com tallied 50% more visitors than any other retailer’s website.
Apple’s (NASDAQ:AAPL) MacBook Air is already the subject of multiple rumors. Given the Air’s huge success to this point, the release of a 15-inch model could contribute to an inventory overhang for ultrabook makers, who appear set to release a surplus of models as it is.
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SINA Corporation (NASDAQ:SINA) is off 3.5%. This is on a WSJ-China report that the firm could be the next target of Muddy Waters research. SINA CEO Charles Chao has served on the board of Focus Media (NASDAQ:FMCN), which was the focus of Muddy Waters in the past.
Russian search engine Yandex (NASDAQ:YNDX) increases its mobile offerings by acquiring privately held SPB Software. SPB is a software developer for smartphones and tablets with offices in Russia, Taiwan and Thailand.
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Groupon (NASDAQ:GRPN) is now down 41% from its post-IPO opening price of $28. Stocks are rallying although Groupon’s fall could give pause to Yelp, another big name in the local commerce space, as it prepares to go public.
Best Buy (NYSE:BBY) on Research In Motion’s (NASDAQ:RIMM) PlayBook; is BBY giving up? Many online buyers are reporting cancelled orders, and PlayBook listings on Best Buy’s web site have been pulled. The PlayBook has seen terrible sales this year, and the release of Amazon’s (NASDAQ:AMZN) Kindle Fire (also a 7-inch tablet) may prove to be it’s one archrival.