BEIJING (AP) — Lenovo Group said Tuesday its quarterly profit declined 5 percent, reflecting the computer maker’s acquisition of the unprofitable Motorola mobile phone business. The company said it earned $253 million, or $2.30 per share, in the three months through December. Revenue rose 31 percent to $14.1 billion. The profit decline reflected the integration…
CommScope Acquires $3B Worth of TE Connectivity’s Business
HICKORY, N.C. (AP) — CommScope is buying TE Connectivity’s telecom, enterprise and wireless businesses for about $3 billion, which will help diversify its operations and broaden its geographic reach. The businesses, made up of 65 facilities and approximately 10,000 employees, had annual revenue of about $1.9 billion in fiscal 2014. It has a strong presence…
SanDisk Shares Slide on Revised Revenue Outlook
NEW YORK (AP) — SanDisk slashed its fourth-quarter revenue outlook Monday due to weaker demand for its chips, and its shares fell sharply in morning trading. The company said sales of its storage products found in stores were weak, as well as sales of its chips used in smartphones and tablets. The flash-memory chip maker…
Xiaomi Boasts Big Boost in 2014 Sales
BEIJING (AP) — The chairman of Chinese smartphone brand Xiaomi, a rising star of the consumer technology industry, says sales more than doubled last year to $12.2 billion and the company plans to expand further into global markets. The 5-year-old company sold 61.1 million handsets, a 227 percent increase over 2013. Revenue rose 135 percent…
Wind Farm Operator PacifiCorp Energy Pleads Guilty in Bird Deaths
Wind farm operator PacifiCorp Energy will pay $2.5 million in fines after pleading guilty Friday to charges related to the deaths of protected birds in Wyoming. The subsidiary of Portland, Oregon-based PacifiCorp pleaded guilty in federal court in Wyoming to two counts of violating the federal Migratory Bird Treaty Act under a plea deal with…
Blackberry Posts Mixed Bag in 3Q
NEW YORK (AP) — Blackberry reported an adjusted profit for its fiscal third quarter, surprising Wall Street. But its revenue fell, missing analysts’ estimates. Its shares declined more than 5 percent in premarket trading on Friday. Blackberry was considered a game changer in 1999 when it launched the RIM 950, which allowed on-the-go business people…
Apple Halts iPhone Sales in Russia as Ruble Sinks
CUPERTINO, Calif. (AP) — Apple has halted online sales of its iPhones, iPads and other products in Russia amid financial turmoil triggered by the steep decline in the country’s currency. The ruble plunged by as much as 20 percent Tuesday, even after Russia’s central bank increased interest rates sharply in an attempt to shore up…
Cypress Semiconductor Acquires Spansion for $1.59B
New York(AP) — Chip maker Cypress Semiconductor is buying flash memory product maker Spansion in an all-stock deal worth $1.59 billion. Spansion stockholders will get 2.457 shares of Cypress stock for every Spansion share they own. Shareholders of each side will own about 50 percent of the new company, which will keep the name Cypress…
Google Data Center Powered by Dutch Wind Energy
Amsterdam (AP) — Google says it will buy the entire output of an 18-turbine, 62-megawatt Dutch wind energy project in the Netherlands to supply power to a major data center it is building. Company officials said Tuesday that Google wants both price certainty and to ensure that the 600 million euro ($750 million) data center…
BlackBerry Beefing Up Mobile-Security, Partnering with Samsung
SAN FRANCISCO (AP) — BlackBerry is expanding its efforts to sell mobile-security software on its rivals’ smartphones and tablets to help counter the waning popularity of its own devices. As part of its strategy outlined Thursday in San Francisco, BlackBerry unveiled several upgrades to its mobile security weapons and a partnership with smartphone market leader…