BEIJING/BENGALURU (Reuters) - Baidu Inc's shift to smartphones has come at a cost: the Chinese internet firm forecast lower-than-expected revenue growth for the first quarter as its share from less profitable mobile browsing grows at the expense of PC searches.
Baidu shares fell more than 9 percent in after-hours trading in New York after it also posted a lower-than-expected 47.5 percent rise in fourth quarter revenues. Its revenue forecast of 12.65-13.07 billion yuan ($2-$2.1 billion) for the current quarter came below analysts' average expectations of 13.62 billion yuan.
MUMBAI (Reuters) - Samsung Electronics Co Ltd's first smartphone to run on its own operating system received a frosty welcome after its launch in India, with reviewers and consumers criticising its low-resolution cameras and dearth of software applications.
The South Korean giant's latest handset stands out not so much for its no-frills specifications but for what lies under the hood - the Tizen operating system Samsung has developed to rival Google Inc's Android platform.
HONG KONG/BEIJING (Reuters) - Mark Zuckerberg and Xiaomi Inc CEO Lei Jun discussed a potential investment by Facebook in China's top smartphone maker ahead of its $1.1 billion fundraising last month, but a deal never materialized, several people with knowledge of the matter told Reuters.
WASHINGTON (Reuters) - U.S. Federal Communications Commission chairman Tom Wheeler urged consumer advocates and wireless industry representatives last week to address how wireless carriers might be allowed to "reasonably manage" their Internet networks.
The issue is at the heart of a debate over whether the FCC should undo exemptions applied to mobile carriers as it rewrites Internet traffic regulations, after an appeals court rejected its 2010 rules in January.
By Paul Carsten
BEIJING (Reuters) - Baidu Inc launched on Wednesday a service that helps retailers advertise on the smartphones of nearby users as China's dominant search engine company expands its location-based technology to drive growth.
Baidu currently makes most of its income from desktop-based search advertising and has lagged peers such as Tencent Holdings Ltd in capitalizing on the popularity of mobile internet in China, the world's largest market for smartphones.
SINGAPORE - In 1Q 2014, the worldwide mobile service revenue increased 0.58% year-on-year (YoY) to US$264 billion according to ABI Research, and the aggregate service revenue for 2014 will grow 2.9% YoY to US$1.01 trillion, mainly driven by the robust growth of the mobile Internet market. Proliferating mobile data subscriptions and enhanced network capacity will drive global mobile Internet service revenue to US$456.7 billion by 2019—44.7% of total mobile service revenue.
BEIJING (Reuters) - China's Lenovo Group said first-quarter profit jumped 23 percent, beating estimates, as a surge in smartphone sales showed how quickly the world's biggest personal computer maker is transforming itself into a major player in mobile technology.
Beijing-based Lenovo said on Thursday net income climbed to $214 million in the three months through June from $174 million in the same period a year earlier, the opening quarter of its fiscal year. That was ahead of estimates of $202 million, according to a Thomson Reuters SmartEstimate poll of analysts.
WASHINGTON (Reuters) - Verizon Communication Inc's high speed wireless customers who subscribe to the company's legacy unlimited data plans might experience slower speeds starting Oct. 1, the company said on Friday.
The announcement comes as wireless carriers attempt to shift data-hungry subscribers onto tiered plans, which charge customers for individual data packages.
Verizon will slow services for the top 5 percent of data users who are on unlimited plans in places where the network is experiencing high demand, the company announced on its website.
SAN FRANCISCO (Reuters) - A U.S. consumer lawsuit accusing Google of monopolizing prime real estate on Android smartphones will help mobile rivals like Microsoft make their antitrust case with European regulators should damaging secrets emerge in court.
The suit, filed in California federal court in May by two smartphone consumers, said Google requires handset manufacturers such as Samsung Electronics Co Ltd <005930.KS> to restrict competing apps like Microsoft's Bing search on Android phones, partly by making Google's own apps the default.
(Reuters) - Google Inc <GOOGL.O> <GOOG.O> is the best placed of any company to benefit from the shift to mobile, increased local advertising and wearables, analysts said after the search giant posted its 18th straight quarter of 20 percent-plus revenue growth.
At least eight brokerages raised their price targets on the stock on Friday by as much as $75, to a high of $745.
Google shares were up 2 percent at $593.37 in early trading on the Nasdaq.