Apple Inc results fell short of Wall Street's lofty expectations as a sagging European economy and a pause in iPhone sales ahead of a new version saw revenues slip from the previous quarter.
Shares fell more than 5 percent to $570.81 in late trade after the world's most valuable technology company - which beats expectations with near regularity - reported its second quarterly miss in less than a year.
Apple's suppliers also felt the pain. Shares of LG Display, Toshiba and Hon Hai sank between 5 and 7 percent.
Most European countries have already awarded operators the spectrum they need to provide 4G services, but in the UK an auction has been repeatedly held up by disputes between the various stakeholders. In its auction plan published this week, Ofcom, the UK’s communications regulator, says it expects the process to begin by the end of the year, with bidding to start in early 2013. But a legal challenge that delays it would surprise no one.
Arguments around U.S. family dinner tables may soon go from who talked too much on the phone this month to who used up the family's Internet service.
Thanks to new metered pricing plans for Internet access unveiled by top U.S. cellular providers Verizon Wireless and AT&T Inc families will be able to share a single data allowance for multiple devices. A drawback is the higher price of data in these plans.
Texas Instruments Inc's second-quarter profit beat Wall Street expectations but the company warned that its third-quarter revenue would be weaker than usual for this time of year as customers are cautious due to global economic uncertainties.
Shares of TI, which makes chips for a wide range of products such as cellphones and industrial equipment, fell 1 percent in extended trade after it said Monday that orders weakened in June and that its backlog for shipments due in September is also lighter than expected.
When reporting earnings, Europe’s mobile-phone operators like to headline the growth of their data-services revenues, hoping to distract investors’ attention from the shrinkage elsewhere. But the latest, disappointing set of results from UK-based Vodafone shows just how meaningless that metric has become.
Weakness in Verizon Communications Inc's enterprise business offset a better-than-expected wireless quarter, sending the telephone company's shares down 2.9 percent.
After pushing Verizon's shares up 14 percent so far this year, investors focused in on the wireline miss on Thursday even as Verizon handily beat Wall Street estimates for wireless subscriber growth and profitability.
While earnings per share (EPS) met Wall Street expectations for the quarter, analyst said that wasn't enough.
China, the world's largest mobile phone market, saw a 1.14 percent monthly increase in mobile subscribers to 1.05 billion in June, data from the country's three telecommunications operators showed.
The number of mobile subscribers in China has been growing steadily, with handset vendors such as Apple Inc
Analysts cut their price targets on Nokia to little more than the value of its cash and patents on Friday as hopes fade that phones using new Microsoft software can revive the ailing mobile company anytime soon.
The launch of new Lumia smartphones, expected to start in September, has turned into a make-or-break event for Nokia boss Stephen Elop, the architect of a tie-up with Microsoft which has so far done little to resurrect the firm's challenge to the dominance of Apple's iPhone and Samsung's Galaxy models.
Apple Inc (AAPL.O) and Samsung Electronics Co (005930.KS) began the latest round of their long-running global patent war on Monday as an Australian judge started hearing evidence for an anticipated three-month long trial.
Apple and Samsung have been locked in an acrimonious battle across 10 countries involving smartphones and tablets since April 2011, with the Cupertino, California-based company filing a suit in Australia saying the touch-screen technology used in Samsung's new Galaxy 10.1 tablet violates Apple patents.
Wataniya, Kuwait's No. 2 telecoms operator, reported a 49 percent drop in second-quarter profit on Monday, hit by foreign exchange losses from its Algeria unit and increased domestic competition.
Net profit at the firm, a subsidiary of Qatar Telecom (Qtel) , was 19.1 million dinars ($67.83 million) in the three months to June 30, down from 37.3 million dinars in the same period last year, a company statement said.
The company had 18.3 million customers as of June 30, up 8.3 percent from a year ago.