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Bleeding JVC Finally Finds A Rescuer

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JVC, which has been bleeding losses for a long time, and Kenwood are finally getting hitched in an effort to save the troubled company The two companies have formally agreed to join their car electronics and audio equipment businesses, while considering a complete business merger in the future, according to reports out of Japan.

As part of their alliance, JVC will issue $288.7 million in new shares, selling $164.9 million worth to Kenwood and $123.7 million to Sparx Group, Kenwood’s top shareholder.

The new shares will reduce Matsushita Electric Industrial’s stake in JVC to 37 percent from 52 percent, allowing it to stop treating JVC as a consolidated subsidiary and handle it as an equity-method affiliate. JVC’s net results will be reflected only in Matsushita’s bottom line when the deal is completed, with sales and other results remaining unaffected by JVC, the companies said in a joint statement.

The announcement comes after reports of on-again, off-again bids by outside suitors for a portion of Matsushita’s stake in the electronics company. Kenwood was an early bidder for Matsushita’s JVC stake and then dropped out before U.S. equity firm TPG reportedly came up with the high bid for the stake.

But Matsushita, Kenwood and JVC continued to work on alternative solutions that were more attractive to all three companies.

Also on Tuesday, JVC reported that its group net loss deepened in the April-June quarter due in large part to continued price compression in consumer electronics products.

The company posted a group net loss of $106.8 million, compared with a group net loss of $28 million a year earlier.

Group sales declined 9.7 percent to $1.3 billion from $1.45 billion. For the fiscal year to March, JVC revised its earnings downward. The company said it now expects a group net loss of $141.8 million, deeper than its previous forecast for a 486.6 million loss. It also revised downward its group sales outlook to $610 million, compared with its May sales outlook of $626 million.

 

Woolworths Won’t Get Hands On OfficeWorks Claims ACCC

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Woolworths will be blocked from getting its hands on the highly sought after Officeworks if the Wesfarmers bid to buy Coles falls through claims the Australian Competition and Consumer Commission (ACCC).

This would leave the way open for both JB Hi-Fi and Harvey Norman to enter the fray and bid for the OfficeWorks operation. Woolworths has flagged its interest in Coles’ general merchandise brands, if a proposed all-of-company takeover by Wesfarmers falls through.

ACCC chairman Graeme Samuel said an acquisition of Officeworks by Woolworths would not be likely to substantially lessen competition.

This is because Woolworths does not presently operate a similar business to Officeworks, so there would be limited competitive overlap, he said in a statement.

“However, Woolworths’ proposal is not for an acquisition of Officeworks in its own right, but for an acquisition of both Kmart and Officeworks, Mr Samuel said.

“Given the ACCC’s decision to oppose the proposed acquisition of Kmart, it also opposes the combined acquisition of Kmart and Officeworks.”

Woolworths had requested the ACCC assess its proposed acquisition of Officeworks and either Kmart or Target.

The ACCC separately assessed both proposed acquisitions to determine whether either would be likely to lead to a substantial lessening of competition.

“The ACCC’s investigation found that the proposed acquisition by Woolworths of Kmart, Big W’s closest competitor in a number of important respects, would be likely to substantially lessen competition in a number of markets,” Mr Samuel said.

“The ACCC is particularly concerned about the effect of the proposed acquisition of Kmart in markets for the retail of basic footwear, men’s basic apparel, women’s basic apparel, children’s basic apparel, toys, books and DVDs.”

Mr Samuel said if Woolworths were to acquire Kmart, there would be a reduction in “competitive tension in the relevant markets”.

Higher retail prices for consumers were the likely result.

However, the ACCC has extended its timeline to allow further consideration of the proposed acquisition of Target by Woolworths.

It will still announce its assessment of that proposal before November 7 when Coles shareholders will vote on the Wesfarmers takeover.

The ACCC has already announced it does not oppose Wesfarmers’ proposed takeover of the Coles empire through a cash-and-scrip offe

Philips Linked With Church Of Scientology

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Consumer Electronic Company Philips and Dell has been linked with the Church of Scientology via a video that has already attracted over 70 million hits.

The video which is available on YouTube hinted that Philips  might be part of a vast network of dissemination for Scientology-related literature and booklets. Also named was Dell. Philips Electronics spokesman did not deny the links but did say:  “We were as stunned as anybody.  It’s not something we were aware of. As an equal opportunity employer, religion is not something we comment on.”

A Dell Inc. spokesman:  “This came to our attention yesterday. We did research it with our colleagues in our Europe, Middle East and Africa business segment and with our colleagues in South Africa.  We found no evidence that this is accurate, and it’s not our practice to disseminate religious materials of any kind. We’ve got no affiliation with the Church of Scientology.”

Several of the spokespeople noted that in the video, Miscavige uses slippery language to avoid directly saying the corporations took part in any distribution efforts. 

Then there’s our corporate tie ins. The multinationals tend to have Third World image problems, so this is what they’re doing about it–Coca Cola Pakistan with a braille edition for the blind, nationally televised no less. Philips Electronics, likewise all over Pakistan, and Dell Computers all over Africa.

Aircraft Wi Fi Ban Following Bomb Discovery Tipped

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Airlines such as Qantas and Virgin may have to delay plans to install in-flight Wi-Fi on their aircraft following the discovery at the weekend of several bombs which experts claim could easily be set off using an onboard Wi Fi network. The move will be a blow to people who want to use tablets on aircraft


The Daily Telegraph in the UK said that mobile phones have long been used by terrorists to remotely detonate explosives, by calling or texting the handset, and there are now concerns that by allowing people to use mobile devices during flights could enable terrorists to easily activate a bomb.
 
In-flight Wi-Fi gives would-be bombers ample opportunity to contact explosive devices hidden on an aircraft, said Roland Alford, managing director of an explosives consultancy firm.

“If it were to be possible to transmit directly from the ground to a plane over the sea, that would be scary,” he told New Scientist. “Or if a passenger could use a cellphone to transmit to the hold of the aeroplane he is in, he could become a very effective suicide bomber.”

Experts discovered mobile phones packed in with explosives in the printer bombs that were discovered on cargo planes last weekend. It is not yet clear whether the phones would have worked as timers, or whether they would have been activated remotely by terrorists calling or texting the phone.

But companies who have invested heavily in developing in-flight Wi-Fi systems have defended the technology.

“There are many ways of coordinating an attack without using a mobile phone,” said Aurelie Branchereau-Giles, a spokesman for OnAir, which makes in-flight Wi-Fi equipment.

“The position of our security experts is that the use of mobile phones on planes does not constitute any additional security threat.”

Google Delivers 32% Jump In Profits

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Google who are set to launch their Google Chrome OS up against Microsof’s Windows shortly has announced third quarter profits of $2.2 billion a 32 per cent jump on the same period in 2009. Helping them is Google Android and mobile aqdvertising.

Google who are set to launch their Google Chrome OS up against Microsof’s Windows shortly has announced third quarter profits of $2.2 billion a 32 per cent jump on the same period in 2009. Helping them is Google Android and mobile aqdvertising.
Google hit $7.63bn in sales during the period.
The results were announced during a Q3 results call, which surpassed the lofty forecasts from Wall Street and sent the share price up by 9 per cent by the end of trading in New York at the weekend.
Google says a 3 per cent increase on what it charged Google Ads partners on top of a rise in the amount of clicks on those ads were responsible for the year-on-year leap.
“Google had an excellent quarter,” read a statement by CEO Eric Schmidt. “Our core business grew very well, and our newer businesses – particularly display and mobile – continued to show significant momentum.”
Continued growth in Google’s Android mobile operating system, likely to boast 17.7 per cent of the market by the end of 2010 is likely to see the company’s coffers swell further in the next few months.
The company also revealed that it had increased its workforce by more than 1,500 during the period.

Mobile Phone Shipments Rise 43%

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Shipments of mobile phone displays rose 43 percent in the first quarter of 2006 to 274.6 million main displays and 58.6 million sub displays, according to market research firm DisplaySearch.

 DisplaySearch said in a recent report that mobile phone display Samsung SDI was the leading supplier of 45.9 million units, or 16.7 percent of the market. Trailing Samsung SDI were Sanyo Epson, Philips, Sharp, and Wintek.

The firm noted that Samsung and Philips were strong in color super-twisted-nematic (STN) display sales, while Sanyo, Sharp, and Wintek were strong in active-matrix LCDs.

The largest mobile phone display user in the first quarter was Nokia, with 32.9 percent, followed by Motorola, Samsung, LG, Sony Ericsson, and BenQ.

“The mobile phone display market continues to grow, paced by the higher end displays of 2.0 inches and above,” said DisplaySearch senior vice president Barry Young, in a statement.

Plasma TV Shortages Set To Hit

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Low plasma TV street pricing has boosted plasma panel shipments to a record 1.9 million the third quarter, according to market research firm DisplaySearch.

PDP module shipments rose 37 percent sequentially and 118 percent year-to-year the third quarter, said DisplaySearch in its quarterly PDP module and TV shipment and forecast report. The strong demand and the recent termination of production at four older fab lines have turned a first-half surplus into a looming second-half shortage.

The firm noted that with PDP supply growth at less than half the rate of 2005 supply, double-digit plasma display shortages are possible by the fourth quarter of 2006. Slower supply growth will cause shortages to persist and prices to fall more slowly, which will open the door for the LCD TV industry to narrow the price gap and increase their market share. DisplaySearch expects PDP makers to consider accelerating their capacity investments in order not to choke off demand.

In the third quarter, average weighted PDP TV prices sunk below $1800 for 42-in. enhanced-definition units, less than $2700 for 42 to 43-in. high-definition units, and less than $3800 for 50-in. units. Fourth-quarter PDP shipments are projected at 2.3 million units. Plasma display revenue totaled $1.6 billion the third quarter, up 57 percent year-to-year and 29 percent sequentially, according to DisplaySearch.

Matsushita was the fastest growing PDP module supplier for the second quarter in a row. Its 49% quarter-over-quarter growth increased its market share from 25 to 27 percent, narrowing the gap with Samsung SDI, which remained the leading PDP supplier with a 29.5 percent share.

Another Reprieve For BlackBerry

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A U.S. judge has delayed ruling on the shutdown of the BlackBerry wireless e- mail service, giving the company that developed it – and its millions of owners another reprieve in a long-running patent dispute.A U.S. judge on Friday delayed ruling on the shutdown of the BlackBerry wireless e- mail service, giving the company that developed it – and its 3.2 million users in the United States – another reprieve in a long-running patent dispute.

 
Judge James Spencer of U.S. District Court in Richmond declined to rule on an injunction that would have forced the BlackBerry’s developer, Research In Motion, to terminate the popular service and escalated its long-running dispute with NTP. The judge said he was disappointed that Research In Motion and its adversary, NTP, had not been able to reach a settlement. He said he would first rule on the damages in the case before ruling on a shutdown.
 
“I am absolutely surprised that you have left this incredibly important and significant decision to the court,” Spencer said toward the end of a hearing that lasted almost four hours. “I have always thought that this decision, in the end, was a business decision.”
 
A few hours earlier, the U.S. Patent and Trademark Office issued a final rejection of the third NTP patent that forms the basis of the company’s case against RIM, which is based in Waterloo, Ontario. The three rulings are subject to lengthy appeals, and Spencer has said they would not influence the progress of the case he is overseeing.
 
News of the delay in imposing an injunction on the BlackBerry e-mail service sent shares of RIM rising $4.52 to close at $74.05 on the Nasdaq stock market.
 
Investors have been anxiously following the legal dispute, as have users of the BlackBerry, which include members of Congress, White House officials and Wall Street bankers, who are concerned that the service they rely on, and some acknowledge being addicted to, may be hampered.
 
The courtroom here was filled to capacity with reporters and lawyers, and news trucks lined up early in the morning near the courthouse to prepare for the hearing. Some news organizations sent representatives to the courthouse as early as 3 a.m. to secure a spot in the courtroom.
 
After the hearing, a lawyer for RIM said it was important not to disrupt what has become a vital telecommunications service.
 
“Remember the test here was, will an injunction hurt the public interest,” said the lawyer, Henry Bunsow.
 
NTP, which is based in Arlington, Virginia, is seeking a percentage of RIM’s revenue for the life of its patents, an amount estimated by analysts at $1 billion.
 
“We want to keep you in business,” James Wallace, an attorney for NTP, said in reference to RIM. “It’s just time to pay up. What we have got here is a squatter.”
 
Even if it had lost Friday, RIM says it has developed a workaround that would allow its users to continue to receive and send e-mail without relying on technology based on the disputed patents. Users would have to download a new piece of software to their devices for the alternate system to work. NTP is expected to challenge the legal validity of the workaround.
 
Any shutdown would not have stopped service provided to the government and certain emergency workers, like those for the Red Cross. The shutdown also would not have affected the one million BlackBerry users in Canada, Europe and the rest of the world.
 
Some corporate and individual users of the BlackBerry service have purchased competing devices made by Nokia and Motorola, but many were expected to rely on RIM’s workaround. Analysts have questioned how quickly RIM would be able to move users to the alternate system, details of which the company has refused to share, and whether it would be as fast and hardy as the company’s current technology.
 

World Smallest Projector From BenQ

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Benq is not frightened of being bold but this prodct takes the cake for being the smallest of smallest in prpjectors. It’s set to be shown at the CEBit Show in Europe this week.Just days bfore the CeBIT show in Germany.  BenQ has come up with this ultra-cool portable projector the BenQ CP120. Touted as the world’s smallest wireless DLP Projector the CP120 is about the size of a B5 sheet and will be swhown on the BenQ stand. 

The neat part is, you can not only use it at office for your presentations, you can carry it home and set up your own entertainment system to enjoy big-screen movies. Measuring just 218 x 172 x 61 (mm), the CP120 weighs 1.3 kg.

IEEE 802.11 a/b/g protocols are supported, and the bundled software allows you to easily switch connections.

The CP120 is equipped with quick cooling hardware – cooling now takes 1/3 of what it takes with a regular projector. BenQ even claims a 3000-hour lamp life. BenQ’s website.

BenQ CP120 World's Smallest Wireless DLP Projector

Intel To Build In 3G

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Intel has joined forces with the GSM Association to enable laptops to connect seamlessly to high-speed 3G broadband data and Wi-Fi networks using the same SIM card technology currently deployed in cellular phones.