THE WRAP: Intel, IBM, Nokia beat forecasts

18 Jul 2008

It was the week when tech leaders beat the economic gloom and the EU filed a new complaint against Intel.

Intel's profit spiked 25% to $1.6 billion thanks to record orders for notebook PC chips and higher than usual microprocessor shipments. IBM beat forecasts with a 22% higher profit and raised its outlook for the rest of the year.

Nokia also beat the Street and said it expected to increase its global handset market share. The average selling price for a handset slipped to $117 from $125 a year ago.

But AMD CEO Hector Ruiz stepped down after the chipmaker lost $1.19 billion - its seventh consecutive quarterly loss - while Google stock fell as it posted earnings of $4.63 a share, short of an expected $4.74. Net income was up 35% to $1.25 billion on $5.37 billion sales.

The European Commission filed fresh charges against Intel, accusing it of paying a retailer not to stock devices with AMD chips and of paying a PC firm to delay the launch of an AMD-based product.

The EU Consumer Commissioner cracked down on dodgy websites selling mobile ringtones and wallpapers. The commissioner is investigating 500 web sites for imposing extra charges and other misleading practices.

The EC also extended the copyright on recorded music from 50 to 95 years and plans new legislation to cut SMS roaming fees.

BT said it would spend $3 billion on new fiber access networks instead of a buyback program. China Telecom called tenders for its newly-acquired CDMA network.

Apple shipped 1 million 3G iPhones in the first weekend, earning $330 million. A Brazilian blog reported the first successful hack.

Microsoft and Yahoo exchanged more letters. Yahoo rejected a fresh offer from Microsoft, describing MS and Icahn as the "odd couple" in a "marriage of convenience".

Google and Viacom reached a deal on protecting the personal data of YouTube users.

Google may still be contemplating the Gphone.

Australian telco Optus apologized after a sliced cable cut services to thousands of fixed and mobile customers in Queensland and northern New South Wales.

An 18-year-old New Zealand youth was discharged without conviction after causing $20 million in losses in a worldwide computing scam. Former Samsung Group chief Lee Kun-hee was given a three-year suspended jail sentence for tax evasion.

Attendees at World Youth Day, a Catholic festival featuring the Pope, were told to leave the cellphones and iPods at home. And the world's oldest blogger, an Australian woman, died aged 108.

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