Best Buy's Price Matching Strategy Helps As Turnaround Efforts Drag On
Electronics retailing giant Best Buy announced its Q4 and annual results on March 1. The company reported Q4 revenues of $16.71 billion, marginally higher than $16.67 billion in the comparable period last year. It managed to bring down the net quarterly loss to $409 million from $1.81 billion in the fourth quarter of 2011. Best Buy's results were stable in the fourth quarter due to 11% growth in online sales driven primarily by the price matching strategy in the holiday season.
Samsung's Galaxy Note III rumored to feature 5.9-inch display, eight-core processor
Samsung (005930) isn't afraid to take chances with its Galaxy Note line of smartphones. The company previously introduced 5.2-inch and 5.5-inch models, and may go even bigger with the upcoming Galaxy Note III. According to a report from The Korea Times, Samsung is said to be working on a smartphone with a 5.9-inch display to compete with similar sized devices from Huawei (002502) and ZTE (0763). The handset will reportedly be equipped with a new eight-core Exynos 5 Octa processor and is expected to be released in the second half of the year. The Korea Times notes that due to supply chain constraints, the Galaxy Note III will not feature flexible display technology. The latest report contradicts earlier rumors that suggested Samsung's
T-Mobile fires back at AT&T in attack ads
Prepare for a new war of words between AT&T and T-Mobile. [Read more]
EU Commission to propose shareholders vote on executive pay
BRUSSELS (Reuters) - The European Commission plans to propose legislation by the end of this year that would give shareholders in EU companies a mandatory vote on executives' pay.