Washington: Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in US taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more.
The Senate Permanent Subcommittee on Investigations has found that Apple in 2012 alone avoided paying $9 billion in US taxes, using a strategy involving three offshore units with no discernible tax home, or "residence."
Cook, in his first congressional testimony since becoming Apple CEO in 2011, said his company is a major taxpayer, handing over nearly $6 billion in cash to the US government in 2012.
"We expect to pay even more this year," Cook said. "We pay all the taxes we owe."...
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12:12 PM, May 22, 2013
Washington: Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in US income taxes, a Senate investigation has found. The world's most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that earned $22 billion in 2011 paid only $10 million in taxes, according to the report issued Monday by the...
01:07 PM, May 21, 2013
Seoul: Overtaking Apple as the world's leading maker of smartphones has stretched Samsung Electronics' in-house supply lines, and the South Korean firm is now courting some of its rival's main parts suppliers. After costly courtroom battles over technology patents, the two gadget giants are now going head-to-head over securing the best supply of parts as they jostle to rule the $253 billion smartphone market. The two took 100 per cent...
01:20 PM, May 17, 2013
Cupertino: Apple says its customers have downloaded more than 50 billon applications from its App Store since its launch in 2008. Apple said on Thursday that the 50 billionth download was a game called Say the Same Thing by Space Inch. The App Store had 500 apps when it first opened. It now has more than 850,000 individual apps for the iPhone, iPad and iPod Touch. The store hit the...
08:05 AM, May 17, 2013
Tokyo: Sharp, Japan's leading maker of liquid crystal displays, will rely on expanding supplies of small panels to Samsung Electronics while still shipping screens to rival Apple, in a bid to raise factory output levels and remain viable, three sources said. In a midterm business plan it aims to release on Tuesday when it announces its latest earnings results, Sharp will set a goal of raising annual operating profit to...
11:36 AM, May 11, 2013
San Francisco: Disturbed by the nationwide epidemic of cellphone robberies and thefts, law enforcement officials across the country are looking to the wireless industry to help find a cure. In San Francisco, where half the robberies were phone-related last year, District Attorney George Gascon is calling on major companies in nearby Silicon Valley to create new technology such as a "kill switch" to permanently and quickly disable stolen smart phones,...
10:38 AM, May 05, 2013
Washington: The Pentagon is expected to clear Apple, Samsung and BlackBerry mobile devices for use on Defense Department networks in the next few weeks, part of an effort to ensure the military has access to the latest communications technology, a spokesman said on Wednesday. The decision will set the stage for an intensified struggle for Pentagon customers among BlackBerry devices, Apple's iPhones or iPads and units using Google's Android platform...
10:33 AM, May 02, 2013
Mumbai: The smart watch revolution is only just about beginning but is expected to pick up great speed later this year when Apple unveils iWatch. Even Microsoft is said to be preparing a smart watch, while LG and Samsung have also announced that they are working on their versions of a connected wrist watch. With devices like Pebble already out in the market, research on how to best use the...
09:21 AM, Apr 28, 2013
Seoul: Samsung Electronics said on Friday that its first quarter profit jumped to a record high as smartphone sales remained strong despite the April launch of an updated version of its flagship Galaxy phone. Sales of consumer electronics usually slow in the first three months of the year after the holiday shopping season, an effect that analysts thought would be compounded by this month's release of the Galaxy S4 smartphone...
03:33 PM, Apr 26, 2013
Bangalore: Samsung Electronics grabbed more smartphone market share from archrival Apple in the latest quarter, with sales of its phones jumping to account for one third of the global market. Sales of the iPhone 5 helped Apple's volumes grow 6.6 per cent to 37.4 million phones in the quarter from a year earlier, but that was not enough to stop its share of the market dropping to 17.3 per cent...
02:00 PM, Apr 26, 2013
New phones are continually coming out. Which should you buy? Here's a summary of Associated Press reviews on recent phones, including the latest from Samsung and Research In Motion. Android devices: Samsung Galaxy S4 The S4 is an excellent device from a hardware standpoint. Its 5-inch screen is larger than its predecessor, yet it's a tad lighter and smaller. The display is sharp, at 441 pixels per inch. Samsung packed...
01:12 PM, Apr 26, 2013
New York: When Apple launched its iTunes music store a decade ago amid the ashes of Napster, the music industry - reeling from the effects of online piracy - was anxious to see how the new music service would shake out. "The sky was falling, and iTunes provided a place where we were going to monetize music and in theory stem the tide of piracy. So, it was certainly a...
03:25 PM, Apr 25, 2013
San Francisco: Amazon.com Inc will release a set-top TV box later this year that will stream video over the Internet, challenging Apple Inc's Apple TV device and a similar gadget sold by start-up Roku, BloombergBusinessweek reported on Wednesday. The box will plug into TVs and give viewers access to Amazon's digital video content, which the company has been expanding, BloombergBusinessweek said, citing three unidentified people familiar with the project. An...
11:52 AM, Apr 25, 2013
San Francisco: Apple Inc on Tuesday bowed to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade. The new expanded capital plan includes issuing debt for the first time to fund $100 billion in share repurchases and higher dividends until the end of 2015. That doubles the amount from a program set up last year and...
09:44 AM, Apr 24, 2013
New York: Apple is opening the doors to its bank vault, saying it will distribute $100 billion in cash to its shareholders by the end of 2015. At the same time, the company said revenue for the current quarter could fall from the year before, which would be the first decline in many years. Apple CEO Tim Cook also suggested that the company won't release any new products until the...
08:37 AM, Apr 24, 2013
Washington: Apple Inc scored a win on Monday when the US International Trade Commission ruled that it did not violate a Google patent to make the popular iPhones. Apple had initially been accused of infringing on six patents for iPhone-related technology covering everything from reducing signal noise to programming the device's touchscreen so a user's head does not accidentally activate it while talking on the phone. If Apple had been...
10:06 AM, Apr 23, 2013
Seoul: LG Display Co Ltd reported its smallest profit since it returned to the black in the second quarter of last year, as demand for iPhone and iPad screens from Apple weakened amid concerns the US company is losing its luster in the mobile device market. Apple Inc, which analysts say provides about 30 per cent of LG Display's revenue, is facing intensifying competition from Samsung and up-and-coming rivals. A...
04:33 PM, Apr 22, 2013
Seoul: Google's app store revenues are growing much faster than those of Apple Inc, but Apple still dominates overall sales, market research data taken from the first three months of the year shows. The app stores collectively raked in $2.2 billion in the first three months of 2013, according to Canalys, a market researcher. The firm says Apple's App Store generated $1.48 billion of revenue, accounting for 74 per cent...
12:38 PM, Apr 22, 2013
