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Wednesday, 2 May 2012

Facebook's IPO show to hit the road on May 7


SAN FRANCISCO (Reuters) - The roadshow for Facebook Inc's initial public offering is scheduled to start on Monday, meaning the company's shares should begin trading on May 18, a source familiar with the process said on Tuesday.
Founder and CEO Mark Zuckerberg, who has mostly operated in the background during Facebook's closely watched journey to public markets, will be involved in the roadshow, another source said.
Facebook declined to comment.
Many on Wall Street had not expected Zuckerberg to turn up on the roadshow after he skipped a March analysts' meeting, ceding the stage to COO Sheryl Sandberg and CFO David Ebersman. His March absence irked some investors who were indignant that the CEO, while wielding near-absolute control over the eight-year-old firm, had snubbed Wall Street.
IPO roadshows, in which company management presents its strategy to prospective investors, typically last one to two weeks. If the roadshow goes particularly well, shares sometimes start trading a few days earlier.
Facebook is set to raise at least $5 billion in what will likely be the largest Silicon Valley IPO ever. The world's largest social network continues to command keen investor interest although disappointing first-quarter results raised questions about whether it can sustain breakneck growth for the longer term.
A source familiar with the offering said last week that a recent acquisition spurt by the company could have added about a week to the IPO timetable as regulators signed off on the deals.
This review is close to completion, however, allowing the company to go ahead with the roadshow on May 7, according to the source who spoke with Reuters on Tuesday. The sources did not want to be identified because they are not authorized to speak about the company's IPO.
"I have not seen as broad-based interest in an IPO since Google. Investor demand is immense," said Scott Sweet of research firm IPO Boutique. "I expect a roadshow that will rival all roadshows where investors will be turned away at the door."
The news on the road show was first reported by tech blog AllThingsDigital and the Wall Street Journal.

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Monday, 30 April 2012

Hands-on: Lenovo IdeaCentre A720 is like the Surface for your home


Remember how I said the Microsoft Surface was way too expensive for domestic use?
That turns out to not be a problem at all, because Lenovo’s new all-in-one PC the IdeaCentre A720 is the perfect alternative to the Surface for tabletop computing in the home.
What makes the A720 so unique is its sleek 10-point multitouch full HD screen on a articulating support, so that with a single push, the entire PC can collapse neatly into a flat screen on your table.
The support for multitouch means that multiple users can play on its screen at the same time, and to start you off Lenovo is bundling popular games with every A720 sold, including Angry Birds and Fruit Ninja.
The hardware design is excellent, too. It’s the slimmest 27-inch all-in-one on the market right now, and its glass screen stretches from edge-to-edge, although the bezel is quite fat.
This is partly achieved by housing the PC’s DVD drive and ports on the base of the stand.
It’s powered by a third-generation Intel Core i7 processor and a GeForce GT630M 2GB graphics. Some might lament the mobile graphics chip Lenovo is using, but you probably won’t be playing any hardcore games on the A720.
You also get 8GB of RAM, a 750GB HDD, and an integrated 720p webcam, and WiFi and Bluetooth connectivity. Integrated stereo supports Dolby Home Theatre V4, and coupled with overall specs, strongly cements the A720’s position as a home entertainment PC.

And here’s a weird but also pretty cool feature: the A720 has something Lenovo calls the “Eye Distance System”, which alerts you whenever your face gets too close to the screen!
Surprisingly, the A720′s potential as a Surface alternative didn’t occur to Lenovo reps at the Singapore launch after I quizzed them about it.
But it lacks a key feature that the Surface has – the ability to “see” objects on the screen. It would have been fantastic if you could, say, play Dungeons and Dragons or some other board games on the A720’s screen and have it interact with the objects on the surface.
If retailers and businesses don’t have the need for their retail systems to recognise physical objects, the A720 is an incredibly cheaper touch alternative to the Surface.
And at S$2,699, this is also one innovative home PC that looks stylish and performs well. It’s definitely one of the best Windows alternatives to Apple’s 27-inch iMac at the moment, and the touch panel ensures that you’ll enjoy all of Windows 8′s goodness when it launches later this year.
The A720 will be available from the first week of June.

Ecommerce Development in India    Ipad App Development india
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Analysis: Even in emerging markets, Nokia's star is fading


NEW DELHI/HELSINKI (Reuters) - Nokia phones once took pride of place in Manish Khatri's Mumbai store, but now models made by Samsung Electronics get the limelight.
He has nothing against Nokia, he says, but it's better for business to push the more popular models.
That simple calculation is being made in thousands of stores across India and similar emerging markets, where Nokia's rivals used to be relative minnows.
For 14 years the world's biggest seller of mobile phones, it was overtaken by Korea's Samsung in the first quarter of this year, having already watched both Apple and Samsung leapfrog its lead in the lucrative smartphone segment last year.
In the popular narrative of Nokia's eclipse, it is Apple's iPhone that steals the light, but the company is also losing its shine in the basic phone market, which had been a reliable generator of profits and carried the promise of years of strong growth in emerging markets.
No more.
Its basic phone sales fell 16 percent in the first three months of 2012, and have fallen in four of the last five quarters, while competitors like China's ZTE and Huawei have been growing fast.
In India, the world's second-biggest mobile phone market, with more than 900 million subscribers, Nokia's market share has halved in the three years to 2011, when it sold 31 percent of the total 183 million handsets sold, according to Indian researcher CyberMedia.
Analysts say it has failed to keep up with the changing tastes of the growing middle class, and, in a country where the thin-margin network operators don't tend to subsidize phones, is losing storeowners like Khatri, who influence buyers' choices.
"For dealers like us, we face a lot of problems from Nokia for getting even the basic (demonstration phone) dummies to show to the customer," he said. "There is no push from the company."
He said his store, which sells around 500 phones a month, is probably not a priority for Nokia, but Samsung has been sending staff to visit.
LOCAL FAVOURITES
In China, the world's largest cellphone market, operators have started to play a bigger role in selling phones, and that trend is working against Nokia.
"They prioritize domestic vendors over international companies," said analyst Pete Cunningham from Canalys.
In January-March its sales there shrank 62 percent from a year ago. Its share of the market had dwindled to 24 percent last year from 39 percent two years earlier, according to research firm Strategy Analytics.
In Africa, too, its market share slipped to 51 percent last year from 62 percent two years before. It's still ahead of rivals because of its superior distribution on the continent, says Neil Mawston at Strategy Analytics, but it has to act to arrest the decline.
"Nokia is drying up like a puddle in the sun and urgently needs new products to refill the puddle," he said.
In the meantime, it is racking up losses, its shares have lost more than three quarters of their value in a year, and this week two agencies cut its credit rating to junk status.
Nokia says it is continuing to invest to attract customers in these markets.
"Our mobile phones portfolio continues to be strong, especially in key markets like India, Nigeria, Brazil and Mexico where the Asha products are receiving record high scores from consumers," said Mary McDowell, EVP Mobile Phones.
She said the company would be announcing data plans for the new Asha 202 basic phone model with five operators in India on Monday.
MISSING TOUCH
Analysts also say Nokia can be slow to react on popular technology.
In emerging markets, for example, multi-SIM models have been a draw for people who want to take advantage of freebies doled out by competing carriers, but Nokia lacked such phones until mid-2011.
Another costly gap in its basic phones offering is a full touch-screen model. Around 105 million such phones were sold last year globally, according to Strategy Analytics.
"Nokia left the door wide open for Samsung and others by not delivering a full-touch feature phone. The Koreans figured it out three years ago, yet Nokia still does not have a product," said Ben Wood, head of research at CCS Insight.
"In the meantime, prices of Android smartphones have dropped, and Nokia's window of opportunity is almost closed."
Nokia is due to unveil a full-touch 306 feature phone model in the coming months.
SLIPPED HALO
"Nokia's main challenge this year is to arrest the sharp decline in its flagship smartphone portfolio and use it to rebuild a positive halo-effect for the overall Nokia brand," said Mawston.
The company abandoned its own Symbian smartphone operating system last year in favor of the largely untried Windows Phone alternative after Stephen Elop joined as chief executive from Windows maker Microsoft. Symbian sales have nosedived before the Windows models got off the ground.
This month it started sales of the first Windows smartphones in China with an aggressive marketing campaign and huge ads at subway stations, in magazines and newspapers.
There are some positive noises coming from customers.
"I just bought a new Nokia Windows phone and wasn't very used to its tile design, but the experience was quite good after half an hour. All the basic functions I need are there, and I'm beginning to think that Windows phones will make it," Wang Xiao said on his Sina microblog.
"Having an operating system which is Windows-based doesn't excite me," said 22-year old student Akshay Johar in New Delhi, looking at one of Nokia's new Lumia models, but added: "The phone has great features, it looks good, the touch screen is very responsive."
He is considering buying one, he said.
About 27 million people need to make that decision this year, 55 million next year, and 94 million in 2014, according to analysts polled by Reuters.
That only 2 million did in the first quarter shows how steep is the mountain that Nokia must climb.
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Friday, 27 April 2012

Apple sales rocket in China, but growth may slow



HONG KONG (Reuters) - Apple Inc is likely to see its sales growth nearly double in greater China this year, but the pace will probably taper thereafter as competitors hit back with new products in the biggest global mobile phone market.


For the world's most valuable technology to get a bigger slice of the China market, it will also have to come up with an iPhone that supports the biggest Chinese mobile carrier's proprietary technology, settle an iPad trademark dispute and create more official sales outlets.
Apple's sales in mainland China, Hong Kong and Taiwan, expanded three-fold to $7.9 billion in the first quarter, making up a fifth of the total figure. Sales are on track to nearly double in 2012 from last year's $13.3 billion.


"We may not see a repeat of this year's stellar pace of growth in coming years unless Apple comes up with great products to keep up with consumers' demand and tastes," said Candice Wang, an analyst with research firm Analysys International.


Apple has been successful in raking in sales in China's wealthy first- or second-tier cities, but less so in the wider Chinese market, where overall income levels are still low.
Consumers with deep pockets generally see Apple as a premium product and status symbol, analysts say, and are willing to overlook certain drawbacks - such as that "Siri", the iPhone's voice-enabled personal assistant technology, does not speak Chinese.


"I see everybody using an iPhone, so I decided to buy one," said a user whose surname is Zhou, who lives in China's wealthy coastal province of Jiangsu. "I love the screens and the applications are really sleek." She has switched iPhones within a year to keep up with Apple's latest gadgets.
But for most of China, especially in third- or fourth-tier cities, that is not the case. A basic iPhone 4S costs 4,988 yuan ($790), which is more than what many Chinese make in a month.
Even though Chinese salaries are on the rise, per capita urban disposable income was only 21,810 yuan ($3,500) in 2011, while per capita rural income was only 6,977 yuan.
For many Chinese consumers, the iPhone is out of reach and most have instead bought cheaper smartphones running Google's Android operating system, from the likes of ZTE Corp's.


ZTE's U880 smartphone costs less than 800 yuan and the Coolpad 9930 model sells at 1,670 yuan.
"There is no doubt that Apple's sales will keep rising, but market share is a different story," said CK Lu, analyst at Gartner. "If Apple wants to maintain or grow its market share, it will have to cooperate with its partners to roll out more affordable smartphones."


With China's smartphone shipments expected to hit 137-140 million in 2012, exceeding the United States for the first time, according to research firms IDC and Gartner, the potential is huge in an country with more than a billion mobile phone users.


For now, Apple still has the upper hand in the high-end smartphone sector.
"I've tried out iPhone 4S and Lumia 900 and I personally feel that if one really wants to buy a handphone, iPhone 4S is the way to go," Luo Wen, an Apple user based in the southern province of Guangdong, said in his microblog.
"Nokia is lagging behind by a far margin in terms of the overall feel of its products."
CLOCK TICKING ON CHINA MOBILE DEAL
Apple is expected to sell 16 million smartphones in China in 2012, double 2011's total mainly due to the addition of China Telecom as a carrier partner, IDC said.
China Unicom is the other official carrier that sells iPhones, leaving China Mobile, the biggest operator, the only one without an Apple contract.


"The clock is ticking for both parties to get a deal done," said Wong Teck Zhung, senior analyst at IDC.
"China Mobile might lose patience and decide to go for flagship handsets from other vendors while consumers, increasingly aware of non-iPhone alternatives, might also just get tired of waiting."
Wong said chances of a deal would bump up significantly if the upcoming version of iPhone supported China Mobile's 4G TD-LTE and its proprietary 3G technologies, provided Apple uses one of Qualcomm Inc's high-end Snapdragon chipsets.


In the tablet PC sector, Apple's iPad now dominates the China market with a more than 70 percent market share.


However, it has not launched its latest iPad product due to its lawsuit with a near-bankrupt Chinese technology company called Proview International Holdings, which says it owns the "iPad" trademark in China.
That legal tussle is awaiting a ruling from the Higher People's Court in Guangzhou.
($1 = 6.3060 Chinese yuan)


(Additional reporting by Michelle Chen; Editing by Alex Richardson)


Offshore Development India,           Website Design Bangalore
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Twitter updates iPhone, Android apps with search and notification improvements

Twitter has granted both its iPhone and its Android apps an overhaul, supplementing advanced notifications, an revised find out tab that assists you find captivating content, and easier-to-use seek features.
“The Discover tab assists you find interesting and timely content that matters to you,” said vocalised Hu Kim, merchandise Manager at Twitter, in an April 26 mail on the company blog. “With this revise, you can see undertaking on Twitter for iPhone and Twitter for Android. undertaking is a stream of updates that displays which Tweets are favorited or retweeted by the people you pursue and which accounts those people pursue or add to lists.”

seek has been simplified on both app platforms too. “You can glimpse suggestions for distinct spellings and associated terms for your queries,” said Sung Hu Kim.

Searching for people inside the app has furthermore become simpler; Twitter will now autocomplete the titles of the persons you follow when you start typing.

Updates to Twitter’s notification scheme mean that you’ll obtain impel notifications when people combine with you on the site. You can adjust your notification settings to receive alerts when your tweets have been retweeted or favorited or when somebody new begins following your account.

Earlier this week Facebook updated its app for Android device proprietors (version 1.9), proposing presentation improvements, bug repairs and modified icons for the included Messenger and Camera shortcuts.

The updated Twitter app can be downloaded from the App Store or the Google Play store.

SEO Company Bangalore,     PHP Development India
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Thursday, 3 November 2011

Cognizant a serious challenger to IBM, Accenture

CHENNAI/BANGALORE: Cognizant Technology Solutions kept up its searing pace of expansion in the July-September quarter, establishing itself as the clear growth leader for India-based rivals to emulate and mounting a serious challenge to multinational competitors such as IBM and Accenture.

For the fifth quarter in a row, Cognizant's revenue growth topped 30% and it bumped up sales and earnings forecasts for the financial year which ends in December.

President and CEO Francisco D'Souza said in a conference call with analysts on Wednesday that the strong results and growing market share are a testament to Cognizant's agility. The New Jersey-based firm said it expects to end its financial year in December with revenue of at least $6.11 billion, one percentage point higher than its guidance three months ago.

Cognizant also increased its forecast for earnings per share to $2.83 from $2.78. Its shares were trading around 2.5% lower in early morning trade on the Nasdaq stock exchange whose main index was up 1%. Cognizant is in the middle of a share buyback programme with authorisation to purchase up to $600 million of its stock.

Results for the July-September quarter from top IT services providers TCS, Infosys, Cognizant, Wipro and HCL show that demand remains strong in an uncertain global economy even though some of them are finding that margins are coming under pressure.

Cognizant, which is also a component of the S&P 500 index, has an operating philosophy that puts growth at the top of its priorities. The IT company is happy with operating margins of 18-20%, pays no dividends at all, and reinvests surpluses to further the cause of growth.

Such an approach has resulted in Cognizant increasing its market share by 300 basis points in the past two years among India's top five IT providers.

During the September quarter, incremental revenues, at $116 million, were the highest for Cognizant. Top exporter TCS only managed $113 million and Wipro, which will be eclipsed by Cognizant as the third-largest exporter at the end of the year, added $65 million.

"Cognizant has become a serious challenger to the biggest global firms including Accenture and IBM. It is doing everything right at the moment," said Peter Schumacher of Germany-based business advisory services provider Value Leadership Group.

Cognizant was founded as an arm of Dun & Bradstreet in 1994 and listed on the Nasdaq four years later. A big part of the reason for its success is that it pays intimate attention to its customers, analysts said.

For every customer account, Cognizant has a senior account manager onsite, a dedicated delivery head and a consultant. Some 1,000 client-facing professionals form the company's so-called 'threein-a-box' team, helped by the same number of staff in delivery locations such as India. During the third quarter, Cognizant's revenue grew by 31.6% to $1.6 billion. Net income was $227.1 million, or $0.73 per share, three cents higher than forecast.

Citi analysts Ashwin Shirvaikar and William Mania wrote that Cognizant's revenue guidance of at least $1.66 billion for the fourth quarter is above the consensus of $1.65 billion. "They have historically beaten their initial guide and specifically this year they have beaten each quarter by $10-35 million, so we remain quite comfortable with our estimate." Citi maintains a buy on the stock.

R Chandrasekaran, president and managing director for global delivery, said price negotiations are continuing with customers, but "it is not going to be rosy as last year. It would be flat". He expected clarity on pricing in the early part of 2012.

Nearly four-fifths of revenue came from North America and 18% from Europe. The financial services sector, with clients such as JPMorgan Chase and UBS, contributed 40% to revenue. Cognizant added 12,000 employees in the quarter, including approximately 4,000 from the acquisition of CoreLogic India. Competitors keeping a close watch on Cognizant privately doff their hats to the company and its seeming ability to run a marathon at the speed of a sprint.
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HCL Tech beats Wipro in engineering services

BANGALORE: Wipro Technologies, which has for years been the market leader in outsourced engineering and R&D (ERS) services in India, has just been upstaged by HCL Technologies.

In the quarter ended September, HCL Tech reported $186 million in ERS revenues, against Wipro's $184 million. HCL Tech said that two years ago, in the July-September 2009 quarter, the company was behind Wipro by $54 million (annually a difference of about $200 million).

That means HCL Tech has seen a sharp rise in ERS revenues from $117 million two years back to $186 million, while for Wipro the growth has been more modest, from $171 million to $184 million.

A Wipro spokesperson did not comment directly on the figures, but said, "Wipro continues to have a leadership position in the R&D services space. The differentiation comes from the proven hardware and software design engineering expertise across the product lifecycle in semiconductor, consumer electronics, mobile devices, telecom networks and automotive electronics industries."

Some analysts say that HCL operates at lower margins than Wipro and this enables it to become more aggressive in winning deals. However G H Rao, corporate vice-president for ERS at HCL Tech, said, "Over the last two years we have made significant investments in ERS. We have also built an ecosystem of partners in system design & manufacturing across industries, universities etc."

The company is also increasingly working with clients to develop patents and leveraging on its global delivery centres in the US and Europe where 1,500 of its 17,000 ERS team sit.

A recent Frost & Sullivan report states that a major differentiator for HCL is its "Engineering out of the box". HCL offers capabilities and solutions for not just the core product, but also its surrounding ecosystem, and user experience. For instance it enables clients to extend the reach of their core products into new markets by creating platforms using productized solutions like mobility, cloud, collaboration, etc.

Chaitanya Ramalingegowda , director for globalization advisory at consulting firm Zinnov, said that though Wipro has the capabilities to deliver similar experiences as that of HCL, it has been more focused on end-toend product development. "HCL makes greater efforts in creating better user experiences," he said.

The ERS market has slowly evolved from the days when IT companies were given product requirements and specifications by clients based upon which certain portions of the products would be engineered. Though lower-end work continues to form a major portion of the industry, clients are now handing over the entire product lifecycle responsibility as well.

This includes conceptualizing the product and its go to market strategy, designing the technology architecture and delivering the integrated product. Apart from software skills it also requires skills in areas like mechanical engineering and semiconductor.

Zinnov estimates the R&D offshoring market in India will reach $13.1 billion in 2011, a growth of 11.4% over 2010. The major sectors that outsource ERS include independent software vendors, semiconductor and telecom, aerospace & defense, and transport.

ERS contributes around 19% of HCL's and 12.5% of Wipro's overall revenues. The two companies are well ahead of the rest of the pack that includes Patni, Infosys, Mahindra Satyam, Persistent and MindTree.
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