Low demand hurts Blackberry maker

15 September 2011 Last updated at 21:25 GMT RIM shipped 10.6 million smartphones between June and August but expects a pick-up in the next quarter Blackberry manufacturer Research in Motion (RIM) has seen its second-quarter profits more than halve, hurt by low demand for its older models.

The firm rolled out new smartphones but only late in the quarter.

Net profit fell to $329m (£208m) for the three months to 27 August, from $797m in the same period a year earlier.

In July, the company said it would cut 2,000 jobs - 11% of its workforce - as part of a shake-up of its operations.

Revenue for the second quarter fell to $4.2bn, a drop of 10% on the same three months last year.

During the quarter, RIM shipped some 10.6 million Blackberry smartphones and about 200,000 Blackberry PlayBook tablets, which was well below analysts' expectations.

Following the results announcement, RIM's shares fell by as much as 10% in after-hours trading in New York.

The Canadian firm said it expected things to improve in the third quarter though, forecasting shipments of between 13.5 million and 14.5 million smartphones and revenues of between $5.3bn and $5.6bn.

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Wind turbine maker back in profit

17 August 2011 Last updated at 11:59 GMT Vestas expects to deliver a lot more energy-generating capacity this year than in 2010 Shares in Vestas, the world's largest wind turbine maker, have jumped 23% after the company reported a strong order book and a return to profit.

Net profit for the second quarter was 55m euros ($80m; £48m), compared with a loss of 143m euros a year earlier. Revenue rose by 36% to 1.4bn euros.

The company suffered heavy losses in the first quarter.

Vestas said it expected to deliver 50% more energy capacity this year compared with 2010.

"Despite global uncertainty, we feel that Vestas is in a good position to get the order intake that we have outlined," said chief executive Ditlev Engel.

The Denmark-based company currently delivers about 40% of the world's offshore turbines.

In October last year, Vestas was forced to announce plans to cut 3,000 jobs, or 15% of its workforce, due to weak demand for wind turbines.

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Asahi to purchase NZ drinks maker

18 August 2011 Last updated at 06:19 GMT The Asahi-Independent Liquor deal needs to be approved by regulators in New Zealand Japanese beermaker Asahi is to buy New Zealand's biggest ready-to-drink cocktail maker Independent Liquor in a 97.6bn yen ($1.28bn; £775m) deal.

Independent Liquor is also rated third in Australia's ready-to-drink alcohol market.

It also makes and markets brands under licence, such as Whyte & Mackay whisky, Vladivar Vodka and Carlsberg beer.

Asahi, famed for its Super Dry lager, is looking to boost its presence overseas.

Asahi will buy up all the shares in Flavoured Beverages Group Holdings, which holds Independent Liquor, from private equity firms Pacific Equity Partners and Unitas Capital.

Japanese firms have sought to expand in foreign markets as domestic sales slow, while a strong yen has encouraged Japanese firms to invest abroad.

Asahi rival Kirin said this month it would buy a firm that holds a majority stake in Brazilian brewer Schincariol for $2.6bn.

The Asahi-Independent Liquor deal is scheduled to be completed by the end of September, subject to regulatory approval.

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Angry Birds maker in patent suit

 

 Angry Birds is one of the most downloaded applications on iPhones, iPads and Android devices Rovio, the Finnish maker of the Angry Birds game, is being sued by a licensing company for infringing its patents.

Lodsys has said that Rovio and other developers violated its patents with games on Apple's iOS platform and Google's Android.

Lodsys is embroiled in lawsuits with other big technology companies, including Apple.

Rovio said it had not received any direct contact regarding the complaint.

"As soon as we receive more information we will take appropriate action," a spokesperson said.

Angry Birds is one of the most popular game applications.

Rovio marketing chief Peter Vesterbacka said last week that the game had surpassed 300 million downloads.

Lodsys, a company that licenses patents but does not have any other business, added five new defendants to a suit filed in May with a US district court in Texas.

Along with Rovio, it named Electronic Arts, Take-Two Interactive which makes Grand Theft Auto, Atari and others in the list of companies it says are violating its patents.

Take-Two declined to comment. Electronic Arts and Atari were not immediately available for comment.

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