According to The New York Times, Apple is working on a smartwatch product. The watch is supposedly going to be made using curved glass. The Apple watch is not the first smartwatch to hit the market. At the Consumer Electronics Show earlier this year, there were several watches announced like the Martian Watch and Pebble.
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When the late Apple co-founder and CEO Steve Jobs was running the company, he decided to sue Samsung Electronics. The current CEO of Apple, Tim Cook, originally opposed the idea of the lawsuit mostly because Apple and Samsung had a close-knit relationship. Apple was Samsung’s biggest customer in 2011 and was buying around $8 billion worth of screens and chips from them. However Steve Jobs did not want to sit around and let Samsung’s hardware replicate the iPhone while using the Android operating system.
Apple Inc. has responded to a shareholder lawsuit filed by David Einhorn over at Greenlight Capital. Einhorn insists that Apple has not done enough to distribute their $137 billion cash file and even compared the company to his grandmother, who survived the Great Depression and holds on to all of her cash instead of putting it into productive investments. In Apple’s statement, the company suggested that Greenlight and Einhorn is misrepresenting an important governance proposal that the company is presenting to shareholders at their annual meeting on February 27th.
Hedge fund manager David Einhorn has filed a lawsuit against Apple. Einhorn is asking shareholders to vote against a proposal from Apple. Apple’s proposal is to eliminate the company’s ability to issue preferred stock that has paid a dividend. Einhorn has been talking to Apple about finding ways to unlock the $137 billion pile of cash that they are sitting on.
Sprint has sold 2.2 million iPhones for Q4 2012. Unfortunately, the company sells each device at a loss. Selling that many iPhones was partially the reason why they reported a $1.3 billion net loss for the quarter. The company aims to profit from each iPhone owner by phone plans over a two-year contract.
Apple Inc. has hit 25 billion songs sold on iTunes. The 25 billionth song is called “Monkey Drums” (Goksel Vancin Remix) by Chase Buch. The song was purchased by Phillip Lüpke from Germany. Phillip will receive a €10,000 iTunes Gift Card as a reward for downloading the 25 billionth song.
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There was a job posting on the Apple website for a position called “Siri UI Engineer.” The job posting was looking for an engineer that has experience with Unix (OS X). The position specifically mentioned OS X and not iOS. Siri has been released only on iOS so far. The posting has been removed after it received some attention from the press.
Apple’s VP of Education John Couch has been negotiating a very lucrative deal for the company. He is in talks with Turkey President Abdullah Gül to sell 15 million Apple iPads to be used for students there.