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GOOG Up As Market Anticipates Global Recovery
Stocks started higher in early trading as solid manufacturing data in Europe helped investors refocus attentions from Egypt to a global economic recovery. Shares of GOOG are up strong with the rest of technology. Upcoming catalysts include transition of the executive team; continued Android momentum on smartphones and tablets; regaining ground in China and pushing into other emerging markets; updated software, adoption, software updates and media partners for Google TV; and progress in other newer initiatives (location-based services, mapping, gaming, etc.). The stock trades at approximately 15x Enterprise Value / EBIT, inexpensive relative to historical trading levels and the broader Internet group.Google Recruiting Developers To Take On Apple (The Wall Street Journal)
Google’s out to hire in-house application developers for Android to take on Apple. Not shocking considering the company just announced it was going to hire more than 6,000 new employees this year. And it’s not just about maintaining smartphone stats, it’s about building better software applications. Google wants to diversify its current Android applications, which are largely adaptations of existing software, to more gaming and social location-based services. Watch a Business Insider exclusive with Rana Sobhany, co-founder of Medialets, on why Apple crushes Android in apps.
Android Knocks Off Nokia As Number One Selling Smartphone Platform (Canalys)
Android is now the most popular selling mobile platform in the world, knocking off Nokia which was number one for the last 10 years, according to research firm Canalys. In the latest quarter, 33.3 million smartphones shipped with Android, up from just 4.7 million the year before. Nokia shipped 31 million smartphones, which is up from 23.9 million the year before. Apple is in third with 16.2 million, up from 8.7 million the year before. Nokia still has the largest installed base, but unless the company partners with a better mobile OS, those days are numbered. Read more from Jay Yarow at Business Insider.
Nokia Hints At Dropping Symbian For Android-Powered Nokia Smartphones
(The Wall Street Journal)
Speaking of Nokia, CEO Stephen Elop on the company’s earnings call said that “there are multiple ecosystem patterns that need to be considered” as the company moves forward. This was one of several remarks in the call that analysts are interpreting as a sign that Nokia may abandon Symbian and the as-yet-unseen MeeGo and instead begin producing Android-powered smartphones. And the hits just keep on coming for Microsoft. You recall, Elop left Microsoft last summer to join Nokia. Read more from Matt Rosoff at Business Insider.
Sony Partners With Android Out Of The Gate On PlayStation Suite (AndroidGuys)
Sony announced that not only are they working on a PlayStation phone (why?), but they are planning on releasing a cross-platform software framework, called the PlayStation Suite. Although the gaming suite will launch first on Android, CEO Kaz Hirai says the company has a completely open stance with carriers and handset makers. They just didn’t have the resources to launch on Windows Phone 7 and iOS out of the gate. Although one would assume that all games would have to be certified by Sony. I can’t see Apple liking that at all.