Best Buy shall rule the land when it comes to retail electronics in the U.S.
By Brandon Hill - January 16, 2009
It’s been a tough road for Circuit City. The retail electronics giant has been pummeled over the years by the likes of Best Buy and Walmart, and has been unable to turn its operations around due to the current state of the economy. In early November, the company announced plans to close 155 stores in the United States. The stores combined accounted for $1.4 billion USD in sales for fiscal year 2008. Just a week later, Circuit City filed for Chapter 11 bankruptcy protection -- the filing showed that the company has $2.2 billion USD in debt and $3.4 billion USD in assets. The news got even bleaker today as Circuit City's CEO announced that the company failed to find a buyer and that it could not refinance its debt. As a result, Circuit City will liquidate all of its remaining stores. The liquidators lined up to sell off the merchandise from the remaining 567 stores include Great American Group, Hudson Capital, SB Capital Group and Tiger Capital.
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Friday, January 16, 2009
Nvidia in, Intel out for Apple Mac Mini?
by Brooke Crothers January 16, 2009
Is Nvidia elbowing out Intel at Apple again? Will the same Nvidia GeForce 9400M chip that caused a small sensation when it dislodged Intel graphics silicon in the MacBook line land in the Mac Mini too? Tom's Hardware is speculating that it's Nvidia's Ion platform that is Mini-bound.
But Nvidia's Ion chipset is tied strictly to Intel's Atom processor. It seems unlikely that Apple would demote the Core 2 Duo-based Mini to the slower Atom chip. Though anything is possible with Apple, it seems more likely that Apple will upgrade the ancient Intel GMA 950 graphics to the GeForce 9400M, sans Atom.
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Is Nvidia elbowing out Intel at Apple again? Will the same Nvidia GeForce 9400M chip that caused a small sensation when it dislodged Intel graphics silicon in the MacBook line land in the Mac Mini too? Tom's Hardware is speculating that it's Nvidia's Ion platform that is Mini-bound.
But Nvidia's Ion chipset is tied strictly to Intel's Atom processor. It seems unlikely that Apple would demote the Core 2 Duo-based Mini to the slower Atom chip. Though anything is possible with Apple, it seems more likely that Apple will upgrade the ancient Intel GMA 950 graphics to the GeForce 9400M, sans Atom.
Read more here -->Link
Intel sees more hard times in 2009
By Jordan Robertson Jan. 16, 2009
Intel Corp. appears to be playing it safe with an ugly first-quarter forecast. The chip maker reported Thursday that profit plunged 90 percent and sales slipped 23 percent during the last three months of the year, matching analysts' subdued estimates. Wall Street was braced for the bad news: Intel had lowered its fourth-quarter guidance twice, including once just last week, warning that weaker-than-expected PC demand was hammering down demand for its microprocessors. So what about 2009? Intel said it doesn't know when demand will pick back up, so the Santa Clara-based company set the bar low and offered first-quarter guidance at the low end of what analysts were expecting. Intel said it 2009 sales will likely be around $7 billion, which translates to a decline of more than 25 percent from the first quarter of 2008. Gross profit margin should also sink sharply, falling from more than 50 percent of sales to the low-40 percent range, it said.
Read more here -->Link
Intel Corp. appears to be playing it safe with an ugly first-quarter forecast. The chip maker reported Thursday that profit plunged 90 percent and sales slipped 23 percent during the last three months of the year, matching analysts' subdued estimates. Wall Street was braced for the bad news: Intel had lowered its fourth-quarter guidance twice, including once just last week, warning that weaker-than-expected PC demand was hammering down demand for its microprocessors. So what about 2009? Intel said it doesn't know when demand will pick back up, so the Santa Clara-based company set the bar low and offered first-quarter guidance at the low end of what analysts were expecting. Intel said it 2009 sales will likely be around $7 billion, which translates to a decline of more than 25 percent from the first quarter of 2008. Gross profit margin should also sink sharply, falling from more than 50 percent of sales to the low-40 percent range, it said.
Read more here -->Link
AMD to cut 1,100 workers, 9 pct of staff
By Jordan Robertson Jan 16, 2009
Advanced Micro Devices Inc. plans to cut 1,100 jobs, 9 percent of its global staff, and slash the remaining employees' pay as the chip maker hopes its third round of layoffs in a year can help it get through a brutal market for computer sales. The Sunnyvale, Calif.-based company said Friday that 900 workers will have their positions cut. The rest of the reductions are coming from attrition and the previously announced sale of a business unit. The company has 15,000 workers currently, but it is spinning off its manufacturing operations, which have 3,000 employees who are not affected by Friday's announcement. So AMD's cut of 1,100 jobs amounts to 9 percent of the remaining 12,000 workers.
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Advanced Micro Devices Inc. plans to cut 1,100 jobs, 9 percent of its global staff, and slash the remaining employees' pay as the chip maker hopes its third round of layoffs in a year can help it get through a brutal market for computer sales. The Sunnyvale, Calif.-based company said Friday that 900 workers will have their positions cut. The rest of the reductions are coming from attrition and the previously announced sale of a business unit. The company has 15,000 workers currently, but it is spinning off its manufacturing operations, which have 3,000 employees who are not affected by Friday's announcement. So AMD's cut of 1,100 jobs amounts to 9 percent of the remaining 12,000 workers.
Read more here -->Link
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