Fitbit, maker of wearable fitness devices, saw its shares drop 20.8% after reporting fourth-quarter earnings. Shares fell $3.44 on Tuesday to close at $13.08 per share near an all-time low.
Fitbit sold 8.2 million connected health and fitness devices in the fourth quarter which includes the holiday season. U.S. revenue in the quarter grew 100% from the previous year and made up 75% of fourth quarter revenue. The company sold a total of 21.4 million devices for all of 2015.
AT&T and Intel have agreed to test how Unmanned Aerial Vehicles (UAVs) or drones work on a network designed to connect devices on the ground. Intel and AT&T will be working to solve major issues in the space, including connectivity. The announcement was made at Mobile World Congress in Barcelona.
Yahoo says it is examining options which may include a sale of the company.
The Board of Directors has formed a Strategic Review Committee of independent directors to lead this effort, with the assistance and support of management.
LG Electronics (LG) has unveiled the new LG G5 smartphone, a brand new design with not only a sleek, metal uni-body featuring a Slide-out Battery but a Modular Type design. The LG G5 is equipped with the powerful yet energy-efficient Snapdragon 820 processor which offers advanced features such as 64-bit performance, Adreno 530 graphics and lower-power Qualcomm Hexagon DSP.
At the Mobile World Congress in Barcelona Spain, Samsung Electronics Co., Ltd. has announced the Samsung Gear 360, a 360-degree camera that lets consumers easily capture, view and share their experiences through spherical video and still images. Facebook CEO Mark Zuckerberg made an appearance on stage to promote the Gear 360 and Gear VR.
Samsung Chairman DJ Koh unveils the new Galaxy S7 and S7 Edge phones in Barcelona.
Samsung Electronics has announced the newest additions to the Galaxy family of products—Samsung Galaxy S7 and Galaxy S7 edge. AT&T, Sprint, T-Mobile, U.S. Cellular and Verizon Wireless will carry the Samsung Galaxy S7 and Galaxy S7 edge in stores beginning March 11, with pre-orders starting at 5:00 a.m. PST on February 23.
LetterOne (L1), a Luxembourg-based venture capital fund, has made a strategic investment of $200 million in ride-sharing service Uber.
Mikhail Fridman, Chairman of L1, said; “I’m excited by our strategic partnership with Uber. As entrepreneurs, with experience in retail, banking, telecoms and energy sectors, and knowledge of diverse developed and emerging markets, we believe that Uber’s highly talented management team possesses the necessary vision and skills to build the company into one of the world’s preeminent technology businesses”.
