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Read more at Counterparties Citigroup's new CEO likes to quote Spiderman Why more disclosure has led to less information Get Counterparties by email! Follow Reuters Facebook Twitter RSS YouTube Read Binders bump Big Bird in post-debate chuckles | 1:17am EDT Apple loses tablet copyright appeal against Samsung 18 Oct 2012 Locked in tight race, Obama and Romney trade jokes at dinner 12:22am EDT FDA finds fungus in steroid shots, meningitis toll rises | 18 Oct 2012 Obama talks Libya and Biden's swimsuit on "Daily Show" | 18 Oct 2012 Discussed 172 Obama gets second chance in debate rematch with Romney 90 ”I take responsibility” for Benghazi, Clinton tells CNN 83 Obama grabs wide lead among those who have already voted: Reuters/Ipsos poll Sponsored Links Mobile revolution, economy trip up tech giants Tweet Share this Email Print Related News Google results miss; shares dive after premature report 12:36am EDT Microsoft profit slips as PCs fizzle; Windows 8 awaited Thu, Oct 18 2012 SanDisk sees margin growth, memory prices stabilizing Thu, Oct 18 2012 Chipmaker AMD announces layoffs as PC sales stumble Thu, Oct 18 2012 Weak Google results hit tech stocks, drag Wall Street down Thu, Oct 18 2012 Analysis & Opinion Googleâ€™s hardware ambitions proving costly Apple and Samsungâ€™s cone of silence Related Topics Tech » Media » Related Video GOOG and MSFT target mobile Thu, Oct 18 2012 Street slams Google, Microsoft FACTBOX: The day that Google would like to forget Video hands-on with Google's new $249 Chromebook 1 of 2. A woman walks past an Intel logo at the 2012 Computex in Taipei June 5, 2012. Credit: Reuters/Yi-ting Chung By Poornima Gupta SAN FRANCISCO | Fri Oct 19, 2012 1:17am EDT SAN FRANCISCO (Reuters) - Mobile may be the future for technology, but even with the worldwide proliferation of high-powered devices like smartphones and tablets, some companies are struggling to maintain consistent revenue streams. Earnings disappointments this week from Intel Corp, Microsoft Corp, Google Inc and AMD underscore how Silicon Valley, both the old guard and new, is struggling to profit from consumers' waning love affair with the stalwart PC and infatuation with mobile -- the most significant tectonic shift in the industry since the advent of the Internet. That bodes ill for companies reporting next week that are highly leveraged to mobile advertising and services -- most famously Facebook Inc, which raised a tumult by warning about over-inflated expectations of its mobile business just before its seminal IPO. Amazon and Apple Inc are expected to fare better, analysts say. Apple, which reports Thursday, is struggling with capacity constraints and supply hiccups -- but analysts contend that's a good problem to have because it's spurred by raging mobile hardware demand. Amazon and eBay Inc, meanwhile, are succeeding in reaching consumers through mobile devices, particularly Amazon with its cut-rate Kindle Fire tablets. About 800,000 shoppers made their first-ever eBay purchase through a mobile device. But others are struggling. "Companies are realizing that it is not easy to find a formula that works with mobile," Gartner analyst Carolina Milanesi said. "Mobile is not proving to be as straightforward as people thought." Signs that some of the most innovative of today's Silicon Valley titans are struggling with how to make money off mobile users come at a bad time for an industry already struggling with a worsening macroeconomic environment. The biggest stunner was perhaps Google, which shed more than $20 billion of market value after it reported that its core advertising business had slowed. Critics said it was no anomaly. "Click prices declined for the fourth consecutive quarter after rising for eight consecutive quarters before then. That's a negative. This is the mobile problem," said BGC analyst Colin Gillis. Then there is Zynga, the poster child for mobile transition woes. In 2011 the casual games maker was a consumer Internet darling. In 2012, it has cut its outlook twice and lost three-quarters of its market value amid a lack of mobile hits, leading analysts to warn of massive layoffs. Google CEO Larry Page, however, argued the shift represented a long-term opportunity. "We're really starting to live in a new reality," he told analysts on a conference call. "It will create a huge new universe of opportunities for advertisers, where they ... will be dynamically adapting across a whole bunch of different devices, to reach the right audiences at the right time." Internet companies in China, the world's largest Internet market by number of users, are also struggling to make money from those who access the Internet from mobile devices. Top China search engine Baidu Inc saw its shares tumble last week after Credit Suisse downgraded it to "underperform" on concerns about its money-making plans. At the end of June, the number of Chinese users accessing the Internet from mobile phones surpassed those accessing the Internet via personal computer. Because of this trend, many Chinese Internet companies such as social-networking and online games firm Tencent Holdings have upped their mobile Internet offerings in order to capture growth. "If you look at the evolution of mobile Internet, social networking is usually the first to spread around the world, followed by games and then advertising," said Elinor Leung of CLSA. "You have stages to mobile Internet development, but eventually everyone will be there". FROM BAD TO WORSE Perhaps hardest-hit are Intel and others closely tied to the PC chain. Intel's weak outlook for the fourth quarter ended any hopes the PC market would pick up at year's end. While Intel dominated that space in its prime, in smartphones its market share is less than 1 percent. Intel's one-time rival AMD is in even worse shape, saying this week it will cut 15 percent of its staff -- more than 1,600 people -- as part of yet another restructuring to cut costs while it tries to figure out its future. On Thursday, Microsoft revealed a 22 percent dive in quarterly profit as sales of computers running its Windows operating system dipped. Marvell, yet another chipmaker being battered by the lagging PC market, on Thursday cut its revenue outlook by as much as 10 percent as its customers in the storage business suffered. WINNERS WIN Those doing best are the one with an established foothold in mobile, having figured it out years earlier. Verizon Communications posted a record quarterly profit on the strength of the wireless business it co-owns, which came largely from demand for the iPhone. Apple's ubiquitous handset even figured in the blockbuster $20 billion purchase of a majority in Sprint Nextel Corp by Softbank Corp. Softbank, the first to offer the phone in Japan, was said to admire Sprint's efforts to bring the device to its own network. The memory maker SanDisk also easily beat expectations for the third quarter, as demand for chips to be used in smartphones and tablets drove up pricing. If technology companies only had to deal with a platform transition, that would be one thing. The problem is they are struggling with that transition in the face of a weak economy, when technology upgrades are often the first budget line item to be cut and consumer spending crumbles. "It seems like the macro conditions certainly deteriorated in the third month, and no tech company will be immune to it," said Trip Chowdhry, analyst at Global Equities Research. (Reporting By Noel Randewich, Gerry Shih and Alexei Oreskovic in San Francisco, Bill Rigby in Seattle, Nicola Leske in New York and Melanie Lee in Shanghai; Writing by Ben Berkowitz; Editing by Edwin Chan and Ken Wills) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (5) bookwerm wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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Other News on Friday, 19 October 2012
Exclusive: Libyan Islamist says he was at U.S. consulate during attack |
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Mobile revolution, economy trip up tech giants |
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