EBay Exits Mobile Advertising, Spain Fines Big Telecoms: Tech Business Roundup
eBay (NASDAQ:EBAY) President of global marketplaces, Devin Wenig, announced in an interview that in 2013, his firm will cease running mobile ads inside of its applications, remarking that, “We aren’t happy with the user experience and we don’t need the money. It’s not worth it.” In 2012, eBay experimentally displayed ads within its iPhone application, but found that they were not only distracting, but cluttered up the smaller screens as well, aside from not delivering significant revenue.
Telefonica (NYSE:TEF), France Telecom’s (NYSE:FTE) Orange, and Vodafone have been fined by the antitrust regulator of Spain for overcharging for text messages. The penalties reach a record €120 million or $159 million. Telefonica’s share amounts to €46.5 million while the others must pay €43.5 million and €30 million, respectively. On Thursday, the regulator said that Spain’s three largest mobile operators had exploited their dominant position between 2000 and 2009 and passed on overpriced services termination rates to consumers along with high charges for text messages.
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Samsung (SSNLF.PK) reported on Thursday it has finalized talks with the state of Texas in which it intends to invest $3.9 billion for the expansion of system-chip production lines, saying that the expansion would proceed.
LM Ericsson Telephone Company (NASDAQ:ERIC) takes a charge of $1.22 billion in the fourth quarter, connected to its joint venture ST-Ericsson, for which it is exploring strategic options. The company said in a statement that, ”The charge includes write down of assets to reflect the current best estimate of Ericsson’s share of the fair market value of the JV as well as additional charges related to the available strategic options for the future of the ST-Ericsson assets.”
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