Tech Business Review: EU Has A GO at Microsoft, KIT Leaves PRAGUE
Here are Thursday’s top stories:
The European Commission is widening its antitrust inquiry into Microsoft Corporation (NASDAQ:MSFT), to include Windows 8 and Windows RT. In what has become a familiar refrain, regulators say that they are worried that Microsoft is denying access to Windows 8/RT APIs that are needed by competitor browser vendors such as Mozilla and Google, Inc. (NASDAQ:GOOG). Also, the Commission on Tuesday threatened Microsoft with huge new penalties for failing to keep its promises to offer browser choices.
KIT Digital, Inc. (NASDAQ:KITD) shares plummet on word that it will move its corporate headquarters from Prague to New York City, and will be removed from the Prague exchange. However, the firm will continue to maintain research and development facilities in Prague.
Shares of Nokia Corporation (NYSE:NOK) move up, despite its mixed second quarter figures. The firm’s pre-subsidy Lumia ASP dropped 15 percent quarter-over-quarter to €186 ($227), as it reduces prices to build demand. North American Lumia shipments amounted to just 600,000, even with AT&T’s (NYSE:T) promotions. MKM is still bearish, pointing out that Nokia’s €4.2 billion in net cash could burn in 2 years. The end of the year could make or break the company, as it launches Windows Phone 8 models featuring its PureView camera technology.
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