Tech Business Review: Apple’s iPad Mini News, Google Chairman Unloads Stock
Mass production of the iPad Mini may well be underway as the Wall Street Journal confirms chatter that Apple’s (NASDAQ:AAPL) Asian suppliers have begun making the tablet. The product will sport a 7.85-inch screen, compared to 9.7 inches for the regular iPad and 7 for Google’s Nexus. Further, LG Display and AU Optronics Corp. (NYSE:AUO) reportedly began production for the new screen in September.
Nokia Corporation (NYSE:NOK) considers divesting its massive Espoo, Finland headquarters as part of its cash-raising endeavors. A newspaper in the country values the facility at between €200 million and-€300 million ($259 million to $388 million). The firm has also been searching for ways by which it might monetize its patent portfolio as its debt has been downgraded to junk by major ratings agencies.
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Genealogy giant Ancestry.com (NASDAQ:ACOM) is still trying to sell itself to private equity firms and to that effort has purchased the startup 1000memories which helps consumers digitize and share their old photographs. Ancestry intends to join 1000memories and its Shoebox photo-scanning application with its family genealogy services. Financials of the transactions were not reported.
Google (NASDAQ:GOOG) chairman Eric Schmidt sold $130 million in shares between September 24th and 26th, thus benefitting from the recent run-up. Additionally, Schmidt filed to sell $1.45 billion worth of shares in February as part of a trading plan.