Tech Biz Roundup: Nokia Phone RECEIVES Raves, Facebook Shares RALLY Upward
Rivals Cree (NASDAQ:CREE) and SemiLEDs (NASDAQ:LEDS) resolve their patent infringement lawsuits against each other, but the settlement is heavily in Cree’s favor. The latter firm submits to an injunction, effective October 1st, that disallows the U.S. import and sale of its products that are deemed by Cree to be infringing on its patents, and in addition, SemiLED has “made a one-time payment to Cree for past damages”.
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Nokia (NYSE:NOK), for once, gets breathtakingly good news, as The Verge’s review of its 808 PureView phone was quite positive, as the publication calls the device’s camera, replete with a 41MP sensor, to be “astounding, breathtaking, stupefying”, adding that, “this phone’s image quality is so far ahead of the competition that it really has no competition.”. Otherwise… the analyst says that the 808 runs Symbian, and has a mediocre display. However the glowing review of the camera could stand it in good stead for upcoming Windows Phone (NASDAQ:MSFT) devices that are likely to contain PureView technology.
It’s also a good news day for Facebook (NASDAQ:FB) as its shares are currently up 30 percent over their June 6th low, and down no worse that 13 percent from their $38 IPO price. IPO underwriters begin coverage on Wednesday, chatter has it, that the Street is readying for a long line of bullish reports.
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