■TELEPHONES
Smartphone sales rise
Smartphone makers sold 27 percent more units in the second quarter as global mobile-phone sales fell 6.1 percent, research firm Gartner said. Apple’s iPhone increased its share to 13.3 percent of the smartphone market in the quarter from 2.8 percent a year ago, it said in a statement yesterday. Nokia’s share of the overall handset market fell to 36.8 percent in the quarter from 39.5 percent a year earlier, while Samsung and LG gained ground. Gartner anticipates reduced subsidies for mobile-phone purchases, increasing price pressure on handset makers. Touchscreen devices will continue to be popular and application and content offerings will become more important, the researcher said.
■FOOD
Nestle profit down 2 percent
Nestle SA, the world’s biggest food and drink maker, reported yesterday a 2 percent fall in first-half net profit as the recession hurt consumer demand and divestments and a stronger Swiss franc weighed on sales. The maker of popular brands such as Nescafe, Perrier, Jenny Craig and Haagen Dazs said it earned 5.1 billion Swiss francs (US$4.7 billion) in the first six months of the year, down slightly from SF5.2 billion in the same period last year. The result bettered market expectations, although some analysts said the company had dropped its full-year growth target. Shares fell 3.4 percent to SF42.62 in early Zurich trading. Chief executive Paul Bulcke said he was pleased that Nestle “delivered a combination of growth and increased profitability in the first half of the year, and this in a very challenging business environment.”
■BANKING
HSBC buys Ekonomi shares
Global banking giant HSBC said yesterday it now owned almost all of Indonedia-based Bank Ekonomi after purchasing another chunk of shares. HSBC said in a statement that it had bought another 10.08 percent of Ekonomi shares that were held by the general public for about US$71.6 million. The group now owns 98.96 percent of Ekonomi. “The acquisition almost doubled HSBC’s presence to 208 outlets in 26 cities in the world’s fourth most populous country,” the bank said.
■ENERGY
E.On profit nearly doubles
Germany’s E.On AG, Europe’s largest energy company, said yesterday its net profit more than doubled in the second quarter, helped by shifts in currency values, higher prices and one-off financial gains. The Duesseldorf-based company said it earned 1.9 billion euros (US$2.7 billion) in the April-to-June period, compared with 882 million euros in July last year, marking a 110 percent increase. The company said this was boosted by changes in foreign exchange rates, gains on derivative positions and divestments of assets such as power plants. Sales for the quarter in fact declined 11 percent to 17 billion euros from 19 billion euros in July last year as the recession curbed demand for energy.
■CRIME
Software judged piracy tool
A federal judge in the US has ruled in a closely watched legal battle that RealNetworks Inc’s DVD copying software appears to be an illegal pirating tool. US District Court Judge Marilyn Hall Patel on Tuesday kept in place her order barring the Seattle-based firm from selling its software until she resolves the legal battle over copyright protections between the company and Hollywood studios. The judge said it was likely that the studios would prevail with their argument that the software violates a federal anti-piracy law.
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