While the launch of Apple Pay hasn't been completely free of glitches, the service appears to be off to a solid start with 1 million credit cards registered in just the first 3 days and nearly all the retailers who had planned support up and running. (Forbes) Why This Is Important: The rival CurrentC technology that many retailers have committed to because it bypasses credit cards and therefore, fees paid to credit card companies and banks, is still months from rolling out, has already been hacked, and the group behind it is being accused by some of anti-trust behavior.
Sony reported a much bigger loss during its fiscal second quarter compared to a year earlier after being weighed down by its mobile communications business. (MobileWorldLive) Why This Is Important:Sony decided it is time for a change and yesterday replaced its mobile business lead, Kunimasa Suzuki, with Hiroki Totoki, an executive who led its corporate planning, finance and new business division.
Last week, Amazon CTO Tom Szkutak acknowledged that the company had a huge surplus of $83 million unsold phones collecting dust somewhere. (Fortune) Why This Is Important: As CEO Jeff Bezos likes to point out, critics panned the first Kindle e-reader in 2007, but it evolved into a widely-used family of products. Likewise, Amazon seems intent on taking the same long-term approach with the Fire phone.
"We didn't get the price right. I think people come to expect a great value, and we sort of mismatched expectations. We thought we had it right. But we're also willing to say, 'we missed.' And so we corrected." -- Amazon senior VP of Devices David Limp
Blog Post of The Day
Open thread: Are streaming services like Spotify the new music journalism? Have you heard the latest Led Zeppelin interviews? They've not been recorded and aired by a broadcaster or a music magazine. Instead, they're available through streaming music service Spotify: the third instalment in its series of "Landmark" documentaries about classic albums following past looks at Nirvana's Nevermind and Nas' Illmatic.More »
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