Investing in Technology: Apple Considers Streaming Movies, LG Sales Plunge
Apple Inc is reportedly still a good way away from launching an online streaming service that would beam movies and TV shows to usersâ€™ computers or tablets through the cloud. The company has reportedly reached a hitch in negotiations for broadcasting rights with Time Warner, which owns the HBO network, host of some of the most popular shows on television.
According to CNET, â€œApple has discussed different video-on-demand deals with the studios, thereâ€™s no truth to another rumor that floated around last week about agreements Apple had in place to create a subscription film service to rival Netflix.â€
Smart phone manufacturer LG Display (NYSE:LPL) has been whipped by investors in trading Monday, down over 10% at mid-day. This morning one of the companyâ€™s top executives reported that sales results for the companyâ€™s LCD screens would undershoot prior forecasts.
â€œLG Electronics is planning to lower its target by 20 percent to around 32 million and LG wonâ€™t spend more money for TV promotional campaigns as a strategy to secure profitability,â€™â€™ said another high-ranking LG executive who is familiar with the matter. The original target was 40 million. The company has been hit hard by a weakened global economy and depreciating currency values that are pricing up the Korean companyâ€™s products.