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 users’ 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, “Apple has discussed different video-on-demand deals with the studios, there’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.”
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 company’s top executives reported that sales results for the company’s LCD screens would undershoot prior forecasts.
“LG Electronics is planning to lower its target by 20 percent to around 32 million and LG won’t spend more money for TV promotional campaigns as a strategy to secure profitability,” 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 company’s products.