LG would make more money if it wasn’t for smartphones

You know it's bad when your mobile business gets trounced by the rival that sold a smartphone that actually blew up in its customers pockets. That's the situation over at LG, whose mobile communications division contrived to lose $389.4 million acros…

Samsung’s Note 7 crisis will cost at least $2.34 billion

Do you know what's really bad for your business? Selling a smartphone with a tendency to explode in your customer's pockets. That's why Samsung has revised its quarterly profit guidance, suggesting that it'll lose out on $2.34 billion in the current…

Samsung estimated to make 95 percent of Android device profits

Samsung makin' money

Yes, we all know that Android has the prevailing device market share right now, but which companies in that group are actually making money? According to Strategy Analytics’ estimates for Q1, it’s Samsung… and virtually no one else. With $5.1 billion of Samsung’s $7.9 billion operating profit last quarter believed to have come from Android, the Korean firm reportedly accounted for 94.7 percent of Android’s hardware profit engine. The only other company that made enough money to stand out was LG, whose $119 million in mobile profits got it to a much smaller 2.5 percent. HTC, Sony, ZTE and the rest were lumped into the ignominious “other” category, at 2.7 percent. The figures don’t mean that all other Android manufacturers are floundering, but they do suggest that Samsung is in a much better position to survive any market turbulence.

Filed under: Cellphones, Mobile, Samsung, Google, LG

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Source: Strategy Analytics

Pelosi outlines aid package for US automakers (AP)

House Speaker Nancy Pelosi said Saturday the House would provide aid to the ailing U.S. auto industry, requiring that the industry meet new fuel-efficiency standards, produce advanced vehicles and restructure “to ensure their long-term economic viability.”

World leaders agree to act fast against recession (Reuters)

World leaders on Saturday backed a rapid action plan for the global economic crisis, agreeing on the need for measures to spur growth, better financial market rules and more say for emerging countries.

Union Pacific says economy hurt 1,500 workers (AP)

Union Pacific Corp., the nation’s largest freight railroad, has laid off or reduced hours for 1,500 engineers and conductors since 2007 because of the struggling economy.

Leaders seek to prevent future economic crisis (AP)

World leaders battling a historic economic crisis agreed Saturday to flag risky investing and regulatory weak spots in hopes of avoiding future financial meltdowns.

UAW leader says blame economy for Detroit 3 woes (AP)

Even as Detroit’s Big Three teeter on collapse, United Auto Workers President Ron Gettelfinger said Saturday that the problem is not the union’s contract with the automakers and that getting the automakers back on their feet means figuring out a way to turn around the slumping economy.