Greece is still conducting negotiations but hopes to wrap things up by week’s end as private-sector creditors are getting ready to accept a lower coupon rate on their Greek debt, according to CNBC. A new offer will be submitted by creditors which will include an average interest rate of 3.75 percent instead of the previous 4 percent. Germany, Greece and others don’t want the rate to come in above 3.5 percent.
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Nokia has reported a fourth quarter loss of EUR 1.07 billion ($1.38 billion), down from last year’s EUR 745 million profit; revenue dove 21 percent to EUR 10 billion. The company’s sale of smartphones exceeded estimates but fell 29 percent to 19.6 million. Within these numbers, Nokia sold over 1 million of its new Lumia devices.The company declared a EUR 0.20 dividend and suggested a EUR 360 million buyback.
Netflix’s fourth quarter earnings exceed expectations with its improving subscriber base of 610,000 additional net new subscribers in the U.S. market. Earnings per share dropped 14 percent to $0.73 while revenues jumped 47 percent to $875.6 million. Profitability was hit by content rights spending, international expansion and additional members. The company has projected a first quarter net loss but the market found the overall report very positive and rose 17.6 percent in pre-market trading.
According to research firm Strategy Analytics, global shipments of tablet computers jumped to 27 million in 2011′s fourth quarter, up from the previous year’s 10.7 million. Apple Inc.’s iPad remained the leader with a 58 percent market share. Tablets with Google Inc.’s Android operating system, including Samsung Electronics’s Galaxy Tab and Motorola Mobility’s Xoom tablets, rose in market share to 39 percent in the fourth quarter versus 2010′s fourth quarter’s 29 percent. The firm said, “Android is so far proving relatively popular with tablet manufacturers, despite nagging concerns about fragmentation of Android’s operating system, user-interface and app store ecosystem.”
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