Apple Inc. (NASDAQ:AAPL) has officially announced today in a press release that the App Store on iTunes has surpassed 100,000 applications. These 100,000 applications have been downloaded well over two billion times. The applications are divided up into 20 different categories which includes travel, games, finance, and medical.
“The App Store, now with over 100,000 applications available, is clearly a major differentiator for millions of iPhone and iPod touch customers around the world,” stated Apple SVP of Worldwide Product Marketin Philip Schiller. “The iPhone SDK created the first great platform for mobile applications and our customers are loving all of the amazing apps our developers are creating.”
Over the summer, the iPhone OS 3.0 was released and developers began to add push, in-app goods, MMS, copy and paste, and shake to shuffle features into their applications. Over 2 billion push notifications have already been delivered to iPhone customers.
Box.net is an online business collaboration company that allows companies to sync office documents. They have over 50,000 business customers that include Intel, Nike, SanDisk, T-Mobile, Oracle, etc. Given the range of clients they have, the company has raised an additional $7.1 million to enhance their business. The funding round was discovered in an SEC filing by PEHub. In total, Box.net raised $17.6 million in funding. The funding will be used to build a stronger engineering, marketing, and sales team.
In the United States and several other countries, Apple has sold millions of iPhone devices. But in China there has not been a good number of sales whatsoever. China Unicom reportedly sold only about 5,000 iPhones in a week. Two of the biggest problems with selling the iPhone in China so far is that the price is too high and it does not come bundled with WiFi.
The iPhone costs $1,025 in China while it costs $299 in the United States with an AT&T contract. China Unicom is selling the iPhone for a price that is 26% higher than what it is selling for in Hong Kong.
“We believe that eventually China will emerge as a major market for iPhone sales, but it could take a year or two to gain meaningful unit traction as it did in the U.S.,” stated Piper Jaffray & Co. analyst Gene Munster.
Google and Verizon has made a new commercial for the upcoming Verizon Droid mobile phone. The new commercial features a stealth bomber dropping what looks like a bomb in different areas of the world. The commercial looks like it could be a science fiction movie. The last Verizon Droid commercial made fun of the iPhone by saying “iDon’t” followed by a feature that the Apple iPhone does not have which the Droid does have. AT&T is suing Verizon for the “there’s a map for that” theme ads.
Cisco Systems, Inc. (NASDAQ:CSCO) will be acquiring DVN (Digital Video Networks) for $44.5 million. Of that $44.5 million, $17.5 million will be paid up front and the rest of the $27 million will be paid based on sales performance. The deal is expected to close by the first half of 2010. DVN has about 160 million subscribers and the company plans to grow by another 200 million customers in the next 3-5 years. DVN will be rolled into Cisco’s International Cable Unit division.
Earlier today Cisco announced that their first quarter profit dropped 19% because of a drop in sales. However Cisco CEO John Chambers said that there are “strong sequential growth trends” as the economy is recovering. The profit posted was $1.79 billion for the quarter. This is down from $2.2 billion the year before. Cisco has recently partnered with VMware and EMC to sell data center products. Cisco plans to repurchase $10 billion worth of stock.
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