Apple has urged the U.S. Supreme Court to rule against Samsung's request to send a longstanding patent lawsuit between the two companies back to lower court for further proceedings, reports Reuters.
Apple told the court that its South Korean rival has "no evidence" that design patent damages should be based on anything less than the value of an entire smartphone, according to court documents filed on Friday. The Supreme Court agreed to hear Samsung's case in December.
Samsung argued that it has been hit with "excessive penalties" for allegedly copying the design of the iPhone. The company claims that the penalties were unfair because Apple was awarded damages from the total profits of the product, while the infringing patent only applied to a component of the smartphone rather than the whole device.
Apple has raised $7 billion in debt through a five-part bond sale of both fixed and floating rate notes, according to the company's final pricing term sheet filed with the U.S. Securities and Exchange Commission on Friday.
The five-part sale includes:
$350 million maturing in 2019 with a floating interest rate based on three month LIBOR plus 14 basis points
$1.15 billion maturing in 2019 with a fixed 1.1% interest rate
$1.25 billion maturing in 2021 with a fixed 1.55% interest rate
$2.25 billion maturing in 2026 with a fixed 2.45% interest rate
$2 billion maturing in 2046 with a fixed 3.85% interest rate
The transaction was underwritten by Goldman Sachs, J.P. Morgan Securities, MLPF&S, and Deutsche Bank Securities, among others.
Apple held $231.5 billion in cash and marketable securities, partially offset by $68.9 billion in long-term debt, as of the fiscal third quarter, but a significant portion of that money is held overseas and would be subject to high U.S. taxes upon repatriation. By raising debt through bonds, Apple can pay for its U.S. operations at a much lower rate, particularly given its low-risk Aa1/AA+ bond credit rating.
Apple typically uses the capital raised to fund dividend payments to shareholders and its share buyback program, which the company expanded to $175 billion in April. At the time, Apple said it expects to spend over $250 billion in cash under its capital return program by the end of March 2018. It also uses the capital for general corporate purposes, such as the repayment of earlier debt and acquisitions.
Apple market director Jason Barlia has confirmed the company's plans to open a retail store at the World Trade Center Transportation Hub in Lower Manhattan, according to CNET. The store will be located in the Oculus transit and retail complex, and it is expected to open later this year.
The location will mark Apple's tenth retail store in New York City after its first Brooklyn store opens in Williamsburg this Saturday. Apple has another six stores in Manhattan, one in Queens, and one on Staten Island. The Bronx is the only borough that remains without an Apple Store within New York City limits.
Apple's plans to open a retail store at the new World Trade Center have been rumored since 2013, and an alteration permit confirmed the company's construction plans earlier this year. The store is said to be situated at the underground level, and it will reportedly span two floors with up to 10,000 square feet of space each.
Photos obtained by MacRumors from reader Myles today reveal progress on Apple's first retail store in Singapore, a location that has been confirmed by Apple since November 2015 and under renovation since earlier this year. Construction of the store's glass facade and canopy is now well underway.
The project allegedly has an expected completion date of October 31, 2016, suggesting that the store could open as early as November.
Additional photos sent to MacRumors by reader Rodrigo show an Apple-like large, black construction barrier at Mexico City's Via Santa Fe, an upscale wing of Centro Santa Fe, the largest shopping mall in Latin America. The store will be located on the upper level of the shopping mall and is likely in the early stages of renovations.
In January, an anonymous tipster said Apple is planning a major retail expansion in Latin America, starting with stores in the Mexican cities of Mexico City, Guadalajara, and Monterrey. The tipster said Apple will subsequently open its first retail stores in the countries of Chile, Peru, and Argentina.
Chinese smartphone manufacturer Xiaomi had a surprise in store for attendees of its new Redmi Pro smartphone launch event today, unveiling its first ever PC laptop, named the "Mi Notebook Air".
The familiar-named $750 aluminum notebook closely resembles a MacBook and features a 13.3-inch 1080p display, up to 2.7GHz Intel Core i5-6200U processor, 8GB RAM, 256GB solid-state storage, and a discrete Nvidia GeForce 940MX graphics card.
Connectivity-wise, there's a USB-C port included for charging, 2x USB 3.0 ports, 1x HDMI, and a headphone jack. Xiaomi claimed a 9.5 hour battery life for the notebook, which weighs 2.82 pounds.
The company also announced a smaller 12.5-inch (2.36 pounds) model with an Intel Core M3 CPU, 4GB RAM, a 128GB SSD, and integrated graphics, costing $540 in total. Both laptops have a full-size backlit keyboard. The Windows-installed machines will be available in China from August 2, but no details regarding global availability have been given.
According to CNET, Xiaomi partner Tian Mi will manufacture the Mi Notebook Air. Rumors that the smartphone maker was seeking to enter the PC laptop market have been bubbling for a while, and its unapologetically titled debut offering leaves no doubt the company is seeking to emulate – not to mention compete against – Apple in the Chinese market, albeit in the form of a more budget-conscious package.
Xiaomi saw flat revenues last year, with the struggling smartphone sector making up 90 percent of its sales. The move shows the company sees untapped potential in the Chinese consumer notebook market despite suggestions that it may be on the verge of contracting, which indicates the company is also willing to take a risk as it attempts to justify its $45 billion valuation.
Apple today reported a negative-growth June quarter in iPhone sales and revenue, and its guidance for the fourth quarter of the 2016 fiscal year suggests that the downward trend is likely to continue through summer.
Apple expects fourth quarter revenue of between $45.5 billion and $47.5 billion, which would be up to 12 percent lower than the $51.5 billion in revenue it posted in the year-ago July-September quarter.
In the fourth quarter, the company also expects a gross margin between 37.5 percent and 38 percent, operating expenses between $6.05 billion and $6.15 billion, other income/expenses of $350 million, and a tax rate of 25.5 percent.
Six people from New York have been charged with allegedly attempting fraudulent transactions at the Deer Park Apple Store near Chicago, according to the Chicago Tribune. Lake County authorities tell the paper that the scheme is an "organized criminal enterprise."
Last week, authorities learned that the scheme was being attempted at various Apple Stores in the Chicago area. The suspects were using stolen identities and credit card numbers throughout the country to make purchases, according to police.
Christopher Covelli, a spokesman for the sheriff's office, told the Chicago Tribune that the suspects would fly into O'Hare International Airport, rent a car, and immediately head to local Apple Stores to attempt the enterprise. Authorities began increasing patrols and surveillance around the Deer Park store after another store in Schaumburg was targeted. Between Wednesday and Sunday, six people attempted the scheme at the store. Police recovered $10,000 worth of stolen Apple products from the alleged suspects.
Covelli said the traveling scheme is not common with out-of-state individuals.
Apple became a target of anti-U.S. protest in China this week, following an international ruling against the country's controversial territorial claims.
Reuters reports that a "handful" of unofficial Apple stores were picketed and social media users encouraged each other to destroy their Apple products, as the company became a symbol of perceived injustice in its biggest overseas market.
Earlier this month, The Hague declared that China has no legal basis for its claim to most of the South China Sea, prompting state media to call the international court a "puppet" of external forces, and accuse the U.S. of turning the Philippines (which filed the case) against China.
About a week later, on Tuesday, over 100 protestors picketed four unofficial Apple dealers in the eastern province of Jiangsu, urging customers not to buy the genuine Apple goods on sale.
"They chanted, 'boycott American products and kick iPhones out of China,'" store owner Zhu Yawei told Reuters. "But nothing really happened: no fights, no smashing."
Meanwhile, anti-Apple sentiment flooded Chinese social media as people took to microblogging site Weibo to upload pictures of what they described as their smashed iPhones.
Not all Apple users shared the same view, however, and state media called for restraint following the limited protests.
"It's cheap nationalism and outright stupidity," said Shan Mimi, a 23-year-old assistant at a Shanghai law firm. "But if you were to offer me an (upcoming) iPhone 7, then I would gladly smash my iPhone 6!"
"I didn't smash my iPhone," one Weibo user told Reuters. "All I did was find a photo (of a smashed handset) on the internet and let off some steam. Boycotting Apple would only make Chinese people lose their jobs - many work for Apple."
Though the protests were small, some observers expressed concern about the impact they could have on Apple in the longer term, citing protests over the country's territorial dispute with Japan in 2012 that turned violent. Japanese automakers suffered plummeting sales in China as a result of the unrest and cut manufacturing in the country by half.
"There's not much Apple or any other foreign firm can do to prevent such patriotic protests," Canalys research analyst Nicole Peng told Reuters. "These incidents happen every few years."
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Apple has posted a series of job listings for its first retail store in Taiwan. The company is looking to fill Genius, Expert, Manager, Store Leader, and Business Leader positions, among others, while applications for the Apple Store Leader Program are open ahead of a September 2016 start date.
Apple confirmed to Reuters that it will open its first retail store in Taiwan, but it did not disclose a specific location. The company operates over 40 retail stores in the Greater China region, which encompasses Taiwan, including 41 in mainland China and five in Hong Kong. Many stores are located in Galaxy or MixC shopping malls.
The news comes just one day after Apple announced its first retail store in Brooklyn will open on Saturday, July 30 at 10:00 a.m. local time. Apple has eight other stores within New York City limits, including six in Manhattan, one in Queens, and one on Staten Island. Another store will open at the World Trade Center later this year.
Apple has aggressively expanded its retail footprint in the Greater China region, including China, Hong Kong, and Taiwan, over the past few years. The company recently achieved CEO Tim Cook's goal of reaching 40 stores in the region ahead of schedule, while in the U.S. it has focused on renovating existing stores with new designs.
Apple today released a new update for Safari Technology Preview, the experimental browser Apple first introduced on March 30, 2016. Apple designed the Safari Technology Preview to test features that may be introduced into the release version of Safari.
Apple's goal with Safari Technology Preview is to gather feedback from developers and users on its browser development process. Safari Technology Preview can be run side-by-side with the existing Safari browser and while aimed at developers, it does not require a developer account to download.
AirPrint enables wireless printing from iPhone, iPad, iPod touch, and Mac without having to install additional software or drivers. The technology is supported by dozens of printers sold by Brother, Canon, Dell, Epson, HP, Lenovo, Lexmark, Panasonic, Ricoh, Samsung, Toshiba, Xerox, and other manufacturers.
Canon's MAXIFY lineup of all-in-one printers are designed for home or small office use, with built-in copying, scanning, and faxing capabilities alongside cloud-connected features through the free Canon PRINT app. The all-new printers retail for between $149.99 and $399.99 on Canon's website based on U.S. pricing.
Apple today released the third developer beta of Safari 10 for OS X Yosemite and OS X El Capitan users, allowing those who don't yet want to install the macOS Sierra operating system to test out the upcoming Safari update.
The third Safari 10 beta for Yosemite and El Capitan can be downloaded from the Apple Developer Center or over-the-air through the Software Update mechanism in the Mac App Store for those who installed the first two Safari 10 betas.
As in previous betas, Safari 10 for Yosemite and El Capitan does not include all of the features that are available or will be available in macOS Sierra, like Apple Pay on the web and Picture in Picture support, but the Safari 10 functions listed below are available.
- Safari Extensions
- New Bookmarks sidebar, including double-click to focus in on a folder
- Redesigned Bookmarks and History views
- Site-specific zoom
- Improved AutoFill from your Contacts card
- Reader improvements
- HTML5 and legacy Plug-ins
- Allow reopening of recently closed tabs
- Back closing spawned tabs
- Improved ranking of Frequently Visited Sites
- Web Inspector Timelines Tab
- Debugging using Web Inspector
With OS X El Capitan, Safari 10 also supports the development of Safari App Extensions, allowing developers to start creating extensions that will eventually be sold through the Mac App Store. Also unique to El Capitan is Spotlight suggestions for Top Hits.
Safari 10 will be released this fall alongside macOS Sierra.
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