Webwire: Temasek pares Shin stake; Apple rejects cheap iPhone rumor?
Singapore state investment company Temasek Holdings has sold a nearly 10% stake in Shin Corp, owner of 40% of Thai mobile operator AIS and 41% of Thaicom, for 20.9 billion baht ($689.8 million). Temasek's stake in Shin Corp has now been reduced to 13.3%.
A Chinese newspaper has reported that Apple marketing chief Steve Schiller dismissed widespread rumors that the company is working on a low-cost iPhone for developing markets, citing the company's abnormally high profit margins.
Women in developing countries are 25% likely than men to have regular internet access, and just 21% of women in the developing world are online today, according to a report from Intel, the UN and the US State Department.
An analysis of Apple's various reports on total iTunes downloads and developer payments suggest that the total iTunes economy – including gross revenues generated by Apple, developers and media publishers – is worth around $12 billion a year.
Sources say Sprint Nextel is confident it does not need to raise its $2 billion offer for Clearwire in the face of a higher bid from DISH, as it believes its proposal has non-monetary advantages.
ZTE plans to launch smartphones powered by Mozilla Foundation's Firefox OS in Europe – and potentially in the US - this year.
Samsung has used CES to display a prototype bendable smartphone, which uses OLED screen technology.