Nokia launches new company
The world’s first luxury mobile phone company was launched by Nokia, offering hand-crafted cellular phones, adorned with gold or platinum, and costing more than $20,000. Vertu, a new independently run subsidiary of the company, will start selling its phone range at its stores in some of the most exclusive shopping areas in the US, Europe and Asia by mid-2002, the company said.

Palm CEO talks tough on MS rivalry
It seems the gloves have come off between leader Palm and Microsoft in the fight for dominance of the handheld computer software market, and Palm’s David Nagel is jabbing.

Intel boosts investment in Philippines
Intel, the world’s top semiconductor maker, said it will invest $80 million to $100 million this year to upgrade the technology of its test and assembly facility south of Manila.

Motorola reports loss, sees profits in 2002
Wireless technology giant Motorola, posted its fourth consecutive quarterly loss as expected, reflecting a slowdown in customer spending, but projected a profitable year despite two more quarters of losses.

European storage market to touch $10 billion, IDC
According to IDC, the European storage services market is set to reach $10.05 billion by the end of 2005, which represents a compound annual growth rate of just over 8 percent.

CA net loss narrows
Computer Associates has announced that its fiscal third-quarter net loss narrowed and it expects to report a profit sometime in fiscal 2003.

AOL not in talks with Red Hat
AOL Time Warner said it was not in talks to buy with Linux distributor Red Hat, quashing a published report, but analysts said a future partnership between the companies would make sense.

US high-end optical private-line market to top $8 billion by 2005, Gartner
United States high-end optical (OC-n level) private line and wavelength retail and wholesale service revenue are forecast to nearly double from $4.3 billion in 2001 to more than $8 billion in 2005, according to Dataquest, a unit of Gartner.

Meta Facts

IN BRIEF