Google Inc (NASDAQ:GOOG)’s Nexus 7 in Japan gives Sony competition
Google Inc(NASDAQ:GOOG) has started selling its Nexus 7 tablets in Japan giving the Japanese Company Sony some tough competition in the tablet space. Sony Corp’s tablets also run on Google’s operating system. With tablets getting to be increasingly popular for online content search, Google is trying to assume a bigger role in the market, hoping to keep its web services at the forefront.
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The Nexus 7 measures 7 inches diagonally and has a starting price of 19,800 yen or $250. The product will hit Japanese store shelves on October 2. Although the devices are already available in the U.S., Canada, UK, France, and Germany, Japan is the first Asian country to sell the gadget.
According to Google’s Executive Chairman Eric Schmidt, the company’s Android operating system on smartphones and other devices currently has 500 million users. He has also said that the launch of Nexus 7 in Japan, will lead to a startup boom in the country.
As of now, Apple’s iPad is the leader in the tablet market. Amazon’s Kindle, Barnes and Noble’s Nook and Samsung’s Galaxy are the other prominent players.
Shares of GOOG rose another 0.65% to record high of $754.30 after soaring over 2% in yesterday’s session on ad business optimism.
Facebook Inc (NASDAQ:FB)’s decline continues on concerns of mobile user growth
Fresh concern among Facebook Inc(NASDAQ:FB) investors about growth in the number of the social networking site’s users on mobile devices has led to shares tanking to $20.79, down 9.1 percent. The stock is now trading at 45 percent below listing price.
To add fuel to these concerns, Barron’s has said that the stock is overvalued and that the price may drop to $15. It also expects that fresh lockup expirations due in October and November will keep the stock price down for some time.
The stock had started rising earlier in September when Mark Zuckerberg had addressed a conference and admitted to the mistakes the company had made in the past and the future mobile growth prospects.
Shares of FB had tumbled 9% in yesterday’s session. The stock is now up 1.50% to $21.10.