Tuesday, October 30, 2012

Rogers first to sell Nokia Corporation (NYSE:NOK) Lumia 920, Slower growth for Baidu.com, Inc. (NASDAQ:BIDU)

The Chinese Internet giant Baidu.com, Inc. (ADR)(NASDAQ:BIDU)’s profit for the quarter ending September 30 has risen by 60 percent.  However, revenue growth has lost pace because of the slowdown in the economy.

The Beijing based company’s profits for the latest quarter were $478.6 million or 3 billion yuan.  Revenue rose 49.7 percent to $999.46 million or 6.3 billion yuan.  This is much lower than last quarter’s growth of 60 percent.

Baidu’s share in the Chinese Internet search market is 78.6 percent, way above the number two company, Google, which commands only 15.4 percent.

Rogers has announced that it will be the first carrier to sell the Nokia Corporation (ADR)(NYSE:NOK )’s Lumia 920.  John Bynton, Rogers’ Chief Marketing Officer has said that the phone will be available on the shelves of its few select stores soon.  The company has priced to the phone at $99.99 for a 3 year period and $549.99 for a month to month plan.  Currently, the phone is available only in black.

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