Nigeria governor, 5 others die in helicopter crash






LAGOS, Nigeria (AP) — A navy helicopter crashed Saturday in the country’s oil-rich southern delta, killing a state governor and five other people, in the latest air disaster to hit Africa’s most populous nation, officials said.


Nigeria‘s ruling party said in a statement that the governor of the central Nigerian state of Kaduna, Patrick Yakowa, died in the helicopter crash in Bayelsa state in the Niger Delta. The People’s Democratic Party’s statement described Yakowa’s death as a “colossal loss.”






The statement said the former national security adviser, General Andrew Azazi, also died in the crash. Azazi was fired in June amid growing sectarian violence in Nigeria, but maintained close ties with the government.


Yushau Shuaib, a spokesman for Nigeria’s National Emergency Management Agency, said four other bodies had been found, but he could not immediately give their identities.


The crash occurred at about 3:30 p.m. after the navy helicopter took off from the village of Okoroba in Bayelsa state where officials had gathered to attend the burial of the father of a presidential aide, said Commodore Kabir Aliyu. He said that the helicopter was headed for Nigeria’s oil capital of Port Harcourt when it crashed in the Nembe area of Bayelsa state.


Aviation disasters remain common in Nigeria, despite efforts in recent years to improve air safety.


In October, a plane made a crash landing in central Nigeria. A state governor and five others sustained injuries but survived.


In June, a Dana Air MD-83 passenger plane crashed into a neighborhood in the commercial capital of Lagos, killing 153 people onboard and at least 10 people on the ground. It was Nigeria’s worst air crash in nearly two decades.


In March, a police helicopter carrying a high-ranking police official crashed in the central Nigerian city of Jos, killing four people.


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Leaked BlackBerry Handset Appears to Emulate iPhone’s Design






Photos of RIM’s first handset that will run BlackBerry 10 — the company’s next operating system, which is scheduled for release in early 2013 — landed on a Vietnamese forum this week. If the 18 photos of the device on tinhte.vn are to be believed, the L-Series, codenamed BlackBerry London, looks quite similar to Apple‘s iPhone 5.


The BlackBerry-branded device in the photos has a rectangular touchscreen with a black bezel along the top and bottom of it, a la the iPhone 5. Watch the video above to learn more. In the photos, the device is powered off, so we don’t get a peek at the OS, but you can see BlackBerry 10 running on a different touchscreen device, in the slideshow below.






[More from Mashable: Dropbox for iOS Gets a New Coat of Paint]


RIM is scheduled to launch BlackBerry 10 and two new smartphones Jan. 30.


BlackBerry 10 Lock Screen


You unlock a BlackBerry 10 device by swiping up from the bottom of the screen.


[More from Mashable: Apple Names Its Best iPhone and iPad Apps of 2012]


Click here to view this gallery.


Photo via tinhte.vn


This story originally published on Mashable here.


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Sundance film “End of Love” finds distributor






LOS ANGELES (TheWrap.com) – Gravitas Ventures and Variance Films have acquired all North American rights to writer-director Mark Webber‘s drama “The End of Love,” the companies announced on Thursday.


The father-son drama, which debuted at this year’s Sundance Film Festival, stars Webber alongside Shannyn Sossamon (pictured), and Webber’s real-life son Isaac Love, and features appearances by Michael Cera, Jason Ritter, and Amanda Seyfried.






The film tells the story of struggling actor Mark (Webber), who is forced to grapple with his inability to grow up when the mother of his two-year-old son Isaac suddenly dies. As he kindles a relationship with a young single mother, Mark begins to realize that he can no longer remain in denial about the real-life consequences his choices have on Isaac.


Gravitas Ventures will debut the film across all major video on demand (VOD) platforms on January 21, 2013 with a theatrical release from Variance Films beginning March 1 2013 in select markets.


“Propelled by the authenticity and intimacy of the performances, our acquisition team was unanimous that ‘The End of Love’ was one of the strongest films not only of Sundance, but of all of the films we saw last year,” said Nolan Gallagher, founder and CEO of Gravitas Ventures.


“I’m thrilled that ‘The End of Love’ has found a home with Gravitas and Variance,” said Webber. “In the rapidly changing landscape of how films are seen, these two companies are at the forefront of embracing that change.”


Movies News Headlines – Yahoo! News


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Child deaths and bitter cold in Syrian refugee camps






ZAATARI, Jordan (Reuters) – One-year-old Ali Ghazawi, born with a heart defect, faced a battle for survival even before his family fled Syria‘s civil war. It was a struggle he lost two weeks ago in the bitter winter cold of a tented refugee camp in north Jordan.


Ali died two days after undergoing a heart operation in Zaatari camp, which houses at least 32,000 refugees who escaped fierce bombardment in Syria’s rebellious southern province of Deraa, cradle of the uprising against President Bashar al-Assad.






“I covered my son with two blankets, but he was not warming up, and he turned blue before he passed away in my hands,” said his sobbing 22-year-old mother, alone with a three-year-old daughter after she left her husband in Deraa and crossed the border in November.


Ali was the fourth baby to die in three weeks in the windswept camp. United Nations aid workers say none of the deaths were the direct result of conditions in Zaatari, yet they highlight the challenge facing relief agencies scrambling to provide basic shelter for half a million refugees in the region.


“These deaths are a result of cumulative factors, some related to shortage in needs and natural causes. But on top of that, the reality that conditions are harsh cannot be ignored,” said Saba Mobaslat, program director at Save the Children.


Jordan, Lebanon and Turkey each host more than 130,000 registered refugees, and relief workers predict the numbers will only increase as violence escalates around the capital Damascus.


Mirroring Syria’s youthful population, almost 65 percent of Jordan’s camp residents are newborns and young children.


“Every night we are getting children as young as four days old, six days old, one week, two weeks old, and it’s a real struggle to try to make sure that everyone survives,” said Andrew Harper, Jordan head of the United Nations High Commissioner for Refugees (UNHCR).


“Women are giving birth on the border, and people are coming across pregnant. It’s a situation where we just need to redouble efforts, particularly as we move into winter, because you have hundreds of pregnant women who cross the border,” Harper said.


Families often send the most vulnerable to safety, he added, so alongside the very young in Zaatari are many older refugees. “Last night we had a couple who were 97 years old,” he said.


“CHILDREN’S CAMP”


Along the main road in the middle of the camp’s muddy and gravel streets, children of all ages race around the makeshift market place that sprang up after the camp opened in July.


Many families join in, out of enterprise or necessity, selling everything from hot falafel to household goods, old clothing and fresh vegetables.


“It’s a children’s camp. You walk into it and there are children everywhere. It’s in your face. The male adults are staying behind, and a woman comes with 10 children without her bread earner,” Mobaslat added.


In one of several UNICEF-run playgrounds, among seesaws, swings and volunteers giving music lessons, the scars of war are fresh in the minds of most children.


“I long for my home, and I hope Bashar falls to get back to my home. It’s much better than here, where we are humiliated,” said Mohammad Ghazawi, 12, who came to play after a break from selling cheap cigarettes.


Their elders complain that two thin blankets per refugee distributed in recent weeks were not enough to warm them in tents that let in rain water despite zinc reinforcements and waterproof layers that have helped insulate them.


“Kids are dying from cold and lack of blankets. My kids shiver at night, and one has constant diarrhea,” said Mohammad Samara, 46, who fled heavy shelling in the southern Syrian town of Busr al-Sham in October with his wife and four children.


Carsten Hansen, country director for the Norwegian Refugee Council (NRC), which has set up a heated tent that receives families on arrival, says much progress has been made to help distribute aid.


“Everybody is trying to mobilize resources … in order to react to bigger numbers and a huge influx,” Hansen said, adding that 6,000 gas heaters had been airlifted to Jordan to help heat the tent camp.


FROM CRISIS TO DISASTER?


Harper said UNHCR was working to prevent “this humanitarian crisis becoming a major disaster”. But he said that while aid teams were racing to improve conditions at Zaatari, there were 100,000 other registered refugees living outside the camp and probably another 100,000 unregistered, whose living conditions were not improving.


In Lebanon, too, host to 154,000 refugees, many face a bleak winter, and aid workers expect their numbers to more than double by the middle of next year.


In the Bekaa Valley town of Bar Elias, a woman from the northern Syria province of Idlib says her home for the last year has been a wooden shack with only plastic sheeting to protect from the rain. Plastic bags are stuffed into the roof as extra insurance against leaks. “There is no water, no electricity, no school for my kids,” she said in a croaky voice.


“My husband is sick. The situation is very bad.”


Mads Almaas, NRC country director in Lebanon, said many more may flee Syria over the winter to escape worsening conditions there, putting even greater strain on relief efforts.


“The violence will not only continue but also get worse. And even in the increasingly likely event of the fall of Assad, we don’t think the violence will end,” he said.


Almaas said the United Nations would launch a regional response plan on Wednesday anticipating a total of 300,000 registered refugees in Lebanon by mid-2013. “At first we thought it was too high. Now we are concerned it is too low,” he said.


In Turkey, which hosts 136,000 refugees, camps for the most part have facilities such as portable electric heaters, and refugees receive three hot meals a day from the Red Crescent. But temperatures can plunge below freezing in the rugged terrain along the 900 kilometer (560 mile) border with Syria during the winter months, and rain can be torrential and cause flooding.


Overcrowding remains a concern, with extended families cramped in single tents and ever more refugees arriving as fighting across the border drags on.


Across the region, aid workers fear an explosion in violence could leave them seriously overstretched.


“Right now funds are sufficient. What is a challenge is if we get any shocks, something like 5,000-10,000 refugees arriving (in Lebanon) in a matter of hours,” Almaas said.


If fighting swept through the center of Damascus, thousands of Syrians could flee to the Lebanese border in a matter of hours. “For that, we are not prepared as the NRC. I also question the international community’s capacity.”


(Additional reporting by Oliver Holmes in Beirut and Nick Tattersall in Ankara; Editing by Dominic Evans and Will Waterman)


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Boeing delivers first new jet to Iraq in decades






BAGHDAD (AP) — The first new Boeing Co. jetliner sold to Iraq in 30 years touched down in Baghdad on Saturday, signaling the country’s determination to rebuild its economy after decades of war and sanctions.


Iraq is eager to improve its creaky aviation industry, which lags far behind that of its energy-rich neighbors. Boeing‘s delivery of the twin-aisle 777-200LR plane comes less than two weeks after the company’s chief rival Airbus announced the delivery of one of its own wide-body planes to Iraq.






“The arrival of this plane represents a big chance for Iraqi Airways to turn around,” Iraqi Transportation Minister Hadi al-Amiri said.


More planes are coming. Iraq has ordered another 30 of Boeing’s smaller 737-800 model and 10 of its new 787. The first of the 737s will be delivered in the middle of next year, according to the Chicago-based plane maker.


Airbus in early December said it had delivered its first A330-200 to Iraq. Iraqi Airways, which plans to use that plane on European and other international routes, already operates two Airbus A321s.


Boeing last sold Iraq a commercial plane — a version of the 747 jumbo jet — in 1982, said Donald Galvanin, the company’s sales director for the Middle East. He said this weekend’s delivery is an important step toward improving Iraq’s economy.


“To bring in business, you need a connection with outside … and a viable airline,” he said.


Iraq was able to get the 777 delivered now because another customer was unable to take it, Galvanin said. He said he expects Baghdad may be interested in buying more of the long-range jets down the road because “they realize they would need a few more.”


The U.S. Embassy said it worked closely with Boeing and Baghdad to complete the 777 sale. Financial terms were not disclosed.


Iraqi Airways’ efforts to turn itself around have been hobbled by ageing equipment, a lack of adequately trained staff and a long-running dispute with Kuwait stemming from Saddam Hussein’s invasion in 1990.


The disagreement centered on Kuwait’s accusations that Saddam’s regime stole 10 airplanes and millions of dollars’ worth of equipment and spare parts during the invasion. Kuwait earlier wanted to $ 1.2 billion in reparations, which Iraq’s postwar leaders had resisted paying.


Iraq and Kuwait earlier this year reached a $ 500 million deal to settle the airline feud, paving the way for Iraqi Airways to resume normal operations. The dispute had scuttled at least one planned Iraqi Airways route, between Baghdad and London, after Kuwait attempted to confiscate the Iraqi plane in the British capital.


As Iraqi Airways has struggled, foreign airlines have increasingly begun flying to the country, eating into the national carrier’s share of the market.


They include airlines from neighboring countries, including Turkish Airlines and Royal Jordanian, and well-funded Gulf airlines such as Emirates and Etihad Airways. Austrian Airlines last year became the first major western carrier to resume regular flights to Baghdad since the 2003 U.S.-led invasion.


Foreign airlines are increasingly offering flights to other Iraqi cities as well, particularly Irbil in the self-ruled Kurdish region. The Kurds’ northern enclave is much safer than the capital and is a popular destination for foreign investors looking to break into the Iraqi market.


No U.S. commercial airlines fly regularly to Iraq. The U.S. Federal Aviation Administration last week lifted a 16-year-old a ban on American carriers flying to Irbil and Sulaimaniyah, also in the Kurdish area. The agency said flights to other Iraqi airports may be allowed in the future.


___


Associated Press writer Sameer N. Yacoub contributed reporting.


___


Follow Adam Schreck on Twitter at http://twitter.com/adamschreck


Economy News Headlines – Yahoo! News


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App of the Week: Manilla






App Name: Manilla


Price: Free






Available Platforms: Apple’s iOS ( iPad, iPod Touch and iPhone), Android


What does this app do? Manilla provides a secure way for you manage and organize your bills on your mobile device, tablet or desktop. This finance app, of which an updated version for the iPhone 5 was released this week, allows you to link to your accounts, set up reminders to pay your bills, and keep track of household finances such as utilities and services.


From your mobile device, select the “Accounts” tab to see a queue of accounts you linked to within the app. On the bottom right, tap the settings button to add an account.The new release also lets you manage your accounts with local businesses or individuals who do not have an online payment system – the landscaper or babysitter, for example.


Press the “Reminders” tab to select a business you use, such as your wireless carrier. The app will display a screen with your account and bill information as well as let you set up reminders to pay your bill, which will be delivered through email or text message. Select, “View Bill,” to see details, such as when you made your last payment, or select “Documents” and the app’s built in PDF viewer will display your bill within the application.


You cannot pay your bill directly from the app. However, select “Go to Site” and the app will direct you to a business’s website where you can pay your bill.


Is it easy to set up? Yes. Once you download Manilla, the app requires you to register with an email and password.


Should I try it? Manilla takes all of your bill information and puts into an easy-to-use interface, and with over 3,500 businesses the app makes it easy to link to a variety of accounts. If you’re interested in building and monitoring a budget, too, you will find a better solution with Mint.com’s app. Still, Manilla makes keeping track of all of your bills simple – a sure way to stay on top of your finances.


Also Read
Wireless News Headlines – Yahoo! News


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“Homeland” leads old favorites in Golden Globes TV race






LOS ANGELES (Reuters) – Cable shows got more Golden Globe nominations for television than traditional network programs on Thursday as HBO‘s political movie “Game Change” and Showtime‘s psychological thriller series “Homeland,” – one of last year’s big winners – led the race.


“Homeland” led the TV drama category with four nominations including best drama, best actor for Damian Lewis and best actress for Claire Danes in her role as a bi-polar CIA agent tracking down a home-grown Muslim extremist.






The show faces stiff competition from British aristocratic drama “Downton Abbey, which also won an acting nod for Michelle Dockery, along with “Breaking Bad,” “Boardwalk Empire,” and newcomer “The Newsroom.”


“‘Homeland’ fans seemed to be a little more split on whether creatively the second season was as successful as the first season so it’ll be curious if that ends up impacting the show’s chances in terms of taking home the awards,” James Hibberd, senior staff writer at Entertainment Weekly, told Reuters.


Downtown Abbey” creator Julian Fellowes told Reuters: “We’re up against the big boys now, but the whole thing is very flattering and exciting.”


He added: “The themes of the show are pretty international, they’re about adjusting to change and being caught out by what life does to you…all of that is common to every country.”


HBO movie “Game Change,” about the surprise selection of Sarah Palin as John McCain’s running mate in the 2008 presidential campaign, landed five nods in the miniseries/movie category, including for actors Julianne Moore and Woody Harrelson.


“‘Game Change’ is pure awards bait. It’s a well-done, smart political drama based on a book, with a certain amount of left-wing political slant and it’s very much the type of movie you’d expect awards voters to like,” Hibberd said.


New HBO drama “The Newsroom” bumped long-time awards favorite “Mad Men” from the best drama category, surprising many who believed the stylish advertising series was a shoo-in.


“The Globes tend to like the glamorous and sophisticated dramas with big city settings and they tend to shy away from gritty, rural Americana dramas…about sweaty guys with guns instead of charming men in suits, like ‘The Newsroom’ and ‘Boardwalk Empire,’” Hibberd said.


He noted that the only exception was “Breaking Bad,” which finally made the best drama category this year after four seasons on air.


Other notable snubs included HBO‘s epic fantasy drama “Game of Thrones,” which failed to pick up any nominations, and Ryan Murphy’s miniseries “American Horror Story: Asylum” which landed one best actress nod for Jessica Lange, who took home the award for 2012.


‘MODERN FAMILY’ LEADS COMEDY RACE


While last year’s Golden Globes picked newcomers over staple awards favorites for leading nominees, this year’s comedy categories saw the return of many old faces, including “Modern Family,” which led the comedy race with three nods.


Comedians Tina Fey and Amy Poehler, who will be hosting the awards ceremony on January 13, each landed a best comedy actress nod in the television race for their long-popular NBC comedies – Fey for “30 Rock” and Poehler for “Parks and Recreation.”


“You can be sure that the hosts are going to have fun with this during the telecast, they’re going to find ways to play off this during their presentation,” Hibberd said.


Fey and Poehler will replace Ricky Gervais at the awards gala dinner, after the British comedian helmed the Globes with his risqué dry humor for three years.


HBO‘s raunchy new comedy “Girls” earned two key nominations in the best TV comedy category and best comedy actress for Lena Dunham, while Showtime‘s new satire “House of Lies” landed the show’s lead Don Cheadle a best actor nod.


With the exception of NBC’s musical comedy “Smash” in the best comedy series category, no new network comedies managed to break into key races, which Hibberd attributed to a “disappointing” fall season.


Cable channel HBO picked up 17 nominations and Showtime garnered 7 across all major television categories. Networks ABC had 5, CBS and NBC got 4, and Fox got 2.


(Reporting By Piya Sinha-Roy, editing by Jill Serjeant)


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S.Africa’s Mandela had gall stones removed, recovering: govt






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Hope for Humans in the Race With Robots






The robots are coming. Resistance is futile. From car factories to microprocessor plants to fulfillment warehouses, a single robot can now handle tasks that once took hundreds of man-hours to complete. This relentless march of automation is causing economic upheaval. As time goes on, companies will become more productive and more efficient, but the amount of human labor required will decrease and the pay will be less. The sentient worker will be reduced to a relic of a simpler age.


This is what we’ve been told, anyway. To some economists, stubbornly high unemployment rates in the U.S. and Europe are at least partly attributable to the rise of machines. “There’s no question that in some high-profile industries, technology is displacing workers of all, or almost all, kinds,” wrote Paul Krugman in the New York Times on Dec. 9, adding that “many of the jobs being displaced are high-skill and high-wage.” Massachusetts Institute of Technology professor Erik Brynjolfsson, co-author of Race Against the Machine, says: “Robots are becoming more capable and skilled, and people with the same sets of skills are not as much in demand.” According to this view, robots aren’t change agents. They’re destroyers of worlds.






Yet the robot revolution doesn’t have to cause panic. While robots can claim some technological superiority over humans, even the most sophisticated machines have limitations. Automation will inevitably displace jobs, but it’s already bringing fresh economic opportunities as well. The last two decades have shown how technology can create industries even as it turns whole cities into has-beens. The ratio of jobs created to jobs eliminated by robots and where all the newfound wealth ultimately winds up are entirely dependent on how workers, businesses, and policymakers prepare for this new era.


History is punctuated with scares about automation, with industries rising and falling based on changing technologies. Toward the end of the 18th century, 90 percent of the U.S. population was involved in farming. Farmers now make up 2 percent of the domestic workforce because of innovations such as tractors and grain combines. Meanwhile, our modern economy includes people who make a living creating mobile apps, a profession that was inconceivable a generation ago.


More than any economy in the world, the U.S. has proven to be especially resilient in the face of massive technological change. Why should recent advances in robotics be any different?


One reason is the accelerating pace of change. “We have a growing mismatch between the speed of technological development and our ability to adapt to it,” says Brynjolfsson. Technological developments used to take time to work their way into society. The internal-combustion engine was developed in the latter half of the 19th century, but it displaced the horse as a means of transportation only some 50 years later. The World Wide Web, on the other hand, has upended industries in less than 20 years. Moore’s Law is faster than Otto’s cycle.


All that said, it’s too soon to write dirges for the humble human worker. In today’s workplace, there are still things that robots just can’t do. At Quiet Logistics, an order-fulfillment center for online retailers in Devens, Mass., 64 robots are used to move merchandise around the warehouse, but 330 humans are required to fold, package, and ship the products. Why not have robots do the whole thing? “People are really good at picking up things,” says Bruce Welty, Quiet Logistics’ chief executive officer. “It’s very difficult to get a robot to make the decisions required that a human makes to pick something out of a bin—particularly if there are many different things in that bin.”


Humans continue to have another advantage over robots: They remain a more flexible workforce. To handle this year’s holiday shopping season, Amazon.com (AMZN) hired 50,000 part-time workers. While seasonal, part-time labor is not something you can necessarily build an economy on, it’s worth noting that Amazon didn’t buy more robots, because you can’t hire a robot part-time (yet). What would additional robots do when demand receded? “Come January,” says Jim Tompkins, a supply-chain consultant, “all that automation’s going to be staring you in the face.”


This is the state of the robotic arts today: a point where humans and robots share labor, with robots handling the simple and repetitive and humans taking care of the complex and dynamic. Some robotics designers and engineers would like this to be a blueprint for the future, where increased automation does not necessarily displace human beings. Rodney Brooks, a former MIT robotics professor, is an optimist. To Brooks, who is also founder and chairman of robot maker Rethink Robotics, these machines are going to help workers, not compete with them. He points out that personal computers didn’t get rid of office workers, they changed the jobs people did. When it comes to robots, “it’s not a one-for-one replacement,” he says. “People are so much better at certain things.”


But robots are still in their relative infancy. As faster processors and improved sensors enhance robots’ capabilities, it’s highly possible that the peaceful coexistence between man and machine may evolve into something more competitive. “In manufacturing, there’s already a ton of innovation going on,” says Brynjolfsson. Economists like him fear that as robots get smarter, the gross domestic product will expand at a healthy clip, but that positive data would mask reduced employment and lower wages. “Can GDP continue to grow? Of course it can,” says MIT economist Frank Levy. “The question is: Can everyone benefit?”


Extrapolate this further, and the role robots play in our economy and our lives begins to provoke fundamental questions about the nature of work. We have organized our economic system around the idea that income is derived from labor. But what happens when labor is not just transferred from one group of people to another (outsourcing) but to machines?


History has never shown that a life of idle hedonism brings out the best in human beings. We excel when we are creative and productive. To ensure that continues to be the case, we can’t ignore or prevent the growth of automation, but we can bring our considerable talents to bear on determining what the future of work will look like. For the U.S., that will require innovation and entrepreneurship, but also policies that foster those things—such as an immigration policy that attracts and retains high-skilled newcomers who can help build job-creating industries, and a corporate tax rate that encourages investment in domestic opportunities and not offshore tax-haven chicanery. Critically, more of the wealth created by productivity gains needs to be channeled into a stronger system of education and training.


If the robot threat proves overblown and automation is not as transformative as is predicted or feared, then none of those efforts will have been in vain—they are answers not just to the threat of robots, but also to many other issues that challenge U.S. economic potential. “Our economy has a lot of problems,” says Northwestern University economist Robert Gordon. “If you’re looking for new problems, it’s not robots.” It makes more sense to adapt to robots’ taking our old jobs than to fight against it. Who knows? Once we figure out how to work with robots, we might even learn to love them.


Businessweek.com — Top News


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Apple falls on lower shipment forecasts, muted China debut






(Reuters) – Apple Inc shares fell 3.9 percent on Friday after the iPhone 5 debuted in China to a cool reception and two analysts cut shipment forecasts.


Jefferies analyst Peter Misek trimmed his iPhone shipment estimates for the Jan-March quarter, saying that the technology company had started cutting orders to suppliers to balance excess inventory.






Shares of Apple suppliers Jabil Circuit Inc, Qualcomm Inc, Skyworks Solutions Inc, TriQuint Semiconductor Inc, Avago Technologies Ltd, and Cirrus Logic Inc also fell in early trading.


Apple shares have lost a quarter of their value since they hit a life high of $ 705.07 on September 21, as it faces increasing competition from phones using Google Inc’s Android operating system.


Misek cut his first-quarter iPhone sales estimate to 48 million from 52 million and gross margin expectations for the company by 2 percentage points to 40 percent.


UBS Investment Research cut its price target on Apple stock to $ 700 from $ 780 on lower expected iPhone and iPad shipments for the March quarter.


The brokerage said it was modeling more conservative growth for the world’s biggest technology company after making supply chain checks that revealed that fewer iPhones were being built.


“Some of our Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S,” UBS analyst Steven Milunovich wrote in a note to clients.


Apple launched the iPhone 5 in China on Friday, a move widely expected to bring the Cupertino-based company some respite from a recent slide in market share in China, but early reports indicated that demand may not be as great as expected.


“The iPhone 5 China launch has been surprisingly muted but (we) are unsure how much weather (snow) or the required pre-ordering (to prevent riots) are factors,” Misek said.


Apple shares fell as low as $ 508.50 in morning trading on the Nasdaq on Friday.


(Editing by Supriya Kurane)


Tech News Headlines – Yahoo! News


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