Facebook on Tuesday raised its initial public offering price target range to between $34 and $38 per share in response to strong demand, an increase from $28 to $35, according to a new filing with the United States Securities and Exchange Commission. The new price range pushes the social networking company’s valuation to between $93 billion and $104 billion. Facebook will offer a total of 388 million shares, and is looking to raise $14.7 billion. Facebook will make its initial public offering on May 18th and its shares will be listed on the NASDAQ exchange under the “FB” ticker symbol.

[Via TechCrunch]

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Samsung recently updated its website to include a list of T-Mobile devices that will receive Android 4.0 Ice Cream Sandwich upgrades. “Samsung is in close communication with both Google and our carrier partners to upgrade devices to Android 4.0 Ice Cream Sandwich as quickly and as smoothly as possible,” the company wrote on its website. The manufacturer will be issuing over-the-air updates to the Galaxy S II, Galaxy S Blaze 4G, Galaxy Tab 7.0 Plus and Galaxy Tab 10.1. Unfortunately, neither T-Mobile nor Samsung have announced a release schedule for the upcoming updates.

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General Motors, the world’s largest automaker and third biggest advertiser in the U.S., plans to stop advertising on Facebook, The Wall Street Journal reported on Tuesday. After meeting with Facebook managers to address concerns, the company’s marketing executives were left unconvinced of the effectiveness of the site’s advertising methods, claiming its paid ads had little impact on consumers. GM will thus pull its $10 million ad spend, although the automaker will continue to use the social networking site to display free content on its own Facebook page. GM is only skeptical about Facebook, and not about digital advertising as a whole; the company spends almost $300 million each year on digital brand advertising. The news comes at a bad time for Mark Zuckerberg and company, who are on the verge of their initial public offering.

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Sterne Agee analyst Shaw Wu said in a note to investors on Tuesday that Apple has reduced iPhone orders by between 20% to 25% from the 35.1 million units the company shipped in the March quarter. Wu now expects shipments of between 26 million and 28 million iPhones, lower than the Street’s consensus of between 30 million and 31 million units. The analyst also noted that Apple has an estimated 8.6 million iPhones in channel inventory, 2.6 million of which were added in the most recent quarter, allowing the Cupertino-based company to achieve supply-demand balance of between four to six weeks.

“From our understanding, the reason for the reduction is not demand related but rather due to the upcoming 6th generation iPhone refresh likely in the September-October timeframe,” Wu explained. “It appears that AAPL is opting to be conservative with its suppliers to factor in a potential 2-quarter pause ahead of the refresh and also to manage inventory. We believe this helps explain why its June quarter guidance was somewhat more conservative.”

The analyst went on to state that the opposite is occurring with Apple’s iPad tablet, which is seeing increased build plans. Shipments of the device were previously held back due to supply constraints on its new Retina Display, although it has been “greatly improved with an additional supplier.” Wu believes that this will help Apple to better meet the strong demand for its iPad.

For the June quarter, Wu reduced his iPhone forecast from 28 million units to 27 million, and raised iPad shipment expectations from 14 million to 15 million units. Due to improved iPad profitability, the analyst is increasing his gross margin assumption from 42.5% to 43.5% and forecasting $36.1 billion in revenue and $10.16 in EPS. Wu reiterated his Buy rating on shares of Apple stock, as well as his $780 price target.

Nearly two-thirds of consumers in the United States have spent money on mobile applications on at least one occasion according to a survey conducted by ABI Research. More than 70% of users spend little to nothing on apps, however, while the highest 3% of all spenders account for nearly 20% of the total amount spent. “The median amount among the consumers who spend money on apps is much lower than the average, just $7.50 per month,” senior analyst Aapo Markkanen said. “This reflects the disproportionate role of big spenders as a revenue source.” ABI Research also found that the most successful money-making apps have typically been utility apps often used for business purposes, or iOS games that utilize in-app purchases, though in both cases the money comes from a remarkably small number of customers. Read on for ABI Research’s press release.

3% of Users Account for One-Fifth of All Money Spent on Mobile Apps

LONDON – May 14, 2012
​According to a US consumer survey conducted by ABI Research, about two-thirds of app users have spent money on an application on at least one occasion. Among these paying users, the mean spend was $14 per month. Behind the seemingly high average amount there are, however, some striking findings.

Senior analyst Aapo Markkanen explains, “The median amount among the consumers who spend money on apps is much lower than the average, just $7.50 per month. This reflects the disproportionate role of big spenders as a revenue source. The highest-spending 3% of all app users account for nearly 20% of the total spend, while over 70% spends either nothing or very little.”

The numbers also reflect certain trends in different app categories. Thus far, the releases that have best succeeded in making money have typically been utility apps often used for business purposes, or iOS games monetized through strings of in-app purchases. In both cases the money comes from a remarkably small base of customers. Is there anything developers can do to boost the conversion rate from free to premium?

Markkanen has two recommendations. “First, don’t get obsessed by mobile and apps, but remember also the web,” he adds. “Most of the successful app concepts either support, or are supported by, a web component. Second, see your product through a long-term lens, asking yourself what could convince your customers to still engage with the app in two years’ time. Evernote, for example, has excelled at both. It has skillfully combined the web and the mobile, and at the same time it has also managed to become a habit for many of its users. It demonstrates that the longer its customers stick around with a free version of an app, the likelier they’re going to convert to its premium version.”

Half of all Americans think Facebook is a passing fad and the social networking site’s expected asking price of $34 to $38 is too high, according to a joint poll conducted by The Associated Press and CNBC. A third of those surveyed think the company’s expected value is appropriate, while 50% believe it is too high. Of those who invest in the stock market, 58% claimed Facebook was overvalued while nearly 3 out of 10 investors claim the expected share pricing is fair. Despite these claims, half of all the people surveyed believe Facebook is a good investment, compared to 31% who disagree and roughly 19% aren’t sure.

Not surprisingly, those under 35 are the demographic most interested in the company’s IPO because of the great exposure they have had to social networking.

Once Facebook is a publicly traded company, it will have to carefully examine the growing privacy concerns its users have. The survey found that three out of every five Facebook users have little or no faith that the company will protect their personal information, and only 13% trust Mark Zuckerberg and company, while only 12% would feel safe making purchases through the site.

The poll was conducted from May 3rd to May 7th and 1,004 adults were surveyed nationwide.

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A Russian startup that received $100,000 of funding from Microsoft made headlines recently as its emerging efforts to battle digital piracy found their way to the spotlight. Dubbed Pirate Pay, the company’s technology launches attacks on groups of computers hosting pirated content, theoretically making it impossible for them to share copyrighted material. While the company claims to have already successfully trialed its technology when it blocked nearly 45,000 attempts to download pirated copies of a Russian film, one expert believes Pirate Pay’s system may be illegal.“Reading the article it sound like they are spoofing traffic to confuse torrent clients and force disconnects,” former BitTorrent VP of engineering John Pettitt wrote in a note distributed in Dave Farber’s Interesting-People elist, Techdirt reports. ”It’s not at all clear if this will work against all versions of the protocol (particularly the udp based version). Leaving aside the technical issues it’s also unclear if such action is legal.”

Pettitt continued, ”It sounds like a targeted denial of service attack, a major corporation paying for such an attack leaves itself wide open to civil and criminal legal action particularly if they accidentally target the wrong torrent which given the history is highly likely.”

Pirate Pay’s trial was performed in cooperation with Russia-based Walt Disney Studios Sony Pictures Releasing, and it is unknown if the company is currently in talks with any major studios or related companies based in the United States.

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T-Mobile in March said that the company was looking to restructure and in doing so, it cut 5% of its workforce while closing seven call centers. Now, in a memo sent to employees on Tuesday, T-Mobile USA CEO Philipp Humm said the carrier will begin a “new structure” plan that will involve some difficult decisions. “Changes will include some position eliminations and changes to individual roles and responsibilities,” the executive wrote. While no specific details were provided in the note, the letter clearly suggests layoffs are coming to the troubled wireless company in the coming weeks. Humm’s memo follows below in its entirety.

Dear colleagues,

Since the beginning of the year, T-Mobile has stressed that 2012 is a rebuilding year for the company. A vital step in that process was announced in March with the consolidation of our call centers. This week, T-Mobile is taking the second essential step. We are announcing a new structure that further aligns our costs with our revenue realities, enables teams who support our field organization to act and react with greater speed and effectiveness to customer and market opportunities, and better positions us to return to growth.

The new organization required difficult decisions that will impact some of our employees. This week, news will be shared personally with employees and teams who are directly affected by the restructuring. Changes will include some position eliminations and changes to individual roles and responsibilities. It is important to emphasize these impacts to employees result from business decisions. We have tremendous employees here at T-Mobile and we truly wish we could retain all our talent, but our business realities require hard choices. For affected team members, we are providing generous transition support including severance, assistance with COBRA continuation coverage, and outplacement services. As mentioned in the March announcement, customer service representatives in the remaining 17 call centers, technicians in engineering, and frontline employees in our T-Mobile corporate-owned stores will not be affected.

Our rebuilt structure enables T-Mobile to realize significant savings, allowing us to invest in future growth – in particular modernizing our network to LTE, repositioning the T-Mobile brand, and aggressively pursuing the B2B segment where we plan to add 1,000 positions over the next few years. We gain the agility to put resources where the current opportunities are, grow in areas where potential is greatest, and act on emerging opportunities quickly and rationally.

The restructuring provides a sustainable organizational model, centered on our T-Mobile Values, with the following attributes:

A greater focus on driving Customer Delight by reducing the layers between working teams and executive leadership, and shifting and consolidating groups in the field sales regions and the FSC to minimize redundant work – resulting in more effective coordination and communication.

A renewed emphasis on Best Place to Perform and Grow:
Enhanced people manager spans of control (number of direct reports), enabling faster decisions, more ability to execute, and more empowerment of employees at all levels.
Evolution of our leadership model from player-coach, where more time is spent on daily tasks than on planning and guiding, to leader-coach, where time is focused more strategically on coaching, developing, delegating, and motivating.

We approached the restructuring process and decisions with care, rigor and cross-functional alignment. A team comprised of top leaders, with support from industry-leading subject matter experts, worked closely together over the past few months to develop an effective and sustainable structure. We strongly believe the organizational principles we applied are lasting ones. More details on the new organizational structure will be shared in department and team communications this week and more broadly after that.

I want to assure you we will move through the communications this week very thoughtfully, but also as quickly as we can while preserving the quality of the conversations that need to happen. As always, our T-Mobile Values will guide our actions.

Thank you for your patience as we work through what will be a difficult week. Thank you for your continued commitment.

With sincere appreciation,

Philipp Humm
CEO & President
T-Mobile USA

[Via The Verge]

Despite a slew of rumors and speculation that Apple plans to enter the TV business, analysts are beginning to back away from the idea of an “iTV,” Fortune reported. Richard Gardner, formerly of Citigroup, warned in December that “Apple has not even defined specs yet.” Barclays’ Ben Reitzes in February suggested that Apple was focused more on lining up content partnerships than on the production of a full-fledged television set. And now, Analyst Andy Hargreaves of Pacific Crest called the idea “a terrible use of retail space.” 

“Investment in Apple television makes little sense without a unique TV content offering. An Apple television could drive substantial profitability if it helped Apple capture service provider profits,” Hargreaves wrote in a note to investors. ”However, we do not expect U.S. broadcast or cable networks to provide Apple content if it risks cannibalizing existing revenue, which makes a unique Apple service and an Apple television unlikely.”

The analyst continued by saying, “An Apple television would be a terrible use of retail space relative to iPhone, iPad or the Apple TV set-top box. A 46″ Apple television would likely generate less than 1/200th the gross profit per cubic foot as an iPhone at retail, and less than 1/50th the gross profit per cubic foot of an iPad. We believe this is critical given the limited inventory space at many Apple and partner stores.”

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Google’s emerging social network Google+ may boast big user numbers, but a new study suggests that social activity and user engagement are anything but impressive. Intended to give Google a stronger grip on the massive amount of data shared by users on social networks, Google’s answer to Facebook opened its doors to the public last September. After using some user acquisition methods that seemed a bit desperate, Google revealed in December that Google+ was then home to 62 million users. Google+ boasted an impressive 100 million users as of early April, but according to eCommerce analytics firm RJ Metrics, the social network is not the waterfall of data Google hoped it would be.

Fast Company on Tuesday revealed the findings of an RJ Metrics study that analyzed data from a sample of 40,000 public Google+ accounts in an effort to determine just how successful the crown jewel in Google’s social network portfolio really is. According to the firm’s findings, Google+ is a ghost town.

The RJ Metrics suggests that an average post on Google+ gets fewer than one “+1,” the equivalent of a “like” on Facebook, and fewer than one reply as well. Links and other items shared publicly by Google+ users are re-shared just 0.17 times per post on average. Users covered by the study averaged about one post every 12 days, and usage per user declines each month after they make their first public post.

In what is perhaps the most concerning stat from the firm’s study, about 30% of users who make a public post on Google+ never make a second one.

In a statement provided to Fast Company, a Google spokesperson claimed that RJ Metrics’s findings are not accurate.

“By only tracking engagement on public posts, this study is flawed and not an accurate representation of all the sharing and activity taking place on Google+,” the Google spokesperson said. “As we’ve said before, more sharing occurs privately to circles and individuals than publicly on Google+. The beauty of Google+ is that it allows you to share privately–you don’t have to publicly share your thoughts, photos or videos with the world.”

Apple’s much rumored “iPad mini” will reportedly utilize new touch panel technology that allows the device to be thinner than previous models while also managing to cut Apple’s costs, likely a necessity if the company aims to hit the rumored $200-$250 price point. Citing anonymous industry sources, Digitimes on Tuesday reported that the Cupertino, California-based technology giant has contracted Nitto Denko to supply touch panels that utilize “G/F2″ thin-film technology. Nissha Printing and TPK Holding will reportedly build the touchscreens, which measure 7.85 inches diagonally. Digitimes adds that Apple is expected by its sources to ship between 7 million and 10 million iPad mini tablets in 2012. Earlier reports suggest that Apple’s new smaller iPad tablet will launch in October.

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Dish Network made no friends among the major television broadcasters last week, but it will likely pique the interest of tens of thousands of consumers in the coming weeks as news of its latest feature proliferates. Dubbed “Auto Hop,” Dish began rolling out a new commercial-skipping feature to owners of its multi-room digital video recorder, the Hopper. Currently compatible with recorded shows originally broadcast on ABC, CBS, NBC or FOX, Auto Hop skips commercials automatically when enabled, with no action required by the viewer. Groups of ads are replaced by a single black frame for separation, and then the Hopper will skip directly to the next segment of the program.

“Viewers love to skip commercials,” Dish Network VP of Product Management Vivek Khemka said. “With the Auto Hop capability of the Hopper, watching your favorite shows commercial-free is easier than ever before. It’s a revolutionary development that no other company offers and it’s something that sets Hopper above the competition.”

Of course networks aren’t quite as impressed as viewers. ”I think this is an attack on our eco-system,” NBC chairman Ted Harbert said during a conference call on Monday. “I’m not for it.”

Dish Network’s Hopper multi-room DVR hardware and service costs $10 per month, just $4 more than Dish’s standard DVR, and the company’s new Auto Hop feature is now available at no extra charge.

Apple’s next-generation iMac will reportedly feature a new high-resolution Retina display according to a recent report. Earlier this week, reports emerged claiming that Apple is readying a next-generation MacBook Pro with a redesigned ultra-thin case and a 15-inch Retina display. Production of the new MacBook Pro laptops has already begun according to earlier rumors. At the same time, Apple may take the wraps off an updated iMac model that also includes a high-resolution Retina display. ABC News reports that multiple sources have tipped the site off to the imminent launch of a Retina display-equipped iMac alongside a new MacBook Pro with a similar display, though no launch timing was discussed. Many expect Apple to unveil its next-generation iMac and MacBook Pro computers during its keynote at the annual Worldwide Developer Conference on June 11th.

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The statewide ban on texting while driving wasn’t enough for one New Jersey town, according to The Huffington Post. After 74 crashes involving pedestrians in 2011, three of which were fatal, Fort Lee, New Jersey passed a new law earlier this year that fines walkers $85 who do not stop prior to texting. “It’s a big distraction,” Fort Lee Police Chief Thomas Ripoli said. “Pedestrians aren’t watching where they are going and they are not aware.” Since the law has been in place, Fort Lee police have issued more than 117 tickets. New York State Senator Carl Kruger has attempted to bring a similar ban to New York, which would also prohibit talking on the phone or using iPods while walking or running, however Kruger has been unsuccessful thus far.

UPDATE: According to MSNBC, there is no ban on texting while walking in Fort Lee, although there is a $54 jaywalking ticket, of which more than 117 tickets have been issued.

Read [Huffington Post] Read [MSNBC]

NPD Group last week announced that video games sales for the month of April were down 26% and software sales plummeted from $630.4 million to $307.2 million, representing a 42% decline from April 2011. The numbers shocked industry analysts, who predicted a maximum software decline of 27%. The only segment of the gaming industry that did not suffer was the accessories segment, which grew a mere 0.5% from $147.8 million last year to $148.6 million this year. According Gamasutra analyst Matt Matthews, “should the contraction from 2011 continue at this pace, annual U.S. retail video game revenue in 2012 could fall below the $12.6 billion figure from 2006,” representing a six-year low since the first full year of Xbox 360 sales and the launch year for both the Nintendo Wii and Sony PlayStation 3.

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