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Hammered by falling smartphone sales, Samsung is reportedly eyeing major changes for its senior leadership. Samsung's sales for its flagship Galaxy S5 smartphone came in well below expectations, moving 12 million units compared to 16 million for the Galaxy S4. So far, the Galaxy S5 has sold 40% fewer units than the company had anticipated. The shortfall was especially pronounced in non-U.S. markets and the company scrambling to sell inventory that languished in warehouses, according to a report from The Wall Street Journal See also: Samsung released a corporate rap video. What could possibly go wrong? Read more...More about Samsung, Smartphones, Business, Gadgets, and Mobile
Yik Yak, the anonymous messaging app founded one year ago, has raised $62 million in funding, giving it a valuation in the "low hundreds of millions of dollars," according to a report. Sequoia Capital is leading the latest round, Yik Yak's third this year, according to The Wall Street Journal. See also: 10 Startups to Watch in India's Tech Boom The funding and swelled valuation come after Facebook paid more than $22 billion for WhatsApp in February and Snapchat's valuation has eclipsed $10 billion. Sequoia was an investor in WhatsApp, earning more than $3 billion off a $60 million investment, according to the report Read more...More about Startups, Whatsapp, Business, Apps Software, and Yik Yak
WASHINGTON — A senior administration official says Secretary of State Chuck Hagel is resigning from President Barack Obama's Cabinet. His decision comes after two weeks of meetings with President Obama, the New York Times reported, with the president requesting Hagel's resignation on Friday Hagel, a former Republican senator, has served as Pentagon chief since early 2013. Obama is expected to announce the resignation Monday. The official insisted on anonymity because this person was not authorized to discuss the matter publicly ahead of Obama's official announcement. This story is developing... Read more...More about Obama, Us World, Politics, Us, and Chuck Hagel