UPDATE 2-Motorola revives brand with slim Droid Razr
* Unveils combo music player/GPS/performance trackerBy Sinead CarewNEW YORK, Oct 18 (Reuters) - Motorola Mobility
revived its once best-selling Razr brand to tout its latest
gadget, the Droid Razr, as the world’s slimmest smartphone.The company, which has agreed to be bought by Google Inc for $12.5 billion, hopes to compete with arch-rival
Apple Inc’s iPhone when it kicks off pre-orders at
Verizon Wireless on Oct. 27.But the device, which sports a more powerful chip than the
iPhone and a higher-speed wireless connection, costs $299 —
far more than $199 for the latest basic iPhone 4S.NPD analyst Ross Rubin said that while the phone could put
a dent in iPhone sales at Verizon Wireless, it would be
unlikely to sell as many as Motorola’s previous Razr, which
sold more than 130 million units.Only about 10 percent of U.S. consumers would buy a $300
phone, Rubin said. “That’s a relatively small part of the
market. At $199, it would be an explosive seller.”Outside of the U.S. market, the device will simply be
called Razr. Motorola hopes to rekindle the popularity of its
original Razr, which was the thinnest flip phone on the market
when it debuted in 2004.Motorola also introduced MotoActv, a combined music player,
performance tracker and GPS device aimed at fitness
enthusiasts. This device will start at $249 for an 8 Gigabyte
version. A 16 GB model will cost $299, Motorola said.Motorola uses Google’s Android software to power its
smartphones. The Droid Razr, sporting Corning glass,
will be able to download movies from Netflix Inc and
comes with front-facing and back-facing cameras.The phone, unveiled days after Apple’s iPhone 4S hit
markets, is the latest iteration of a line-up that helped stage
a recovery for Motorola after years of market share losses.Motorola’s Razr was the most successful phone brand in the
company’s history. The height of its popularity was from late
2004 until late 2006, when the device started to lose its
luster amid tough competition and heavy carrier discounts.That led to years of market share losses as Motorola failed
to come up with another hot device to replace Razr, after
having focused on the brand for too long.Motorola started to turn around in late 2009 with the
launch of its first Droid phone sold through Verizon Wireless.
Medvedev wants Russia response to new European energy rules
The European Union is set to introduce new rules, known as
the Third Energy Package, that will impose limits on ownership
of pipeline infrastructure by gas suppliers — rules which are
likely to hit Gazprom’s position in Europe.Last month, the European Commission carried out
raids on the offices of Gazprom’s subsidiaries in Europe in a
wider probe into possible breaches of anti-monopoly laws.”I would like the Energy Minister and the head of Gazprom’s
management board to present their proposals on how we should
build cooperation with our European partners taking into account
realisation of the rules of the so-called Third Energy Package,”
Medvedev said during a meeting of Russia’s Security Council.In February, Prime Minister Vladimir Putin, who is poised to
swap jobs with Medvedev after a presidential election in March,
said the package, that would hand a role to intermediaries in
the gas trade, was tantamount to “confiscation”.”Of course, we would stick to all the existing agreements…
But due to the energy security we have to think about the future
as well,” Medvedev said.Russia has also been at loggerheads with the EU over a
proposed Caspian Sea pipeline designed to carry natural gas to
Europe. Moscow has said the bloc should halt talks on the route,
labelling EU involvement in the project as “meddling”.Medvedev reiterated on Friday that the project — seen as a
rival to the Moscow-designed South Stream gas pipeline — needs
to be approved by all the Caspian Sea littoral states.
UPDATE 1-Mead Johnson raises forecast; shares up
* Sees ‘11 EPS $2.73-$2.78; prior view was $2.70-$2.75* Shares up 2.4 percent in morning tradingOct 13 (Reuters) - Mead Johnson Nutrition Co
reported better-than-expected preliminary quarterly sales on
Thursday and raised its full-year forecast, sending shares up
2.4 percent.Mead Johnson, which makes Enfamil infant formula, cited
strong demand in Asia and Latin America, favorable foreign
exchange rates and a lower tax rate.When the company formally reports its financial results on
Oct. 27, it expects to report third-quarter profit of 76 cents
to 78 cents per share on net sales of $934 million, it said.Analysts on average were expecting a profit of 66 cents per
share on revenue of $925 million, according to Thomson Reuters
I/B/E/S.The company also expects full-year profit of $2.73 to $2.78
per share, up from an earlier forecast of $2.70 to $2.75 per
share. Analysts were expecting $2.76 per share.Mead Johnson, which is hosting a meeting with investors on
Thursday, said sales rose 30 percent in Asia and Latin America,
or 25 percent excluding currency translation. Excluding
currency, sales fell 9 percent in the North America and Europe
segment.Mead Johnson shares were up $1.74, or 2.4 percent, at
$73.60 on the New York Stock Exchange.
