Money -- Engadget

money posts

PS3 Slim hardware still losing money

by Thomas Ricker posted Aug 25th 2009 at 5:23AM

The Times Online had a sit-down with Sony Computer Entertainment boss, Kaz Hirai, after the big Gamescom show last week in Cologne. You remember, the event that saw the official launch of the PS3 Slim. The Q&A is an interesting read in whole, but the answer that stands out comes in response to a question about whether the lower-priced $299 PS3 Slim will be sold at a loss relative to its cost to manufacture. "Yes," was the quick answer from Kaz. That's a surprise for two reasons. First, the PS3 Slim benefits from more efficient 45-nm manufacturing processes used on its smaller, less power-hungry Cell processor. Also, just last month Sony's CFO told investors that manufacturing costs of the PS3 had dropped by "about 70%, roughly speaking" -- that comes to about $240 based on original manufacturing estimates of $800 when the PS3 launched back in 2006. Regardless, a console being sold as a loss-leader is nothing new in the gaming industry and, as Kaz points out, will almost certainly be offset by looking at the PS3 as a platform that includes the hardware, software, peripherals, and services.

[Via GamesIndustry.biz]

Dell fined $30,000 by Taiwan government over pricing mishaps

by Darren Murph posted Jul 30th 2009 at 2:15AM

Let this be a lesson for all you kids thinking about opening some online shop with a funky database: pricing errors can cost ya, especially if you're doing business in Taiwan. After a couple of downright embarrassing slip-ups on Dell's Taiwanese web store, followed by a failure to compensate those who got orders in appropriately, Taiwan's government has levied a NT$1,000,000 fine (that's just over 30 grand in Greenbacks) on the computer giant. The actual details of the penalty are somewhat vague, but it seems as if the fine will be imposed until Dell decides to "take consumer rights seriously." In other words, Dell's stuck paying up unless it flips a 180 real quick and honors the flood of purchases made at rock-bottom prices. C'mon Dell, do the right thing. Or write the check -- evidently it's totally your call.

[Via Engadget Chinese, image courtesy of AdRants]

Hitachi develops biometric payment system, uses it to sell junk food

by Joseph L. Flatley posted Jul 22nd 2009 at 1:13PM

Looks like Hitachi has made some serious headway on the biometric payment system we first heard about way back in the halcyon days of 2007. According to the Mainichi Daily News, the company is currently testing its Finger Vein Authentication System internally, with the device serving as a method of payment for vending machines and the like. Once it's proven that employees are able to get their Koala's March and Hi-Chew without incident, the plan is to up the ante, with high precision ID systems that combine finger vein and finger print authentication systems for military use.

Digital TV subsidy program nearly dry: get your vouchers now

by Darren Murph posted Jan 5th 2009 at 2:15PM

When the FCC's Kevin Martin asserted that the 2009 digital TV transition subsidy program was nearing the end of its financial rope back in October, no one really paid him any mind. After all, this ain't the FCC's gig. Now, however, an AP report on the topic is confirming the fears, noting that the NTIA itself is "warning that unless lawmakers step in quickly with more funding or new accounting rules, it will have to create a waiting list for coupon requests." Should this occur, new vouchers would only be sent out once previously mailed vouchers expired without being used. As of now, only $68.2 million of the $1.34 billion set aside for this program remains free, and after February 17th comes and goes, you can bet the interest will skyrocket. Moral of the story? Get your request in now if you're in need (check here to see if you are).

[Via ShellyPalmerMedia]

Update: The well is dry! Yikes!

Japan installs cellphone jammers near ATMs to prevent fraud

by Darren Murph posted Dec 10th 2008 at 7:53PM

If you're tired of being scammed at ATMs by kind, gentle-hearted con artists (and then forgetting it ever happened), you'll be stoked to know that Japan is looking out for you. Chiba Bank has installed phone signal jammers at four unnamed ATMs at bank branches in the Tokyo region, and while it has gone down as the first institution to go to such lengths, we highly doubt it'll be the last. It's not entirely clear what exactly the criminals were able to convince people to do via mobile, but it's probably something like "psst... get me out some cheddar and meet around back." Not that we have any experience in the field or anything...

[Via textually]

Analyst says Palm burning through cash like it's going out of style

by Chris Ziegler posted Nov 5th 2008 at 7:18PM

Stock downgrades are nothing new for the boys and girls at Palm, but analyst Tavis McCourt of Morgan Keegan (which certainly sounds like an important and all-knowing firm) has painted a particularly bleak picture of the company's books today -- so grim, in fact, that it set off a 20 percent drop in the company's market cap. Apparently the big concern is Palm's cash burn rate, which has left a cash reserve of just under a quarter billion dollars through a series of delays and setbacks that have been partially offset by moderate successes like the Centro. McCourt figures that'll be down to a mere $75 million by the time Palm OS 2 launches, and that's assuming they don't run into any more slips in the schedule. He notes that Bono can always just flip 'em a few more mil out of his Joshua Tree earnings, but it'll end up diluting existing shareholders' stakes, hence the massive drop in value today. No pressure, Palm.

Visa gunning for your phone, announces Nokia and Android plans

by Chris Ziegler posted Sep 26th 2008 at 5:00AM

Neither mobile banking apps nor mobile payment technologies are anything new, but the depth of Visa's newfound commitment to anything and everything mobile here is pretty unique. The company has announced a slew of initiatives to make it as frighteningly easy as possible for cardholders to do cool things with their accounts right from their phones starting with the launch of the Nokia 6212 Classic next month, which will serve up NFC-based contactless payments, cardholder-to-cardholder transfers, and realtime account alerts (subject to issuing bank availability). Meanwhile, they've wasted no time jumping on the Android bandwagon, revealing that they've hooked up with Chase to offer an Android app that delivers notifications, merchant "offers," and a location-based search of nearby retailers that accept Visa cards (which is pretty much all of them in our experience). If the Chase trial pans out, Visa plans to shop the Android app around to other issuing banks. Finally, there's also a new web-based mobile money transfer pilot going down that's scheduled to kick off around the end of the year involving several banks and "as many as" 6,000 cardholders; what are the odds that those 6,000 are going to be transferring much money among each other, though?

[Via CNET]

Read - Nokia partnership
Read - Android plans
Read - Mobile money transfer

Blinger portable ATM isn't at all relevant, handy

by Darren Murph posted Feb 1st 2008 at 11:32AM

Every so often, a gizmo crosses our path that truly makes us question the thought process of its creator(s). This particular Friday, that gizmo is the Blinger. This so-called "portable ATM" apparently enables users to whip out an oversized, one-trick-pony of a device and instantly send cash for wares, check your current level of fundage, calculate currency conversions and wonder why on earth they haven't invented this thing called "online banking." Oh, wait.

[Via InventorSpot]

Sony, NXP get official with Moversa joint venture

by Darren Murph posted Nov 14th 2007 at 3:49PM

Chances are, you had forgotten all about Sony and NXP's little initiative to cooperate on a NFC (near-field communications) standard, but the two seem to have finally worked out all the kinks and are ready to move forward. The joint venture, dubbed Moversa, will seek to "drive global adoption of contactless smart card applications in mobile phones," and it's already planning to develop, produce and market a Universal Secure Access Module (U-SAM) that "incorporates both MIFARE and FeliCa operating systems and applications." Essentially, the duo is hoping to accelerate the adoption of integrated contactless support, which would enable users to make payments (among other things) easily via their handset. If you're curious about availability, we're hearing that samples should be shipped out in mid-2008, but commercial deployments aren't scheduled to happen until the end of next year.

[Via Yahoo / Reuters]

Western Union hopes to enable mobile money transfers, scammers rejoice

by Darren Murph posted Oct 19th 2007 at 6:34AM

Just when you thought those Nigerian scammers were simply running out of avenues to coerce you into cashing some counterfeit check for $4.98 billion, along comes this. Western Union is apparently buddying up with 35 or so cellphone operators to "develop a system that would allow consumers to transfer money from country to country via their mobile phones." Reportedly, the outfit has successfully tested the service in a number of US cities, and if everything goes as planned, it could launch in Q2 of 2008. Notably, it still sounds like an actual human will be a part of the process, as the system will purportedly "connect the user to a company operator to complete the transaction." Quite frankly, we appreciate the convenience of such a service, but don't you go falling for any sappy stories of long-lost cousins needing your help to funnel in millions as you ride to work, alright?

SK Telecom handing over $270 million (more) to Helio

by Darren Murph posted Sep 21st 2007 at 3:31PM

As if receiving $200 million from SK Telecom and EarthLink back in July wasn't enough, Helio is now set to accept (up to) a $270 million check from SK Telecom. According to EarthLink, SK Telecom will "invest up to $270 million in Helio," and as expected, EarthLink was "very pleased" with the decision -- you know, considering that it won't be forced to cough up any more dough at the moment while still maintaining "substantial ownership interest in Helio's future." Most interesting, however, is the tidbit that mentions the parents' plans, as EarthLink and SK Telecom are reportedly "in discussions to amend their existing agreements to reflect the additional investment by SK Telecom and their future governance of Helio." Gotta pay to play, we suppose.

Hacking a CoinStar machine to bypass transaction fees

by Darren Murph posted Aug 7th 2007 at 4:41AM

We've seen a number of somewhat innocent (and equally wily) hacks that save the little man a dime or two, but never quite so literally as this one. CoinStar machines -- best known for charging a whopping nine percent or so for the convenience of counting our coins for us -- have apparently been outsmarted, making the green machine convert your coins to dollars gratis (without going through the process of getting a gift card). Hit the read link to find out more.

[Thanks, Joe]

Update: Upon reflection, we probably shouldn't go into the gory details of how its done -- but it's nothing so mind-blowing (except for its potential illegality -- you wouldn't tamper with an ATM, would you? This ain't much different.). Or you can, you know, do the right thing and just take an Amazon gift cert and not have to live a look-over-your-shoulder kind of lifestyle.

Hitachi, JCB developing biometric payment system

by Darren Murph posted Jul 24th 2007 at 8:46AM

Considering all the companies that have already (or almost) jumped on the cashless bandwagon, it follows logic that another duo of Japanese firms are bringing their own biometric payment system to the forefront. Reportedly, Hitachi and JCB Co. Ltd. are working hand in hand (ahem) to develop a system that would "identify the veins on a person's finger" in order to sync with their credit card or bank data and complete a purchase. As expected, the companies are pushing their creation as a safer and more reliable method of paying for items, and while there's no telling how quickly customers are apt to implement said technology, Hitachi has reportedly stated that it would "launch an experiment in September involving 200 of its employees to see if it is commercially viable to introduce the system in shops, banks and other businesses."

Envelope-free ATMs popping up soon

by Darren Murph posted Jul 19th 2007 at 9:16AM

With all the chicanery that's been going on with ATMs of late, it looks like the machines are finally getting back at the humans. In a move that's already confusing creatures of habit, envelope-free ATMs are starting to pop up in highly-trafficked areas, and as the name implies, they require that your deposits not be stuffed into an envelope beforehand. Diebold, NCR, and, Wincor Nixdorf (among others) are beginning to roll out these newfangled machines, which cost some 20-percent more than typical ATMs and sport specialized scanners that can detect how much cash you're actually inserting as you slide your check / bills into its theoretical mouth. The biggest boon here is the drop in processing costs to banks, while customers are likely to be pleased with instant receipts and nearly-instant access to the fundage. 'Course, we're just counting down the days until yet another ATM trickster figures out how to convert a Hershey's wrapper into a $20 bill.

[Image courtesy of ABC]

Xerox innovation can add anti-counterfeit measures to digital printers

by Darren Murph posted Jun 1st 2007 at 5:07PM

Xerox, the same outfit looking to extract information from your web browsing excursions, has now churned out a swank anti-counterfeiting procedure that purportedly allows a vanilla digital printer to "create personalized fluorescent marks on documents." Of course, these fluorescent signatures are commonly used to authenticate currency, and Xerox is hoping that people warm up to the idea of slapping the same level of security onto documents ranging from licenses, certificates, or even personal checks. The method utilizes the "dry ink" found in xerographic printers to create the secure imprint, and curious users can spot the tell-tale sign when exposing the document to ultraviolet light. Of course, you should still be wary of that dubious looking bizhub crammed over in the corner office, but if you're interested in Xerox's latest counterfeit squashing technology, you can snag it as part of the FreeFlow Variable Information Suite 5.0 software.

[Via Gizmag]