Hasta La Gadget!

A report commissioned by the World Bank’s infoDev unit has cast fresh light on one of the more fascinating aspects of our brave new interconnected world: the virtual economy. The “third-party gaming services industry” — where wealthy but impatient players have someone else grind away at online games for them in exchange for monetary reward — is one of the focal points of the study, chiefly owing to it having generated revenues in the region of $3 billion in 2009 and now serving as the primary source of income for an estimated 100,000 young folks, primarily in countries like China and Vietnam. What’s encouraging about these findings is that most of the revenue from such transactions ends up in the country where the virtual value is produced, which contrasts starkly with some of the more traditional international markets, such as that for coffee beans, where the study estimates only $5.5 billion of the $70 billion annual market value ever makes it back to the producing country. The research also takes an intriguing look at the emerging phenomenon of microwork, which consists of having unskilled workers doing the web’s version of menial work — checking images, transcribing bits of text, bumping up Facebook Likes (naughty!), etc. — and could also lead to more employment opportunities for people in poorer nations. To get better acquainted with the details, check the links below or click past the break.

Continue reading World Bank report finds selling virtual goods in games more profitable than ‘real’ economy

World Bank report finds selling virtual goods in games more profitable than ‘real’ economy originally appeared on Engadget on Sat, 09 Apr 2011 04:38:00 EDT. Please see our terms for use of feeds.

Permalink BBC  |  infoDev (PDF), Virtual Economy Research Network  | Email this | Comments

Foxconn, the mega-manufacturer behind many popular gadgets, posted a $218.3 million net loss for 2010 yesterday. While the company had previously predicted lower earnings amid suicide-related wage increases and welfare costs, the reported figure is still worse than analysts’ estimation of around $202 million, which also far outweighs the prior year’s $38.6 million profit. Foxconn puts the blame on higher consolidated income tax and increased competition, as well as “cost streamlining actions” — a reference to the ongoing relocation and expansion plans, which are also the outcome of the Chinese suicides — that took longer than expected and led to increased spending along with higher manufacturing overhead. As for 2011, Foxconn said it’ll “take decisive actions to conclude our capacity relocation, optimize our cost structure and return to profitability.” Of course, further losses could accelerate plans to increase prices, which could ultimately put everyone in a lose-lose situation if Foxconn can’t compete. Excerpts from the financial report can be found after the break.

Continue reading Foxconn reports $218 million full-year net loss, worse than analysts’ expectation

Foxconn reports $218 million full-year net loss, worse than analysts’ expectation originally appeared on Engadget on Thu, 31 Mar 2011 07:38:00 EDT. Please see our terms for use of feeds.

Permalink Businessweek  |  Foxconn International Holdings (PDF)  | Email this | Comments

Google promised us the ability to buy stuff while inside Android apps, and sure enough, it’s now just about ready to deliver it. Eric Chu, responsible for the company’s Android Developer Ecosystem, has announced app submissions are now being accepted from those wanting to offer up purchasable items within their software. He also points out there’ll be about a week’s worth of internal testing before the whole system opens up to the public, likely before the end of the month so that Google may stick to its word of rolling out the service in the first quarter of this year. Once that’s done, you’ll finally be able to buy your way to in-game glory instead of having to grind away at it like some unenlightened schmo.

Android in-app billing coming next week, starts developer testing today originally appeared on Engadget on Fri, 25 Mar 2011 06:53:00 EDT. Please see our terms for use of feeds.

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Setteb.it’s worldwide iPad pricing chart shows just how good the U.S has it

Italian blog Setteb.it has posted up its now traditional chart of international iDevice prices. This one, of course, shows the cost of the iPad 2 around the world when it launches in 25 countries this Friday. Of those 25 countries, 18 so far have official pricing.

For you iPad-loving nerds over in the U.S, the tablet is an easy sell to your friends and family. “Sure, it starts at $500″ you can tell them. Elsewhere, it gets a little trickier. I would have to tell my mother and father that the 16GB Wi-Fi iPad costs £399, or $650. That’s double what they paid for their crappy PC.

Setteb.it’s Fabio Zambelli has put together the chart, showing all six iPad models (no stupid U.S-only, single-carrier Verizon model here). For each country, he has added local taxes and converted the result to Euros. To make the comparison fair, he has also 9.2% sales tax for the U.S prices, something which is conveniently left out of Apple’s pricing.

The most expensive iPad is in Norway, topping out at €823 or $1,168 for the 64GB 3G model. The cheapest is in Australia, with the 16GB Wi-Fi model coming in at “just” €409, or $580. This compares to the real U.S price of €390, or $545.

Will I be queueing up at my local Barcelona Apple Store this Friday at 5PM? If I were to replace my 64GB 3G iPad with the equivalent model, I would pay €799, or $1,134. That’s a $214 premium. I think I might stay at home.

I prezzi internazionali dell’iPad 2, in Oceania costa meno [Setteb.it. Thanks, Fabio!]

See Also:

• Apple's iPad 2 Likely Sold Out in First Weekend
• iPad 2 International Launch Still On Schedule, 5PM This Friday …

Continue reading LookTel’s Money Reader iOS app helps the visually impaired count money

LookTel’s Money Reader iOS app helps the visually impaired count money originally appeared on Engadget on Wed, 09 Mar 2011 19:23:00 EDT. Please see our terms for use of feeds.

Permalink   |  LookTel, iTunes Preview  | Email this | Comments