Gadgets, Third Quarter Earnings | featured news

Best Buy Co. reported another dismal quarter on Tuesday, recording a loss in the third quarter, hurt by a continued sales slump and charges related to restructuring. Shares fell more than 11 percent in morning trading to its lowest level in more than a decade.

Samsung sold more than 97 million mobile phones in the third quarter, besting Apple’s (NASDAQ: AAPL) iPhone by more than 74 million units. According to Gartner (NYSE: IT), nearly 428 million mobile phones were sold during the quarter. Approximately 23.5 million of those phones were manufactured by Apple — 97.9 million were made by Samsung.

Investors are sending Apple's stock below $600 for the first time in three months, after the consumer electronics behemoth reported earnings for its latest quarter that missed expectations and warned that profits in the holiday quarter would fall from last year....

In the third quarter of 2011, Samsung was the king of the smartphone world, with one report showing the domination of the manufacturer overtaking Apple's global reign.

Apple Inc stunned Wall Street by reporting results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter.