Mad Catz In Trouble After Shares Plummet And CEO Resigns

Mad Catz is best known for creating various peripherals including keyboards, mice, headsets and more while adopting a very distinctive style. This gives their product range a unique aesthetic, and makes anything they produce instantly recognizable. Whether many of these complicated constructions are as comfortable as more simplistic solutions is topic up for discussion. Not only that, creating any mass market product involves a great deal of research and development. Furthermore, competition within the peripherals market is fierce with Corsair, Roccat, Logitech, Mionix, Cooler Master and more all vying for people’s hard earner cash. As a result, the financial situation at the company looks very bleak and their share value has fallen by more than 25% today!

On another note, Mad Catz announced some sweeping changes to the management team. Firstly, the company’s president and CEO, Darren Richardson resigned his position with immediate effect. In a similar fashion, the chair of the board of directors and member of the board’s audit committee, Thomas Brown resigned on Friday. That’s not the end though as Mad Catz’s senior vice president of business affairs, general counsel and corporate secretary, Whitney Peterson also handed in her resignation. The timing for the CEO’s resignation is quite worrying and comes just one day before Mad Catz’s financial reports are published. The company released a statement describing these changes which reads:

“We recognize the tremendous value that Thomas, Darren, and Whitney have brought to Mad Catz during their tenure and thank them for their many contributions throughout the years,”

“Looking ahead, we are confident that we have a talented leadership team in place that will enable us to steer the company on a steady course in its operations and financial performance as we look to grow our business and reward our shareholders.”

Clearly, the company’s financial standing is in disarray and I’m expecting the results to tomorrow to be alarming. Only time will tell if Mad Catz struggles to remain in business, but the picture so far doesn’t look very promising.

Have you had a positive experience with Mad Catz hardware?

Xbox 360 Lawsuit Judge Owned Stock in Microsoft

A class action lawsuit launched by Xbox 360 owners who suffered ruined discs due to a fault within the console is moving to the US Supreme Court, which prompted the presiding Chief Justice John Roberts to sell between $250,000 and $500,000 in Microsoft stock, rather than excuse himself from the case over a conflict of interest, the Associated Press reports.

Since it is a violation of Federal law for a judge to preside over a case involving a company he or she own shares in – and, so, is given the option to sell their shares or excuse themselves from the case – the matter has encouraged debate over whether judges should be allowed to own shares in major companies to start with, or be allowed to sell their shares in order to remain a case.

“We’re not talking about grandpa’s stock in the family business where a justice might have some sentimental reason for holding onto the shares. These are major corporations who regularly come before the court,” Arthur Hellman, a specialist in judicial ethics at the University of Pittsburgh, told the AP.

Last October, Chief Justice Roberts presided over an appeal against Texas Instruments, which was being asked to contribute funds to clean up hazardous waste it was accused of being responsible for. Roberts, who denied the appeal, was involved despite owning between $100,001 and $250,000 shares in Texas Instruments. Kathy Arberg, a court spokesperson, admitted that Roberts’ involvement was a mistake.

Australian Securities Market to Begin Trading Bitcoin Shares

The Australian Securities Market (ASX) is preparing to debut the Bitcoin Group on the public market under the symbol BCG. This is seen as a potentially billion dollar opportunity by Bitcoin Group, with at least $20 million expected to be gained from the initial sale of 100 million shares at $0.20 each on February 9th.

The Melbourne-based bitcoin mining company currently operates around 6000 “mining” rigs worldwide, split across 12 mining centres. Less than 2% of the companies mining power is concentrated in Australia, with the majority of the power coming from their 5 Chinese mining centres. The majority of the funds raised by the sale of shares is planned to be put directly into increasing the firm’s hashing power.

The CEO of Bitcoin Group, Sam Lee hopes that the floating of his firm on the Securities Market will help to increase the acceptance of the Bitcoin cryptocurrency worldwide and to increase the number of investors in the technology. “It’s about giving ourselves and the industry accountability and legitimacy; people often doubt whether our industry is ‘real’ as bitcoin has been declared dead many times over,” Lee said. “Unlike private companies, however, listed companies have a higher level of compliance; audited numbers will assist us in educating people interested in our industry with facts, not fiction.” He believes that when backed with legitimacy, Bitcoin’s ability to be converted to any worldwide currency and reusability will solidify the crypto-currency as a legitimate monetary platform.

Bitcoin’s emerging acceptance of Bitcoin is only the start of worldwide acceptance of the technology, with some US financial commissions taking the digital currency under their jurisdiction. Additionally, the US Securities Exchange Commission will be allowing companies to issue shares using the blockchain technology, similarly to ASX selling shares of BCG. ASX itself is also reported to be looking to convert their current settlement and clearing system to Bitcoin blockchain technology, with the switchover expected to be complete before the end of the year.

Twitter Considers 10,000 Character Limit – Shares Plummet

New Twitter CEO Jack Dorsey is considering dropping the site’s unique selling point, the 140-character limit for Tweets, in favour of up to 10,000 characters, according to a report by Re/code. Since the rumour broke, the price of shares in Twitter Inc. have dropped by 0.65 points (-2.86%) after normal trading hours.

“Twitter is building a new feature that will allow users to tweet things longer than the traditional 140-character limit,” Re/code’s Kurt Wagner claims, “and the company is targeting a launch date toward the end of Q1, according to multiple sources familiar with the company’s plans. Twitter is currently considering a 10,000 character limit, according to these sources. That’s the same character limit the company uses for its Direct Messages product, so it isn’t a complete surprise.”

“There is no official launch date set in stone, these sources say,” Wagner added. “It’s also possible the character limit could fluctuate before it rolls out the final product, which people inside Twitter refer to as “Beyond 140.””

Twitter is aware that a greater character limit could leave the site open to exploitation and is working on a way to prevent spamming.

While boasting over 200 million accounts, Twitter has been haemorrhaging users for the past few years, and new Chief Executive Dorsey hopes that new innovations with the microblogging site can turn the company’s fortunes around.

Apple’s Stock Drops by Over $160 Billion

The smartphone market is expected to stagnate as sales grow at a slower pace in major western territories. Of course, there are exceptions to the rule such as India where the introduction of affordable handsets increases the ownership rate by a significant margin. However, it can be argued that smartphone users are less likely to upgrade considering the capabilities of their current handsets. According to data acquired by USA Today, Apple’s stock value dropped by over $160 billion and showcases the challenges in the smartphone market. Here we can see the effects of this downturn and some critics have argued this trend will continue in the near future:

Apple could become a victim of its own success, as it’s extraordinarily difficult to keep increasing sales figures while being at the top. It’s plausible for a downturn to occur as consumers become content with the current offerings or simply look for alternatives. In an era where there’s powerful yet affordable smartphones out there, it’s possible that the iPhone’s price might alienate a section of the market. On the other hand, Apple’s recent iPhone launch set new sales records and did remarkably well. Currently, the smartphone decline appears to be a result of the Chinese market not posting the kind of sales figures many companies hoped for.

Zuckerberg and Chan Giving 99% of Their Facebook Shares to Charity

Mark Zuckerberg is not one to shy away from the public spotlight with his charitable activities. Facebook is part group providing refugee camps with internet and recently joined with another billionaire, Bill Gates, to help fund renewable energy. Today though he has shocked the world with two major announcements.

The first announcement was the birth of Zuckerberg’s daughter, Max, to wife Priscilla Chan. Alongside this announcement came one that has surprised many, the creation of the Chan Zuckerberg Initiative. This will be done by their latest pledge to give away 99 percent of their Facebook shared to charity throughout their lives.

At this moment in time, that 99% is valued at a staggering $45 billion, one of the highest charitable donations in history, obviously! The announcement was made in a note to their daughter on Facebook. Working to promote the values of equal value and “pushing the boundaries on how great a human life can be”, the note continues to state that they love Max and “feel a great responsibility to leave the world a better place for you and all children”.

We’ve seen how Facebook can be used to reunite families, and even lost pets, now we could see it take a step to making the entire world a better place.

Congratulations Mark and Chan and thank you.

Nintendo Delays Launch of Smartphone Games – Stock Price Plummets

 

Have you been waiting for the much-loved Nintendo games to hit your mobile phone? Sorry to inform you but today Nintendo have announced that they have pushed back the much-anticipated launch of game service for smartphones to March 2016. Japan’s Wall Streets Journal Reporter Mayumi Negishi blogged on this disappointing news for both gamers and investors and it sure does show when you look at Nintendo’s shares, which fell down by more than 10 percent!

Nintendo’s entering the mobile game market was a new strategy announced by its previous chief executive who died of cancer earlier this year. Nintendo had previously stated it would introduce its first smartphone games by the end of 2015. So this means it was prime time to buy up shares as investors had hoped that would include it’s best-selling Mario video game franchise in the first line-up. Nintendo’s current Chief Executive Tatsumi Kimishima said the delay would help Nintendo concentrate on selling its existing consoles and game software during the year-end holiday season.

“The year-end is traditionally our peak season for sales,” told a packed news conference, when asked about the delay. “This way, we’d be able to introduce our new applications after the holiday season is over.”

Tatsumi Kimishima did not comment on whether Mario would come to smartphones, instead he focused on promoting the new social networking style game called “Miitomo” which will now be available in March. The news knocked Nintendo’s shares down by as much as 10 percent in morning trade this morning as DeNA Co, Nintendo’s mobile gaming partner fell as much as a staggering 19 percent.

This drop is a mighty shame for Nintendo as shares this year surged by more than 80 percent, aided by the success of the Wii U alongside the hype that the company would be entering the smartphone game market. What are your thoughts on the subject? Let us know in the comments.

Even Yahoo Turns to Google as Revenue Falls

AMD, IBM and now Yahoo. It seems we currently live in an age where large organisations rather thrive or sink, and sink fast at that, hitting the ground as they fall. According to Sky News Yahoo has announced a deal with rival Google in a surprising turn to work together on advertising and internet search after its latest financial results disappointed.

Chief executive Marissa Meyer has pledged to cut costs further and focus on a new strategy for growth. Marissa went on to state the following
“We see a unique moment and opportunity for Yahoo as we move into 2016 to narrow our strategy and focus on fewer products with higher quality to achieve better growth and better results.”

The third quarter figures, which showed another three months of declining revenues, prompted a 2% fall in its share price in after-hours trading. Yahoo revealed an 8% decline in sales on the same period a year ago whilst in the last week Yahoo just like IBM and AMD  has been hit hard with a significant drop in shares.

In an unexpected and risky move, Yahoo plans to grow revenues by sending some traffic to the Google’s search engine while prudently still using Microsoft Bing. I’ve got to admit other than going on Yahoo to look at the odd news article, I haven’t used it much at all these last ten years, whilst google continues to grow stronger.

Personally I’m even in the process of filtering out my yahoo email account in favor for Gmail. Do you even Yahoo Bro? Let us know in the comments.

IBM Sinking at a Staggering Rate as Customers Transition to the Cloud

IBM are losing shares rapidly as customers transition to cloud computing, it seems the only escape may be a process called “Mergers and Acquisitions”  FBR Capital Markets Daniel Ives said the following:

“It really comes down to M&A. If they went big on big data, cyber security, cloud that’s the only — in our opinion — solution to put fuel in the tank for growth. It’s not going to happen organically,” FBR’s senior analyst told CNBC’s “Squawk Box.”

IBM shares fell more than 5 percent since after-hours trading on Monday and continues to decline! IBM has now had to lower its full-year profit forecast and it seems IBM is going to need to re-think its business plan in a dramatic restructure to be in with a chance of salvaging some value back. IBM is having to shift from making hardware to cloud computing with their main aim is to be established in internet-based software and services sales to compete with companies such as Salesforce.com and Amazon.com’s web software units.

According to Daniel Ives, IBM should consider picking up big data firms like Splunk and Tableau, cybersecurity outfits like Fortinet and CyberArk, and enterprise software companies like Workday and NetSuite. Daniel Ives followed with:

“Big cap tech is in a horse and buggy in the right lane and all these companies are passing them in the Maseratis and Ferraris in the left lane,”

He then made the example regarding Dell’s announced takeover last week of EMC, saying EMC CEO Joseph M. Tucci would not have had to sell had he made acquisitions sooner. Daniel continued on and said the legacy tech companies have become accustomed to blaming their results on currency headwinds, but in the end, earnings come down to core execution and mature products offerings.

IBM’s shares have been declining quite rapidly since April 2013 but nothing in comparison to this scale, despite what IBM is doing to counteract this it clearly has had little effect. Whatever has gone wrong at IBM has gone drastically wrong and IBM needs to be sharp on their toes with a solution before it’s too late.

This is pretty drastic news for the 104-year-old tech giant, one of the first computers I ever used was made by IBM. what are your thoughts on the subject? let us know in the comments below.

AMD Reports 2015 Third Quarter Results

We recently brought you some amazing news regarding Fujitsu buying 85% of AMD’s shares. This not only means that AMD has money again, but the company’s shares are now less fragmented; is it too little too late as AMD reports 2015 Third Quarter financial Results?

The future still looks bleak as AMD has reported a quarterly loss of $197 million. It’s no secret on how many significant changes AMD has made to the organisation in efforts to reduce costs and increase profits. Despite these changes, that’s an increase loss from last quarter’s $181 million. Whilst AMD is continuing to lose market share to Intel and Nvidia, when you look closer and start to reflect on AMD’s shares over the last five years, it really starts to tell the story of AMD’s ongoing struggles:

Maybe we shouldn’t write AMD off yet because alongside Fujitsu’s major investment the Embedded, and Semi-Custom part of the organisation has increased 13% over last quarter. Operating income for this segment came in at $84 million, up from $27 million in Q2

AMD is doing more corporate restructuring in an attempt to reduce expenses further. Perhaps the most troubling aspect of the results is whilst they are attempting to provide the best value for money their gross margin is only 23%, something has to give eventually.

What’s your thoughts on this subject? Will Fujitsu’s major investment provide AMD with the much-needed injection to fix things, or is it money down the creek? Let us know in the comments below.

Microsoft’s AMD Buyout Unlikely as Stock Drops 7%

Shares in chip maker AMD have dropped by 15 cents (7%) to $1.86, marking a huge decline following its 9% gain in the wake of rumours of a buyout by Microsoft. The sudden fall in stock prices in conjunction with the buyout rumours makes any potential purchase by Microsoft unlikely, with Citigroup analyst Chris Danely saying, “we seriously doubt it.”

On Friday, Fuad Abazovic of Fudzilla cited anonymous “industry sources” attesting that “Microsoft is seriously talking to AMD about buying the chipmaker,” apparently motivated by a desire to gain full control over the microprocessor that powers its Xbox One console.

Danely, however, points to a number of hurdles that make a Microsoft purchase of AMD unfeasible. “Microsoft collaborates heavily with Intel in OS development and PC platform standards (bios, firmware, drivers, etc.),” Danely said. “Also, AMD’s core microprocessor business (roughly 30% of sales) continues to lose share and money. We note any company that acquires AMD will need to renegotiate the x86 cross-licensing agreement with Intel – a cumbersome process, in our view.”

He caveats that, though, by saying that Microsoft could conceivably gain control over parts of AMD, such as the semi-custom business that builds the Xbox chips.  “We could envision a scenario in which Microsoft acquires AMD’s semi-custom processor businesses (roughly 37% of 2Q15 sales) although we believe it is unlikely AMD would sell its semi-custom business given it’s the only major business that is profitable for them.”

“Microsoft already utilizes AMD’s semi-custom processor in its XBOX One console, and the semi-custom business is AMD’s most profitable product line with mid-teens operating margins,” Donely added. “The biggest complication here would be a potential conflict of interest as AMD also provides semi-custom silicon into the competing Sony Playstation 4 console”

“Microsoft could also be interested in acquiring AMD’s graphics business (roughly 12% of 2Q15 sales). Although AMD’s GPU unit share has declined almost 50% over the last 5 years from 51.1% 2Q10 in to just 26.9% in 2Q15, we believe the former ATI graphics division still has valuable IP as it relates to Microsoft’s efforts in PC gaming and virtual reality. Microsoft recently announced its own virtual reality headset, HoloLens.”

Thank you Barron’s for providing us with this information.

Image courtesy of TechWeek Europe.

Apple Has $202 Billion in Cash – Shares Dip 10%

Apple has earned $202 billion in cash alone – more than any other company – but the tech giant has taken a huge hit on Wall Street. Despite crossing the $200 billion in cash mark for the first time, shares in Apple dipped by as much as 10% this week following a worse-than-expected projection for the latest quarter of 2015. A mixed period has seen iPhone sales down, while growth in China has doubled, and Apple Watch sales are as-of-yet undisclosed.

Apple’s cash haul compares favourably to its closest market rival; Google – producer of the Android mobile operating system – earned $62 billion in cash and marketable securities during the last quarter. Apple’s $202 billion in cash, though, carries some risks. Two Apple shareholders in particular – Carl Icahn and David Einhorn – have been pushing the company to reduce its cash hoard, wanting it to convert it instead into assets. The US taxman is also side-eying Apple’s piggybank, since $158 billion of it is banked overseas, and so out of its jurisdiction.

Despite the promising news of Apple’s growth in China, the country has been hit recently by a financial crisis, with fears that its stock market crash could have a knock-on effect on the company’s trading there. “We remain extremely bullish on China, and we continue to invest. Nothing that has happened has changed our fundamental view that China will be Apple’s largest market at some point in the future,” Apple CEO Tim Cook said. “We are not changing anything. We have our pedal to the metal.”

Thank you Mashable for providing us with this information.

Intel Agrees $16.7 Billion Purchase of Altera Corp

Chip giant Intel has agreed a deal to buy PLD (programmable logic device) manufacturer Altera for $16.7 billion, consolidating the company’s presence in data centres. Intel will pay $54 a share, all-cash, for Altera at a premium of 11% over its closing share price on Friday.

The Intel/Altera merger comes in the wake of rising manufacturing costs, with Intel intent on making its profitable semiconductor business – worth $300 billion globally – yield even greater returns. The purchase follows last week’s record-breaking deal that saw Avago Technologies buy Broadcom Corp. for $37 billion. The two deals now make 2015 a phenomenal year for the semiconductor market.

“Management teams are looking at their business and predicting little growth going forward,” Gus Richard, an analyst at Northland Securities Inc., said. “The M&A wave is a function of them trying to drive earning growth. Intel’s purchase of Altera is one of the few strategic moves that is being made currently.”

“The acquisition will couple Intel’s leading-edge products and manufacturing process with Altera’s leading field-programmable gate array (FPGA) technology,” an Intel statement reads. “The combination is expected to enable new classes of products that meet customer needs in the data center and Internet of Things market segments.”

Following the announcement, stock in Altera rose by 6.2% to $51.86 a share, while Intel fell by 1.3% to $34.

Thank you Bloomberg for providing us with this information.

Image courtesy of 3DPrint.

Microsoft Stop Talks to buy Salesforce

Anyone keeping an eagle eye on the stock exchange in recent weeks would have noticed a spike in the share prices of Salesforce.com. This stemmed from reports from Bloomberg that an unspecified company was in talks to buy the company. Earlier this month a similar event happened, but this was caused by the interest shown from global giant Microsoft.

Earlier this month a similar event happened, but this was caused by the interest shown from global giant Microsoft. It has been confirmed that talks have taken place; taken place and ended with no further confirmation of a purchase going ahead.

According to multiple people familiar with the situation, Microsoft was prepared to offer around $55 billion (~£35.5 billion) for the cloud company. The Salesforce CEO Marc Benioff aimed to push the asking price higher; as high as $70 billion. Microsoft CEO Satya Nadella was hesitant to seal the deal with such a high asking price that will affect Microsoft in such a massive way.

$55 billion is a huge amount if this went through; it would have been the largest acquisition the company has ever made by a large margin. Largest purchase to date was Skype in 2011 for $8.5 billion, Nokia second at $7.2 billion and third would be Quantive for $6.3 billion back in 2007.

What do you think would have happened to Microsoft if the deal did take place? For better or for worse? Let us know in the comments.

Thank you to ArsTechnica for providing us with this information.

Fox Scraps Time Warner Purchase Plans

We all know of 20th Century Fox right? The famous intro with the spotlights and big 3D text, you know the one. Anyway, Fox recently wanted to purchase Time Warner but it seems now they have changed there mind and damaged Time Warner in the process. The decision to back out of the deal was made by Fox on Tuesday and since the announcement, share prices for Time Warner have dropped by 11%, oh dear indeed.

The whole thing came around in June earlier this year when Fox offered a higher price per share then the current bidder at the time. The current bid was $85 per share and Fox said that they wouldn’t pay more than $90 $95 per share, meaning they would willingly go higher than $85. The news of Fox offering a deal sent the Time Warner shares up above the current $85 value, which was good until Fox backed out. Fox did offer a $6 billion share buyback program to calm the disappointed shareholders down, which was a nice thought but pretty irrelevant now. Since Fox have made offers to Time Warner, offered a $6 billion buy back program and backed out of the deal completely, their shares have actually risen in value by 7%. Makes you wonder, was this all a plan by Fox to get an edge over Time Warner in the stock market or just an unfortunate result of a scrapped deal?

Thanks to Tweaktown for supplying us with this information.

Image courtesy of Tweaktown.

Facebook Will Buy WhatsApp For $16 Billion In Cash and Shares

Recent news point to Facebook engaging into an agreement to purchase the popular mobile messaging app, WhatsApp, for $16 billion in cash and stocks. The Verge states that a SEC document filed recently confirms the purchase agreement.

The same plan of action was filed with the pruchase of Instagram as well, that being the ability of WhatsApp operating as an independent messaging application and not integrated into Facebook’s Messenger, stating that the purchase will accelerate Facebook’s aim to bring socializing and connectivity all around the world.

“WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable.” said Facebook CEO, Mark Zuckerberg. “WhatsApp will complement our existing chat and messaging services to provide new tools for our community.” he added.

Statistics report showing around 450 million people accessing the WhatsApp application each month, having 70 percent of the total amount of users active each day. The changes will also bring WhatsApp’s CEO Jan Koum to Facebook’s board of directors. Koum also assured users that the deal will not affect the app’s usability by adding advertising principles, as “there would have been no partnership between our two companies if we had to compromise on the core principles that will always define our company, our vision and our product”.

Thank you The Verge for providing us with this information

Facebook and Zuckerberg To Sell 70 Million More Shares

On Monday Facebook will officially be a member of  the Standard & Poor’s 500-stick index. Facebook and Zuckerberg will be offering 70 millions share to the public to commemorate this momentous occasion. With the 70 million shares up for grabs, based on their current stock price of $55.50 per share, the offering would raise close to $3.8 billion. However the shares will likely be slightly lower than $55.50 when released to reflect the dilution in regards to this offering.

Facebook as a company will offer over 27 million Class A shares, which would be used for working capital. Facebook said it has no plans for the extra capital, however many have said that the offering could be used to bolster Facebook’s pursuit to fund future deals. This seems likely as Facebook is an aggressive acquirer of smaller rivals having all ready purchased Instagram and just recently having an offer to buy Snapchat for $3 billion turned down.

Mark Zuckerberg will also exercise stock control to purchase 60 million Class B shares (which are used to hold majority voting rights), he will then sell 41.35 million of those Class B shares as Class A shares using the majority of the profits to pay taxes connected to the exercise of his options. With Zuckerberg giving some up of his Class B shares he will still control more than 60 percent of the voting rights. As well as these offerings a filing has also stated that Zuckerberg will also make a charity donation of 18 million shares (roughly $1 billion) to the Silicon Valley Community Foundation, a nonprofit organization that he has supported previously before in the past. What do you think of this news? Will you be snapping up some shares when they become available?

Thank you The New York Times for providing us with this information.

Image courtesy of The Hindu.

Android Jelly Bean To Go Past 50% Share

In recent Android news, it seems like the Android 4.x Jelly Bean takes up half of the android share with over 50% of devices running on the Operating System on devices such as smartphones, tablets, phablets, etc.

As shown above, the 4.3 Jelly Bean is marked at 2.3% while growing in number each day, the 4.2.x Jelly Bean comes right after with 12.5% of android users running it and still growing in number, followed by the 4.0.3 – 4.0.4 Ice Creat Sandwich which takes up 19.8% of the share and last but not least, the most common 4.1.x Jelly Bean taking up the majority with 37.3% of the share.

Other news includes screen size and density shares, with the majority of users having a Normal screen size (with a share of 79.6%) and having a hdpi compatible screen (with a share of 33.4%). Only 8.8% users prefer the ultra high dpi, the xxhdpi, and not far from hdpi are the xhdpi users, taking up a share of 22.2%. The chart below represents the full screen size and density shares representations.

In terms of graphics and 3D modelling, Open GL Version 2.0 takes the lead with a whooping 98.3% of the share compared to version 1.1 and 3.0, which only represent 0.1% and 1.6% of the total. You can find the chart below.

Thank you NextPowerUp and Android Developer for providing us with this information
Images courtesy of Android Developer