Universal Display to bank on smartphones until OLED TVs take off

(Reuters) - Universal Display Corp, a provider of organic light-emitting diode display technologies, said it expects OLED televisions to take off in 2014 and will bank on smartphones until then.

OLED displays, which offer better color, contrast and power efficiency than LCDs, are commonly used in mobile phones and are billed the next big thing in TV display.

High prices, however, are a deterrent. OLED TVs, such as those announced by Samsung Electronics Co Ltd, LG Display Co Ltd and Sony Corp, can sell for as much as $10,000.

"2014 is where you will see the first real volume manufacturing (of) OLED TVs," Universal Display CFO Sidney Rosenblatt told Reuters in an interview.

Research firm Display Research expects OLED TV shipments to reach 4.8 million units in 2015 and 9 million in 2016, up from 50,000 units in 2013. (http://link.reuters.com/xyt46t)

Universal Display, which has a monopoly in the OLED technology industry and counts Samsung and LG as its customers, is betting on this surge in volume.

"I don't believe you are going to be able to sell any significant amount of TVs at $10,000. I've read numbers that are anywhere from 50,000 to a couple of 100,000 units in 2013 on the TV side. But in 2014, they're talking about 2-3 million units being sold," Rosenblatt said.

Analysts expect prices of OLED TVs to ease in the next couple of years.

Until then, smartphones will be the main revenue driver for the company. Samsung Display Co Ltd accounted for about 68 percent of Universal Display's total revenue in 2012.

"For 2013, it's smartphones mostly. That's really where the market is," Rosenblatt said.

"Samsung's expected to sell significantly more Galaxy phones this year than it did last year ... I do see that as the bulk of the market this year."

Analysts have also said that OLED TV sales won't ramp up until 2015.

"When we get to 2015, TVs could be an important part of the mix (for Universal Display). I don't want to bank on that yet," Wedbush analyst Craig Irwin told Reuters on Monday.

"You could see OLED TVs be price competitive with backlit LED TVs in a couple of years. So if that's the case, you could see some really glistering growth out of OLED TVs," Irwin said.

Rosenblatt said he expects the OLED display industry to grow to almost $10 billion in 2013 from about $6.6 billion in 2012.

In February, Universal Display forecast full-year revenue of $110 million-$125 million. Analysts expect revenue of $120 million, according to Thomson Reuters I/B/E/S.

Universal Display's shares, which have risen about 36 percent in the last three months, were up 2 pct at $32.51 by late afternoon on Tuesday.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Saumyadeb Chakrabarty)

Source: http://news.yahoo.com/universal-display-bank-smartphones-until-oled-tvs-off-205159753--finance.html

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Value Investing For Mothers-in-Law: Three Psychological Pitfalls To ...

My mother-in-law is known to my kids as Doodles. The name?s origin is a long story, but what?s important here is that she is extremely smart and a very capable businesswoman (she doesn?t go by ?Doodles? professionally). Despite her business expertise, she is always asking me questions about the stock market that seem to miss the underlying philosophy behind long-term value investing.
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In an effort to not seem like an evasive jerk, I will attempt to explain once and for all what I actually do.
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(For the record, Doodles is just a proxy for every social acquaintance who has ever asked me a question about the stock market. If I am addressing a dumb statement, assume that it was an insane distant relative who inspired my commentary. If the question is nuanced and complicated, assume it was the work of Doodles.)
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Well, Doodles, we?ve discussed which types of businesses are appropriate for long-term investment (What 'Buy and Hold' Really Means) and had some high-level discussion about attractive circumstances under which we might want to buy these businesses (Forget What You Know About 'Margin of Safety'). Now we need to discuss the softer side of things. There are some unique psychological pitfalls that often go hand-in-hand with value investing. In short, you will probably feel like an idiot a lot of the time. Personally, I have years of experience in the field of idiocy and I can tell you that while you might get a bit desensitized to feeling dumb, it is still never easy.
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Stocks Are Not a Conversation Piece

First, you are going to have to adjust to thinking about investing as something other than a social activity. You?ve probably been to a cocktail party where the conversation eventually turned to the stock market. Somebody probably talked about owning one of the stocks that is forever in the news. Maybe it was Facebook (NASDAQ:FB) and how it might or might not have figured out mobile. Maybe it was JC Penney (NYSE:JCP), which might or might not have ruined itself by dropping and then reinstating its discounting philosophy. Or maybe it was even Herbalife (NYSE:HLF), which may or may not be a complete fraud, depending on which Wall Street titan you want to believe.
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In all of these cases, nobody is forcing you to own them. Why would you want to fish where everyone else is fishing? If you have some unique insight into one of these stocks, then by all means go for it. Otherwise, doesn?t it seem easier to find a mispricing in a company that most folks have never heard of?
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Instead, try looking at a business like Graco (NYSE:GGG), which makes machines that squirt stuff (paint, adhesives, lubricants, etc.). Of course, you have to wait until the stock has been pummeled a bit to buy it (i.e. not right now). Can you ever imagine a scenario where someone at a party would want to talk about a fluid dispensing machine business (aside from a party at Graco HQ)? Yet the company is dominant in its niche and will be able to continue pressing that advantage for years to come.
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Get ready, though, because you are going to be sipping your drink in a corner by yourself when the stock market talk begins.
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Good Luck Buying at the Bottom, Selling at the Top

Next, you are going to have to get your head around the fact that you are extremely unlikely to buy at the bottom or sell at the top. Remember that when value investing, by definition you are buying a business that is out of favor. Bad earnings reports, cyclical troughs, or splashy scandals (though all with the competitive advantage still intact? very important) can put you in a position to act.
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Unfortunately, there is little chance that your judgment that the investment is attractive will coincide exactly with the rest of the market changing its opinion in the same direction. Instead, you are probably going to appear to be pretty heavily out of step with other investors.? Someone looking at your portfolio might even wince at all of the supposed ?dogs? tying up your capital.
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It may take a year or more for the market to come around to your way of thinking. Then just as the market starts to really agree with you, the stock is going to hit your target for intrinsic value and you are going to sell it. Again, the market isn?t going to change its opinion exactly when you do. Again, you are going to feel like an idiot as you miss the move from ?fairly valued? to ?overvalued.? But let?s be honest: How are you going to tell when ?overvalued? is ?too overvalued??
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This happened to me with PetSmart (NASDAQ:PETM). A few years ago, I bought it in the mid $20s, expecting it was worth somewhere in the mid-$40s. The stock lingered for six months or so while the S&P 500 (INDEXSP:.INX) went up more than 20% (I was an idiot). Then the stock more than caught up, hitting my mid-$40s target. I sold (I was a genius). The stock is now in the $60s (I am an idiot).
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Contrarianism for a Reason, Please

As a fundamental value investor, you will likely be buying businesses that most people don?t care about at a time that, even if they did care about the underlying business a little, they wouldn?t be interested anyway because the near-term looks so hopeless. It can be psychologically hard to feel like you are not part of the club and you will be in danger of becoming a contrarian for contrarianism?s sake. You might dig in your heels and use your portfolio as a means to prove that you are more right than your neighbor. Inappropriate venue, Doodles!
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To guard against this, your most important weapon is simply being aware that it might happen. Then you are going to have to practice doing your own homework and following pundits a little less often (at the very least, don?t follow them blindly). You are going to have to come up with intrinsic value targets based on conservative scenarios and try to separate your emotions from your stocks. Realize that just by agreeing to play, you are admitting that you are going to be wrong in some way. Embrace your wrongness!
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Most importantly, when the party conversation turns to stocks, tactfully steer your fellow revelers to the subject of your awesome grandkids.

No positions in stocks mentioned.

Source: http://www.minyanville.com/trading-and-investing/personal-finance/articles/Psychology-of-Value-Investing-buy-low/3/5/2013/id/48544

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US, China call for new UN sanctions on N. Korea

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Chrome Beta For Android Gets Support For Experimental Data Compression On Google?s Servers, Reduces Data Usage By 50%

Google just announced that it has released a new feature for the Chrome Beta for Android that could speed up web browsing and save bandwidth for mobile Chrome users. With this proxy feature turned on, all your web requests will be routed through Google’s servers, where the company then uses its PageSpeed libraries to compress and optimize the content. The actual connection to the browser from Google’s servers is then handled by the SPDY protocol, which optimizes the content even more. Overall, using this proxy can reduce data usage by about 50%. Just using the PageSpeed libraries to transcode images to the Google-backed WebP format instead of JPEG and PNG makes a significant difference because 60% of all transferred bytes on the average page are images. The proxy, Google software engineer and “mobile web performance gearhead” Matt Welsh writes in the announcement today, “performs intelligent compression and minification of HTML, JavaScript and CSS resources, which removes unnecessary whitespace, comments, and other metadata which are not essential to render the page.” DNS lookups will also be handled by the proxy and turning this feature on, Google notes, also automatically enables the browser’s Safe Browsing mode. To turn this feature on, visit chrome://flags in your browser and select ?Enable Data Compression Proxy.? Even when this feature is turned on, Google will still route all of the secure HTTPS connections from your browser directly to their destination. They won’t touch Google’s servers. The same goes for incognito tabs. While all of this sounds a bit like the Turbo mode Opera offers on its mobile and desktop browsers, the difference here is that all of the page is still rendered by the user’s browser and all of the JavaScript is still executed locally. Also new in this new beta version of Chrome is support for password and autofill entries syncing, which was previously only available for Chrome on the desktop, but the key feature is obviously support for the SPDY proxy service.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/28i2D-6pkQo/

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Media Marketplace Pond5 Acquires Stock Photo Startup Pixmac To Expand Its International Presence

Pond5 has tried to differentiate itself with an artist-friendly model, allowing its contributors to set their own terms and splitting sales with them 50-50. That?s a much more favorable revenue split than the competition, and as a result, the marketplace has done pretty well for itself. Now it?s looking to grow its business internationally, through the acquisition of stock photo competitor Pixmac.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/DH5dep3tHsE/

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The Next Big Thing in China: Independent Auto Repair Shops ...

As anyone who has lived in China and bought a car from new in the PRC knows, Chinese dealerships charge an absolute fortune for simple repair services. How much does it cost to change 4 spark plugs on a 2007 VW Passat at a VW dealerships? 1200RMB (192USD) according to one of my friends who is lamenting having to pay so much. The problem is that dealerships essentially have a stranglehold on the service and repair market, of course you have the mom and pop stores that are by the side of the road and say they can swap you spark plugs, but would you really trust them with a car worth two years of your salary?

The good news for budding entrepreneurs is that the cars bought during China?s golden years of 2007 to 2011 are reaching the end of their warranties and car owners are no longer willing to part with big money for the dealer stamp in the servicing log book. Some foreign servicing companies such as Grease Monkey have entered into the Chinese market, but there is still a great deal of the pie open to other service providers.

The China Daily reports on the new phenomenon that is expected to make a lot of people a lot of money:

In another sign that China?s auto market is maturing, a growing number of independent repair shops are posing a challenge to the dominance of authorized dealerships.

A recent survey by automotive news website Gasgoo found that just half of car owners now use dealer shops after auto warranties expire.

The survey also found that only 15 percent of cars older than eight years are serviced at authorized outlets.

More experienced customers often prefer independent repair shops, saying they offer equally good or even better parts and services than dealers at a much lower price.

Car detailing and customization are also lucrative revenue streams for independent shops.

China?s auto repair and maintenance market is expected to generate 700 billion yuan yearly by 2015, said the survey.

While more than 90 percent of owners use dealerships to maintain vehicles during the warranty period, the majority voice concerns over expensive, non-transparent charges.

Some 92 percent of respondents agreed that ?repair and maintenance prices at a dealership are exceedingly high?, while 70 percent thought ?charges are not transparent?.

Other complaints include long waits and long distances from owners? homes.

Cost effective

Further fueling independent operations is the low cost threshold for repair shops, which in turn means lower prices for consumers.

Global auto component company ACDelco has more than 100 franchised shops in China. In Beijing alone, it has 48 outlets.

The company?s website said it costs only 400,000 yuan to 500,000 yuan to buy a franchise. An authorized dealership can cost up to 100 million yuan.

Continue reading here:
The Next Big Thing in China: Independent Auto Repair Shops

Tags: china, chinese, industry news

Source: http://www.aftermarketleads.com/2013/03/the-next-big-thing-in-china-independent-auto-repair-shops.html

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Future uncertain for Florida sinkhole site

SEFFNER, Fla. (AP) ? A backhoe chipped away Monday at the remains of a house where a sinkhole opened up and swallowed a man, but there was little certainty as to what would come next for the site of the freak geological incident.

Though thousands of sinkholes erupt in Florida each year, most are small, few affect homes, and even fewer cause deaths. The sinkhole in the Tampa suburb of Seffner, however, was different.

Crews still were working to remove enough of the home to see more clearly inside the hole and determine what steps would come after the property is razed. There has been no definitive word as to whether the hole will be filled or whether the property could be built on again. But some experts say the fact that the sinkhole claimed a life ? that of Jeff Bush, 37 ? and that his body is expected to remain below the surface make rebuilding less likely.

"It's kind of a bad omen," said Dave Arnold, a hydrogeologist who has surveyed sinkholes for the Southwest Florida Water Management District. "This is an even worse omen with someone buried under there."

Arnold and other experts expect that once the house if destroyed, crews will work to fill in the hole and the lot will likely remain empty. Depending on the circumstances, past Florida sinkholes have been handled in varied ways.

In Maitland, Fla., a sinkhole 325 feet across was discovered in the 1960s as Interstate 4 was built. The highway was diverted around the area, but in 2008 workers began a $9 million project to fill and stabilize the sinkhole in preparation for a planned expansion of the roadway. Engineers say a road can be put over it now without any problems.

In Winter Park, Fla., a sinkhole in 1981 swallowed several sports cars, parts of two businesses, the deep end of an Olympic-size swimming pool and a three-bedroom house. It stretched about 350 feet across and caused $2 million in damages. The area became a temporary tourist attraction, but most of it was ultimately deserted, filled with water and became a lake.

And in 2002, a sinkhole about 150 feet across and 60 feet deep swallowed oak trees, sidewalk and park benches near an apartment complex in western Orange County, Fla. Two buildings with more than 100 residents were evacuated, but the structures were ultimately saved. Metal sheet piling was placed around the hole to stop the soil from sliding, and it was filled.

Often, homeowners find clues to a pending problem by cracks in the foundation or a shifting floor. When that happens, and a sinkhole threat has been established, crews can pump a thick grout ? a mixture of sand and cement ? into the ground to fill the holes. It is a costly process, though it is typically paid by insurance companies, and can save a home from being destroyed.

"You inject the grout under pressure and attempt to fill all the cavities you can find," said Anthony Randazzo, a former University of Florida geology professor who started the consulting firm Geohazards, which handles about 1,000 cases a year of sinkholes and other settlement issues.

Though the specifics of what will happen to the Seffner property remain unknown, Randazzo said the hole would have to be filled to keep people from falling in it and to remove a potential neighborhood eyesore.

If the family decides to try to sell the property, they would be required to notify prospective buyers of the sinkhole issue.

Currently, various county agencies are at the sinkhole site to supervise, but officials haven't given a tally of the costs or said who is absorbing them.

For now, the focus in Seffner remains on a family mourning a loved one and trying to move on. Two large backhoes scraped and pulled at the house Monday afternoon, with one gently removing possessions including a flag, a jacket, family photographs, a bicycle and a china cabinet. The other machine loaded shattered pieces of furniture and construction material into a huge waste container.

The day's most solemn moment came at 4 p.m., when demolition stopped and workers joined family members for a brief ceremony. The many flowers and notes that had been left in front of the house were loaded into a tractor's bucket, which swung slowly toward the sinkhole and dropped the materials into the hole. There was applause from across the street.

Though the house's demolition was completed Monday, crews had not yet finished removing its foundation. After that is done, likely Tuesday, they planned to survey the hole to better understand its dimensions. Hillsborough County spokesman Willie Puz said workers would then "stabilize the hole," though he remained mum on details of what precisely would be done.

"Every sinkhole is different," he said.

___

Sedensky reported from West Palm Beach. Follow him on Twitter at http://twitter.com/Sedensky

___

Associated Press writers Tamara Lush and Christine Armario contributed to this report.

Source: http://news.yahoo.com/continues-future-uncertain-sinkhole-214021674.html

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