Redbox Kills Streaming Service
Redbox pulled the plug on its streaming service October 7. The Redbox Instant Service only started last year and hoped to combine rentals from its DVD kiosks with a streaming service, but it was never able to compete with competitors like Netflix and Amazon Instant videos.
The company closed down more than 500 DVD rental kiosks last year as well.
HP Splits In Two
Hewlett-Packard has decided to divide itself into two companies. One, called Hewlett-Packard Enterprise will focus on software and services for businesses. The other company will focus on PCs, printers and supplies and will be called HP.
It’s been a rough few years for the company, which is now planning to lay off 55,000 employees. The PC market is shrinking as more users switch to mobile devices. Along with the growth of tablets, comes a decline in the use of printers with users now easily able to transfer documents and photographs wirelessly.
Apple Watch Display Maker Files For Bankruptcy
GT Advanced, the company that makes the sapphire display for the Apple Watch has filed for bankruptcy.
The company’s sapphire glass is touted as being scratch-proof and virtually unbreakable. The material is made from synthetic sapphires. Many thought the screen for the iPhone 6 might be made from sapphire glass, but sapphire glass is only featured in the camera lens and fingerprint reader of Apple’s latest device.
The Chapter 11 filing allows the company to reorganize and make a plan to pay off its debts. The move is not expected to affect production of the watch.