Qualcomm reported record quarterly revenues and raised its guidance for 2011 as global demand for smartphones and tablets grew. Supply-chain concerns stemming from the earthquake, tsunami and nuclear disaster in Japan had not affected Qualcomm's ability to make chips, and it had seen very little impact on demand for its products, the company said.

Lawmakers in China are revising the income tax law to narrow the wealth gap and to encourage more domestic consumption. The amendment will raise the threshold for personal income tax from CNY2,000 to CNY3,000 a month (from US$304 to US$456).

Apple has agreed to add Foxconn Technology Group affiliate Chimei Innolux as its third supplier of sensors for the iPad 2's touch screen, two people familiar with the matter said. Chimei Innolux will begin supplying the components next month.

Smartphones and tablets will be the first devices to use ARM's upcoming Cortex-A15 processor, and will be available starting late 2012 or early 2013, said James Bruce, the US mobile segment manager at ARM.

According to Samsung South Korea, the smartphone maker "will be releasing a smartphone that boasts performance levels matching desktop PCs." That's because this upcoming device will come equipped with a dual-core processor running at 2GHz.

Samsung is looking to sell the unit for US$1.5 billion, but it may consider a deal under US$1 billion, according to a person familiar with the matter. A potential buyer is Seagate Technology.

NHN and Daum Communications, operators of South Korea's two largest Internet search sites, said in statements they filed complaints against Google with the country's Fair Trade Commission for blocking local phone carriers and manufacturers from embedding their search applications in devices using the Android operating system.

Apple will start selling a white version of its iPhone 4 in the next few weeks, following a 10-month delay, three people with knowledge of the plans said. The release was stalled as Apple resolved manufacturing challenges including paint that peeled under heat.

Cisco is shutting down the consumer-oriented Flip camera business that it bought for US$590 million in 2009. The move will mean the loss of 550 jobs worldwide, cost Cisco US$300 million - and disappoint thousands of users who had enjoyed the devices' simplicity.

Japanese authorities have raised the severity rating of their nuclear crisis to the highest level, seven. The decision reflects the total release of radiation at the damaged Fukushima Daiichi power plant, which is ongoing, rather than a sudden deterioration.

Nokia workers are bracing for what may be the steepest job cuts in almost two decades as the company prepares to start a partnership with Microsoft. A reduction in R&D activities is set to be announced by the end of April, with as many as 6,000 jobs under threat.