Nvidia announced that it plans to produce its own handheld video game console at the first major press conference of this year's Consumer Electronics Show in Las Vegas.
Nvidia CEO Jen-Hsun Huang said the console took five years to develop. He also demonstrated a working prototype of the console and detailed its specifications. Project Shield features a 5-inch touch screen and various types of controls, including joysticks and buttons. It is Android-based and also designed to link to PCs. It runs on Nvidia's new quad-core Tegra 4, which Huang called the fastest mobile processor on the market.
The announcement of a gaming console is an unusual move for Nvidia. Previously, the company had been focused primarily on selling chips and graphics cards.
HTC Corp. is trending as the Taiwanese mobile phone maker reported fourth-quarter net profit that dropped 91% from a year ago. Unaudited net profit in the fourth quarter was T$1 billion ($34 million), down from T$11.02 billion in the same period a year earlier. The company had reported a net profit of T$3.9 billion in the previous quarter. This is the fourth consecutive quarter that HTC profit has declined. The company gave no further information or explanation. HTC is expected to launch a flagship model phone called "M7" sometime early this year.
Lenovo is another popular search. The company is splitting into two separate businesses: Lenovo Business Group and Think Business Group. Beginning April 1, Lenovo Business Group will focus on mid-range laptops, desktops, tablet computers and smart TVs. Think will handle production of enterprise machines and high-end consumer products. The announcement was initially made via an internal email by CEO Yang Yuanqing, who called the Think Business Group the better-positioned entity to compete with Apple (AAPL - Get Report) in the high-end market. In November 2012, it was announced that Lenovo reached its highest-ever global PC market share of 15.7%.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.