Nokia ( NOK) unveiled a $99 smartphone available in emerging markets. The phone maker announced the Nokia Asha 501, a smartphone with a 3-inch screen, 3.2-megapixel camera and 17 hours of talk time. The company said the phone has 4 gigabytes of memory, which can be expanded to 32 gigabytes. Nokia also revealed the software the phone will run on, which is called the Asha platform. It is a revamped version of older software which, like Nokia's higher-end Lumia smartphone, allows users to swipe from side to side in order to use multiple applications at once. An agreement with Facebook ( FB) and Indian wireless carrier Bharti Airtel will enable Asha users in India and Africa to access the social network without incurring data fees. Nokia plans to begin selling the device for $99 plus taxes and subsidies by June in 90 countries.
Green Mountain Coffee Roasters ( GMCR) expanded its partnership with Starbucks ( SBUX) for at least the next five years. Per the agreement, Starbucks will continue making coffee and tea K-cups for use in Keurig single-serve brewing machines, while also adding new brands like Seattle's Best Coffee and Teavana teas. It's been producing Starbucks and Tazo K-cups since the companies' partnership began in 2011. The companies said they plan to expand global marketing of the products as well. The announcement puts to rest speculation that Starbucks would end the partnership after introducing the Verismo, its own single-serve brewer that competes with Keurig machines. Green Mountain reported stronger-than-expected first-quarter earnings on Wednesday. The company said it earned 93 cents per share for the quarter, beating analysts' estimates of 73 cents. The company said its single-serve business experienced 16% growth in the quarter.
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