Staples, Inc. is an American multinational office supply retailing corporation. It comprises over 1,500 stores in North America. Headquartered in Framingham, Staples does business extensively with enterprises in the United States and Canada, as Staples Business Advantage. Staples sells office supplies, office machines, promotional products and business services both in stores and online; the company opened its first store in Brighton, Massachusetts, on May 1, 1986. Staples was co-founded by Leo Kahn and Thomas G. Stemberg, who were former rivals in the New England retail supermarket industry; the idea for Staples originated in 1985, while Stemberg was working on a proposal for a different business. He needed a ribbon for his printer, but was unable to obtain one because his local dealer was closed for the Independence Day holiday. A frustration with the reliance on small stores for critical supplies combined with Stemberg's background in the grocery business led to a vision for an office supply superstore.
The first store was opened in the Brighton neighborhood of Boston in 1986. Staples started with backing from private equity firms including Bain Capital. In 1991, Staples founded its Canadian subsidiary, The Business Depot, began opening stores under that name, though over a decade all stores were renamed as "Staples"; the first store opened in Vaughan, Canada north of Toronto. The following year, Staples began expanding into Europe, opened its first store in Swansea, United Kingdom. During its tenth anniversary in 1996, Staples became a member of the Fortune 500 companies as sales surpassed $3 billion. On September 4, 1996, Staples and Office Depot announced plans to merge; the Federal Trade Commission decided that the merged company would unfairly increase office supply prices despite competition from OfficeMax, because OfficeMax did not have stores in many of the local markets that the merger would affect. Staples argued that chains such as Walmart and the now-defunct Circuit City represented significant competition, but this argument did little to sway the FTC.
Following the denial of the merger by the FTC, a rivalry has formed between the two companies. Staples acquired the naming rights for the Staples Center in Los Angeles shortly before construction began in 1998. Staples acquired Quill Corporation, an online and catalog retailer of office supplies, for about $685 million in cash and stock and launched Staples.com. Between 1999 and 2001, unsuccessful attempts to enter the telecommunications business were made as Staples created Staples Communications after the purchase of Canada-based company, from an investment group; the company was sold to Platinum Equities and renamed NextiraOne. By 2001, Staples integrated its e-commerce website to all of its subsidiaries across the world. In 2002, Staples launched Staples Foundation for Learning and acquired Medical Arts Press, which became a subsidiary of Quill Corporation. By 2004, Staples expanded to Austria and Denmark and in 2007, Staples opened its first store in India. In March 2005, Staples and Ahold announced a plan to include a Staples branded store-within-store section in all Stop & Shop Supermarkets and Giant Food stores throughout the Northeast.
In August 2006, Ahold announced the addition of the Staples section to all Tops Friendly Markets locations as well. In 2008, Staples acquired Dutch office supplies company Corporate Express, one of the largest office supply wholesalers in the world. Staples launched 11 concept stores in the New England area featuring a large focus on small business and technology related services. On March 6, 2014, Staples announced it would close up to 225 stores in North America by the end of 2015, in order to cut $500 million in costs annually. On February 4, 2015, Staples announced a plan to once again acquire Office Depot, which itself had acquired OfficeMax in a bid to compete against Staples, it was reported that the deal could face antitrust scrutiny for its monopolization of the office supply market, unless growing competition against online retailers is considered a factor as well. On December 7, 2015, the FTC filed a lawsuit to halt the merger, arguing that the merger would harm competition in the commercial office supply market.
Staples intends to challenge the complaint and as of January 2016, the FTC has not changed its stance. On May 10, 2016, the United States District Court for the District of Columbia granted the FTC a preliminary injunction against the merger. After the ruling, Office Depot and Staples announced termination of their proposed merger. In the end of January 2016, it was announced to employees that Staples would be laying off hundreds of workers at their headquarters location; the layoffs are seen by some analysts as a preemptive tactic in case the proposed merger with rival Office Depot did not receive regulatory approval from the Federal Trade Commission. In May 2016, the FTC denied the merger of Office Depot and Staples, sending stocks of both companies tumbling. In November 2016, it was announced that Staples was to sell its United Kingdom operations to Hilco for a “nominal” sum. Hilco said it was planning to phase out Staples branded shops over the coming months, the Staples name was set to disappear from the United Kingdom.
As of March 2018, Hilco had rebranded or closed its 106 Staples UK stores as "Office Outlet", while keeping a red and white colour scheme. Office Outlet was placed into administration in March 2019. In June 2017, Reuters reported that private equity firm Sycamore Partners would buy Staples for $6.9 billion, with Staples saying the purchase was expected to close by December 2017. The deal closed on Se
Central processing unit
A central processing unit called a central processor or main processor, is the electronic circuitry within a computer that carries out the instructions of a computer program by performing the basic arithmetic, logic and input/output operations specified by the instructions. The computer industry has used the term "central processing unit" at least since the early 1960s. Traditionally, the term "CPU" refers to a processor, more to its processing unit and control unit, distinguishing these core elements of a computer from external components such as main memory and I/O circuitry; the form and implementation of CPUs have changed over the course of their history, but their fundamental operation remains unchanged. Principal components of a CPU include the arithmetic logic unit that performs arithmetic and logic operations, processor registers that supply operands to the ALU and store the results of ALU operations and a control unit that orchestrates the fetching and execution of instructions by directing the coordinated operations of the ALU, registers and other components.
Most modern CPUs are microprocessors, meaning they are contained on a single integrated circuit chip. An IC that contains a CPU may contain memory, peripheral interfaces, other components of a computer; some computers employ a multi-core processor, a single chip containing two or more CPUs called "cores". Array processors or vector processors have multiple processors that operate in parallel, with no unit considered central. There exists the concept of virtual CPUs which are an abstraction of dynamical aggregated computational resources. Early computers such as the ENIAC had to be physically rewired to perform different tasks, which caused these machines to be called "fixed-program computers". Since the term "CPU" is defined as a device for software execution, the earliest devices that could rightly be called CPUs came with the advent of the stored-program computer; the idea of a stored-program computer had been present in the design of J. Presper Eckert and John William Mauchly's ENIAC, but was omitted so that it could be finished sooner.
On June 30, 1945, before ENIAC was made, mathematician John von Neumann distributed the paper entitled First Draft of a Report on the EDVAC. It was the outline of a stored-program computer that would be completed in August 1949. EDVAC was designed to perform a certain number of instructions of various types; the programs written for EDVAC were to be stored in high-speed computer memory rather than specified by the physical wiring of the computer. This overcame a severe limitation of ENIAC, the considerable time and effort required to reconfigure the computer to perform a new task. With von Neumann's design, the program that EDVAC ran could be changed by changing the contents of the memory. EDVAC, was not the first stored-program computer. Early CPUs were custom designs used as part of a sometimes distinctive computer. However, this method of designing custom CPUs for a particular application has given way to the development of multi-purpose processors produced in large quantities; this standardization began in the era of discrete transistor mainframes and minicomputers and has accelerated with the popularization of the integrated circuit.
The IC has allowed complex CPUs to be designed and manufactured to tolerances on the order of nanometers. Both the miniaturization and standardization of CPUs have increased the presence of digital devices in modern life far beyond the limited application of dedicated computing machines. Modern microprocessors appear in electronic devices ranging from automobiles to cellphones, sometimes in toys. While von Neumann is most credited with the design of the stored-program computer because of his design of EDVAC, the design became known as the von Neumann architecture, others before him, such as Konrad Zuse, had suggested and implemented similar ideas; the so-called Harvard architecture of the Harvard Mark I, completed before EDVAC used a stored-program design using punched paper tape rather than electronic memory. The key difference between the von Neumann and Harvard architectures is that the latter separates the storage and treatment of CPU instructions and data, while the former uses the same memory space for both.
Most modern CPUs are von Neumann in design, but CPUs with the Harvard architecture are seen as well in embedded applications. Relays and vacuum tubes were used as switching elements; the overall speed of a system is dependent on the speed of the switches. Tube computers like EDVAC tended to average eight hours between failures, whereas relay computers like the Harvard Mark I failed rarely. In the end, tube-based CPUs became dominant because the significant speed advantages afforded outweighed the reliability problems. Most of these early synchronous CPUs ran at low clock rates compared to modern microelectronic designs. Clock signal frequencies ranging from 100 kHz to 4 MHz were common at this time, limited by the speed of the switching de
Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. It was founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music. In 1983, it was rebranded under its current name with more emphasis placed on consumer electronics. Internationally, Best Buy operates in Canada and Mexico, was operational in China until February 2011 and in Europe until 2012, its subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales. Best Buy operates the Best Buy Mobile and Insignia brands in North America, plus Five Star in China. Best Buy sells cellular phones from Verizon Wireless, AT&T Mobility, Sprint Corporation in the United States. In Canada, carriers include Bell Mobility, Rogers Wireless, Telus Mobility, their fighter brands, competing smaller carriers, such as SaskTel. Best Buy was named "Company of the Year" by Forbes magazine in 2004, "Specialty Retailer of the Decade" by Discount Store News in 2001, ranked in the Top 10 of "America's Most Generous Corporations" by Forbes in 2005, made Fortune magazine's list of "Most Admired Companies" in 2006. and "The Most Sustainable Company in the United States" by Barron's in 2019.
Hubert Joly serves as Best Buy's chairman and CEO. According to Yahoo! Finance, Best Buy is the largest specialty retailer in the United States consumer electronics retail industry; the company ranked No. 72 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. On August 28, 1966, Richard M. Schulze and a business partner opened Sound of Music, an electronics store specializing in high fidelity stereos in St. Paul, Minnesota. Schulze financed the opening of his first store with his personal savings and a second mortgage he took out on his family's home. In 1967, Sound of Music acquired Bergo Company. Sound of Music made about $58,000 in profits in its first year. In 1969, Sound of Music had three stores and Schulze bought out his business partner. Sound of Music operated nine stores throughout Minnesota by 1978. In 1981, the Roseville, Sound of Music location, at the time the largest and most profitable Sound of Music store, was hit by a tornado; the store's roof was sheared off and showroom destroyed.
In response, Schulze decided to have a "Tornado Sale" of damaged and excess stock in the damaged store's parking lot. He poured the remainder of his marketing budget into advertising the sale, promising "best buys" on everything. Sound of Music made more money during the four-day sale. In 1983, with seven stores and $10 million in annual sales, Sound of Music was renamed Best Buy Company, Inc; the company expanded its product offerings to include home appliances and VCRs, in an attempt to expand beyond its then-core customer base of 15-to-18-year-old males. That year Best Buy opened its first superstore in Burnsville, Minnesota; the Burnsville location featured a high-volume, low price business model, borrowed from Schulze's successful Tornado Sale in 1981. In its first year, the Burnsville store out-performed all other Best. Best Buy debuted on the New York Stock Exchange in 1987. In 1989, the company introduced a new store concept dubbed "Concept II". Concept II replaced dimly lit industrial-style stores with brighter and more fashionably fixtured stores.
Stores began placing all stock on the sales floor rather than in a stock room, had fewer salespersons and provided more self-help product information for its customers. Best Buy did away with commissioned salespeople; the commission-free sales environment "created a more relaxed shopping environment free of the high-pressure sales tactics used in other stores," but was unpopular with salespersons and suppliers. Some suppliers, such as Maytag and Sony, were upset that salespeople would no longer be pushing their products and stopped selling their wares in Best Buy stores; the suppliers returned after Best Buy's sales and revenue grew following the roll-out of Concept II. In 1992, the company achieved $1 billion in annual revenues. In 1995, Best Buy debuted "Concept III" stores; the Concept III stores included expanded product offerings, interactive touchscreen kiosks that displayed product information for both customers and employees, demonstration areas for products such as surround sound stereo systems and videogames.
Best Buy launched its "Concept IV" stores with its expansion into New England in 1998. Concept IV stores included an open layout with products organized by category, cash registers located throughout the store, smaller stores than Concept III stores; the stores had large areas for demonstrating home theater systems and computer software. In 1999, Best Buy was added to Standard & Poor's S&P 500. In 2000, Best Buy formed Redline Entertainment, an independent music label and action-sports video distributor; the company acquired Magnolia Hi-Fi, Inc. an audio-video retailer located in California and Oregon, in December 2000. In January 2001, Best Buy acquired Musicland Stores Corporation, a Minnetonka, Minnesota-based retailer that sold home entertainment products under the Sam Goody, Suncoast Motion Picture Company, Media Play and OnCue brands. Best Buy purchased the company for $425 million in cash and the assumption of $271 million of Musicland debt; that year, Best Buy acquired the British Columbia, Canada-based electronics-chain Future Shop Ltd. marking its entrance to the international marketplace.
Under the deal, Future Shop was purchased for $37
Lenovo Group Ltd. or Lenovo PC International shortened to Lenovo, is a Chinese multinational technology company with headquarters in Beijing and Morrisville, North Carolina, United States. It designs, develops and sells personal computers, tablet computers, workstations, electronic storage devices, IT management software, smart televisions. Lenovo is the world's largest personal computer vendor by unit sales, as of March 2019, it markets the ThinkPad line of notebook computers, IdeaPad and Legion lines of notebook laptops, the IdeaCentre and ThinkCentre lines of desktops. Lenovo sells its products in around 160 countries. Lenovo's principal facilities are in Beijing and Morrisville, with research centers in Beijing, Shenzhen, Chengdu and Wuhan in China, Yamato in Kanagawa Prefecture and Morrisville in the U. S, it has a joint venture with NEC, Lenovo NEC Holdings, which produces personal computers for the Japanese market. Lenovo was founded in Beijing in November 1984 as Legend and was incorporated in Hong Kong in 1988.
Lenovo acquired IBM's personal computer business in 2005 and agreed to acquire its Intel-based server business in 2014. Lenovo entered the smartphone market in 2012 and as of 2014 was the largest vendor of smartphones in Mainland China. In 2014, Lenovo acquired the mobile phone handset maker Motorola Mobility from Google. Lenovo is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng China-Affiliated Corporations Index referred to as "Red Chips". Liu Chuanzhi founded Lenovo on 1 November 1984 with a group of ten engineers in Beijing with 200,000 yuan; the Chinese government approved Lenovo's incorporation on the same day. Jiǎ Xùfú, one of the founders of Lenovo, indicates the first meeting in preparation for starting the company was held on 17 October of the same year. Eleven people, the entirety of the initial staff, attended; each of the founders was a middle-aged member of the Institute of Computing Technology attached to the Chinese Academy of Sciences. The 200,000 yuan used.
The name for the company agreed upon at this meeting was the Chinese Academy of Sciences Computer Technology Research Institute New Technology Development Company. Their first significant effort, an attempt to import televisions, failed; the group rebuilt itself within a year by conducting quality checks on computers for new buyers. Lenovo soon started developing a circuit board that would allow IBM-compatible personal computers to process Chinese characters; this product was Lenovo's first major success. Lenovo tried and failed to market a digital watch. Liu said, "Our management team differed on which commercial road to travel; this led to big discussions between the engineering chief and myself. He felt that if the quality of the product was good it would sell itself, but I knew this was not true, that marketing and other factors were part of the eventual success of a product." The fact that its staff had little business experience compounded Lenovo's early difficulties. "We were scientists and didn't understand the market", Liu said.
"We just learned by trial-and-error, interesting—but very dangerous", said Liu. In 1990, Lenovo started to market computers using its own brand name. In May 1988, Lenovo placed its first recruitment advertisement; the ad was placed on the front page of the China Youth News. Such ads were quite rare in China then. Out of the 500 respondents, 280 were selected to take a written employment exam. 120 of these candidates were interviewed in person. Although interviewers only had authority to hire 16 people, 58 were given offers; the new staff included 18 people with graduate degrees, 37 with undergraduate degrees, three students with no university-level education. Their average age was 26. Yang Yuanqing, the current CEO of Lenovo, was among that group. Liu Chuanzhi received government permission to form a subsidiary in Hong Kong and to move there along with five other employees. Liu's father in Hong Kong, furthered his son's ambitions through mentoring and facilitating loans. Liu moved to Hong Kong in 1988.
To save money during this period and his co-workers walked instead of taking public transportation. To keep up appearances, they rented hotel rooms for meetings. Lenovo became publicly traded after a 1994 Hong Kong listing. Prior to its IPO, many analysts were optimistic about Lenovo; the company was praised for its good management, strong brand recognition, growth potential. Analysts worried about Lenovo's profitability. Lenovo's IPO was massively over-subscribed. On its first day of trading, the company's stock price hit a high of HK$2.07 and closed at HK$2.00. Proceeds from the offering were used to finance sales offices in Europe, North America and Australia, to expand and improve production and research and development, to increase working capital; when Lenovo was first listed, its managers thought the only purpose of going public was to raise capital. They had little understanding of the rules and responsibilities that went along with running a public company. Before Lenovo conducted its first secondary offering in 1997, Liu proudly announced the company's intent to mainland newspapers only to have its stock halted for two days by regulators to punish his statement.
This occurred several times until Liu learned that he had to choose his words in public. The first time Liu traveled to Europe on a "roadshow" to discuss his company's stock, he was shocked by the skeptical questions he was subjected to and felt offended. Liu came to understand that he wa
Toshiba Corporation is a Japanese multinational conglomerate headquartered in Tokyo, Japan. Its diversified products and services include information technology and communications equipment and systems, electronic components and materials, power systems and social infrastructure systems, consumer electronics, household appliances, medical equipment, office equipment, as well as lighting and logistics. Toshiba was founded in 1939 as Tokyo Shibaura Denki K. K. through the merger of Shibaura Seisaku-sho and Tokyo Denki. The company name was changed to Toshiba Corporation in 1978, it is listed on the Tokyo Stock Exchange, where it is a constituent of the Nikkei 225 and TOPIX indices, the Osaka Securities Exchange and the Nagoya Stock Exchange. Toshiba is the ninth largest semiconductor manufacturer in the world. In 2017, Toshiba filed unaudited quarterly results because of uncertainties at Westinghouse, which had filed for Chapter 11 bankruptcy protection. Toshiba stated that "substantial doubt about the company's ability to continue as a going concern exists".
Toshiba is organized into four groupings: the Digital Products Group, the Electronic Devices Group, the Home Appliances Group and the Social Infrastructure Group. Midea Group, a Chinese company, bought a controlling 80.1% stake in the Toshiba Home Appliances Group in 2016. Toshiba was founded in 1939 by the merger of Tokyo Denki. Shibaura Seisakusho had been founded as Tanaka Seisakusho by Tanaka Hisashige in July 1875 as Japan's first manufacturer of telegraph equipment. In 1904, it was renamed Shibaura Seisakusho. Through the first decades of the 20th century, Shibaura Seisakusho had become a major manufacturer of heavy electrical machinery as Japan modernized during the Meiji Era and became a world industrial power. Tokyo Denki was founded as Hakunetsusha in 1890 and had been Japan's first producer of incandescent electric lamps, it diversified into the manufacture of other consumer products and in 1899 had been renamed Tokyo Denki. The merger of Shibaura and Tokyo Denki created, it was soon nicknamed Toshiba, but it was not until 1978 that the company was renamed Toshiba Corporation.
The group expanded driven by a combination of organic growth and by acquisitions, buying heavy engineering and primary industry firms in the 1940s and 1950s. Groups created include Toshiba Music Industries/Toshiba EMI, Toshiba International Corporation Toshiba Electrical Equipment, Toshiba Chemical, Toshiba Lighting and Technology, Toshiba America Information Systems and Toshiba Carrier Corporation. Toshiba is responsible for a number of Japanese firsts, including radar, the TAC digital computer, transistor television and microwave oven, color video phone, Japanese word processor, MRI system, laptop personal computer, NAND EEPROM, DVD, the Libretto sub-notebook personal computer and HD DVD. In 1977, Toshiba acquired the Brazilian company Semp, subsequently forming Semp Toshiba through the combination of the two companies' South American operations. In 1987, Tocibai Machine, a subsidiary of Toshiba, was accused of illegally selling CNC milling machines used to produce quiet submarine propellers to the Soviet Union in violation of the CoCom agreement, an international embargo on certain countries to COMECON countries.
The Toshiba-Kongsberg scandal involved a subsidiary of Toshiba and the Norwegian company Kongsberg Vaapenfabrikk. The incident strained relations between the United States and Japan, resulted in the arrest and prosecution of two senior executives, as well as the imposition of sanctions on the company by both countries. Senator John Heinz of Pennsylvania said "What Toshiba and Kongsberg did was ransom the security of the United States for $517 million." In 2001, Toshiba signed a contract with Orion Electric, one of the world's largest OEM consumer video electronic makers and suppliers, to manufacture and supply finished consumer TV and video products for Toshiba to meet the increasing demand for the North American market. The contract ended in 2008. In December 2004, Toshiba announced it would discontinue manufacturing traditional in-house cathode-ray tube televisions. In 2006, Toshiba terminated production of in-house plasma TVs. To ensure its future competitiveness in the flat-panel digital television and display market, Toshiba has made a considerable investment in a new kind of display technology called SED.
Before World War II, Toshiba was a member of the Mitsui Group zaibatsu. Today Toshiba is a member of the Mitsui keiretsu, still has preferential arrangements with Mitsui Bank and the other members of the keiretsu. Membership in a keiretsu has traditionally meant loyalty, both corporate and private, to other members of the keiretsu or allied keiretsu; this loyalty can extend as far as the beer which in Toshiba's case is Asahi. In July 2005, BNFL confirmed it planned to sell Westinghouse Electric Company estimated to be worth $1.8 billion. The bid attracted interest from several companies including Toshiba, General Electric and Mitsubishi Heavy Industries and when the Financial Times reported on 23 January 2006 that Toshiba had won the bid, it valued the company's offer at $5 billion; the sale of Westinghouse by the Government of the United Kingdom surp
Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world's second largest and second highest valued semiconductor chip manufacturer based on revenue after being overtaken by Samsung, is the inventor of the x86 series of microprocessors, the processors found in most personal computers. Intel ranked No. 46 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, Dell. Intel manufactures motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing. Intel Corporation was founded on July 18, 1968, by semiconductor pioneers Robert Noyce and Gordon Moore, associated with the executive leadership and vision of Andrew Grove; the company's name was conceived as portmanteau of the words integrated and electronics, with co-founder Noyce having been a key inventor of the integrated circuit.
The fact that "intel" is the term for intelligence information made the name appropriate. Intel was an early developer of SRAM and DRAM memory chips, which represented the majority of its business until 1981. Although Intel created the world's first commercial microprocessor chip in 1971, it was not until the success of the personal computer that this became its primary business. During the 1990s, Intel invested in new microprocessor designs fostering the rapid growth of the computer industry. During this period Intel became the dominant supplier of microprocessors for PCs and was known for aggressive and anti-competitive tactics in defense of its market position against Advanced Micro Devices, as well as a struggle with Microsoft for control over the direction of the PC industry; the Open Source Technology Center at Intel hosts PowerTOP and LatencyTOP, supports other open-source projects such as Wayland, Mesa3D, Intel Array Building Blocks, Threading Building Blocks, Xen. Client Computing Group – 55% of 2016 revenues – produces hardware components used in desktop and notebook computers.
Data Center Group – 29% of 2016 revenues – produces hardware components used in server and storage platforms. Internet of Things Group – 5% of 2016 revenues – offers platforms designed for retail, industrial and home use. Non-Volatile Memory Solutions Group – 4% of 2016 revenues – manufactures NAND flash memory and 3D XPoint, branded as Optane, products used in solid-state drives. Intel Security Group – 4% of 2016 revenues – produces software security, antivirus software. Programmable Solutions Group – 3% of 2016 revenues – manufactures programmable semiconductors. In 2017, Dell accounted for about 16% of Intel's total revenues, Lenovo accounted for 13% of total revenues, HP Inc. accounted for 11% of total revenues. According to IDC, while Intel enjoyed the biggest market share in both the overall worldwide PC microprocessor market and the mobile PC microprocessor in the second quarter of 2011, the numbers decreased by 1.5% and 1.9% compared to the first quarter of 2011. In the 1980s, Intel was among the top ten sellers of semiconductors in the world.
In 1992, Intel became the biggest chip maker by revenue and has held the position since. Other top semiconductor companies include TSMC, Advanced Micro Devices, Texas Instruments, Toshiba and STMicroelectronics. Competitors in PC chipsets include Advanced Micro Devices, VIA Technologies, Silicon Integrated Systems, Nvidia. Intel's competitors in networking include NXP Semiconductors, Broadcom Limited, Marvell Technology Group and Applied Micro Circuits Corporation, competitors in flash memory include Spansion, Qimonda, Toshiba, STMicroelectronics, SK Hynix; the only major competitor in the x86 processor market is Advanced Micro Devices, with which Intel has had full cross-licensing agreements since 1976: each partner can use the other's patented technological innovations without charge after a certain time. However, the cross-licensing agreement is canceled in the event of takeover; some smaller competitors such as VIA Technologies produce low-power x86 processors for small factor computers and portable equipment.
However, the advent of such mobile computing devices, in particular, has in recent years led to a decline in PC sales. Since over 95% of the world's smartphones use processors designed by ARM Holdings, ARM has become a major competitor for Intel's processor market. ARM is planning to make inroads into the PC and server market. Intel has been involved in several disputes regarding violation of antitrust laws, which are noted below. Intel was founded in Mountain View, California, in 1968 by Gordon E. Moore, a chemist, Robert Noyce, a physicist and co-inventor of the integrated circuit. Arthur Rock helped. Moore and Noyce had left Fairchild Semiconductor to found Intel. Rock was not an employee; the total initial investment in Intel was $10,000 from Rock. Just 2 years Intel became a public company via an initial public offering, raising $6.8 million. Intel's third employee was Andy Grove, a chemical engineer, who ran the company through much of the 1980s and the high-growth 1990s. In dec
Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, grocery stores. Headquartered in Bentonville, the company was founded by Sam Walton in 1962 and incorporated on October 31, 1969, it owns and operates Sam's Club retail warehouses. As of January 31, 2019, Walmart has 11,348 stores and clubs in 27 countries, operating under 55 different names; the company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, as Best Price in India. It has wholly owned operations in Argentina, Chile and South Africa. Since August 2018, Walmart only holds a minority stake in Walmart Brasil, with 20% of the company's shares, private equity firm Advent International holding 80% ownership of the company. Walmart is the world's largest company by revenue—over US$500 billion, according to Fortune Global 500 list in 2018—as well as the largest private employer in the world with 2.2 million employees.
It is a publicly traded family-owned business. Sam Walton's heirs own over 50 percent of Walmart through their holding company, Walton Enterprises, through their individual holdings. Walmart was the largest U. S. grocery retailer in 2019, 65 percent of Walmart's US$510.329 billion sales came from U. S. operations. The company was listed on the New York Stock Exchange in 1972. By 1988, Walmart was the most profitable retailer in the U. S. and by October 1989, it had become the largest in terms of revenue. Geographically limited to the South and lower Midwest, by the early 1990s, the company had stores from coast to coast: Sam's Club opened in New Jersey in November 1989 and the first California outlet opened in Lancaster in July 1990. A Walmart in York, Pennsylvania opened in October 1990: the first main store in the Northeast. Walmart's investments outside North America have seen mixed results: its operations and subsidiaries in the United Kingdom, South America, China are successful, whereas its ventures in Germany and South Korea failed.
In 1945, businessman and former J. C. Penney employee Sam Walton bought a branch of the Ben Franklin stores from the Butler Brothers, his primary focus was selling products at low prices to get higher-volume sales at a lower profit margin, portraying it as a crusade for the consumer. He experienced setbacks because the lease price and branch purchase were unusually high, but he was able to find lower-cost suppliers than those used by other stores and was able to undercut his competitors on pricing. Sales increased 45% in his first year of ownership to US$105,000 in revenue, which increased to $140,000 the next year and $175,000 the year after that. Within the fifth year, the store was generating $250,000 in revenue; when the lease for the location expired, Walton was unable to reach an agreement for renewal, so he opened up a new store at 105 N. Main Street in Bentonville, naming it "Walton's Five and Dime"; that store is now the Walmart Museum. On July 2, 1962, Walton opened the first Walmart Discount City store at 719 W. Walnut Street in Rogers, Arkansas.
The building is now occupied by a hardware store and an antique mall, while the company's "Store #1" has since relocated to a larger discount store and now expanded to a Supercenter several blocks west at 2110 W. Walnut Street. Within its first five years, the company expanded to 24 stores across Arkansas and reached US$12.6 million in sales. In 1968, it opened its first stores outside Arkansas, in Sikeston and Claremore, Oklahoma; the company was incorporated as Wal-Mart, Inc. on October 31, 1969, changed its name to Wal-Mart Stores, Inc. in 1970. The same year, the company opened a home office and first distribution center in Bentonville, Arkansas, it had 38 stores operating with 1,500 sales of $44.2 million. It began trading stock as a publicly held company on October 1, 1970, was soon listed on the New York Stock Exchange; the first stock split occurred in May 1971 at a price of $47 per share. By this time, Walmart was operating in five states: Arkansas, Louisiana and Oklahoma; as the company moved into Texas in 1975, there were 125 stores with 7,500 employees and total sales of $340.3 million.
In the 1980s, Walmart continued to grow and by the company's 25th anniversary in 1987, there were 1,198 stores with sales of $15.9 billion and 200,000 associates. This year marked the completion of the company's satellite network, a $24 million investment linking all operating units with the Bentonville office via two-way voice and data transmission and one-way video communication. At the time, the company was the largest private satellite network, allowing the corporate office to track inventory and sales and to communicate to stores. In 1988, Walton was replaced by David Glass. Walton remained as Chairman of the Board. With the contribution of its superstores, the company surpassed Toys "R" Us in toy sales in 1998. While it was the third-largest retailer in the United States, Walmart was more profitable than rivals Kmart and Sears by the late 1980s. By 1990, it became the largest U. S. retailer by revenue. Prior to the summer of 1990, Walmart had no presence on the West Coast or in the Northeast, but in July and October that year, it opened its first stores in California and Pennsylvania, respectively.
By the mid-1990s, it was far and away the most powerful retailer in the U. S. and expanded into Mexico in 1991 and Canada in 1994