Video subscription services company Netflix, Inc.(NASDAQ:NFLX) shares rose 11 percent on Thursday after an analyst said that the company had improved its customer satisfaction. Shares of NFLX are up another 6% in Thursday’s session.
Customer complaints have been a bane for the company, that is seeing stiff competition from companies such as Amazon which are offering similar services and have access to more content.
Has NFLX Found The Bottom and Ready To Move Up? Find Out Here http://stockmarketnation.com/?company=NFLXNetflix also increased prices in 2011 for both subscribers of streaming videos and DVD rentals, while it also tried to experiment by separating the two service offerings.
A Citigroup analyst said that a survey had revealed that 48 percent of customers were "very or extremely satisfied" compared to 45 percent in the first two quarters of the year.
“Netflix’s competitive position continues to rise,” Mark Mahaney, a Citigroup analyst in San Francisco, wrote in a note to investors.The Citi analyst also said that the streaming content provided by the company had improved.
According to Mahaney's note thirty-seven percent believed that it had gotten better in the past 12 months, while 16 percent said it had worsened. The shares in the company have been under pressure with concerns being raised that its acquisition of content was being done at high prices.
The company itself had raised doubts in July as to whether it would be able to meet its full-year target of adding 7 million users in the United States.
A delay in chipmaker Intel Corporation(NASDAQ:INTC) ) in the development of power conservation features in its new microprocessors has resulted in Microsoft’s launch of its Windows 8 tablets being pushed back.
Intel has been working on its new Clover Trail microprocessors intended specifically to compete against Apple’s iPads and give the world’s largest software company an edge in the over Apple and Google in the tablet market where it is making its debut.
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Last week Intel had previewed its new chip technology along with a range of tablet PCs running on its new chips though Microsoft has not yet approved ant of the tablets on display.
Intel CEO Paul Otellini had recently said that Windows 8 still needs to be improved.
Meanwhile Nokia Corporation (ADR)(NYSE:NOK) is downplaying the prospects of any competition that a rumoured launch of a smartphone by Microsoft would pose for it.
Nokia’s new Lumia smartphones run on Windows Phone 8 operating system and the Finnish handset maker has said that it would be partnering with Microsoft in the future.
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Nokia CEO Stephen Elop told GigaOM in an interview that the possibility of Microsoft introducing its own smartphone, possibly under the Surface brand, would have no impact on the close relationship between it and the software giant.
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