Sony is reportedly developing a new portable device that shares characteristics of handheld game machines, e-book readers and netbook computers, according to the Wall Street Journal.

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Publisher Glu Mobile has reported a drop in revenues and reduced losses for its first fiscal quarter ended March 31, 2010.

Quarterly revenues fell from $20.8 million last year to $17.3 million, while operational and net losses were reduced from $2.9 million and $5.8 million in the first quarter of 2009 to $2.7 million and $3.7 million respectively.

The company said it achieved positive cash flows from operations for the fourth consecutive quarter, generating $1.6 million in cash from operations during the three month period.

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French mobile publisher and developer Gameloft has reported first quarter sales growth of seven per cent.

Sales hit €33 million (£28.8m / $43.6m) during the first three months of 2010, compared to €30.8 million (£26.9m / $40.7m) a year earlier.

Europe accounted for 37 per cent of the company’s sales, North America 34 per cent and the rest of the world 29 per cent.

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Google has acquired Israeli game and web gadget developer LabPixies.

The company is perhaps best known for making iPhone title Flood-It!, but has also created numerous games in the form of iGoogle gadgets, Facebook apps, Hi5 games, MySpace games and Android apps.

It specialises in making web games and adapting them for mobile platforms, notably iPhone and Google’s Android.

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The first pictures and details of what appears to be Apple’s fourth generation iPhone have leaked on the internet.

Technology website Gizmodo claims to have gotten its hands on an iPhone 4G unit reportedly lost by Apple.

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A new mobile gaming study conducted by research firm ComScore suggests that the number of mobile gamers in the US has declined by 13 per cent over the past year.

This company says the overall decline was driven by a 35 per cent drop in mobile gaming among feature phone (non-smartphone) users, who represent approximately 80 per cent of the market.

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Mobile phone operator Orange has released its latest Orange Digital Media Index, providing insight into the behaviour of its 17.4 million UK customers.

The report looked at digital usage patterns across Orange’s entertainment and communications services between October and December 2009, and found that UK consumers downloaded 650,000 games during the period.

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THQ has confirmed the closure of Universomo, a studio within its THQ Wireless division.