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The digital newsstand app is one of the first products the company plans to abandon this year, but it says it will continue to take a "mobile products-first" approach to development.
Yahoo's magazine app for the iPad has an odd Microsoft feel to it and is harder to navigate than it needs to be.
The Web giant debuts several new products, including a Flipboard competitor called Livestand, at its Product Runway event.
The app for iOS and Android devices, called Livestand, is envisioned as a platform for content from both inside and outside Yahoo.
Speaking at Mobile World Congress, Yahoo CEO Carol Bartz touts the virtues of the company's new Livestand "digital newsstand" for gadgets in varying dimensions.
The two Web titans are set to launch rivals to the popular Flipboard, giving tablet users more options for reading news and magazine content.
Currents is a reader program designed to be a single destination for magazine content, video and photo feeds, and Google+ streams.
The Web giant is reportedly readying Currents, a digital newsstand for tablets that will enter a crowded but nascent market.
The battle rages among developers as to what works best--native apps or HTML 5. Here's the bet Yahoo is making.
The good news for Yahoo is that it beat Wall Street's expectations. It also highlighted in its earnings release that it created a very successful landing page for all varieties of information about Prince William's wedding.