Sun Microsystems unveiled its plans to build a Java Virtual Machine (JVM) for the iPhone. JVM will be based on Apple iPhone SDK that was released recently. This is a big boost for Apple in its fight to launch the iPhone as an easy business option in competition with other smart phones and PDAs.

Verizon Wireless expects annual revenue growth in the double-digit percentage range for the next few years, according to Doreen Toben, chief financial officer of majority parent Verizon Communications Inc. We’re very upbeat about the prospects for wireless growth for 2008 and beyond, Toben said. Verizon Wireless is a venture of Verizon and Vodafone Group.

Paramount Pictures will become the first major studio to make clips from thousands of its movies available for use on the Internet. This service gives Facebook users access to footage from thousands of movies. These movies can be sent to others on the popular social networking site.

Vanity Fair released “The 2007 Windfall Report“, which lists the Top 10 money makers in the U.S. for 2007 in Tech Field.

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