The Byte - Facebook to buy Instagram, device theft, Sony net loss, HP cloud services

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Facebook announced it will buy the photo-sharing app Instagram for 1 billion dollars. Verizon, Sprint, AT&T and T-Mobile are teaming up with the U.S. FCC to combat phone theft. Sony expects its net loss to be more than double what it estimated 2 months ago for the fiscal year ending March 31. HP announced it will add a series of open source-based cloud services.