Low profits, exiting CEO’s and rising competition is surely crippling Yahoo Inc. So how does the 15 year-old Sunnyvale, California-based internet giant regain its glory? Well, the answer is simple … a revamp.

Yes, you read it right! Yahoo Inc. is sprucing up the websites home page with a massive makeover in a bid to start afresh. The makeover was long-awaited and will debut in the United States, United Kingdom, India and France. The rest of the world will be acquainted with the new look by next year.

So what is the “New” Look all about?
Revamped ‘My Favorites’ Section- From eBay to Facebook, you can access third-party sites and services. Plus you can access Yahoo Mail, Messenger, and other service. This has been an important change in the entire homepage.

Application Maker – Now you can lace more than 65 widgets on the new homepage. But the highlight is the fact that you could even create your own apps.

The Trend Setter – If you are acquainted with Twitter’s Trending Topics this should be easy for you. The Trend Setter box located on the top left features top ten favorite searches.

Local News Dispenser – The section is powered by local news and has been moved down. You simply need U.S. City or Zip to access local news.

Apparently the Yahoo mobile page will be in sync with the edits made on the user’s desktop version.

But Why the Sudden Change Now?
With over 600 million visiting the website every month Yahoo still remains one of the busiest domains on the net. It looks like Yahoo is banking on its new look to lift its image and profits plus counter competition from Facebook, Twitter and MySpace. In the end the ulterior motive is to increase traffic and in turn sell more ads (their prime revenue generator). It looks like Yahoo spent a lot of time in redesigning instead of concentrating on steadfast services or apps.

Recently DigiMouth reported about Rediff.com’s minimal new look. It looks like makeovers are the flavour of the season.