Displaying items by tag: Plans
US ride-hailing colossus Uber disclosed its financial earnings for the final quarter of 2018 which showed its revenue growth has slowed ahead of its much anticipated stock market debut.
The financial figures released by Uber indicated that for the final three months of the year its loss amounted to $865 million, compared with $1.1 billion in the same period a year earlier.
The San Francisco-based firm reported revenue of $3 billion, which represented a 25 percent increase from a year earlier. Uber remains a private company, but routinely discloses some earnings information.
CEO Dara Khosrowshahi has managed to guide Uber through choppy waters since assuming the CEO role from Travis Kalanick.
He is also being tasked with the responsibility of steering the high-value startup to a stock market debut this year, and has promised greater transparency as he seeks to restore confidence in the global ridesharing leader that has been hit by a wave of misconduct scandals and has become embroiled in a series of legal battles regarding its services, particularly in Europe.
Revenue for the full year rose 43 percent to $11.3 billion, with Uber's annual loss shrinking 15 percent to $1.8 billion, according to an official statement from the startup.
Uber operates its’ rideshare business in dozens of countries and has expanded to new areas including food delivery, electric scooters and bikes. The company is recognized as the largest of the venture-backed startups with a presumed valuation of some $70 billion.
Uber CFO Nelson Chai expressed his satisfaction with Uber’s financial results and said, “Last year was our strongest yet, and Q4 set another record for engagement on our platform. Our ridesharing business maintained category leadership in all regions we serve, Uber Freight gained exciting traction in the US, JUMP e-bikes and e-scooters are on the road in over a dozen cities."
Based on gross bookings, Uber Eats has apparently become the largest online food delivery business outside of China.
Telecommunication organizations in Latin America are devising strategies aimed at implementing structures which can enable them to monetize ‘Big Data’. Many are currently involved in developing and deploying ‘Big Data’ solutions. However - monetizing these efforts remain a challenge for telco’s in South America.
The growth of direct and indirect competition in the telecommunications sector has rather inevitably impacted revenue growth rates and the profitability margin of traditional operators worldwide. Universally telecommunication entities have found it difficult to monetize over-the-top services, value-added services and cloud as they try to move away from the traditional connectivity and capacity business. In relation to South America, the potential to monetize ‘Big Data’ has got Telco’s in the continent enthusiastic about the topic – and what ‘Big Data’ technology can bring to business.
Telco’s in Latin America are currently embarking on the initial phase of the project in relation to ‘Big Data’ – focusing their attention firstly on optimizing infrastructure – then they intent to transform their business with predictive analytics, next-generation applications and advanced use cases. In addition to this, companies are also rethinking and re-evaluating their organizational structure and the portfolio it offers clients. Some have developed special units to specifically define roadmaps focused on their digital and innovation strategies in an attempt to re-invent business operations and ultimately to lead them to be in a position to enable new services.
Research has found that capital expenditure or ‘Big Data’ telecommunications services in Latin America market reached $633.3 million in 2016. The investment is projected to reach $1.779 billion in 2022, led by countries such as Brazil and Mexico.
Some of the main priorities for the telco’s will undoubtedly be on improving customer experience satisfaction based on deeper customer understanding, prediction of issues based on extensive and more accurate network analysis, and revenue creation based on identified sales opportunities in the sector. Whether or not the companies can achieve these targets is yet to be seen.
However, it’s clear that as the digital transformation continues to evolve – ‘Big Data’ will become a new revenue source for Telco’s who are preparing to take advantage of new business opportunities. Data from users, services, networks, locations and management sources could be monetized through product promotion, targeted advertisement- new sales opportunities - quality of experience and network optimization. The question for telco’s is not only how to implement the technology, but how to effectively set the value it will extract.
Apple announced its intentions to start manufacturing their products in India a number of weeks ago – and now speculation is rife that the first device it will produce in the region will be the iPhone SE. Sources have suggested the manufacturing process will take place in the southern Indian city of Bangalore.
The US tech giants disclosed its plans to start building phones in India by the end of April. However, there was some confusion expressed when IT Minister of the State of Karnataka, Priyank Kharge, tweeted the details of the announcement which signaled when Apple will begin operations, but then subsequently deleted it.
Reports circulating in India have indicated that Apple will produce between 300,000 and 400,000 iPhone SE units in a plant that will be handled by Taiwanese manufacturer Wistron. However, the company’s Indian director claimed that they’re unaware of any such arrangements.
Analysts believe that producing the iPhone SE could make sense for Apple – the SE will be cheaper and smaller than some of its recent flagship models. The device has a powerful A9 processor and 4-inch Retina display, and is capable of shooting 4K video with its 12 megapixel camera.
The fact that the SE may well be manufactured locally should result in significantly reducing the cost even further, thanks to tax benefits of about 12%. This should inevitable result in attracting more Indian customers to Apple’s ecosystem which includes additional services such as iTunes and Apple Music.
The US tech leaders had previously south incentives which including a tax holiday and other related exemptions in order to pave the way for its entry into the India manufacturing market. However, India’s revenue secretary said it was impossible to extend such benefits to Apple, as the country is about to implement a unified Good and Services Tax system in the forthcoming financial year.
Swedish telecommunications giant Ericsson revealed their ambitious plans for 5G deployment in China. Ericsson endured a number of high-profile setbacks in recent months, but they’ve disclosed some of its strategies in relation to the 5G deployment in China – which is a market they feel is the future of global communications.
One of the central components of Ericsson’s strategies is in the increase of its resources in R&D. This has been implemented in an effort to create new opportunities for the company in China. As the mass deployment of 4G technologies slows down, a massive emphasis has now been put on the preparation of fifth generation mobile communication technology – and Ericsson has made a significant investment in its R&D sector in order to help with the transition from 4G to 5G to keep them a foothold in the market.
Ericsson has been in China for almost 125 years, and Senior Vice President and Head of region North East Asia, Chris Houghton believes technological advancements being made in relation to IoT and autonomous transportation represent an exciting time for the tech sector in the Far East.
While the charismatic Senior VP highlighted that China is a challenging and highly competitive market, he feels that it truly represents the future of global communications and declared that it was imperative Ericsson were ready to readjust to economic realities in the region and embrace the transition from 4G to 5G.
Houghton said: “We have a significant investment in China already, with over 11,000 people in the country covering sales, manufacturing, R&D, global service center and other global functions. We also source a considerable portion of equipment and components in China for our global operations. We are currently increasing our R&D resources to prepare for 5G.”
He added that China’s growth over the past thirty years had been remarkable and that it was an exciting and key market for Ericsson citing that they had enjoyed a long and illustrious history in the region and hoped to continue that tradition.
“China's growth over the past 30 years has been remarkable and the benefits are there for all to see -- people's lives have been improved tremendously. I believe Ericsson China has a bright future; we have been in China for 125 years next year and we are planning for another 125. It's a dynamic, challenging and highly competitive market and will increasingly drive the future of global communications, so we are highly committed and will continue to contribute to China's economic growth and social development into the future. As the mass deployment cycle of 4G technologies slows, we are preparing for 5G to take off.”