Nokia released its Q3 financial results for 2017 showing net sales of €5.5 billion for the quarter compared to €6 billion for the same period last year. The company reported a 7 percent year-on-year sales decrease in Q3. Nokia CEO Rajeev Suri said the company’s patent licensing business was the “clear highlight” of the quarter. “We reached a favorable arbitration outcome with LG and have since reached an agreement with them on a license for a longer term than what…

Telefónica still in heavy debt following sale of Telxius

Written on Monday, 30 October 2017 08:33
Spanish telecoms giant Telefonica released its financial results for the January-September period, showing a profit of €2,439 million (+9.6 percent) and a free cash flow generation of €3,226 million (+ 39.2 percent). The company still faces heavy debt despite the sale of its infrastructure arm Telxius. Telefónica’s debt fell by €3.646 million to €45.947 million. Telefónica confirmed in February it would sell up to 40 percent of its infrastructure unit Telxius to US investment fund KKR for 1.27 billion euros…

Ericsson reports 6 percent year-on-year drop in Q3 revenue

Written on Sunday, 29 October 2017 12:11
Swedish telecom equipment provider Ericsson published its Q3 financial results on October 20. The company reported a 6 percent year-on-year drop in third quarter revenue which accounted for SEK47.8 billion ($5.9 billion) while the loss was SEK4.8 billion ($590 million), worse than last year’s, reaching $24.5 million. “We continue to execute on our focused business strategy,” said Ericsson President and CEO Borje Ekholm. “While more remains to be done, we are starting to see some encouraging improvements in our performance…

Etisalat Group’s net profit up 29% year-on-year

Written on Sunday, 29 October 2017 10:48
UAE telecom company Etisalat Group, which operates and owns subsidiaries in Middle East, Africa and Asia, released its consolidated financial statement on October 25 for the three months ending 30 September. Consolidated net profit after Federal Royalty amounted to AED 2.4 billion resulting in a net profit margin of 19 percent and increased year-on-year by 29 percent. The company’s consolidated revenues amounted to AED 12.9 billion. Etisalat Group’s UAE branch saw a 3 percent revenue increase year-on-year amounting to AED…
Etihad Etisalat (Mobily) in Saudi Arabia reported a Q3 loss, blaming a requirement introduced last year that customers had to register their fingerprint with SIM cards. The company’s net losses increased by 5 percent to 174.5 million riyals ($46.53 million) it said in a statement to the Saudi bourse. Revenue also dropped 4.3 percent to 2.8 billion riyals. Mobily said introducing the fingerprint registration rule led to an “erosion” of its customer base. The requirement was introduced last year by…
Cisco announced it will acquire publicly-held BroadSoft, Inc., the global communication software and service provider headquartered in Gaithersburg, MD. Cisco will pay $55 per share, in cash, or an aggregate purchase price of approximately $1.9 billion net of cash, assuming fully diluted shares including conversion of debt. The acquisition has been approved by the board of directors of each company. "Together, Cisco and BroadSoft will deliver a robust suite of collaboration capabilities across every market segment," said Rowan Trollope, senior vice president and…

US regulator settles $17 million dispute with Verizon

Written on Thursday, 19 October 2017 08:13
The US Federal Communications Commission (FCC) announced a settlement with Verizon for possible violations of the FCC’s competitive bidding rules for the E-rate program, which provides discounts to assist most schools and libraries in the United States to obtain affordable internet access.  Verizon agreed to pay $17.68 million to resolve parallel investigations by the FCC and U.S. Department of Justice, $17.325 million of which will be repaid to the Universal Service Fund (USF).  Verizon has further agreed to withdraw any…

Qualcomm disagrees with Taiwan anti-competition fine

Written on Monday, 16 October 2017 08:19
Qualcomm announced that the Taiwan Fair Trade Commission (TFTC) has reached a decision in a TFTC investigation, stating in a press release that certain of the company’s business practices are in violation of Taiwanese competition law and imposing a fine of approximately $23.4 billion Taiwan dollars (approximately $773 million US dollars at current exchange rates). The TFTC claimed that “in spite of its monopoly in the baseband chip markets of cellular standards such as CDMA, WCDMA and LTE etc., [Qualcomm]…

HTC employees to join Google in $1.1bn cooperation deal

Written on Tuesday, 26 September 2017 08:35
Alphabet-owned Google announced a definitive agreement with HTC on Sept. 21 under which HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive US$1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual property. The transaction is subject to regulatory approvals and expected to close by early 2018. It represents a significant investment by Google in Taiwan…
Saudi Arabia’s second and third largest mobile operators, Etihad Etisalat (Mobily) and Zain Saudi Arabia have reportedly paid the first installments (30 percent of the total amount) for the acquisition of additional spectrum in the 1800MHz band. The new spectrum will be valid for fifteen years, after it goes into effect on January 1, 2018. Mobily paid SAR126.9 (US$33 million) for its first payment installment and Zain KSA paid SAR 253.8 million (US$68 million), before the deadline of September 11.…

Vodafone Germany to invest €2 billion in fixed infrastructure

Written on Tuesday, 19 September 2017 08:30
Vodafone Germany said it plans to invest €2 billion in its fixed infrastructure as it moves to deliver gigabit fiber broadband to 13.7 million customers. The company said it aims to finish the investment by 2021 and will focus on three segments in cooperation with partner companies in Germany. The network expansion and upgrade plays into Vodafone Germany’s aim to become a “leading converged communications operator” in the country. The operator said its enterprise-focused unit will bring fiber connectivity to…
Spain could increase its GDP by $48.5 billion, an additional 3.6 percent, by 2021, according to a report by Mobile World Capital Barcelona and Accenture Strategy called ‘Opportunity of the Digital Economy in Spain: How digitalization can speed up the Spanish economy’. Findings of the study, which analyzed the state of digital transformation in Spain and its opportunities for improvement, was presented at the 31st Meeting of Telecommunications and Digital Economy held in the Spanish city of Santander, on September…
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