Displaying items by tag: Finance
The market value of SoftBank Group, Uber’s biggest stakeholder, has decreased by $16 billion following Uber’s disappointing initial public offering.
Vodafone, the British Telecom giant, announced Tuesday its losses for the fiscal year which ended in March 2019 of 7.6 billion Euros ($ 8.5 billion).
US technology behemoth Microsoft is edging nearer a trillion-dollar valuation after its profits soared in the first-quarter of 2019. Microsoft enjoyed the increase in its revenues largely because of its cloud and business services continue to resonate with the market.
Profits’ in the opening quarter climbed by 19% to $8.8bn and that represents an increase of 14% from the same period a year earlier. Microsoft also saw its shares gain 3% on the New York Stock Exchange which pushes it closer to a $1 trillion valuation.
By the close of the bell on Wall Street, Microsoft was valued at $960m, which places them just behind Apple and slightly ahead of Amazon.
The financial results indicate that Microsoft is now becoming increasingly reliant on cloud computing and other business services which now drive its earnings, in contrast to its earlier days when it focused on consumer PC software.
“Leading organizations of every size in every industry trust the Microsoft cloud," chief executive Satya Nadella said in a statement.
Commercial cloud revenue rose 41 percent from a year ago to $9.6 billion, which now makes up nearly a third of sales, Microsoft said.
In addition to this, it was disclosed that some $10.2 billion in revenue came from the productivity and business services unit which includes its Office software suite for both consumers and enterprises, and the LinkedIn professional social network.
The more personal computing unit which includes its Windows software, Surface devices and gaming operations generated $10.6 billion in the quarter.
In advance of Mobile World Congress, Nokia today announces a raft of enhancements to its Anyhaul transport portfolio that help operators prepare their networks for 5G by delivering throughput speeds of up to 25 Gbps to base stations.
The launches span microwave, optical, IP and broadband technologies within a carrier Software Defined Networking (SDN) transport architecture. This simplifies the integration of transport with cloud-based radio access and core networks, thereby enabling an automated end-to-end 5G network slicing and service provisioning system.
Nokia Anyhaul is the industry's most extensive range of transport solutions. These solutions can be rapidly and dynamically provisioned to support the massive connectivity, extreme low latency and very high throughput demands of 5G services.
Programmability and automation dynamically create transport network slices to quickly and cost-effectively match diverse application and user needs with end-to-end service delivery guarantees.
The Nokia Anyhaul portfolio enables operators to deploy the optimal mix of transport technologies to create a flexible fabric that matches their unique network and business needs.
The new Nokia 1830 Versatile WDM Module (VWM) Translation Line Unit (TLU)-200 provides high density wavelength translation at 10 Gbps and 25 Gbps speeds. Purpose-built for Cloud RAN and Edge Cloud requirements, it simplifies operations and improves reliability of fronthaul connectivity for 4G Common Public Radio Interface (CPRI)/Open Base Station Architecture Initiative (OBSAI) and 5G eCPRI data.
A new, compact interconnect router, the Nokia 7250 IXR-e, is purpose-built to support 5G and edge cloud requirements at or near base stations with 1/10/25/100 GE interfaces. The 7250 IXR-e features a compact architecture with efficient cooling and optimized space efficiency for minimal installation costs. It complements the previously released 7250 IXR-R6, which also supports 5G requirements and 1/10/25/100 GE interfaces.
A proof of concept of Nokia Broadband Anyhaul 25G Passive Optical Network (PON) demonstrates the viability of building on existing fiber infrastructure to offer 25 Gbps speeds. Co-existing with 2.5G and 10G PON technologies, 25G PON enables more radio access sites to be connected on the same fiber to reduce costs.
Nokia has successfully trialed 25G PON proof of concept with T-1 operators in North America and Japan in January 2019.
Jimmy Yu, Vice President at Dell'Oro Group, said: "Mobile backhaul has always been done with a variety of transport technologies to balance the needs of performance, time, and economics. This will continue with 5G, and for this reason, operators will need an assortment of transport technologies-microwave, optical, IP and PON-that suit their unique requirements in 5G fronthaul and backhaul. The rollout of 5G has just started this year and if our predictions are correct, demand for 5G backhaul transport systems (not including fiber) will begin ramping in a year's time and surpass $1 billion of annual sales in the following two years."
Phil Twist, VP of Networks Marketing and Communications, at Nokia said: "Our Anyhaul portfolio is a key element of the Nokia 5G Future X architecture, which equips our customers to take advantage of the promise of this next generation of network technology. Nokia Anyhaul has been deployed globally and is now being selected in countries such as the US, Japan, China, and South Korea where we are helping the fast-movers transform to 5G. The expertise and invaluable best practices we gain will further simplify and reduce risk for other operators as they move to 5G."
As India prepares itself for the transition to 4G, Qualcomm has observed a 23% increase of revenue due to a demand surge for phones.
The American chipmaker powers more than half of all smartphones sold in India and posted sales of Rs 5,426 crore locking in a net profit of Rs 518 crore in FY18, financials sourced from research platform Tofler. The company’s growth slowed down from a year ago when it grew 39%, but has nearly doubled sales and profit over the past three years.
“There are two aspects that have stood out for India; one, this is a growing market for smartphones and two, the telecom carriers have also rapidly adopted 4G, which has transitioned this market totally from 3G to 4G and now is moving the 2G to 4G,” said Rajen Vagadia, country manager of Qualcomm India.
The telecom industry in the world’s second-most-populous nation is transiting rapidly to 4G data technology after the entry of RelianceNSE -0.39 % Jio. The Indian mobile network operator started services in September 2016, and helped spur data consumption in the country with its 4G-only network, meaning rivals Airtel and Vodafone were forced to slash its tariffs.
India mobile phone shipment crossed 300 million units for the first time ever with smartphones capturing almost 44% of the total volumes in CY 2017.
San Diego-based Qualcomm said it has evolved over the last few years supporting end-to-end product engineering, contributing to technology innovation in areas such as 4G, IoT and now 5G.
“This transition has been fuelled by solutions that Qualcomm provided, including the explosive growth of the Jio 4G feature phone at one end of the spectrum while our partners like Xiaomi have brought premium tier Snapdragon 845 at affordable prices,” Vagadia added.
Qualcomm’s Indian revenue doesn’t account sale of all its products in India however. A bulk of its transactions are with global suppliers in the US and China, which in turn market them in the country.
Shobhit Srivastava, research analyst, Mobile Devices and Ecosystems, Counterpoint Research says that most of the smartphones featuring Qualcomm’s Snapdragon chipset are in the mid and high tier segment, which explains the company’s billion dollar sales value in India.
”Qualcomm India can further grow its revenues given the OEMs (original equipment manufacturer) and ODMs in India start sourcing products directly with the advancing manufacturing and designing ecosystem in India,” he said in an interview to The Economic Times.
Qualcomm has helped bring features such as voice calls over a 4G LTE network and voice over Wi-Fi for consumers in India, by working closely with Indian cell carriers. The chipmaker said most companies were looking to launch major global technologies concurrently in India, making the country the first or second market for such rollouts.
According to The Wall Street Journal, Google is reportedly set to purchase significant amounts of real estate throughout New York City, which could provide an extra 12,000 tech workers to multiply its workforce.
Parent company, Alphabet Inc. is nearing a deal to buy or lease three new properties in the city, including a 1.3 million-square foot building in St. John’s Terminal.
Earlier this year, the tech giant spent $2.4 billion buying New York City’s historic Chelsea Market, with plans to add a community space, winter garden and a public water taxi landing. It closely resides to their 111 Eighth Avenue headquarters, which they purchased in 2010.
Over the last two years Google has spent a reported $2.8 billion on real estate, and earlier this month paid $1 billion for a property in Mountain View, California.
Amazon is also set for expansion in New York, with plans set to split its headquarters between Long Island City in Queens and Arlington County VA, providing a further 25,000 jobs for the company. HQ2 is set to be the largest economic development project in New York State history, bringing billion of dollars in tax revenue.
Samsung has announced that it will re-launch its much maligned Galaxy Note 7 after developing a refurbished version of the handset - and plan to introduce it into the South Korean market later this month. Samsung was forced to recall all of its Galaxy Note 7 devices last year, following widespread reports of handsets catching fire - and in some instances self-combusting, due to faulty batteries.
It was a huge blow for Samsung, and it’s been estimated that the faulty devices cost the South Korean conglomerate around $5 billion in operating profit – whilst it also dented its stock price and had an adverse effect on its relationship with stakeholders.
However, Samsung have now refurbished the Galaxy Note 7 by using new batteries and intend on releasing 400,000 phones to the market. The device has now been dubbed the ‘Galaxy Note 7 Fan Edition’ and is priced at around $611, which is about 30% cheaper than the price of the Note 7’s when initially launched last year. In addition to this, it has been revealed that the devices will be made from recalled, unsealed Note 7 handsets and unused Note 7 components.
Batteries in the newly refurbished Galaxy Note 7 have been subject to strict new testing, but have passed all the new safety measures which Samsung introduced following the recall last year. The batteries will have a lower capacity than those in the original Note 7.
Samsung had announced earlier this year that it planned to re-introduce the phones onto the market following the conclusion of an investigation by Samsung and other independent firm which established that the batteries were the sole responsibility for the fires in the faulty Note 7 devices. The world’s biggest smartphone maker by volume also announced its plan to launch an event for the Note 8 in the second-half of August. Samsung has thus far declined to comment on whether it plans on introducing the refurbished Note 7’s to other markets at a later date, although sources close to company claim they don’t plan on relaunching the refurbished Note 7 in the United States or India.