Saudi Arabian telecoms giant Saudi Telecom Company (STC) announced the establishment of STV, a technology venture capital fund that aims to achieve its strategic growth aspirations and to help realize Vision 2030’s technological ambitions by investing in new digital areas and by growing the digital innovation ecosystem in the region. STC believes the Middle East is witnessing a digital transformation that is full of opportunities in the digital economy and digital industries, and that the future involves drastic changes that…
China’s Lenovo Group announced results on Thursday May 25, for its fourth fiscal quarter and full-year ended March 31, 2017. It was a year of significant transformation for Lenovo which made good progress in implementing and executing its new “three-wave strategy,” designed to meet the critical business challenges of today, while positioning the company for continued long-term profitable growth. As part of Lenovo’s transformation, the company put in place an aggressive new end-to-end ownership model to manage each business differently,…
Vodafone Group announced that its wholly-owned subsidiary, Vodafone International Holdings B.V. (“Vodafone”), has agreed to transfer part of its indirect shareholding in Safaricom Limited (“Safaricom”) to Vodacom Group Limited (“Vodacom”), its sub-Saharan African subsidiary. Based on the agreed terms of the transaction, Vodafone will be exchanging a 35% indirect interest in Safaricom for 226.8 million new ordinary Vodacom shares. The transaction, which has a value of €2,361 million based on Vodacom’s closing share price on Friday 12 May 2017, will…
LG Electronics Inc. (LG) announced first-quarter 2017 revenue of KRW 14.66 trillion (USD 12.70 billion), an increase of 9.7 percent from the same period last year. LG nearly doubled its operating income to KRW 921.5 billion (USD 798.3 million) with the Home Appliance & Air Solutions Company posting its highest quarterly operating income in eight years. LG Home Appliance & Air Solution Company reported a 10 percent increase in first-quarter sales from the same period a year earlier and 15…
Apple announced financial results for its fiscal 2017 second quarter ended April 1, 2017. The company posted quarterly revenue of $52.9 billion and quarterly earnings per diluted share of $2.10. These results compare to revenue of $50.6 billion and earnings per diluted share of $1.90 in the year-ago quarter. International sales accounted for 65 percent of the quarter’s revenue. “We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand…
Facebook is “closing the gap on TV advertising” according to an Ampere Analysis study, with the average Facebook user soon to be worth more than an average TV viewer. The study suggests that the average revenue generated per user by Facebook advertising has increased 6x in North America and 4x in Europe in the past five years. The findings from the study place Facebook’s advertising influence behind Google, which is closest to TV on the ARPU (average revenue per user)…

Sony Mobile achieves profitability goals this year

Written on Monday, 08 May 2017 08:37
Sony Mobile Communications has shown strong global financial performance by reporting a profit of 10.2 Billion Yen (US$ 91 Million) this year, as per financial results from the company. Continuing its growth trend, Sony Mobile expects to increase annual smartphone unit sales by 1.9 million year-on-year, mainly in the Middle East and Europe, to 16.5 million units. Sales revenue is expected to increase 8 per cent year-on-year to 820 Billion Yen, which will be a record operating income for Sony…
US technology leaders Apple have formally announced its intentions to create a fund of $1bn – which it will subsequently use to invest in US companies in order to boost job creation. Apple has further disclosed that it will invest the money in US companies that perform ‘advanced manufacturing’. Apple, which is headquartered in Cupertino, California, will formally disclose the recipients of the first investment in May. It’s the conglomerates latest move to indicate its efforts to boost job creation…
US tech giants Apple are the victims of its own incredible success, following a quarterly report which indicated its cash holdings, the vast majority of which is held overseas has surpassed the entire economic out-put of Chile. Apple’s stockpile of cash has reached a staggering $256.8 billion, and has sparked debate over what the technology leaders should do with such massive cash reserves. It has also refocused attention on the issue of the disincentives in the US tax system, which…
US chipmaker Qualcomm has been left reeling following the decision made by an arbitration panel to award Canada’s BlackBerry a sum of $814.9m in a settlement dispute relating to royalties for certain past sales. In 2016, both companies took the decision to arbitrate the dispute which centered on Qualcomm’s agreement to cap certain royalties applied to payments made to BlackBerry under a licensing deal. US listed shares of BlackBerry have risen to around 16% at $8.94 in heavy premarket trading,…
US telecoms giant AT&T said it will purchase Straight Path Communications, a spectrum license holder, for $1.6 billion. AT&T’s interest in the firm springs from the fact that it holds licenses of millimeter wave (mmWave) spectrum in the 28GHz and 39GHz bands, both of which have been approved by the Federal Communications Commission (FCC) to be used for 5G. Straight Path Communications Inc. specializes in maximizing the value of assets such as microwave bandwidth licenses and intellectual property. AT&T said…
Vodafone New Zealand is set to purchase 70 percent of the rural broadband and satellite section ‘Farmside’ of operator TeamTalk for NZ$10 million ($7 million). The acquisition is subject to approval by shareholders. Vodafone NZ has the option to purchase the remaining 30 percent for NZ$3 million within the next three years. TeamTalk, established in 1994, is New Zealand’s leading mobile radio company, with its main focus on digital trunking communication services. New Zealand telecom operator Spark announced plans to…
Page 1 of 11