Radical cost-cutting measures drove OTE’s second-quarter net income up by 65%, to €104.5 million ($128.6 million), compared with the same period last year, as the Greek telecoms incumbent warned of tough times ahead.
The operator is facing challenging economic conditions as Europe’s financial crisis rumbles on, and its revenue decline of 5.2%, to €1.1 billion, was less than some commentators had feared.
Singaporean operator StarHub has reported an impressive 11% rise in profit thanks to revenue growth across all of its operations and a boost from its broadcast of Euro 2012 football matches in the summer.
The company’s second-quarter net income rose to S$87 million ($69.8 million), from around S$78 million in the same period last year, while revenues grew by 4% to S$591 million.
StarHub reported revenue growth at each of its mobile, pay TV, broadband and fixed network divisions, but enjoyed particular success in broadcasting.
The number of worldwide cellular M2M connections is forecast to soar from its current level of 277 million to a staggering 2.5 billion by 2020, according to a new report from Strategy Analytics.
A combination of factors, including global connectivity platforms, efforts at standardization, cloud computing and regulatory initiatives will help contribute to a compound annual growth rate of more than 30% between now and 2020, says the company.
Strategy Analytics reckons that most M2M activity will come in the areas of mHealth, smart metering, telematics and automation.
Leap Wireless International Inc's quarterly revenue missed Wall Street estimates as more customers defected and average revenue per subscriber (ARPU) at the low-cost mobile services provider fell for the first time in seven quarters.
Shares of the company, which focuses on cost-conscious customers and competes with MetroPCS Communications Inc, fell 15 percent in trading after the bell.
The company said customer retention programs did not work out as well as expected and came at a higher-than-anticipated cost.
Saudi telco Etihad Etisalat (Mobily) has awarded IBM a five-year contract worth 1.05 billion riyals ($280 million) to outsource its information technology operations, it said in a bourse statement on Sunday.
The contract will be self-financed and will lead to improvements in Mobily's products as well as making the company more flexible, it said without further elaboration.
Kuwaiti-headquartered operator Zain has said it plans to focus on data services after posting slight gains in profit and revenues for the six months ending in June.
The company, which operates in eight markets across the Middle East and North Africa, grew net income by 1%, year on year, to 141.9 million dinars ($509.6 million), while its revenues also rose by just 1% to 663.5 million dinars.
Zain says it is facing a challenging industry and economic environment, with tough competition and currency fluctuations putting it under considerable pressure.
Unitech Wireless says it has been given the go-ahead by the Delhi High Court to auction off its assets in India.
The operator is 67% owned by Norway’s Telenor, with Indian property developer Unitech holding the remaining shares. But the two partners have fallen out over the valuation of the business and disagree on how to proceed.
Telenor thinks an open auction will resolve the problem. It plans to form another Indian company and bid for Unitech Wireless assets during that auction. Unitech, however, is opposed to the auction process.
US operator Sprint has signed an agreement with Alcatel Lucent to use the vendor’s lightRadio Metro Cells in its rollout of 4G services across the country.
The technology should allow Sprint to improve the coverage and capacity of its 4G network in busy areas like shopping malls and sports stadiums.
Philippines operator Globe Telecom has reported a sharp fall in profits as it continues to invest in the modernization of its network amid tough competition.
Net income after tax fell by 10% for the first half of the year, to 5 billion pesos ($120 million), compared with the same period last year, despite a 6% increase in revenues to 40.8 billion pesos.
Apple Inc trotted out a veteran designer to bolster its claims that Samsung Electronics copied the iPhone, after the smartphone's 2007 launch triggered a "crisis in design" for the South Korean electronics giant.
Monday marked the second week of a high-wattage trial between the world's most valuable tech company and rival Samsung, which has edged past Apple in market share and is intent on expanding its American footprint.