Wataniya, Kuwait's No. 2 telecoms operator, reported a 49 percent drop in second-quarter profit on Monday, hit by foreign exchange losses from its Algeria unit and increased domestic competition.
Net profit at the firm, a subsidiary of Qatar Telecom (Qtel) , was 19.1 million dinars ($67.83 million) in the three months to June 30, down from 37.3 million dinars in the same period last year, a company statement said.
The company had 18.3 million customers as of June 30, up 8.3 percent from a year ago.
The world's leading mobile telecoms equipment manufacturer Ericsson was hit by a sharp drop in sales of networks in the second quarter as carriers cut spending in the face of a global slowdown.
Makers of network hardware, such as radio base stations, face lean times as major economies weaken, hitting telecoms operators' revenues, and a decade-long price war continues to rage. Ericsson (Stockholm, Sweden) rivals Alcatel-Lucent (Paris) and Chinese group ZTE (Shenzhen, P.R.C.) have both issued profit warnings in the past week.
Market research firm Infonetics Research released its latest 2G, 3G, 4G (LTE) Services and Subscribers: Voice, SMS/MMS, and Broadband report, which found that globally, the mobile services market is forecast to grow to $976 billion by 2016, with the bulk of the growth coming from mobile broadband services
On Wednesday, FreedomPop, a mobile virtual network operator (MVNO), and Sprint announced the formation of a strategic wholesale relationship that will allow FreedomPop to use Sprint’s 3G network and 4G LTE network, which is set to launch next week.
The telecoms regulator is prepared to approve Verizon Wireless' plan to buy airwaves from cable companies, according to people with knowledge of the situation, though the company still has to convince the Justice Department that the deal will not lead to higher prices for consumers.
Calix, Inc. on Thursday released excerpts for its latest U.S. Rural Broadband Report, based on Internet traffic information drawn from over 50 U.S. communications service provider networks from the first quarter (January through March) of 2012.
Australia's Telstra will sell its struggling New Zealand operations to mobile operator Vodafone in a $670 million deal, threatening Telecom New Zealand's dominance and potentially making it a future takeover target.
Under the sale, Vodafone New Zealand said it will acquire TelstraClear's (Wellington, New Zealand) fixed-line and Internet operations, which hold only 16% of New Zealand's broadband market but will now have the muscle to compete head-on with much larger Telecom.
This summer's Olympic Games in London will be the climax of several years of planning by various organizing committees, including LOCOG - the London Organizing Committee of the Olympic and Paralympic Games - the UK government-appointed organization tasked with preparing and staging the London 2012 Games.
As the Chinese government steps up ‘Broadband China’, its program to provide high-speed broadband connections to more than 250 million households in urban and rural locations by 2015, Alcatel-Lucent announced that it has signed an agreement with China Telecom to deploy its IP/MPLS 7750 Service Router (SR) portfolio.
According to the latest figures published by the Broadband Forum and prepared by broadband industry analysts Point Topic, the global total of broadband subscribers soared to over 600 million in the first quarter of 2012, indicating a further acceleration in growth as over 100 million new lines were added (20% of the total) in less than 18 months.