Financial

Mobile Internet Driving Service Revenues, Contributes 31% Globally in 1Q 2014

In ABI Research’s profitability analysis, Verizon Wireless beat China Mobile for the first time

ABI Research

SINGAPORE - ​In 1Q 2014, the worldwide mobile service revenue increased 0.58% year-on-year (YoY) to US$264 billion according to ABI Research, and the aggregate service revenue for 2014 will grow 2.9% YoY to US$1.01 trillion, mainly driven by the robust growth of the mobile Internet market. Proliferating mobile data subscriptions and enhanced network capacity will drive global mobile Internet service revenue to US$456.7 billion by 2019—44.7% of total mobile service revenue.

Sprint's new pricing plans may not be enough to curb churn

New pricing plan fuels investor concern about margins and pushed its stock down 4.1 percent

Reuters

WASHINGTON (Reuters) - Sprint Corp's cellular plan with more generous data allowances may fall short in overcoming defections by clients concerned about disruptions in the No. 3 cellular carrier's network, analysts say.

The new plan, which doubles the company's data offerings and provides a credit of up to $350 for customers switching from other carriers, does not benefit existing Sprint subscribers, who are kept on their original, more expensive pricing plans.

Taiwan growth outlook brightens as factories gear up for smartphone demand

Taiwan's export orders are seen as a leading indicator of demand for Asia's exports and hi-tech devices

Reuters

TAIPEI (Reuters) - The launch of new tech products such as Apple's iPhone 6 will help Taiwan remain one of Asia's stronger exporters, bolstering its economic prospects this year amid a patchy global recovery.

After the government raised Taiwan's GDP outlook for 2014 last week, export orders on Wednesday will provide more evidence that prospects have improved for the trade-reliant economy. A manufacturing survey in July showed new export orders grew at their fastest rates since January 2011.

Samsung buys home-automation startup SmartThings

Joins Apple and Google in exploring ways to integrate connected household gadgets

Reuters

SAN FRANCISCO (Reuters) - Samsung Electronics Co Ltd will buy SmartThings, a startup backed by PayPal co-founder Max Levchin that helps connect household devices, one of its largest U.S.-startup acquisitions to date.

The South Korean electronics maker joins fellow technology heavyweights Apple Inc and Google Inc in exploring ways to integrate connected household gadgets such as thermostats and lights with mobile apps, a trend commonly known as "Internet of Things."

Cisco to take $700 million in restructuring charges for layoffs

Facing pressure to retire, CEO Chambers says savings will go toward profitable sectors like cloud and security

Reuters

(Reuters) - Network equipment maker Cisco Systems Inc said on Thursday its plan to slash 6,000 jobs will result in restructuring charges of $700 million in cash in the year ending July 2015.

The latest round of layoffs, announced on Wednesday, is at least the fourth workforce reduction in about as many years for a company once synonymous with the Internet boom and could spark a shakeup in management, analysts said.

Shares in Cisco, still the world's largest networking equipment maker, were down 2.7 percent at $24.52 on the Nasdaq.

FleetCor to buy payments processor Comdata for $3.45 billion

Provider of fleet fuel cards for trucking looks to expand into virtual payments

Reuters

(Reuters) - FleetCor Technologies Inc said it would buy payments processing company Comdata Inc from Ceridian LLC for $3.45 billion in its biggest deal as it looks to expand into the virtual payments market.

Comdata, which was acquired by payroll and employee benefits processing company Ceridian in 1995 for $900 million, provides fleet fuel cards for the trucking industry, payroll cards and gift cards among other services.

Latin American telecom firm NII Holdings may seek bankruptcy

Responding to intense competition in Brazil and Mexico - its largest markets

Reuters

(Reuters) - Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico.

NII shares fell more than 50 percent in after-market trading to 30 U.S. cents, after ending regular trade at 66 cents on the Nasdaq.

T-Mobile deal collapse could spark telecom price war

Sprint invests $5 billion to transform its much maligned network by the end of next year

Reuters

WASHINGTON (Reuters) - Sprint Corp's <S.N> newly appointed Chief Executive Marcelo Claure has so far had a Midas touch in the telecoms industry, turning Brightstar, a reseller of U.S. handsets to Latin America, into a distributor valued at $2.2 billion when it was sold to Japan's SoftBank <9984.T>.

But his talents will now be put to the test like never before as he must complete the No. 3 carrier's network upgrade while trying to retain customers, who are defecting in droves.

Sprint drops bid to buy T-Mobile, changes CEO

Could give added impetus to a rival bid for T-Mobile by French telecoms firm Iliad

Reuters

(Reuters) - Sprint Corp S.N has dropped its bid to acquire No. 4 U.S. carrier T-Mobile U.S. Inc TMUS.N after regulatory resistance showed no signs of softening despite months of lobbying, people familiar with the matter told Reuters.

Sprint's shares plunged 19 percent to $5.90, while T-Mobile fell 10 percent to $30.38 on Wednesday.

The move is a rare setback for Sprint's Japanese parent, SoftBank Corp 9984.T, whose billionaire founder Masayoshi Son had seen the acquisition as key to taking on U.S. market leaders AT&T Inc T.N and Verizon Communications Inc VZ.N.

BlackBerry closes chapter on restructuring process: internal memo

CEO Chen says recovery is underway, confident company will be cash flow positive by end of year

Reuters

TORONTO (Reuters) - BlackBerry Ltd <BB.TO> has concluded a protracted and painful restructuring process and is back on a growth footing, according to an internal memo to all its employees viewed by Reuters.

"We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us," said the memo from BlackBerry's Chief Executive John Chen that was sent out on Friday.

Syndicate content