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Softbank FY profit drops 27% on Brightstar writedown

2016-05-10 09:55:00| Telecompaper Headlines

(Telecompaper) Japanese operator Softbank reported net profit for the fiscal year to March 2016 down 26.9 percent to JPY 558.2 billion, hurt by writedowns of JPY 153.2 billion on its foreign investments, mainly mobile phone distributor Brightstar.. Revenues rose 7.6 percent to JPY 9.153 trillion, while operating income climbed 8.8 percent to JPY 999.4 billion.

Tags: profit drops softbank brightstar

Sony downgrades outlook on writedown of camera modules

2016-04-21 09:25:00| Telecompaper Headlines

(Telecompaper) Sony announced an impairment charge of JPY 59.6 billion on its camera module business, following a downgrade in the outlook for the business. The writedown of the camera activities represents a major setback for Sony, as this was expected to be a key growth area for the company going forward. Most likely the company is suffering from the overall slowdown in the smartphone market. Sony will take the charge in its results for the fiscal fourth quarter to March 2016. This leads to a drop in its operating profit forecast for the full fiscal year to JPY 290 billion from an outlook in January of JPY 320 billion. At the same time the company raised its annual revenue forecast to JPY 8.1 trillion from JPY 7.9 trillion and the net profit forecast to JPY 145 billion from JPY 140 billion, helped by a gain on the revaluation of tax assets in Japan.

Tags: camera sony modules outlook

Tele2 Q1 profit falls on Kazakhstan writedown

2016-04-21 08:09:00| Telecompaper Headlines

(Telecompaper) Tele2 reported a sharp fall in profit for the first quarter, hurt by its activities in Kazakhstan. Net profit fell to SEK 339 million from SEK 517 million a year ago, mainly due to a writedown of SEK 326 million on the goodwill for the Kazakh activities for the weak economic climate and currency devaluation there. Tele2 said it completed its joint venture with Kazakhtelecom in the quarter and integration has started. Customer and revenue growth is improving, and profits should hopefully follow, thanks to synergies from the joint venture and the withdrawal of unprofitable price plans, the company said. EBITDA was also lower, at SEK 1.226 billion versus SEK 1.428 billion a year ago, and the margin fell to 19 percent from 22. Tele2 blamed the decline on costs associated with its commercial ramp-up in the Netherlands following the 4G network launch, Sweden mobile marketing investments and the continued decline in its fixed operations. The company noted that since the launch in the Netherlands, it now offers 4G across its footprint.

Tags: falls profit kazakhstan tele2