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Sony targets annual opg profit over JPY 500 bln by 2018
2015-02-18 09:01:00| Telecompaper Headlines
(Telecompaper) Sony announced a new mid-term corporate plan focused more on profitability. For the three years to March 2018, the company will use return on equity as its main performance indicator, targeting a ROE of 10 percent. It also aims to raise operating profit to over JPY 500 billion by the fiscal year to March 2018, from an estimated 20 billion in the current year. At the operational level, the group will emphasize profitability over volume, and each business unit will have greater autonomy and a mandate to focus on shareholder value. Sony said its growth drivers will include the Devices division, and mainly its CMOS imaging sensors; the Playstation business; the Pictures division and especially the TV business; and the Music unit, which will focus more on the streaming market. The Imaging Products & Solutions and Video & Sound division are seen as more stable profit generators, rather than growth areas, and Sony will focus here on high value-added products. The remaining divisions, Mobile Communications and TV, are more volatile, subject to difficult market conditions. Sony said it will make restoring profitability the highest priority at these operations, while limiting capital investment in the activities. The company will also continue to explore potential alliances with other companies in these areas.
Tags: sony
annual
profit
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Telefonica takes EUR 2.84 bln hit due to bolivar devaluation
2015-02-17 08:43:00| Telecompaper Headlines
(Telecompaper) Telefonica has announced that it has cut the value of its net assets in Venezuela by EUR 2.84 billion following last week's effective devaluation of the bolivar of around 70 percent. In a statement to Spain's market regulator CNMV, Telefonica said its profits and balance sheet would be seriously hit by the Venezuelan government's decision to introduce a new free-floating exchange rate. At 31 December, Telefonica valued its assets and income from Venezuela at 50 bolivares to the dollar, using the Sicad 2 exchange rate system, down from 12 bolivares to the dollar previously. As a result of the write-down and the significant amounts of retained profits that Venezuela barred the company from expatriating to Spain, Telefonica said its full-year operating profit would fall by EUR 915 million and net profit by EUR 399 million, while net financial assets in Venezuela would be reduced by EUR 1.23 billion. Although the write-down leaves the company with cash valued at EUR 390 million in Venezuela, future plans to invest in the country wouldn't be affected, added Telefonica. However, the percentage of the company's total revenue coming from Venezuela has been reduced to around 1 percent, compared to 6 percent of Telefonica's total revenue in 2013. Telefonica is due to report its full-year results on 25 February.
Telstra net profit jumps 21.7% to AUD 2.1 bln in H1
2015-02-12 12:31:00| Telecompaper Headlines
(Telecompaper) Revenue from Australian operator Telstra's mobile business grew by 9.6 percent to AUD 5.3 billion for the six months ended 31 December 2014. Fixed data revenue increased by 7.8 percent, while fixed voice revenue fell 6.9 percent. Overall, revenue from Telstra's fixed business declined 1.7 percent, to AUD 3.5 billion in the 6-month period. Revenue from Telstra's Network Applications and Services (NAS) product line rose 18.1 percent to AUD 1 billion. International NAS revenues increased by 28.1 percent to AUD 41 million.
Sky, BT pay GBP 5.14 bln for Premier League live rights
2015-02-11 08:31:00| Telecompaper Headlines
(Telecompaper) The English Premier League has sold seven packages of live TV rights for 2016/17 to 2018/19 to Sky and BT for a total of GBP 5.14 billion. Sky has secured packages A, C, D, E and G totalling 126 matches and BT packages B and F for 42 matches. Sky will pay GBP 1.29 billion per season, an 83 percent rise on its current contract. Sky Sports will show more matches than before, at 126 games per season under the new deal, compared to 116 now, and Friday night matches for the first time. The games can be watched by subscribing to the channels or with weekly Now TV passes. BT Sport said it will show 42 live top-flight Saturday and midweek games, four more than at present. BT Sport show a live Saturday evening game every Premier League weekend. The operator said it will be paying GBP 320 million per season for the rights, compared to GBP 246 million under the current contract. This is the equivalent of GBP 7.6 million per game, up 18 percent on GBP 6.5 million now. BT's football content includes exclusive Champions League and Europa League games.
Qualcomm fined CNY 6.1 bln in China competition case
2015-02-09 22:26:00| Telecompaper Headlines
(Telecompaper) Qualcomm has agreed to pay a fine of CNY 6.088 billion (USD 975 million) in order to put an end to a competition investigation in China. The US-based company confirmed that it had reached a resolution with China's National Development and Reform Commission (NDRC) regarding the NDRC's investigation of Qualcomm under China's Anti-Monopoly Law (AML). Qualcomm will not appeal the decision that it violated the AML and agreed to pay the fine as well as implement changes in its business practices in China.
Tags: case
china
competition
fined
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