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Huawei sees US ban costing around USD 30 bln in revenues this year
2019-06-17 09:31:00| Telecompaper Headlines
(Telecompaper) Huawei expects the US ban on doing business with the company could take around USD 30 billion off sales this year. CEO Ren Zhengfei said at a meeting at the company's headquarters in Shenzen that Huawei had been hit harder than expected by the US government actions and lowered the sales outlook for this year and next, Reuters reports.
Corning to lift dividends by 10%, distribute USD 8-10 bln to shareholders in 2020-2023
2019-06-14 15:42:00| Telecompaper Headlines
(Telecompaper) Corning has unveiled its Strategy and Capital Allocation Framework for 2020-2023, with new targets for the future. The latest framework follows the one from 2016-2019, which Corning said will be met. CEO Wendell Weeks explained that, by the end of the year, Corning have returned over USD 12.5 billion to shareholders, while investing USD 11 billion towards extending its leadership and delivering growth. For the years to 2023, the company intends to lift dividends per share by at least 10 percent per year and to buy back shares; it will distribute USD 8-10 billion to shareholders and put about 10-12 billion into RD&E (research and development and engineering), capital and mergers, plus acquisitions. The focus will still go towards organic growth.
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Broadcom lowers FY guidance by USD 2 bln on export restrictions
2019-06-14 09:51:00| Telecompaper Headlines
(Telecompaper) Broadcom reported higher revenues but lower profit in the second quarter, and reduced its full year revenue outlook by USD 2 billion on "anticipated headwinds from wireless." CEO Hock Tan said demand is down on the back of continued geopolitical uncertainties and the effects of export restrictions at one of the company's largest companies. During a call with analysts, Tan noted that 4.3 percent of Broadcom's revenues for its fiscal year to November came from Huawei, or about USD 900 million, the Wall Street Journal reported.
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German 5G auction ends with EUR 6.5 bln in total bids
2019-06-13 08:33:00| Telecompaper Headlines
(Telecompaper) The German Federal Network Agency said that the 5G auction has ended with EUR 6.5 billion offered in total by the four bidders, after 497 rounds of bidding.
5G adoption to rise to 1.9 bln by 2024, led by North America - Ericsson
2019-06-11 12:13:00| Telecompaper Headlines
(Telecompaper) Ericsson has again revised its forecast of global 5G adoption over the next 5 years and is now predicting some 1.9 billion subscriptions by 2024, up from 1.5 billion in its previous report. The company expects the technology to be available to more than 45 percent of the world's population in 5 years' time, a figure that could surge to 65 percent as spectrum sharing technology enables 5G deployments on LTE frequency bands.
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