Ooredoo Myanmar’s former COO, Vikram Sinha, has taken on the role of interim chief executive officer, after former chief Rene Meza resigned. The news comes after Ooredoo Myanmar posted disappointing Q1 results for 2017 with revenues down 13 percent.
Japanese conglomerate Toshiba is set to end its long-running feud with Western Digital – following its confirmation that it is set to enter talks with the US firm over the sale of its prized memory chip business. It has been reported that discussions between both entities had only reopened because negotiations with Toshiba’s preferred bidder had stalled.
South Korean conglomerate Samsung has been rocked following the decision by Seoul Central District Court to sentence its leader to five years in jail for bribery. Billionaire, Jay Y. Lee, was the head of Samsung Group but his career is now in turmoil as it faces up to the prospect of spending the next five years in prison.
China, according to state media, has launched a digital “cyber-court” in an effort to deal with rising internet-related crimes. The first case – a copyright dispute between an online writer and a web company – was heard on August 18, at the new Hangzhou Internet Court.
Chinese firm DPVR overtook HTC as the top virtual reality (VR) headset vendor in China in Q2 2017, according to Canalys research, shipping 18,000 headsets, resulting in a 30 percent quarter-on-quarter increase. HTC, whose only product is the HTC Vive basic headset, suffered a 6 percent sequential decline, shipping 14,000 units.
Chinese telecommunications conglomerate ZTE has increased its market share in the US smartphone industry. Analysts have suggested that its success is down to a combination of aggressive marketing and its manufacturing of cheap and affordable devices.
Chinese telecommunications colossus ZTE has attributed its first-half net profit success to its investment in 4G infrastructure and handsets. The world’s fourth-largest vendor of smartphones has hit its projected first-half net profit target forecast of 30%.
Telstra, Australia’s largest telecommunications company, saw its shares dive to a five-year low on August 17 after announcing it will reduce its dividend this financial year. The operator reported a 1 percent lift in its full year profits amidst tough competition, but attention quickly centered on the announced cut to its dividend from next year.
Chinese mobile and fixed-line operator China Telecom posted positive interim results for 2017, with net profit increasing 7.4 percent to 12.54 billion yuan ($1.88 billion), compared with a net profit of 11.67 billion the previous year. But the company said it won’t pay an interim dividend this year to allow for funding flexibility.
Spark, New Zealand’s leading telecom operator, reported an overall net earnings increase of 13 percent to $418 million, Spark Chairman Mark Verbiest announced on August 18. The results for the year ended 30 June 2017 were in line with expectations and mark further progress in Spark’s long-term digital transformation.