On May 15, 2017, Ericsson signed an MoU with China Mobile’s Government and Enterprise Customers Branch and Mobike for a smart travel partnership under the “Belt and Road” framework. The partnership is a response to the government’s call for green travel and the “Belt and Road” initiative which aims to improve the overall service level of smart travel and drive the global collaboration and development of the bicycle-sharing industry.
Telecom Review Asia Pacific - Telecom Industry News
LG Electronics Inc. (LG) announced first-quarter 2017 revenue of KRW 14.66 trillion (USD 12.70 billion), an increase of 9.7 percent from the same period last year. LG nearly doubled its operating income to KRW 921.5 billion (USD 798.3 million) with the Home Appliance & Air Solutions Company posting its highest quarterly operating income in eight years.
Chinese e-commerce colossus Alibaba has revealed that it has almost doubled its net profit due to phenomenal growth in online shopping following the disclosure of its quarterly figures.
Japanese conglomerate Toshiba Corp have become embroiled in a row with US firm Western Digital Corp over the sale of its prized and highly sought-after chip unit. Toshiba has instructed them in no uncertain terms to not interfere with how it proceeds with the sale. It has refuted claims made by Western Digital Corp that they breached a joint-venture contract.
Japanese telecommunications firm SoftBank in conjunction with its Saudi partners has announced that it has raised almost $100bn in pledges as part of its ongoing efforts to launch a major global fund for long-term, high-tech investments.
Japan’s NTT DoCoMo announced its new medium-term strategy for implementation through the 2020 fiscal year, effective immediately. The plan focuses on six declarations that DoCoMo will act upon to realize a more innovative business structure in the coming era of 5G.
The escalating row between Japanese conglomerate Toshiba Corp and Western Digital Corp over the sale of its highly sought-after chip unit - has prompted the Japanese government to comment on the dispute. Japan’s government has expressed concern over the row and has called on both parties to cooperate.
Chinese President Xi Jinping plans to tighten the country’s internet regulations with a pledge on May 7 to increase controls over search engines and online news portals, CNBC reported. The increased security implementations are the latest in President Jinping’s attempts to oversee strict Communist Party control over internet content in China.
British telecommunications giant Vodafone reported on Tuesday, May 16, an annual net loss of 6.3 billion euros ($6.9 billion) after slashing the value of its troubled Indian division.
Japanese conglomerate SoftBank is set to shake up the Indian e-commerce industry as speculation increases that it wants to become a consolidator and engage in a more active role at a trio of leading start-ups. SoftBank has already flexed its financial muscles in the Indian e-commerce market, with the firm already investing around $2 billion in a number of e-commerce businesses over the last number of years.