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Liberty Global grows Q2 revenues 2.7%, OCF 3.3%, driven by UK operations

2018-08-09 07:54:00| Telecompaper Headlines

(Telecompaper) Liberty Global reported second-quarter revenues from continuing operations up 2.7 percent on an organic basis to USD 3.045 billion, as a strong performance at Virgin Media in the UK offset weaker results in Belgium and Switzerland. The figure excludes its German operation Unitymedia and activities in East Europe being sold to Vodafone. Including those operations, revenues rose 3.1 percent, slightly less than Q1. 

Tags: uk global operations driven


Magic Leap starts sales of first mixed reality set

2018-08-08 18:55:00| Telecompaper Headlines

(Telecompaper) The mixed reality start-up Magic Leap has started shipping its first product. The Magic Leap One Creators Edition is available in selected parts of the US starting at USD 2,295 and includes the Lightwear headset, Lightpack computing pack and Control handheld input device.

Tags: set sales magic reality


NetOne suspends CEO over decision not to renew managers' contracts

2018-08-08 10:01:00| Telecompaper Headlines

(Telecompaper) Zimbabwean operator NetOne's board has suspended CEO Lazarus Muchenje with immediate effect over alleged gross misconduct relating to the manner he handled expired contracts for nine senior managers, reports The Herald. This relates to his decision not to renew contracts for nine senior members of management after their expiry, a decision the board of directors claims was taken irregularly and without their knowledge. 

Tags: decision managers ceo contracts


MTN Group H1 revenue rises 10% to ZAR 506 bln

2018-08-08 09:38:00| Telecompaper Headlines

(Telecompaper) MTN Group revenue increased by 9.7 percent to ZAR 505.67 billion in the first six months to 30 June from ZAR 432.28 billion in the same period in 2017. Service revenue increased by 10.2 percent, supported by growth in MTN Nigeria (up 17.0%), MTN Ghana (up 27.9%), MTN South Africa (up 2.9%) and MTN Uganda (up 8.8%). MTN Cameroon and MTN Ivory Coast reported 7.0 percent and 6.6 percent declines in service revenue respectively. Net profit increased to ZAR 73.39 billion from ZAR 40.64 billion in 2017. 

Tags: group revenue rises zar


Samsung announces KRW 25 trillion investment plan to boost growth businesses

2018-08-08 09:28:00| Telecompaper Headlines

(Telecompaper) Samsung announced plans to boost investments in businesses expected to drive its future growth. The company will spend KRW 25 trillion (EUR 19.2 billion) over the next three years, primarily led by Samsung Electronics, in the areas of artificial intelligence, 5G, automotive electronics components and biopharmaceuticals. In addition, the company will expand its venture capital investments to identify promising new businesses and technology. 

Tags: plan growth investment businesses


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