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FIH Mobile warns for over 50% drop in FY profit
2016-10-04 14:41:00| Telecompaper Headlines
(Telecompaper) FIH Mobile has warned that its annual net profit this year will be over 50 percent lower than in 2015, due to "customer transitions". The company expects a profit of less than USD 110 million in 2016, meaning a drop of at least 52 percent from last year's USD 228.7 million. Revenue is expected to be less than USD 5.7 billion compared to USD 7.5 billion in 2015. FIH said it has seen some improvement in results in the second half of the year, and H2 profit should be higher than the USD 20.8 million for the first six months of 2016.
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Category:Telecommunications