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Samsung confirms sharp drop in Q3 profit
2014-10-30 08:21:00| Telecompaper Headlines
(Telecompaper) Samsung Electronics confirmed a drop in third-quarter sales to KRW 47.45 trillion from KRW 59.08 trillion a year ago. Operating profit more than halved to KRW 4.06 trillion, and net profit fell to KRW 4.22 trillion from KRW 8.24 trillion in the same period of 2013. As warned earlier by the company, the weak results were due mainly to competitive pressure on its mobile phones business. The mobile division recorded sales of KRW 24.58 trillion, down from KRW 36.57 trillion a year ago and 14 percent less than in the second quarter. Operating profit from the activities plunged to KRW 1.75 trillion from KRW 6.70 trillion in Q3 2013. Samsung said smartphone shipments were up "slightly", mainly in the low-end and mid-range segment, leading to a lower average selling price and pressure on margins. The Galaxy Note 4 launched at the end of the quarter only had a marginal impact on sales. The tablet market remained highly seasonal, with the new Tab S helping grow shipments. Samsung said it expects seasonal market growth in Q4, but competition and price pressure will intensify as a large number of new models come out. At Samsung's other activities, semiconductors was the only one to show revenue growth in the quarter, led by solid memory demand from the PC and phone markets. The TV market was weaker after the run-up to the World Cup, and the display business saw a slowdown in the OLED market.
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samsung
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Mayor calls Staten Island's top cop Delatorre an 'outstanding police leader,' confirms probe into ticket-fix allegation
2014-10-30 00:44:22| Auto Parts - Topix.net
The mayor on Wednesday hailed the borough's top cop, Asst. Chief Edward Delatorre, as an "outstanding police leader," but confirmed that the NYPD has opened a probe into reports he ordered his officers to fix a headlight for the mom of police chokehold victim Eric Garner.
Lloyds Bank confirms 9,000 job losses
2014-10-28 09:25:42| BBC News | Business | UK Edition
Lloyds Bank confirms 9,000 job losses and the closure of 150 branches over the next three years.
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bank
losses
confirms
Fitesa confirms expansion details
2014-10-28 06:00:00| Nonwovens Industry Breaking News
New capacity coming onstream in Brazil, Peru, the U.S., Sweden and China
Tags: details
expansion
confirms
expansion details
Telekom Austria confirms plans for capital increase
2014-10-23 08:56:00| Telecompaper Headlines
(Telecompaper) Telekom Austria has confirmed plans to hold a capital increase by the end of the year. The operator received approval from shareholders in August to raise up to EUR 1 billion in a share sale. Further details of the offering will be announced later. Telekom Austria confirmed the news alongside its third-quarter results, which showed continued pressure from the weak economy and regulation in central and eastern Europe. Revenues showed an improvement, rising 1.2 percent year-on-year to EUR 1.05 billion in Q3, thanks to growth in Belarus and Croatia and a smaller decline in Austria. Cost reductions in its home market helped adjusted EBITDA rise 15.8 percent to EUR 415 million, and net profit more than doubled to EUR 123 million from EUR 51 million a year ago. Profit benefited from lower restructuring charges as well as a one-time gain of EUR 26.8 million from the merger of Mobilkom liechtenstein with Telecom Liechtenstein. Telekom Austria said it will continue to focus on cost control and convergence to drive revenue growth. It maintained its outlook for an around 3.5 percent fall in revenue this year. Capital expenditure is expected at EUR 650-700 million, after EUR 473 million in the first nine months, and the group will pay a dividend of EUR 0.05 per share.
Tags: increase
capital
plans
austria
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