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VC Funding in Smart Grid Remains Lackluster in Q2 2013

2013-07-24 20:08:00| Transmission & Distribution World

Mercom Capital Group has released its report on funding and mergers and acquisitions (M&A) activity for the smart grid sector during the second quarter of 2013. read more

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LG ships record 12.1 mln smartphones in Q2

2013-07-24 08:59:00| Telecompaper Headlines

(Telecompaper) LG Electronics reported a 10 percent rise in sales in the second quarter, led by strong shipments of its mobile phones. Revenues were up 10.1 percent year-on-year to KRW 15.23 trillion (USD 13.58 billion), and the mobile division grew sales 34.5 percent to KRW 3.12 trillion. LG shipped a record 12.1 million smartphones in the quarter, more than double the year earlier and up 17 percent from Q1 and also reported increased sales of mass market devices, including its L and F series phones. Operating profit at the mobile division improved to KRW 61 billion from a loss of KRW 28 billion a year ago, but was down versus Q1 on weaker demand in Korea and lower average selling prices due to competition and higher marketing costs. Group operating profit fell to KRW 479 billion from KRW 527 billion a year earlier due to the weak TV market. Net profit fell to KRW 156 billion from KRW 169 billion, but was up compared to Q1. For the current quarter, LG said it expects continued growth from mass-market and LTE phones, while its new high-end devices such as the G Pro and G2 should strengthen its position in the premium segment.

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LG ships record 12 million smartphones during Q2

2013-07-24 07:51:13| CNET News.com

South Korea electronics company reports $13.6 billion in revenue, a 10 percent increase year-over-year, on strong sales in its mobile, entertainment, and home appliance units. [Read more]    

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Inter Parfums Posts 17% Rise in Q2 Sales

2013-07-24 07:00:00| Happi Breaking News

Also raises annual guidance to $525 million.

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Telenor organic sales growth improves to 2% in Q2

2013-07-23 09:52:00| Telecompaper Headlines

(Telecompaper) Telenor has maintained its outlook and announced a share buyback, after reporting improved organic sales growth and margins in the second quarter. After flat sales in Q1 on an organic basis, growth improved to 2 percent in Q2, allowing the operator to maintain its guidance for 2-4 percent organic revenue growth this year. Sales totaled NOK 25.75 billion, and adjusted EBITDA improved to NOK 8.86 billion from NOK 8.06 billion a year earlier, helped by reduced losses in India and growth in Thailand, Sweden and Norway. The EBITDA margin rose to 34.4 percent from 31.8 percent, and Telenor expects a result around 34 percent for the full year. Telenor's net profit jumped to NOK 3.25 billion from NOK 2.07 billion a year ago, thanks to improved results from its stake in Vimpelcom. Telenor increased capex to NOK 3.48 billion from NOK 2.96 billion, while operating cash flow was also higher, at NOK 5.37 billion versus NOK 5.1.6 billion a year ago. The company will buy back up to 1 percent of its outstanding shares under the new buyback programme running until its AGM next year. The group maintained its guidance for annual capex at 12-14 percent of revenues this year, excluding licence and spectrum costs.

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