Microsoft to acquire Nokia's Devices & Services business
Microsoft Corporation and Nokia Corporation announced that the Boards of Directors for both companies have decided to enter into a transaction whereby Microsoft will purchase substantially all of Nokia's Devices & Services business, license Nokia's patents, and license and use Nokia's mapping services.
Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia's Devices & Services business, and EUR 1.65 billion to license Nokia's patents, for a total transaction price of EUR 5.44 billion in cash. Microsoft will draw upon its overseas cash resources to fund the transaction. The transaction is expected to close in the first quarter of 2014, subject to approval by Nokia's shareholders, regulatory approvals and other closing conditions.
Building on the partnership with Nokia announced in February 2011 and the increasing success of Nokia's Lumia smartphones, Microsoft aims to accelerate the growth of its share and profit in mobile devices through faster innovation, increased synergies, and unified branding and marketing. For Nokia, this transaction is expected to be significantly accretive to earnings, strengthen its financial position, and provide a solid basis for future investment in its continuing businesses. Read more
No intention to buy back Vodafone stake: Sunil Mittal
Bharti group Chairman Sunil Mittal reportedly said that he has no intention of buying back around 4% stake. "We have no intention (to do that)," Mittal reportedly said after the company's Annual General Meeting. Vodafone said it holds 4.4% stake indirectly in Bharti. Media report said that Vodafone will have to sell its entire stake in Airtel following new norms issued by government.
Online user visits to check mobile devices rise 173%: IAMAI
The surge in interest of mobile devices and smart phones can be gauged from the latest Internet Economy Watch, published jointly by the Internet and Mobile Association of India (IAMAI) and IMRB. The segment has witnessed 173% y-o-y growth in July 2013 with 12.70 million hits in July 2013 as compared to 4.66 million hits in the corresponding month last year.
The branded apparel segment witnessed 9.95 million hits in July 2013 as compared to 5.29 million hits in July 2012, a y-o-y increase of 88%. The online user visits to designer footwear segment increased from 2.04 million hits in July 2012 to 2.21 million hits in July 2013. A significant increase y-o-y growth of 107% for jewellery segment has been registered with 3.65 million hits in July 2013 as compared to 1.76 million hits in July 2012.
As per the data for July, while the online booking of air tickets decreased from 1.95 million hits in July 2012 to 1.84 million in July 2013, there has been a marginal increase in online booking of railway tickets from 6.53 million in July 2012 to 6.70 million in July 2013.
The number of resume uploads in July 2013 were 3.12 million as compared to 2.60 million in corresponding month last year. The profile uploads on matrimonial websites was 1.91 million in July 2013 as compared to 1.67 million in July 2012, a y-o-y growth of 14%.Read more
RCOM appoints Deepak Khanna as CEO India Enterprise Business
Reliance Communications Ltd., India's leading provider of telecommunications services for business enterprises, today announced the appointment of Deepak Khanna as CEO, India Enterprise.Deepak, a MBA from the Symbiosis Institute of Management Studies, Pune, has rich and varied experience of 25 years, of which the last 15 years have been in the telecom sector. Prior to joining Reliance Communications, Deepak has worked in leadership roles with Bharti Airtel and Tulip Telecom in this space.
Assuming his new responsibilities at the RCOM campus in Navi Mumbai, Deepak said,"Reliance is ideally positioned in the enterprises domain, already serving over 45,000 large,medium and small enterprises, including nearly 850 of the top 1,000 corporates in India.We are committed to enhancing our market leadership, working as strategic partners with our valued enterprise customers, delivering a suite of world class products accompanied by flawless execution.We see exciting growth potential in the enterprise business in the years ahead, and expect to register 30% per annum compounded growth in this space in both, revenues and profitability over the next 5 years."
Bharti Airtel in race to acquire Loop Mobile
Bharti Airtel is in race to acquire Loop Mobile, according to media reports. Media report said that the talks may be going for some time and the final deal is dependent on clarity on guidelines governing mergers and acquisitions in the telecom sector. Loop, the fourth-largest operator in Mumbai, started operations in 1995 as BPL Mobile and has over 3 million customers as per July subscriber numbers.
The acquisition of Loop will help Airtel become the leader in Mumbai in terms of number of subscribers, thus propelling it to the top slot in the key metros of Delhi and Mumbai.
RCOM plans to increase imput costs to customers
President & CEO, RCOM's wireless business said "Reliance Communications is planning to pass on any increase in input costs due to the weakening rupee. "The phase of hyper competitiveness is over. Further price hikes cannot be ruled out," Gurdeep Singh said. RCOM is in talks to sell stakes in whollyowned wholesale telecommunications unit Reliance Globalcom BV.
Vodafone tie-up with Rockstand
Vodafone, one of India’s leading telecommunications services provider, today announced its tie-up with Rockstand, India’s leading eBook and eMagazine application. This tie-up heralds a new chapter in the Digital Reading industry of the country. With this development, Rockstand has become first eBook & eMagazine application that would include hassle free payment through Vodafone and thus reaching out to millions of users across the country.
Sharing his delight on the association, Praveen Rajpal, CEO, Rockstand Digital Pvt. Ltd, said, “Rockstand’s tie-up with Vodafone will further strengthen our relationship with them as well as with our users. We are receiving wonderful reviews for our application and recently we have crossed a mark of 50,000 downloads, which shows the growing popularity of Digital reading in India. With Vodafone support, we will be reaching to urban as well as rural areas of the country on a strong network. We are sure this association will bear rich dividends for both Vodafone & Rockstand” . Read more
Affle Group launches M2X a US$3.3mn fund
Affle Group, a leading smart media company, announced the launch of M2X, a US$3.3 million (Rs. 20 Crore) fund, in association with the Mobile Marketing Association (MMA). M2X or Mobile 2x is set up to enable brands, publishers, agencies, app developers and entrepreneurs to create mobile assets, increase mobile ad spends and promote development of innovative technologies in emerging mobile markets with particular focus on India, Indonesia, Vietnam, Thailand, Malaysia, Philippines and Singapore. This was announced at the Mobile Marketing Association Forum India which is underway in New Delhi.
M2X is an industry-first effort, spearheaded by Affle Group with support of MMA, to fuel the growth of the mobile marketing ecosystem in emerging markets. Qualifying companies will be able to submit their applications to M2X to gain access to funds under two broad categories: (1) dollar-for-dollar co-investment with advertisers, agencies and publishers for mobile asset creation and advertising campaigns that use mobile as a medium with Affle; and (2) investment in start-ups or existing companies that are investing into technology innovation and IP creation in the field of mobile advertising. Early applications from MMA members are open and all other interested companies can apply from October 1st, 2013.Read more
Tata DOCOMO launches exciting prepay offer
HTC and Tata DOCOMO sign strategic partnership
Intex unveils Aqua i7 elite FHD smartphone at Rs. 21,900
Verizon to buy Vodafone's 45% stake in Verizon Wireless
Verizon Communications Inc announced that it has entered into a definitive agreement with Vodafone Group Plc to acquire Vodafone’s U.S. group with the principal asset of 45 percent of Verizon Wireless for $130 billion, consisting primarily of cash and stock. Verizon expects the transaction at close to be immediately accretive to the company’s EPS (earnings per share) by approximately 10 percent, without any one-time adjustments.
The transaction was unanimously approved by the boards of directors of Verizon and Vodafone, and is subject to customary closing conditions, including regulatory approvals and the approval of both companies’ shareholders. The transaction is expected to close in the first quarter of 2014.
The transaction would provide Verizon with 100 percent ownership of the industry-leading wireless carrier in the United States. As a wholly owned entity, Verizon Wireless will be better equipped to take advantage of the changing competitive dynamics in the market and capitalize on the continuing evolution of consumer demand for wireless, video and broadband services.Read more
Ericsson to build three global ICT Centers
Ericsson is planning to invest approximately SEK 7 billion the coming five years to build three global ICT Centers. Two will be located in Sweden, in Stockholm and Linköping, while the third one, in North America, will be located in Canada, in Montreal, Quebec.
The centers will be located close to Ericsson's main R&D hubs and will be the new platform for more than 24,000 Ericsson R&D engineers around the world, supporting their lean and agile ways of working. Team of experts will be able to collaborate beyond borders more easily and efficiently. Ericsson's customers will also be able to connect remotely for interoperability testing, trials and will have early access to innovation on new business services in real-time from the comfort of their locations. Read more
Moody's: Axiata's results benefit from domestic growth
Moody's Investors Service notes that Axiata Group Berhad's 1H 2013 results were positively affected by strong growth in data demand at Celcom Axiata Berhad (unrated) in Malaysia,which accounted for around 44% of the Group's 1H 2013 revenue. Overall results are broadly in line with Moody's expectations and support Axiata's current Baa2 rating and stable outlook.
Revenue for 1H 2013 grew by 5.2% year-on-year, largely on revenue growth driven by data demand at Celcom, which accounted for around 44% of the Group's 1H 2013 revenue.
Higher revenue from the mobile segment at Robi Axiata Limited (unrated) in Bangladesh and Dialog Axiata PLC (unrated) in Sri Lanka also contributed to overall revenue growth.
Revenue from PT XL Axiata Tbk (Ba1/stable), the second largest contributor to the Group's revenue (36%), declined 4.7% YoY due largely to the weakening of the Indonesia rupiah against the Malaysian ringgit. In the absence of this foreign currency impact, XL's YoY revenue increased 1%, supported by growth from the data segment.