Info Tech
Ericsson looks to Europe and China for growth
STOCKHOLM – A completion of large projects in the United States weighed on Ericsson’s earnings in the fourth quarter, but the world’s biggest maker of mobile networks said demand was picking up in Europe and China.
Ericsson shares rose 3 percent as the company reported improving underlying profitability and looked ahead to strong investment this year in 4G LTE networks that can cope with increasing data traffic from smartphones and tablets.
The drive for faster networks is brightening prospects for an industry that has suffered a decade-long price war started by Chinese firms Huawei and ZTE.
Sweden’s Ericsson made a push for more business in Europe a couple of years ago that weighed on its results. But the projects it secured at the time are nearing completion and it is securing more lucrative business building network capacity.
Increasing the data power of existing networks using newer software tends to be more profitable than building radio masts and transmitters to extend geographical network coverage.
“We have gained market share (in Europe), which was the whole point and now we can upsell on that,” Chief Executive Hans Vestberg told a conference call.
“We have had some larger projects in the U.S. which are a little bit slower, as well as some coverage projects. On the other hand there are new markets coming up. China is coming up, Russia has (also) been.”
Ericsson shares, which have underperformed those of its sector peers in the past six months, were up 3.4 percent at 80 crowns at 1319 GMT.
The company has far to go to rediscover the profitability it once enjoyed. In 2005 and 2006, Ericsson’s operating margins were above 20 percent. In 2013, the margin was 6.2 percent.
“There is still margin rebuilding going on throughout 2014, so I think that is the main positive for the share,” said Exane BNP Paribas analyst Alexandre Peterc.
Peterc said he was unlikely to change his “outperform” rating and 95 crown price target for Ericsson stock.
OPERATING PROFIT MISSES FORECAST
Ericsson’s earnings before interest and tax jumped to 9.1 billion Swedish crowns ($1.4 billion) in the fourth quarter from 4.8 billion in the year-ago quarter, excluding the company’s joint ventures. The figure missed a mean forecast of 9.9 billion in a Reuters poll of analysts.
Its gross profit margin was 32.9 percent, excluding a patent deal with Samsung, against a mean analyst forecast of 32.7 percent and a margin of 32 percent in the third quarter. The increase in underlying profitability was due to a higher proportion of more lucrative contracts and the near-completion of low-margin European projects.
Ericsson’s Networks unit has gradually recovered from the global economic downturn. But the end of large projects in the United States and Japan hit revenue in the fourth quarter.
Networks sales fell 1 percent despite a boost from the patent deal with Korea’s Samsung.
The division’s operating margin was a worse than expected 9 percent, compared to 10 percent in the third quarter.
This year, the boundless appetite of smartphone users for faster data is likely to underpin the Networks business.
Vodafone, the world’s second-largest mobile operator and a big Ericsson client, has said it will spend 7 billion pounds ($11.6 billion) to boost coverage and accelerate its networks through March 2016.
Ericsson will also benefit from a massive rollout of 4G in China, but to a lesser extent than Huawei and ZTE. Total spending on 4G LTE networks in the country may reach $16 billion in 2014 [ID:nL3N0K61OP].
Fourth-quarter sales at Ericsson were 67.0 billion crowns, against a forecast of 69.3 billion. Sales and profits were boosted by a 4.2 billion crown patent deal with Samsung.
Ericsson proposed a dividend of 3.00 crowns per share, higher than the median forecast of 2.95 crowns per share.
– REUTERS
In efforts at spicing up the 2023 ITREALMS E-Waste Dialogue, the management of ITREALMS Media has partnered with E-waste Producer Responsibility Organization of Nigeria (EPRON) membership organisations for a day-long collection scheme of small electronic waste on Friday, December 15, 2023.
The EPRON members aligning their partnership with 2023 ITREALMS E-Waste Dialogue are EL-AS Tech Enterprises Limited and WEEE Eco-Friendly.
ITREALMS’ day-long collection scheme is part of the commemoration of 2023 international E-Waste Day (IEWD) within the ITREALMS E-Waste Dialogue with the theme “You Can Recycle Anything with a plug, battery or cable” at Welcome Centre Hotels, International Airport Road, Lagos.
Revealing this collaboration, the Group Executive Editor, ITREALMS Media, the organisers of the 2023 ITREALMS E-Waste Dialogue, Sir. Remmy Nweke, urged mobile device enthusiasts to come along with their devices that have reached their end-of-life to the venue for proper disposition by professionals who would also be on grounds to address some topical issues.
The collection of small electronic wastes especially mobile phones and like-devices, would be carried out by EPRON member organisation, EL-AS Tech Enterprises Limited as facilitated by ITREALMS Media group as part of this year’s ITREALMS E-Waste Dialogue on Friday, December 15, he added.
He disclosed that the exercise would commence at Welcome Centre Hotel by 9am till close of work hours the same day.
Nweke pointed out that the collection of small e-waste items would include mobile phones, pointers mouse, earpieces, rechargeable torches, phone chargers, to name a few.
Further, he said, that this initiative has become time-serving because some people may have missed any other opportunity before now for the year-long campaign, hence this awareness on e-Waste has to be continuous, “ITREALMS came up with this scheme.”
Nweke beckoned on Nigerians, especially mobile phone users, to leverage the opportunity in disposing of their mobile devices they no longer use, of course in exchange for a voucher or gift item.
In her reaction to this year’s day-long small waste collection, EPRON Executive Secretary, Mrs. Ibukun Faluyi, described the initiative as commendable, expressing confidence it would intensify the collection of end-of-life devices for proper disposition.
Mrs. Faluyi, also urged Nigerians to take advantage of this day-long collection of small wastes courtesy of ITREALMS Media.
Recalling for instance that in October 2022, EPRON had partnered SLOT alongside some UN agencies for collection of small e-waste items in Lagos, including the United Nations Information Centres (UNIC), United Nations Industrial Development Organization (UNIDO), International Labour Organisation (ILO), Lagos Waste Management Authority (LAWMA) and Lagos State Environmental Protection Agency (LASEPA).
This is even as the Executive Vice Chairman of the Nigerian Communications Commission (NCC) Dr. Aminu Maida and Director-General, National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Aliyu Jauro, would both lead speakers at the 2023 ITREALMS E-Waste Dialogue slated for this Friday, December 15, in Lagos.
Today, September 12, the tech corporation Apple will introduce the iPhone 15, their newest iPhone model.
According to a Forbes story, this model, which will be introduced at the company’s “Wanderlust” event in Cupertino, California, will be available in four variations: the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max.
Here are five things you should know about the new iPhone 15 model.
1. The new model is made of titaniu, not stainless steel as some other Apple smartphone models, Senior research analyst at DIGITIMES, Luke Lin reports.
2. The Pro Max model will feature double the optical zoom on the iPhone 14 as it comes with a newly-introduced ‘periscope lens upgrade, performing 5-6x optical zoom.’
3. The Pro models will carry an A17 bionic chip expected to make it perform faster.
4. The iPhone 15 model will feature a USB-C charging port, the same port featured on some Android phone models.
5. Due to its titanium shell, the new model is anticipated to be more expensive to purchase. The following is the speculated price list, as reported by Forbes:
The iPhone 15 starts at $799, the iPhone 15 Plus at $899, the iPhone 15 Pro at $1,099 ($100 increase), and the iPhone 15 Pro Max at $1,299 ($200 increase).
In an effort to reduce the exorbitant cost of Premium Motor Spirit, better known as petrol, the Infrastructure Bank Plc announced its collaboration with FEMADEC Group on Monday to offer 500 buses powered by autogas (Compressed Natural Gas).
Partners in the agreement claimed that the project was created to provide citizens with dependable, affordable, and environmentally friendly travel options, taking into account the negative effects of the nationwide increase in PMS costs.
Under Decree No. 51 of the Federal Republic of Nigeria’s 1992 Constitution, the Infrastructure Bank, originally known as the Urban Development Bank of Nigeria Plc, was founded in 1992 to promote the quick development of infrastructure throughout the nation.
In a statement issued in Abuja on its partnership with FEMADEC, the bank said, “The preliminary offer extended by TIB lays a solid foundation for the expansion of FEMADEC Group’s CNG bus fleet.
“With plans to introduce 500 CNG buses within the next five years, commencing with an initial batch of 50 buses in the forthcoming year, this proposal stands poised to instigate significant change.
“The acceptance of this proposition by FEMADEC Group, notably championed by Fola Akinnola, the Group Chief Executive Officer, is a testament to their zeal and dedication to this alliance.”
The bank described the partnership as a “pivotal endeavour that is primed to redefine Nigeria’s public transportation landscape, offering dependable, cost-effective, and ecologically conscious travel alternatives for citizens, while harmonising with the nation’s broader sustainability ambitions.”
“This partnership represents a remarkable stride towards a more ecologically aware future for Nigeria’s transportation sector, highlighting the shared commitment of both TIB and FEMADEC Group to sustainable advancement and progress.”
It said FEMADEC Group’s strides in operating Compressed Natural Gas buses, including the existing fleet of 20 CNG buses under LAMATA, underscored their unwavering dedication to ecologically sound solutions, a commitment predating the fuel subsidy removal.
“Their leadership within the CNG value chain is undeniable, and the new alliance with TIB underscores their foresight.
“This partnership seamlessly aligns with TIB’s sustainability objectives, echoing their resolute endorsement of the government’s net-zero and climate change agenda.
“The bank’s aspiration to champion Nigeria’s infrastructure progress is evident in its endorsement of pivotal initiatives like this, yielding expansive positive impacts on both the environment and society,” the bank stated.
The bank added that it would continue to make a significant contribution to the country’s growth as a leading financial institution committed to advancing effective and long-lasting infrastructure projects.
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