ZTE and LG line up for early LTE alliances
Published: 29 April, 2009
READ MORE: LG Electronics | ZTE | LTE
Continued ...
The cellco is looking to diversify its revenue streams, planning further investments in emerging markets abroad, but also expanding its operations at home It recently acquired a controlling stake in TV shopping company Oak Lawn Marketing for ¥31bn, to grow its e-commerce business. It is also cutting minimum data charges on some plans to just ¥490 to hold on to its customer base, which will drive down ARPU. The cellco said operating profit will be flat in this fiscal year at ¥830bn. Analysts polled by Bloomberg had expected ¥858bn. Net income is expected to rise slightly to ¥493bn but sales are likely to slip 1.5% to ¥4.38 trillion.
On the bright side, the company increased its subscriber base by 2.3% to 54.6m in the 2009 fiscal year ended March 29. For the full year, net profit fell 3.9% to ¥471.9bn on a 5.6% decline in sales to ¥4.4 trillion.
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More LG ELECTRONICS News
- LG ships record smartphone numbers in Q1 - Apr 24
- Palm's OS finds third owner at LG - Feb 27
More ZTE News
More LTE News
- Nvidia boosts modem to 150Mbps - May 23
- NSN throws new weapons at signal storm - May 23
- Sprint raises bid for Clearwire - May 22
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