Publicly listed cellphone distributor and retailer Erajaya Swasembada is upbeat on achieving its sales target of IDR15 trillion (USD1.05 billion) this year, backed by a wave of budget smartphones from Taiwan and China pouring into Southeast Asia's largest economy.
Lenovo will be in a "very different" situation in terms of profit in the coming quarters as the Chinese technology giant implements a turnaround strategy amid a slowing PC sector and market turmoil in developing countries, the company's president said.
The world's number one PC maker saw profits plunge 51 percent year-over-year to USD105 million in the first fiscal quarter, a fall it attributes to "severe challenges" in key markets such as China and Brazil.
Publicly-listed Erajaya Swasembada, a handset manufacturer, distributor and retail provider, opened doors on its biggest flagship store the southern outskirts of Jakarta on Thursday banking on the resilient purchasing power of Indonesian consumers.
Operating under the company's subsidiary Erafone Artha Retailindo, the Erafone Megastore Margo City in Depok covers a 600-square-meter area and offers over 14 brands of smartphones and tablets, according to a statement received by the Jakarta Globe on Friday.
After posting double digit profit growth for a second year in a row, veteran retailer Gerry Harvey has left the door open for further capital return to shareholders via handing back some of the retailer's AUD585 million (USD417.2m) in franking credits.
Harvey Norman, the nation's largest white goods and homewares retailer, gave shareholders a final payout of 11¢ a share on Friday, well ahead of expectations of 9¢, after lifting net profit by 26.6 percent to AUD268.1 million. Mr Harvey said there may be more to come.
The once-hot smartphone market in China is expected to cool this year, growing a meager 1.2 percent, according to a report released on Tuesday.
The China smartphone market grew 19.7 percent last year and accounted for nearly a third of all new handsets shipped, according to the International Data Corporation's Worldwide Quarterly Mobile Phone Tracker report.
Samsung is offering users of rival Apple's iPhone the chance to try out one of its latest flagship phones for just USD1 in a bid to lure customers away from Apple's device.
The South Korean electronics giant is billing the promotion as the "ultimate test drive" and it allows US customers to trial the dual-curved screen Galaxy S6 Edge, S6 Edge Plus and the Note 5 for with full cellular service for 30 days.
An activated SIM card with a voice and data plan hosted by a user's current carrier is included in the trial.
While consumers are becoming more concerned about their financial circumstances and spending outlook, phone retailers in Indonesia are still optimistic that their sales will improve in the second half of this year.
Hasan Aula, the CEO of phone retailer Erajaya Swasembada, said that he was optimistic that sales of gadgets would still grow as the decline in sales of certain phone products would usually be offset by rising sales in lower-price segments.
Shares in former Woolworths subsidiary Dick Smith have fallen more than 8 percent after the company pulled back on generous discounts on Apple products and missed out on the Federal Government's small business stimulus spending, leading to weaker than expected same-store sales growth in 2015.
Dick Smith delivered its third consecutive year of sales and earnings growth under new management, reporting a 3.1 percent increase in underlying net profit to AUD43.4 million (USD31.8m) in 2015 as solid growth in Australia offset a slump in New Zealand amid patchy consumer demand.
Thailand's branded-smartphone market has slowed to single-digit growth for the first time in four years due to unfavourable economic conditions and a saturated market, says Thai Samsung Electronics Co.
House-brand handsets have also eaten into branded smartphones' market share.
Samsung Electronics unveiled on Thursday a new Galaxy Note phablet and a larger version of its curved-screen S6 edge smartphone, marking a fresh bid by the South Korean tech giant to revive momentum in its handset business.
Samsung is the world's top smartphone maker but its market share fell in the second quarter when its critically acclaimed S6 models launched, squeezed by Apple's iPhones and price-competitive offerings from Chinese rivals such as Huawei Technologies.