China's Lenovo Group will lay off 10 percent of white-collar staff after sales of Motorola handsets fell by a third, raising doubts over the personal computer giant’s bet that a money-losing brand it bought for nearly USD3 billion will help it become a global smartphone leader.
Within the next two years, India will have overtaken the USA as the world's second-largest smartphone market.
However, at the moment that growth is still being driven by affordable handsets and consumers finally ditching their feature phones for something with internet access, rather than by the online economy or connected lifestyles.
A 60 percent plunge in HTC Corp.'s stock this year has pushed its market value to below its cash on hand. That means investors are effectively saying the smartphone maker's brand, factories and buildings are worthless.
At TWD47 billion (USD1.47b), HTC's market price is below the TWD47.2 billion cash it had at the end of June. A drop of as much as 9.8 percent in its stock Monday signals investors put no value on the rest of the company.
JB Hi-Fi expects sales growth to accelerate in 2016 as the consumer electronics retailer capitalises on the small business stimulus package and buoyant housing market by adding small appliances to existing stores.
Treasurer Joe Hockey's small business stimulus package helped retailer JB Hi-Fi rack up its strongest like-for-like sales growth in four years, driven by businesses buying computers, printers and mobile phones to take advantage of investment write-offs before the end of the financial year.
After dipping for two quarters, Xiaomi reclaimed its spot as the top smartphone maker in China during the second quarter, beating Apple and Huawei, an analyst firm said on Monday.
Based in Beijing, China, Xiaomi grabbed 15.9 percent of the country's mobile market share, according to research firm Canalys' estimates.
Xiaomi can bask in the glow of victory for now, but it's under immense pressure to maintain its top position in the quarters to come, Jingwen Wang, analyst at Canalys, said in a note Monday.
For four years Samsung Electronics has basked in the success of its Galaxy smartphones, making billions of dollars competing with Apple in the premium mobile market.
The coming years are set to be more sombre for the South Korean tech giant, as it is forced to slash prices and accept lower margins at its mobile division in order to see off competition from rivals including China's Huawei Technologies and Xiaomi in the mid-to-low end of the market.
Samsung suffered a fifth straight drop in quarterly earnings as the Galaxy S6 failed to reverse its declining fortunes in global smartphone sales.
The company's overall earnings drop during the April-June quarter was 8 percent but it reported a much bigger decline of 38 percent in the mobile division's income. The sharp profit drop in the mobile business came despite its ambitious start to the quarter with the launch of two flagship smartphones – the Galaxy S6 and the S6 Edge featuring a curved side display.
China's domestic smartphone makers continue to battle foreign rivals as they post bigger market shares in the second quarter of this year, industry statistics showed.
Chinese brand Xiaomi sold more smartphones than any other producer in the country in the second quarter, garnering a market share of 18 percent, according to latest figures from market researcher IHS Technology.
Huawei and Vivo, both home-grown brands, took 16 percent and 10 percent market share, respectively, ranking second and fourth place.
Xiaomi has struck a partnership with Uber that will allow users to order the Chinese company's new device through the taxi hailing app.
The Chinese smartphone company released its flasgship 5.7-inch Mi Note in Singapore and Malaysia on Thursday. Uber customers in Singapore and Kuala Lumpar will be able to order the handset in a pre-launch flash sale via the Uber app on 27 July, a day before the smartphone goes on sale on Xiaomi's official store.
Mobile phone carriers NTT Docomo Inc. and KDDI Corp. said on Tuesday they would launch family discounts from October for same-sex partners amid a growing awareness of the rights of sexual minorities. They will ask to see certificates issued by the municipality where the couple live.
Softbank Corp., Japan's third main cellphone carrier, said same-sex couples are covered by its current system because it offers family discounts to people living at the same address.