Samsung Electronics is gearing up to release a low-cost Tizen-powered smartphone in the USD100 price range, according to local media reports, responding to intensifying competition from Chinese budget smartphone makers shaking up the market.
The phone will be launched in India, the world's third largest smartphone market, by end-January, South Korea's Yonhap news agency reported on Sunday, citing industry sources.
China Mobile, China's largest telecommunication service provider, has forecast that it will have 250 million 4G customers in 2015.
The company has experienced robust 4G business growth in 2014 and had more 50 million 4G users as of the end of October, China Mobile chief executive officer Li Yue said on Friday.
China's 4G is powered by the homegrown technology, Time-Division Long-Term Evolution (TD-LTE), one of the two major international standards in the mobile telecom industry, the other being Frequency Division Duplex.
The Gioi Di Dong (Mobile World) Joint Stock Company, Vietnam's largest mobile phone retail chain, has reached a post-tax profit of VND609 billion (USD29 million) after 11 months, 140 percent of the annual target, the company has announced.
The revenue during this period was more than VND14 trillion (USD666 million), as much as 108 percent of the annual target.
The company also announced that it will reach the target to open 350 outlets nationwide by the end of the month.
Fusion Communications Corp., the telecommunications company of the Rakuten Group, has expanded its lineup of smartphones with two new models.
Along with the opening of a counter for applications for new contracts at the Rakuten CAFÉ, it said it will also launch monthly payment plans for its smartphones.
Rakuten Mobile is an MVNO (Mobile Virtual Network Operator) service provided by Fusion that utilizes NTT DoCoMo’s LTE network. It offers a SIM-free device with a low-cost SIM card package for calling, in addition to offering the low-cost SIM card by itself.
Best Buy Co. is selling its China division to a Chinese real estate group, exiting a country where the American electronics retailer has struggled for years as it streamlines its global business to focus on its core U.S. operations.
To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.
Best Buy has divested its home appliance unit in China, Five Star Appliance, as the retailer officially pulls out of the country after shutting down nine outlets in 2011.
The US retailer said in a statement on Thursday that it had sold Five Star to Zhejiang Jiayuan Real Estate Group, without giving details.
Five Star currently has 184 outlets in China. The deal is expected to be completed in the first quarter of next year, pending regulatory approval. Best Buy will also sell its property in Xujiahui area in downtown Shanghai next year.
Korea’s home appliances company Cuckoo Electronics Co. Ltd. recently opened its second branded shop in Vietnam.
The store is located in Hanoi Trung Hoa, a high-density residential city as well as a hub of business, administration, commerce, industry, culture and education.
The company’s first shop in Vietnam opened in July in Phu My Hung, Ho Chi Minh City.
A 67 percent increase in consumer goods sales – attributed to the release of new iPhone models – helped nudge overall retail figures up 1.4 percent year-on-year in October but the government blamed the Occupy movement for a dip in several sectors.
India was the fastest growing market in Asia-Pacific for smartphones with a quarter-on-quarter growth of 27 percent in the third quarter of 2014. Research firm IDC said the growth can be attributed to the high festive demand.
IDC Asia-Pacific Quarterly Mobile Phone Tracker shows that the overall mobile phone market stood at 72.5 million units during the quarter, which is a 15 percent quarter-on-quarter growth and a 9 percent year-on-year growth.
The hue and cry over Flipkart's Big Billion Day Sale last month has prompted consumer electronic companies to take safeguards against deep discounting. LG, Samsung, Videocon, Sony and Panasonic have instructed their trade partners that products sold through online marketplaces without their knowledge during flash sales will not get the benefit of after-sale service and warranties.