Recent data reveals a promising resurgence in the global smartphone market, with Samsung and mass-market mobile phone brands spearheading the rebound while Apple faces challenges in keeping pace. According to Canalys, smartphone sales worldwide reached 296.2 million units in the first quarter of the year, marking a notable 10% increase compared to the previous year. This growth signifies the market’s first positive double-digit year-on-year figure since early 2021, reflecting better-than-expected performance.
Indonesian telecom operator Indosat Ooredoo Hutchison has unveiled impressive financial results for the first quarter of 2024, alongside highlighting strategic partnerships with global tech giants Nvidia, Cisco, and Mastercard. In Q1, Indosat recorded total revenue of $873 million, marking a robust 15.8% year-on-year increase. Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 22.1%, with an EBITDA margin of 47.0%, while net profit soared by 39.4% to reach $82 million.
Brussels witnessed a momentous occasion as the Gigabit Infrastructure Act received its final approval from the European Council on Monday. This legislation, eagerly awaited and heavily debated, is set to become enforceable within days, marking a significant milestone for connectivity development across the European Union’s 27 member states.
In a bid to fortify its position in the Australian regional mobile market, TPG Telecom has inked a monumental 11-year network sharing deal with Optus. Valued at a hefty A$1.59 billion ($1.04 billion), the agreement is set to significantly expand TPG’s geographic coverage, doubling it to 1 million square kilometers and enabling access to 98.4% of the population.
Despite the much-anticipated launch of Apple’s Vision Pro, reports indicate a struggle in sales for the tech giant’s high-priced mixed reality headset. Noted Apple analyst Ming-Chi Kuo recently shared insights on Medium, revealing that Apple has slashed its shipment forecast for the pricey device.
AT&T showcased robust performance in its first-quarter financial report, buoyed by significant mobile customer additions and positive metrics in earnings, cash flow, and spending. Despite a slight decline in headline figures, the telecommunications giant demonstrated resilience amid challenging market conditions.
The US Senate has made a significant leap forward with a new regulation requiring TikTok’s parent company, ByteDance, to divest from the platform or face a US ban. This move, echoed by President Biden’s support, stems from fears surrounding TikTok’s algorithm and ByteDance’s potential to share American user data with the Chinese Communist Party. However, TikTok’s CEO Shou Zi Chew vehemently denies these allegations.
The Australian investment bank, Macquarie, is reportedly considering an exit from KCom amidst escalating competition within the UK alternative network (altnet) sector. A recent report in The Telegraph suggests that Macquarie has engaged advisors from PJT Partners to conduct a strategic review of KCom, indicating potential changes on the horizon.
According to Counterpoint’s Market Pulse Service, China’s overall smartphone sales saw a modest 1.5% year-on-year growth in Q1 2024, marking a second consecutive quarter of positive growth. Notably, Huawei experienced a remarkable 69.7% year-on-year increase in market share, solidifying its position in the market. This growth was attributed to Huawei’s successful launch of the 5G-capable Mate 60 series and its enduring brand reputation, particularly in the premium segment priced above $600. In contrast, Apple witnessed a 19.1% year-on-year decline in market share during the same period, partly due to Huawei’s gains in this segment.
BT joins forces with UK Business Climate Hub to empower small to medium UK businesses to slash their CO2e emissions in half by 2030. The strategic partnership aims to combat climate change, utilizing BT’s experience and UKBCH’s resources, ultimately championing for net-zero emissions by 2050. However, reaching these transformational green goals may prove challenging for many businesses, highlighting the necessity of this collaborative initiative.
