Ericsson AB, the world’s biggest maker of wireless networks, may report its sharpest profit drop in more than there years. Considering the costs it planned to cut 4,000 and lower the demand for phones at the handset companies with Sony Corp.
According to the median estimate of 15 analysts, its net income in the second quarter fell 56 percent to 2.82 billion kronor ($472 million). Read more…
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China Business, China Economy
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A Global Telecommunication Center has been set up in Beijing by Ernst & Young, one of the big four accounting firms in the world, with the aim to power the expected restructuring of the China’s telecommunications sector and surging mergers and acquisitions.
The center will gather Ernst & Young’s global telecom resources to enlarge the scope of its client service skills and to provide up-to-date solutions on critical issues and latest trends facing the sector. It plans to provide Chinese telecom operators with services including auditing, risk control, tax, financial transactions, advisory, finance and operations and serve as the hub for the country’s increasing demand of the telecommunication industry.
“There’s an increasing demand for accounting services from Chinese telecommunication operators which are to be restructured and are seeking overseas expansion,” said Vincent de la Bachelerie, leader of Ernst & Young Global Telecommunications Industry, expressing his optimism about the Chinese telecom outlook.
“The telecommunications industry is a key sector for Ernst & Young, and it is important for us to strategically align our services in the Chinese market, where we are witnessing significant growth and change,” said Jonathan Dharmapalan, head of the Global Telecommunications Center.
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BPO, China Business, China Business News, China Outsourcing, Internet and Hi-Tech
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China’s telecom industry will see a reshuffle in the near future as the government is expected to release the long-awaited license for the third generation (3G) technology and restructure the major wireless and fixed-line carriers later this year or next year.
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BPO, China Business, China Business News
3G, China Business, telecom
Ericsson AB, the world’s biggest maker of wireless networks, may report its sharpest profit drop in more than there years. Considering the costs it planned to cut 4,000 and lower the demand for phones at the handset companies with Sony Corp.