Telecom Industry
Bharti Airtel logs Rs 8,346 crore PAT for FY23
The company also said its Board of Directors have recommended a final dividend of Rs 4 per fully paid-up equity share of face value Rs 5 each and Re 1 per partly paid-up equity share of face value Rs 5 each (paid-up Rs 1.25 per share) for the financial year 2022-23.
Vodafone to slash 11,000 jobs in 3 years to regain competitiveness
Margherita Della Valle, Group Chief Executive, said their performance has not been good enough. "To consistently deliver, Vodafone must change. My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness," she said in a statement as the company posted its FY23 results.
Govt focussed on semi conductor industry, says Ashwini Vaishnaw
"We are talking to all stakeholders in semi conductor industry. It's a new industry and an uphill task, but we are committed to do what is needed," he said. Addressing the scope for growth in the semiconductor industry, Vaishnaw said that a lot of interest has been shown by stakeholders in the sector, "We should see a vibrant semi-conductor industry in the next three to four years".
Indian telecom market sees 36% value growth in offline retail
While the global telecom market closed 2022 with a 9.7 per cent decline in revenue compared to the previous year, India was one of the silver linings, according to the report by market intelligence firm GfK. In 2022, India registered "a double-digit revenue growth in the same period over the previous year including smartphones, core wearables and TWS mobile headsets", said Kartik Vasudevan, GfK expert for the Telecom market.
Exempt levy of customs duty on telecom equipment to boost 5G roll out: COAI
"BCD of 20 per cent is levied on import of most of telecom equipment like optical transport equipment/networks, IP radios, MIMO/LTE products, soft switches, VoIPs, PTN, MPLS -TP, etc. which is disrupting the cost effectiveness of the telcos," said the Cellular Operators' Association of India (COAI), the apex body that represents the telecom sector.
Bharti Airtel posts Rs 2,978.9 crore net for Q2
According to Bharti Airtel, the company had posted a consolidated revenue of Rs 34,728.7 crore for Q2FY23 (against Rs 28,435.2 crore in Q2FY22) and a net profit of Rs 2,978.9 crore (Rs 1,998.1 crore in Q2FY22). The company said its average revenue per user for the quarter under review stood at Rs 190 as compared to Rs 153 in Q2'22 owing to feature phone to smartphone upgradation and data monetisation.
Vodafone Idea's board approves issuance of Rs 1,600 crore debentures to ATC Telecom
Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and Rs 2,400 crore to ATC. There was however no word on clearing Indus Towers' dues in the meeting. Indus Towers is said to have asked Vodafone Idea to clear its outstanding dues and pay every month on time for continuity of business post-November 2022. Friday's meeting was held to finalise plans for raising funds.
Vodafone Idea's board to finalise fund raising plan on Friday
Vodafone Idea has been trying to raise funds for a long time but has not succeeded. It may try and raise funds through issuance of convertible debentures through private placement to a vendor. Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and also Rs 2,400 crore to ATC.
India sees 34% uptick in jobs related to 5G, telecom: Report
Job roles such as telecommunications engineer have grown by 16 per cent from August to September 2022 in the country.
The data by leading job website Indeed also revealed that the average salary for top job roles such as technical support, BPO executive and customer service representative is Rs 3,53,298, Rs 3,29,520 and Rs 3,06,680 respectively.
Millions of Indian smartphone users have to wait till 2024 for 5G
India is home to more than 500 million smartphone users and over 100 million users with 5G-ready smartphones wish to upgrade to a 5G subscription in 2023, according to a latest Ericsson report. However, there are multiple challenges ahead for telecom service providers to meet the tough roll-out deadlines.
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