News
Samsung Hopes Galaxy S6 Will Help Reverse 39% 1Q2015 Earnings Slide

Samsung Electronics Co. predicts the new Galaxy S6 devices will help to reverse declining earnings and spark profits from its smartphone and components businesses.
Shares rose on the prediction.
Samsung expressed the coming revival on Wednesday after reporting its fourth straight quarterly drop in net income.
Consumers have been switching to Apple Inc.’s larger iPhones and cheaper Chinese devices as the rising South Korean won makes Samsung products more expensive abroad.
Making chips and screens for its own mobile devices while also supplying rivals may help Samsung blunt the impact of sales gains by Apple, which posted a surge in earnings.
The Galaxy S6 phones, including the more expensive Edge with a wraparound display, were released this month to positive reviews and strong demand said to have prompted an acceleration of curved-screen output.
“The second quarter will be brighter as mobile earnings are expected to improve, largely driven by the increased sales of the S6,” said Greg Roh, a Seoul-based analyst at HMC Investment Securities Co. “The pricier Edge device will take up half of the total S6 shipment from May, and that will give a strong lift to its mobile business.”
Shares of Samsung rose 1.4 percent to 1,385,000 won in Seoul, their first gain in a week. The stock has advanced 4.4 percent this year, compared with the 12 percent increase in the benchmark Kospi index.
Net income, excluding minority interests, fell 40 percent to 4.52 trillion won ($4.2 billion) in the quarter ended March, the Suwon, South Korea-based company said.
Samsung, the world’s biggest chipmaker, said it should capitalize on stronger demand for the semiconductors used in mobile phones and servers.
“In the second quarter, the company expects its overall earnings to increase,” Samsung said. “In 2015, continued growth is expected due to the growth of emerging smartphone markets, such as China and India.”
Operating profit at the mobile-phone unit fell 57 percent to 2.74 trillion won in the first quarter as Apple won high-end customers.
Samsung shipped 83.2 million smartphones in the March quarter, helping it regain the title of world’s biggest vendor after dropping into a tie with Apple in the December period, according to Strategy Analytics. Apple shipped 61.2 million iPhones in the most recent quarter, it said.
Samsung has projected record sales for the high-end S6 smartphones released this month. Samsung will sell 46 million this year, said Kevin Lee, an analyst at Korea Investment & Securities Co.
The phone is among the Samsung products featured in the new “Avengers: Age of Ultron” movie as part of a global partnership with Marvel Entertainment.
Demand for the curved-screen Edge prompted the company to accelerate production, people familiar with the matter have said. The company can make 5 million units a month, they said.
“Edge supply is fast-improving, so the tight supply situation will be eased during the second quarter,” said Park Jin Young, Samsung vice president of mobile communications. “If we look at it over the model’s life cycle, S6 will be the best-seller.”
Apple this week posted a 33 percent jump in profit in the quarter ended in March, driven by strong demand for the iPhone 6 models.
Profit at Samsung’s semiconductor business, which makes both memory chips and application processors, was 2.93 trillion won, compared with 1.95 trillion won a year earlier.
Samsung, which previously relied on semiconductors from Qualcomm Inc. for its mobile devices, switched to its own processor and modem chips for the S6 lineup.
The company also is said to have won orders for the main processors in the next iPhone.
The consumer-electronics division, which oversees TVs and home-appliances, posted a 140 billion-won loss in the quarter from a 190 billion-won profit a year earlier. Samsung expects the unit to have a stronger second quarter on seasonally higher demand for air conditioners and high-end TVs.
Increasing sales of high-margin screens helped Samsung’s panel-making division return to operating profit of 520 billion won in the first quarter.
Samsung Display Co. is expanding sales of its organic light-emitting diode, or OLED, panels from Galaxy devices to Chinese device makers, including Lenovo Group Ltd.
Samsung Display, which is 85 percent owned by Samsung Electronics, is said to have created a standalone team of about 200 employees to work exclusively on Apple products.
Capital spending in 2015 will be similar to the year earlier, though “there is a strong possibility that it may increase,” Samsung said. The company spent 23.4 trillion won last year.
News
Nigeria, Others Lag Behind as Egypt Tops Africa in AI Readiness

Nigeria and other Sub-Saharan Africa countries rank ninth out of nine global regions as Egypt has emerged as Africa’s leading country in artificial intelligence readiness, ranking first on the continent and 51st globally in the 2025 Government AI Readiness Index published by Oxford Insights.

The impressive ranking has been lauded as underscoring North Africa’s growing influence in the global AI race.
According to Egypt’s Ministry of Communications and Information Technology (MCIT), the country scored 57.5 points out of 100, climbing 14 places from 65th in 2024.
The Nile nation also ranked fourth in the Middle East and North Africa (MENA) region, behind Saudi Arabia, Israel and the United Arab Emirates.
The Oxford Insights index assesses 195 governments using 69 indicators across six pillars, including policy capacity, governance, AI infrastructure, public sector adoption, development and diffusion, and resilience.
Egypt topped the Policy Capacity pillar globally with a perfect score of 100, tying with the UK, Serbia and Australia, an indicator of strong national AI policymaking and institutional readiness.
Oxford Insights noted that countries such as Egypt are “expanding the use of AI across national priorities while shaping policies to strengthen domestic AI ecosystems,” although gaps in infrastructure and talent development remain in some contexts.
MCIT minister Amr Talaat attributed Egypt’s strong performance to deliberate government action.
“This achievement reflects our efforts to integrate artificial intelligence into public services and accelerate digital transformation through Egypt’s second National AI Strategy. We are positioning Egypt as a regional AI hub while ensuring AI delivers real economic and social value,” he said.
Launched for 2025–2030, Egypt’s National AI Strategy targets sectors such as healthcare, justice and public administration, while aiming to train 30 000 AI specialists by 2030 and raise AI’s contribution to GDP to 7.7%.
Talaat also highlighted Egypt’s cybersecurity credentials when he highlighted that the country ranked among the top 12 globally in the ITU’s Global Cyber security Index.
Regionally, the results expose sharp contrasts across Africa. Sub-Saharan Africa ranks ninth out of nine global regions, with an average score of 28.04, reflecting persistent gaps in AI infrastructure and public sector adoption.
However, countries such as Kenya, South Africa, Mauritius and Nigeria lead the sub-region, while Rwanda and Ethiopia are gaining momentum through innovation hubs and policy reforms.
In contrast, the MENA region ranks fifth globally, buoyed by significant investment in AI infrastructure and policy capacity, particularly in Gulf states.
News
SERAP Sues INEC Over Alleged ₦55.9Bn Election Funds Diversion

Socio-Economic Rights and Accountability Project (SERAP) has dragged the Independent National Electoral Commission (INEC) to court over the alleged failure to account for ₦55.9 billion reportedly meant for the procurement of election materials for the 2019 general elections.

The grave allegations are documented in the latest annual report published by the Auditor-General on 9 September 2025.
In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel INEC to account for the missing or diverted N55.9 billion meant to buy smart card readers, ballot papers, and other election materials for the 2019 general elections.”
SERAP is also seeking: “an order of mandamus to direct and compel INEC to disclose the names of all contractors paid the N55.9 billion for the procurement of smart card readers, ballot papers, result sheets, and other election materials for the 2019 general elections, including the names of their directors and shareholders.”
In the suit, SERAP is arguing that: “INEC must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”
SERAP is also arguing that, “INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered.”
According to SERAP, “INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.”
SERAP is also arguing that, “These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law.”
SERAP also said, “Allegations of corruption in the supply of smart card readers, ballot papers, result sheets and other election materials directly undermine Nigerians’ right to participate in elections that are free, fair, transparent, and credible.”
The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, read in part: “These grim allegations by the Auditor-General suggest a grave violation of the public trust, the Nigerian Constitution 1999 [as amended] and international anticorruption standards.”
“According to the recently published 2022 audited report by the Auditor General of the Federation (AGF), the Independent National Electoral Commission (INEC) ‘irregularly paid’ over N5.3 billion [N5,312,238,499.39] ‘to a contractor for the supply of Smart Card Readers for the 2019 general elections’.
“The contract was awarded without prior approval from the Bureau of Public Procurement (BPP) and the Federal Executive Council. The payment was also ‘made without any document. There was no evidence of supplies to the commission.’”
News
FG Inaugurates N40Bn CCTV Control Centre for Third Mainland Bridge

Federal government has inaugurated a ₦40 billion closed-circuit television (CCTV) control centre for the Third Mainland Bridge in Lagos.

Speaking at the inauguration on Sunday, David Umahi, minister of Works, said the project followed extensive rehabilitation works carried out on the bridge after the current administration took office in 2023.
“When we came on board in 2023, we met a very terrible Third Mainland Bridge,” Umahi said, adding that the structure, along with Carter and Iddo bridges, required comprehensive re-evaluation and repairs both above and below water level.
He said President Bola Tinubu approved the total rehabilitation of the bridge, including replacement of expansion joints, noting that the completed work had improved driving conditions and extended the bridge’s lifespan.
Umahi said the CCTV system, first announced in 2025, was designed to curb dangerous driving, prevent suicide attempts and strengthen security.
He added that security personnel would monitor live footage from the control centre and enforce speed limits on the bridge.
The minister commended the China Civil Engineering Construction Corporation (CCECC), which executed the project, for what he described as high-quality delivery. He said the contract also included a surveillance boat and two Hilux vans, which would be handed over to the police to support monitoring and rapid response.
“The idea is that we can see everything that is happening on the bridge,” Umahi said, expressing concern over excessive speeding and urging motorists to comply with traffic regulations.
Earlier, Olufemi Dare, federal controller of works in Lagos, said the facility was the first of its kind on any bridge in Nigeria.
He said the system allows real-time monitoring of activities on the bridge and surrounding waters.
Dare said the project includes 240 solar panels, 10 inverters, a 300 KVA transformer, a standby generator, multiple monitoring screens and full air-conditioning for the control centre.
He added that the contract also covers 1,268 solar-powered street lights and a borehole facility.
According to Dare, the project was awarded at a cost of ₦40.17 billion, with about ₦36 billion paid so far to the contractor. He said the current inauguration marked the first phase, with additional commissioning planned once work on the bridge’s extension is completed.
He thanked the president for approving the project and praised Umahi for ensuring due process during its execution.
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