Connect with us

News

Samsung Sets Bullish Goals for 2013

Published

on

Lee Kun-hee, Samsung Group Chairman
Kindly share this post

Samsung has set itself ambitious targets for 2013, with the world’s largest handset vendor reportedly aiming to ship around 20 percent more devices this year than in 2012.

Meanwhile Lee Kun Hee, chairman has urged employees to develop new businesses for the company.

According to a report last week from The Korea Times, the South Korean vendor wants to ship 510 million phones this year, which exceeds the 420 million it projected for 2012.

The 2013 increase adds anticipated holiday sales to its existing 288 million total devices sold through September.

Around 76 percent, or 390 million, of that 510 million will be smartphones, according to a key Samsung supplier speaking to The Korea Times.

Advertisement

Adding to this bullish growth, Bloomberg has reported that Samsung’s chairman has warned its staff the firm must continue to innovate in new business, as competition increases amid tough global economic conditions.

“There’s an ongoing competition by global companies across all areas from products, technology development and hiring talented people to patent disputes,” Lee said, according to a summary of a speech he gave to employees. “The market is big and opportunities are wide open, so we should find out new businesses that Samsung’s future will hinge on.” Lee said.

Lee didn’t elaborate on potential new growth markets for Asia’s biggest consumer electronics company. In mobile, the firm is expected to widen its software offering; as well as Android, bada and Windows Phone devices, the company is planning on launching smartphones powered by open source OS Tizen (The Yomiuri Shimbun reported over the holidays that Samsung is partnering with NTT Docomo to launch Tizen devices in Japan later this year). Furthermore, Samsung is expected to be the first to ship flexible displays in 2013, ahead of competitors like LG, Sony and Nokia.

Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Published

on

Kindly share this post

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.

According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.

Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.

He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.

Advertisement

“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.

He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.

The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.

In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.

He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.

Advertisement

Kindly share this post
Continue Reading

News

NAICOM Issues New Licences to 43 Recapitalized Insurers

Published

on

Kindly share this post

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.

According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.

Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.

He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.

Advertisement

The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.

He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.

According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.

Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.

The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.

Advertisement

 

Kindly share this post
Continue Reading

News

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Published

on

Kindly share this post

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.

Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.

Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.

The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.

Advertisement

Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.

Kindly share this post
Continue Reading

Trending