Daily News: Reuters Technology News Headlines - China's Huawei books quickest profit growth in four years on smartphone demand

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Sunday, Mar 30, 2014 08:04 PM PDT
Today's Reuters Technology News Headlines - Yahoo! News: China's Huawei books quickest profit growth in four years on smartphone demand Alibaba to invest $692 million in department store operator Intime Retail

China's Huawei books quickest profit growth in four years on smartphone demand  Sunday, Mar 30, 2014 08:04 PM PDT By Yimou Lee and Paul Carsten SHENZHEN/BEIJING (Reuters) - China's Huawei Technologies Ltd, the world's No.2 telecommunications equipment maker, reported its fastest profit growth in four years as expansion in enterprise and consumer revenue far exceeded growth in its network building division. The unlisted company has benefited from companies investing heavily in cloud and mobile computing, while it has shipped so many mobile handsets that it became the world's third-biggest smartphone manufacturer last year. Shenzhen-based Huawei is now looking for revenue from Chinese mobile phone operators switching to fourth-generation networks to cushion the impact of a slowdown in network spending abroad. Full Story	Top
Alibaba to invest $692 million in department store operator Intime Retail  Sunday, Mar 30, 2014 06:00 PM PDT HONG KONG (Reuters) - Intime Retail (Group) Co Ltd said Alibaba Group Holding Ltd would invest HK$5.37 billion ($692.25 million) in the Chinese department store operator and form a joint venture to develop online-to-offline (O2O) business. Intime will issue 220.54 million shares at HK$7.5335 each and HK$3.71 billion worth of convertible bonds to a unit of Alibaba, the Hong Kong-listed company said in a filing to the stock exchange on Monday. ... Full Story	Top

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