FASTTAKES: Telecom NZ, RIM, Twitter, PCCW, MTN, LGE

Staff writer
20 Aug 2010
00:00

Telecom New Zealand has reported a 20% slide in full-year profit to NZ$382 million ($269.9m), during what CEO Paul Reynolds called “a year of further recessionary and regulatory impacts.”

RIM is seeking to buy a mobile advertising network, sources told the Wall Street Journal. The handset maker has held talks with US-based Millennial Media over a potential acquisition, but progress has stalled, the sources said.

North Korea has opened a Twitter account. While US government officials welcomed the move, South Korea has blocked access to the account, citing “illegal content.”

PCCW has reportedly hired four banks to help it sell $500 million worth of 5.5 year bonds – an increase of $200 million on its initial offer, sources said.

South Africa's MTNincreased its profit 21% in the first half, helping it to issue an interim dividend for the first time.

LG Electronics plans to incorporate an Nvidia dual-core processor into its line of Optimus smartphones, due for later this year. LGE plans to launch 10 new smartphones by the end of the year.

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