Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Alcatel-Lucent slashed its net loss for 2014 by more than 90% to €118 million ($133.5 million) as a result of the vendor’s cost-cutting efforts.
The company, which had reported a net loss of €1.3 billion in 2013, also attributed the result to an impairment charge from the prior year.
Revenue fell 3% year-on-year to €13.18 billion, but would have stayed flat excluding the impact of declining managed services income. The decline in managed services revenue was down to the termination or restructuring of loss-making contracts.
By region, revenue from APAC declined 1% year-on-year due to a slowdown in China’s networking gear spending. Revenue from North America fell 11% and revenue from Western Europe – excluding managed services revenue – improved 1% over the same period.
The results for the year provide more evidence that Alcatel-Lucent’s multi-year Shift Plan is bearing fruit, helping to turn around the lossmaking vendor’s fortunes. Original post at Telecom Asia