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Europe

Euronews: July 23

8:30 AM -- Something of a results-fest today in the European telecom news roundup, as Vodafone Group plc (NYSE: VOD), Ericsson AB (Nasdaq: ERIC), and ST-Ericsson bare their financials, as it were. Oh, and BT Group plc (NYSE: BT; London: BTA) is up to its old tricks...
  • Vodafone gave some hope to the global mobile community today by announcing that the April-to-June quarter was the first to show "service revenue growth since the global recession impacted." Vodafone noted "improving trends" in all regions. Hurrah! (See Vodafone Reports Q1.)

  • Not such a happy story at Ericsson, where components shortages and supply chain bottlenecks contributed to an 8 percent year-on-year decline in second-quarter group sales. (See Parts Problems Hurt Ericsson's Q2.)

  • It's finger-in-the-dike time at Ericsson's joint venture with STMicroelectronics NV (NYSE: STM), ST-Ericsson, where second-quarter results reveal that revenues continue to decline, but losses, while significant, are at least being stemmed. (See ST-Ericsson Reports Q2.)

  • At its annual meeting yesterday, BT revealed it had asked its auditors to change members of the audit team (from PricewaterhouseCoopers International ) working on its BT Global Services unit after over-optimistic profit assumptions led to a £1.6 billion (US$2.4 billion) writedown, reports The Financial Times. PWC duly obliged...

  • UK regulator Ofcom , however, hasn't been quite so obliging. BT wanted to raise its wholesale prices to help make up for its monster-sized pension shortfall, reports UKPA, but Ofcom is having none of it. (See Euronews: July 14.)

  • Following on from its recent trials, Vodafone Greece has commercially launched its 3G femtocell, the Vodafone Access Gateway. The device, sourced from Huawei Technologies Co. Ltd. , is available for €150 ($194) but is discounted for some Vodafone customers. (See Femto Watch: Vodafone Expands Footprint .)

    — Paul Rainford, freelance editor, special to Light Reading

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