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Qualcomm Announces First Quarter Fiscal 2013 Results

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Revenues $6.0 Billion
GAAP EPS $1.09, Non-GAAP EPS $1.26
– Record Quarterly Revenues and Non-GAAP EPS; Raising Fiscal 2013 Guidance –

SAN DIEGO /PRNewswire/ — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the first quarter of fiscal 2013 ended December 30, 2012.
“We are pleased to report record quarterly revenues, Non-GAAP EPS and MSM chip shipments, driven by the growing global demand for smartphones and our industry-leading portfolio of 3G/LTE chipsets,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “Our broad licensing partnerships and extensive chipset roadmap, including our recently announced best-in-class Qualcomm Snapdragon 800 and 600 processors, position us well for strong growth, and we are pleased to be raising our revenue and earnings guidance for fiscal 2013.”
First Quarter Results (GAAP)
Revenues: 1 $6.02 billion, up 29 percent year-over-year (y-o-y) and 24 percent sequentially.
Operating income: 1 $2.09 billion, up 35 percent y-o-y and 69 percent sequentially.
Net income: 2 $1.91 billion, up 36 percent y-o-y and 50 percent sequentially.
Diluted earnings per share: 2 $1.09, up 35 percent y-o-y and 49 percent sequentially.
Effective tax rate: 1 18 percent for the quarter.
Operating cash flow: $1.98 billion, up 11 percent y-o-y; 33 percent of revenues.
Return of capital to stockholders: $678 million, including $428 million, or $0.25 per share, of cash dividends paid, and $250 million through repurchases of 4.3 million shares of common stock.
1 Throughout this news release, fiscal 2012 results for FLO TV are presented as discontinued operations. Revenues, operating expenses, operating income, earnings before tax (EBT) and effective tax rates are from continuing operations (i.e., before adjustments for noncontrolling interests and, for fiscal 2012, discontinued operations), unless otherwise stated.
2 Throughout this news release, net income and diluted earnings per share are attributable to Qualcomm (i.e., after adjustments for noncontrolling interests and discontinued operations), unless otherwise stated.
Non-GAAP First Quarter Results
Non-GAAP results exclude the QSI segment, certain share-based compensation, certain acquisition-related items and certain tax items.
Revenues: $6.02 billion, up 29 percent y-o-y and 24 percent sequentially.
Operating income: $2.45 billion, up 31 percent y-o-y and 52 percent sequentially.
Net income: $2.20 billion, up 32 percent y-o-y and 42 percent sequentially.
Diluted earnings per share: $1.26, up 30 percent y-o-y and 42 percent sequentially. Excludes $0.01 loss per share attributable to QSI, $0.12 loss per share attributable to certain share-based compensation and $0.04 loss per share attributable to certain acquisition-related items.
Effective tax rate: 18 percent for the quarter.
Free cash flow (defined as net cash from operating activities less capital expenditures): $1.85 billion, up 24 percent y-o-y; 31 percent of revenues.
Detailed reconciliations between results reported in accordance with generally accepted accounting principles (GAAP) and Non-GAAP results are included within this news release.
First Quarter Key Business Metrics
MSMTM chip shipments: 182 million units, up 17 percent y-o-y and 29 percent sequentially.
September quarter total reported device sales: approximately $53.3 billion, up 29 percent y-o-y and 15 percent sequentially.
September quarter estimated 3G/4G device shipments: approximately 233 to 237 million units, at an estimated average selling price of approximately $224 to $230 per unit.
Cash and Marketable Securities
Our cash, cash equivalents and marketable securities totaled $28.4 billion at the end of the first quarter of fiscal 2013, compared to $22.0 billion a year ago and $26.8 billion at the end of the fourth quarter of fiscal 2012. On January 15, 2013, we announced a cash dividend of $0.25 per share payable on March 27, 2013 to stockholders of record as of March 8, 2013.
Research and Development
($ in millions)

Non-GAAP

QSI

Share-Based
Compensation

GAAP

First quarter fiscal 2013

$ 949

$ 1

$ 156

$ 1,106

As % of revenues

16%

18%

First quarter fiscal 2012

$ 746

$ 1

$ 126

$ 873

As % of revenues

16%

19%

Year-over-year change ($)

27%

N/M

24%

27%

N/M – Not Meaningful

Non-GAAP research and development (R&D) expenses increased 27 percent y-o-y primarily due to an increase in costs related to the development of CDMA-based 3G, OFDMA-based 4G LTE and other technologies for integrated circuit and related software products and to expand our intellectual property portfolio.
Selling, General and Administrative
($ in millions)

Non-GAAP

QSI

Share-Based
Compensation

Acquisition-
Related Items

GAAP

First quarter fiscal 2013

$ 468

$ 7

$ 105

$ 7

$ 587

As % of revenues

8%

10%

First quarter fiscal 2012

$ 381

$ 12

$ 101

$ 9

$ 503

As % of revenues

8%

11%

Year-over-year change ($)

23%

N/M

4%

N/M

17%

N/M – Not Meaningful

Non-GAAP selling, general and administrative (SG&A) expenses increased 23 percent y-o-y primarily due to increases in employee-related expenses and costs relating to legal matters.
Effective Income Tax Rates
In the first quarter of fiscal 2013, the effective income tax rates for GAAP and Non-GAAP were both 18 percent. Starting in the second quarter of fiscal 2013, our fiscal 2013 annual effective income tax rates are estimated to be approximately 16 percent for GAAP and approximately 17 to 18 percent for Non-GAAP, which include the recent retroactive extension of the federal R&D tax credit. The R&D tax credit benefit related to fiscal 2012 that will be recorded in the second quarter of fiscal 2013 will be excluded from Non-GAAP results.
QSI Segment
QSI makes strategic investments, many of which are in early-stage companies, and holds wireless spectrum. GAAP results for the first quarter of fiscal 2013 included $0.01 loss per share for QSI.
Business Outlook
The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our annual and quarterly reports on file with the Securities and Exchange Commission (SEC) provide a more complete description of risks.
Our outlook does not include provisions for future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as realized investment and certain derivative gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our business outlook to the extent they are reasonably certain; however, actual results may vary materially from the business outlook.
The following table summarizes GAAP and Non-GAAP guidance based on the current business outlook. The Non-GAAP business outlook presented below is consistent with the presentation of Non-GAAP results included elsewhere herein.
Qualcomm’s Business Outlook Summary

SECOND FISCAL QUARTER

Q2 FY12

Current Guidance

Results (1)

Q2 FY13 Estimates

Revenues

$4.94B

$5.8B – $6.3B

Year-over-year change

increase 17% – 27%

Non-GAAP Diluted earnings per share (EPS)

$1.01

$1.10 – $1.18

Year-over-year change

increase 9% – 17%

Diluted EPS attributable to QSI

$0.41

$0.00

Diluted EPS attributable to share-based compensation

($0.11)

($0.12)

Diluted EPS attributable to acquisition-related items

($0.03)

($0.04)

Diluted EPS attributable to tax items (2)

N/A

$0.04

GAAP Diluted EPS

$1.28

$0.98 – $1.06

Year-over-year change

decrease 17% – 23%

Metrics

MSM chip shipments

152M

163M – 173M

Year-over-year change

increase 7% – 14%

Total reported device sales (3)

approx. $51.7B*

approx. $57.5B – $62.5B*

Year-over-year change

increase 11% – 21%

*Est. sales in December quarter, reported in March quarter

FISCAL YEAR

FY 2012

Prior Guidance

Current Guidance

Results (1)

FY 2013 Estimates

FY 2013 Estimates

Revenues

$19.12B

$23.0B – $24.0B

$23.4B – $24.4B

Year-over-year change

increase 20% – 26%

increase 22% – 28%

Non-GAAP Diluted EPS

$3.71

$4.12 – $4.32

$4.25 – $4.45

Year-over-year change

increase 11% – 16%

increase 15% – 20%

Diluted EPS attributable to QSI

$0.40

($0.04)

($0.02)

Diluted EPS attributable to share-based compensation

($0.47)

($0.53)

($0.51)

Diluted EPS attributable to acquisition-related items

($0.14)

($0.15)

($0.15)

Diluted EPS attributable to tax items (2)

$0.01

N/A

$0.04

GAAP Diluted EPS

$3.51

$3.40 – $3.60

$3.61 – $3.81

Year-over-year change

decrease 3% – increase 3%

increase 3% – 9%

Metrics

Est. fiscal year* 3G/4G device average selling price range (3)

approx. $216 – $222

approx. $214 – $226

approx. $214 – $226

*Shipments in Sept. to June quarters, reported in Dec. to Sept. quarters

CALENDAR YEAR Device Estimates (3)

Prior Guidance
Calendar 2012
Estimates

Current Guidance
Calendar 2012
Estimates

Prior Guidance
Calendar 2013
Estimates

Current Guidance
Calendar 2013
Estimates

Est. 3G/4G device shipments

March quarter

approx. 206M – 211M

approx. 206M – 211M

not provided

not provided

June quarter

approx. 210M – 214M

approx. 210M – 214M

not provided

not provided

September quarter

not provided

approx. 233M – 237M

not provided

not provided

December quarter

not provided

not provided

not provided

not provided

Est. calendar year range (approx.)

880M – 930M

915M – 940M

1,000M – 1,070M

1,000M – 1,070M

Est. calendar year midpoint (approx.) (4)

905M

928M

1,035M

1,035M

(1)

Q2 FY12 and FY 2012 results for QSI and GAAP included $0.44 EPS related to a $1.2 billion gain associated with the sale of substantially all of our 700 MHz spectrum, which was recognized in discontinued operations and was excluded from Non-GAAP results.

(2)

In the second quarter of fiscal 2013, we expect to record a tax benefit as a result of the retroactive extension of the federal R&D tax credit related to fiscal 2012 of approximately $0.04 per share, which will be excluded from Non-GAAP results.

(3)

Total reported device sales is the sum of all reported sales in U.S. dollars (as reported to us by our licensees) of all licensed CDMA-based, OFDMA-based and multimode CDMA/OFDMA subscriber devices (including handsets, modules, modem cards and other subscriber devices) by our licensees during a particular period (collectively, 3G/4G devices). The reported quarterly estimated ranges of average selling prices (ASPs) and unit shipments are determined based on the information as reported to us by our licensees during the relevant period and our own estimates of the selling prices and unit shipments for licensees that do not provide such information. Not all licensees report sales, selling prices and/or unit shipments the same way (e.g., some licensees report selling prices net of permitted deductions, such as transportation, insurance and packing costs, while other licensees report selling prices and then identify the amount of permitted deductions in their reports), and the way in which licensees report such information may change from time to time. Total reported device sales, estimated unit shipments and estimated ASPs for a particular period may include prior period activity that was not reported by the licensee until such particular period.

(4)

The midpoints of the estimated calendar year ranges are identified for comparison purposes only and do not indicate a higher degree of confidence in the midpoints.

N/A – Not Applicable

Sums may not equal totals due to rounding.

Results of Business Segments
The following table reconciles our Non-GAAP results to our GAAP results (in millions, except per share data):
SEGMENTS

QCT

QTL

QWI

Non-GAAP
Reconciling
Items (1)

Non-GAAP
(2)

QSI (2)

Share-Based
Compensation (2)

Acquisition-
Related Items
(2)

Tax Items

GAAP

Q1 – FISCAL 2013

Revenues

$4,120

$1,757

$146

($5)

$6,018

$ –

$ –

$ –

$ –

$6,018

Change from prior year

34%

22%

(4%)

N/M

29%

29%

Change from prior quarter

32%

12%

(9%)

N/M

24%

24%

Operating income (loss)

$2,447

($8)

($281)

($70)

$ –

$2,088

Change from prior year

31%

38%

(14%)

(17%)

35%

Change from prior quarter

52%

(100%)

1%

21%

69%

EBT

$1,068

$1,532

($3)

$98

$2,695

($17)

($281)

($70)

$ –

$2,327

Change from prior year

45%

21%

N/M

78%

31%

50%

(14%)

(17%)

35%

Change from prior quarter

120%

12%

N/M

51%

40%

19%

1%

21%

52%

EBT as % of revenues

26%

87%

N/M

N/M

45%

39%

Net income (loss)

$2,204

($12)

($219)

($67)

$ –

$1,906

Change from prior year

32%

45%

(13%)

(22%)

N/A

36%

Change from prior quarter

42%

N/M

1%

14%

N/M

50%

Diluted EPS

$1.26

($0.01)

($0.12)

($0.04)

$ –

$1.09

Change from prior year

30%

0%

(9%)

(33%)

N/A

35%

Change from prior quarter

42%

N/M

8%

0%

N/M

49%

Diluted shares used

1,751

1,751

1,751

1,751

1,751

1,751

Q4 – FISCAL 2012

Revenues

$3,129

$1,572

$161

$9

$4,871

$ –

$ –

$ –

$ –

$4,871

Operating income (loss)

1,612

(4)

(284)

(89)

1,235

EBT

$486

$1,370

($1)

$65

1,920

(21)

(284)

(89)

1,526

Discontinued operations, net of tax

23

23

Net income (loss)

1,547

14

(222)

(78)

10

1,271

Diluted EPS

$0.89

$0.01

($0.13)

($0.04)

$0.01

$0.73

Diluted shares used

1,745

1,745

1,745

1,745

1,745

1,745

Q2 – FISCAL 2012

Revenues

$3,059

$1,723

$159

$2

$4,943

$ –

$ –

$ –

$ –

$4,943

Operating income (loss)

1,900

(89)

(240)

(57)

1,514

EBT

$599

$1,540

($10)

$1

2,130

(99)

(240)

(57)

1,734

Discontinued operations, net of tax

761

761

Net income (loss)

1,759

707

(184)

(52)

2,230

Diluted EPS

$1.01

$0.41

($0.11)

($0.03)

$ –

$1.28

Diluted shares used

1,743

1,743

1,743

1,743

1,743

1,743

Q1 – FISCAL 2012

Revenues

$3,085

$1,440

$152

$4

$4,681

$ –

$ –

$ –

$ –

$4,681

Operating income (loss)

1,871

(13)

(247)

(60)

1,551

EBT

$739

$1,267

$1

$55

2,062

(34)

(247)

(60)

1,721

Discontinued operations, net of tax

(5)

(5)

Net income (loss)

1,672

(22)

(194)

(55)

1,401

Diluted EPS

$0.97

($0.01)

($0.11)

($0.03)

$ –

$0.81

Diluted shares used

1,721

1,721

1,721

1,721

1,721

1,721

12 MONTHS – FISCAL 2012

Revenues

$12,141

$6,327

$633

$20

$19,121

$ –

$ –

$ –

$ –

$19,121

Operating income (loss)

7,100

(116)

(1,035)

(267)

5,682

EBT

$2,296

$5,585

($15)

$168

8,034

(170)

(1,035)

(267)

6,562

Discontinued operations, net of tax

777

(1)

776

Net income (loss)

6,463

690

(811)

(243)

10

6,109

Diluted EPS

$3.71

$0.40

($0.47)

($0.14)

$0.01

$3.51

Diluted shares used

1,741

1,741

1,741

1,741

1,741

1,741

(1)

Non-GAAP reconciling items related to revenues consist primarily of other nonreportable segment revenues less intersegment eliminations. Non-GAAP reconciling items related to earnings before taxes consist primarily of certain costs of equipment and services revenues, research and development expenses, sales and marketing expenses, other operating expenses and certain investment income or losses and interest expense that are not allocated to the segments for management reporting purposes; nonreportable segment results; and the elimination of intersegment profit.

(2)

At fiscal year end, the sum of the quarterly tax provision (benefit) for each column equals the annual tax provision (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these provisions (benefits) may not equal the total GAAP tax provision, and this difference is allocated to tax provisions (benefits) among the columns.

N/M – Not Meaningful

N/A – Not Applicable

Sums may not equal totals due to rounding.

Conference Call
Qualcomm’s first quarter fiscal 2013 earnings conference call will be broadcast live on January 30, 2013, beginning at 1:45 p.m. Pacific Time (PT) at http://investor.qualcomm.com/events.cfm. This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and GAAP reconciliation information, as well as the other material financial and statistical information to be discussed on the conference call, will be posted at http://www.qualcomm.com/investor immediately prior to commencement of the call. An audio replay will be available at http://investor.qualcomm.com/events.cfm and via telephone for 30 days shortly following the live call. To listen to the replay via telephone, U.S. callers may dial (855) 859-2056, and international callers may dial (404) 537-3406. Callers should use reservation number 85067601.
Note Regarding Use of Non-GAAP Financial Measures
The Non-GAAP financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. In addition, “Non-GAAP” is not a term defined by GAAP, and as a result, the Company’s measure of Non-GAAP results might be different than similarly titled measures used by other companies. Reconciliations between GAAP and Non-GAAP results are presented herein.
The Company uses Non-GAAP financial information (i) to evaluate, assess and benchmark the Company’s operating results on a consistent and comparable basis; (ii) to measure the performance and efficiency of the Company’s ongoing core operating businesses, including the QCT, QTL and QWI segments; and (iii) to compare the performance and efficiency of these segments against each other and against competitors outside the Company. Non-GAAP measurements of the following financial data are used by the Company: revenues, cost of revenues, R&D expenses, SG&A expenses, other operating expenses, operating income (loss), net investment income (loss), income (loss) before income taxes, effective tax rate, net income (loss), diluted earnings (loss) per share, operating cash flow and free cash flow. The Company is able to assess what it believes is a more meaningful and comparable set of financial performance measures for the Company and its business segments by using Non-GAAP information. As a result, management compensation decisions and the review of executive compensation by the Compensation Committee of the Board of Directors focus primarily on Non-GAAP financial measures applicable to the Company and its business segments. The Company presents Non-GAAP financial information to provide greater transparency to investors with respect to its use of such information in financial and operational decision-making.
Non-GAAP information used by management excludes QSI, certain share-based compensation, certain acquisition-related items and certain tax items.
QSI is excluded because the Company expects to exit its strategic investments at various times, and the effects of fluctuations in the value of such investments and realized gains or losses are viewed by management as unrelated to the Company’s operational performance.
Share-based compensation expense primarily relates to restricted stock units and stock options. Certain share-based compensation is excluded because management views such expenses as unrelated to the operating activities of the Company’s ongoing core business. Further, the fair values of share-based awards are affected by factors that are variable on each grant date, which may include the Company’s stock price, stock market volatility, expected award life, risk-free interest rates and expected dividend payouts in future years.
Acquisition-related items relate to amortization and impairment charges of certain intangible assets, recognition of the step-up of inventories to fair value and the related tax effects of these items starting with acquisitions completed in the third quarter of fiscal 2011, as well as any tax effects from restructuring the ownership of such acquired assets. Additionally, starting with acquisitions completed in the fourth quarter of fiscal 2012, the Company began excluding expenses related to the termination of contract(s) that limit the use of the acquired intellectual property. These certain acquisition-related items are excluded and are not allocated to the Company’s segments because management views such expenses as unrelated to the operating activities of the Company’s ongoing core business. In addition, these charges are impacted by the size and timing of acquisitions, potentially obscuring period to period comparisons of the Company’s operating businesses.
Certain tax items that were recorded in each fiscal year presented, but that were unrelated to the fiscal year in which they were recorded, are excluded in order to provide a clearer understanding of the Company’s ongoing Non-GAAP tax rate and after tax earnings.
The Company presents free cash flow, defined as net cash provided by operating activities less capital expenditures, to facilitate an understanding of the amount of cash flow generated that is available to grow its business and to create long-term stockholder value. The Company believes that this presentation is useful in evaluating its operating performance and financial strength. In addition, management uses this measure to evaluate the Company’s performance and to compare its operating performance with other companies in the industry.
About Qualcomm
Qualcomm Incorporated (Nasdaq: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm’s licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit http://www.qualcomm.com.
Note Regarding Forward-Looking Statements
In addition to the historical information contained herein, this news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding the Company’s broad licensing partnerships and extensive chipset roadmap positioning it for strong growth; the Company’s business outlook; estimates and guidance related to revenues, GAAP and Non-GAAP diluted earnings per share, effective income tax rates, MSM chip shipments, total reported device sales, 3G/4G device average selling price ranges and 3G/4G device shipment ranges and midpoints; and the treatment of the tax credit benefit resulting from the retroactive extension of the federal R&D tax credit. Forward-looking statements are generally identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to risks associated with the commercial deployment of our technologies and our customers’ and licensees’ sales of equipment, products and services based on these technologies; competition; our dependence on a small number of customers and licensees; attacks on our licensing business model, including current and future legal proceedings and actions of governmental or quasi-governmental bodies; our dependence on third-party suppliers, including the potential impact of supply constraints; the enforcement and protection of our intellectual property rights; claims by third parties that we infringe their intellectual property; global economic conditions that impact the communications industry and the potential impact on demand for our products and our customers’ and licensees’ products; our stock price and earnings volatility; strategic transactions and investments; the commercial success of our QMT division’s display technology; foreign currency fluctuations; and failures, defects or errors in our products and services or in the products of our customers and licensees. These and other risks are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2012 and Quarterly Report on Form 10-Q for the fiscal quarter ended December 30, 2012 filed with the SEC. Our reports filed with the SEC are available on our website at http://www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.
Qualcomm, Snapdragon and MSM are trademarks of Qualcomm Incorporated, registered in the United States and other countries. All other trademarks are the property of their respective owners.

Qualcomm Incorporated

Supplemental Information for the Three Months Ended December 30, 2012

(Unaudited)

Acquisition-

Non-GAAP

Share-Based

Related

GAAP

Results

QSI

Compensation

Items (a)

Results

($ in millions, except per share data)

Cost of equipment and services revenues

$ 2,154

$ –

$ 20

$ 63

$ 2,237

R&D

949

1

156

1,106

SG&A

468

7

105

7

587

Operating income (loss)

2,447

(8)

(281)

(70)

2,088

Investment income (loss), net

$ 248

(b)

$ (9)

(c)

$ –

$ –

$ 239

Tax rate

18%

12%

22%

4%

18%

Net income (loss)

$ 2,204

$ (12)

$ (219)

$ (67)

$ 1,906

Diluted earnings (loss) per share (EPS)

$ 1.26

$ (0.01)

$ (0.12)

$ (0.04)

$ 1.09

Operating cash flow

$ 2,046

$ (10)

$ (61)

$ –

$ 1,975

Operating cash flow as % of revenues

34%

N/A

N/A

N/A

33%

Free cash flow(d)

$ 1,853

$ (22)

$ (61)

$ –

$ 1,770

Free cash flow as % of revenues

31%

N/A

N/A

N/A

29%

(a)

Included amortization and impairment charges of certain intangible assets, expense associated with the termination of a contract of an acquiree and the recognition of the step-up of inventories to fair value.

(b)

Included $164 million in interest and dividend income and $91 million in net realized gains on investments, partially offset by $4 million in other-than-temporary losses on investments, $2 million in interest expense and $1 million in losses on derivatives.

(c)

Included $6 million in other-than-temporary losses on investments, $6 million in interest expense and $3 million in equity in losses of investees, partially offset by $5 million in net realized gains on investments and $1 million in interest and dividend income.

(d)

Free cash flow is calculated as net cash provided by operating activities less capital expenditures. Reconciliation of these amounts is included in the “Reconciliation of Non-GAAP Free Cash Flows to Net Cash Provided by Operating Activities (GAAP) and Other Supplemental Disclosures” for the three months ended December 30, 2012 included herein.

N/A – Not Applicable

Sums may not equal totals due to rounding.

Qualcomm Incorporated

Reconciliation of Non-GAAP Free Cash Flows to

Net Cash Provided by Operating Activities (GAAP)

and Other Supplemental Disclosures

(In millions)

(Unaudited)

Three Months Ended December 30, 2012

Share-Based

Non-GAAP

QSI

Compensation

GAAP

Net cash provided (used) by operating activities

$ 2,046

$ (10)

$ (61)

(a)

$ 1,975

Less: capital expenditures

(193)

(12)

(205)

Free cash flow

$ 1,853

$ (22)

$ (61)

$ 1,770

Revenues

$ 6,018

$ –

$ –

$ 6,018

Free cash flow as % of revenues

31%

N/A

N/A

29%

Other supplemental cash disclosures:

Cash transfers from QSI (b)

$ 7

$ (7)

$ –

$ –

Cash transfers to QSI (c)

(103)

103

Net cash transfers

$ (96)

$ 96

$ –

$ –

Three Months Ended December 25, 2011

Share-Based

Non-GAAP

QSI

Compensation

GAAP

Net cash provided (used) by operating activities

$ 1,850

$ (48)

$ (23)

(a)

$ 1,779

Less: capital expenditures

(359)

(359)

Free cash flow

$ 1,491

$ (48)

$ (23)

$ 1,420

(a)

Incremental tax benefits from share-based compensation during the period.

(b)

Primarily cash from sale of equity securities and other investments.

(c)

Primarily funding for strategic debt and equity investments, other investing activities and QSI operating and capital expenditures.

N/A – Not Applicable

Qualcomm Incorporated

Reconciliation of Non-GAAP Tax Rates to GAAP Tax Rates (a)

(in millions)

(Unaudited)

Three Months Ended December 30, 2012

Acquisition-

Non-GAAP

Share-Based

Related

GAAP

Results

QSI

Compensation

Items

Results

Income (loss) from continuing operations
before income taxes

$ 2,695

$ (17)

$ (281)

$ (70)

$ 2,327

Income tax (expense) benefit

(491)

2

62

3

(424)

Income (loss) from continuing operations

$ 2,204

$ (15)

$ (219)

$ (67)

$ 1,903

Tax rate

18%

12%

22%

4%

18%

(a)

At fiscal year end, the sum of the quarterly tax provision (benefit) for each column equals the annual tax provision (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these provisions (benefits) may not equal the total GAAP tax provision, and this difference is allocated to tax provisions (benefits) among the columns.

Sums may not equal totals due to rounding.

Qualcomm Incorporated

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions, except per share data)

(Unaudited)

ASSETS

December 30,

September 30,

2012

2012

Current assets:

Cash and cash equivalents

$ 4,293

$ 3,807

Marketable securities

8,982

8,567

Accounts receivable, net

1,647

1,459

Inventories

1,277

1,030

Deferred tax assets

309

309

Other current assets

595

473

Total current assets

17,103

15,645

Marketable securities

15,096

14,463

Deferred tax assets

1,327

1,412

Assets held for sale

1,037

1,109

Property, plant and equipment, net

2,874

2,851

Goodwill

3,929

3,917

Other intangible assets, net

2,826

2,938

Other assets

649

677

Total assets

$ 44,841

$ 43,012

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Trade accounts payable

$ 1,657

$ 1,298

Payroll and other benefits related liabilities

618

664

Unearned revenues

733

545

Liabilities held for sale

524

1,072

Other current liabilities

1,473

1,723

Total current liabilities

5,005

5,302

Unearned revenues

3,516

3,739

Liabilities held for sale

526

Other liabilities

440

426

Total liabilities

9,487

9,467

Stockholders’ equity:

Qualcomm stockholders’ equity:

Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding

Common stock, $0.0001 par value; 6,000 shares authorized; 1,716

and 1,706 shares issued and outstanding, respectively

Paid-in capital

12,282

11,956

Retained earnings

22,172

20,701

Accumulated other comprehensive income

880

866

Total Qualcomm stockholders’ equity

35,334

33,523

Noncontrolling interests

20

22

Total stockholders’ equity

35,354

33,545

Total liabilities and stockholders’ equity

$ 44,841

$ 43,012

Qualcomm Incorporated

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share data)

(Unaudited)

Three Months Ended

December 30,

December 25,

2012

2011

Revenues:

Equipment and services

$ 4,199

$ 3,167

Licensing

1,819

1,514

Total revenues

6,018

4,681

Operating expenses:

Cost of equipment and services revenues

2,237

1,754

Research and development

1,106

873

Selling, general and administrative

587

503

Total operating expenses

3,930

3,130

Operating income

2,088

1,551

Investment income, net

239

170

Income from continuing operations before income taxes

2,327

1,721

Income tax expense

(424)

(321)

Income from continuing operations

1,903

1,400

Discontinued operations, net of income taxes

(5)

Net income

1,903

1,395

Net loss attributable to noncontrolling interests

3

6

Net income attributable to Qualcomm

$ 1,906

$ 1,401

Basic earnings per share attributable to Qualcomm:

Continuing operations

$ 1.12

$ 0.83

Discontinued operations

Net income

$ 1.12

$ 0.83

Diluted earnings per share attributable to Qualcomm:

Continuing operations

$ 1.09

$ 0.81

Discontinued operations

Net income

$ 1.09

$ 0.81

Shares used in per share calculations:

Basic

1,709

1,684

Diluted

1,751

1,721

Dividends per share announced

$ 0.250

$ 0.215

Qualcomm Incorporated

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months Ended

December 30,
2012

December 25,
2011

Operating Activities:

Net income

$ 1,903

$ 1,395

Adjustments to reconcile net income to net cash provided by

operating activities:

Depreciation and amortization

241

208

Revenues related to non-monetary exchanges

(31)

(31)

Income tax provision in excess of income tax payments

195

118

Non-cash portion of share-based compensation expense

283

247

Incremental tax benefit from share-based compensation

(61)

(23)

Net realized gains on marketable securities and other investments

(96)

(44)

Losses (gains) on derivative instruments

1

(45)

Net impairment losses on marketable securities and other investments

10

20

Other items, net

28

6

Changes in assets and liabilities, net of effects of acquisitions:

Accounts receivable, net

(185)

(38)

Inventories

(247)

50

Other assets

(51)

(24)

Trade accounts payable

376

26

Payroll, benefits and other liabilities

(387)

(43)

Unearned revenues

(4)

(43)

Net cash provided by operating activities

1,975

1,779

Investing Activities:

Capital expenditures

(205)

(359)

Purchases of available-for-sale securities

(3,289)

(2,027)

Proceeds from sale of available-for-sale securities

2,226

1,603

Purchases of trading securities

(970)

(1,137)

Proceeds from sale of trading securities

1,024

148

Acquisitions and other investments, net of cash acquired

(39)

(300)

Other items, net

26

4

Net cash used by investing activities

(1,227)

(2,068)

Financing Activities:

Proceeds from issuance of common stock

340

228

Incremental tax benefit from share-based compensation

61

23

Repurchases and retirements of common stock

(250)

(99)

Dividends paid

(428)

(362)

Change in obligation under securities lending

3

20

Other items, net

(1)

(1)

Net cash used by financing activities

(275)

(191)

Changes in cash and cash equivalents held for sale

13

Effect of exchange rate changes on cash and cash equivalents

(18)

Net increase (decrease) in cash and cash equivalents

486

(498)

Cash and cash equivalents at beginning of period

3,807

5,462

Cash and cash equivalents at end of period

$ 4,293

$ 4,964

Qualcomm Contact:
Warren Kneeshaw
Phone: 1-858-658-4813
e-mail: ir@qualcomm.com
Source: Qualcomm Incorporated

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February 1, 2013 at 10:56 am

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Introducing Xperia(TM) Z – The Best of Sony in a Premium Smartphone

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LAS VEGAS/PRNewswire/ —
Full HD 5″ Reality Display with Mobile BRAVIA Engine 2 for super brightness and clarity
Sony’s media applications deliver rich user experiences and instant access to entertainment services
Easy and fast One-touch functions to wirelessly share music, photos and videos across devices
New stand-out Sony design with water and dust resistance
Sony Mobile Communications (“Sony Mobile”) today introduces its new flagship Android smartphone, Xperia Z. With a 5″ Full HD 1080p Reality Display, Snapdragon™ S4 Pro quad-core processor, 13 megapixel fast-capture camera and 4G LTE, Xperia Z has all the specifications expected from a premium smartphone. On top of this, it brings the best of Sony’s unique technology, content, design and connectivity to deliver rich user experiences. Xperia Z will launch globally in Q1 2013.
(Photo: http://photos.prnewswire.com/prnh/20130108/586515 )
“With Xperia Z, we are bringing over half a century of innovation in TV, imaging, music, film and gaming to create a superphone experience that truly stands out,” said Kuni Suzuki, President and CEO at Sony Mobile Communications. “With great specifications, Sony’s media applications One-touch functions and outstanding battery life, Xperia Z is well positioned for leadership in the smartphone market. By putting smartphones at the heart of our strategy, Sony is enabling people to create, enjoy and share content and experiences like never before.”
Intelligent Sony Technology
Xperia Z’s razor sharp Reality Display, powered by Mobile BRAVIA® Engine 2, brings Sony’s long-standing TV expertise to the smartphone and delivers an immersive viewing experience with super brightness and clarity. The smartphone shares capabilities with Sony digital cameras and features Exmor RS for mobile, the world’s first image sensor with HDR (High Dynamic Range) video for smartphones. HDR technology gives clear images against strong backlight, so users can capture razor sharp pictures and videos whatever the conditions.
Xperia Z also includes Battery STAMINA Mode that can improve the standby time by four times or more* by automatically shutting down battery-draining apps whenever the screen is off and starting them up again when the screen is back on.
Discover, enjoy and share entertainment with Sony’s media applications and One-touch functions
Sony media applications offer a consistent entertainment experience across a range of Sony devices. Pre-loaded on Xperia Z, the “WALKMAN,” Album and Movies apps, enable discovery of online and offline content through a single access point with new ways to enjoy and share that content. The “WALKMAN” application provides access to all your downloaded music, a library of 18 million songs to explore from Music Unlimited and Facebook social integration. The Movies application gives consumers access to over 100,000 movies and TV series from Video Unlimited while the Album application enables easy access to Facebook friends’ photos as well as browsing photos by location.**
One-touch functions enable consumers to easily share music, photos and videos from their smartphone to an array of NFC-enabled Sony devices, including speakers, headphones and now TVs. With the new BRAVIA TV, also announced today, simply touch Xperia Z to the remote control of the TV to instantly enjoy your photos and videos on the big screen.
Two additions to Sony’s range of NFC-enabled headsets were also introduced today, the Stereo Bluetooth™ Headset SBH20 and the Wireless Headset DR-BTN200M. Touch Xperia Z to either headset and begin listening to tracks instantly.
Stand-out design and durability
Precision engineered with premium materials, Xperia Z introduces a unique OmniBalance design with subtly rounded edges and smooth reflective surfaces on all sides. Despite its slim 7.9mm body, Xperia Z is highly durable with tempered glass and anti-shatter film on the front and back, as well as the highest levels of dust and water resistance*** (IP55 and IP57) found in a premium smartphone.
In selected markets, a design variant of Xperia Z – Xperia ZL – will also be released in Q1 2013. Xperia ZL delivers the same immersive entertainment experiences as Xperia Z but in a smaller form factor.
Xperia Z and Xperia ZL will launch on Android 4.1 (Jelly Bean) and will be upgraded to 4.2 shortly after launch for the latest Android user experience.
Key features for Xperia Z
5″ 1080 x 1920p full HD Reality Display with Mobile BRAVIA® Engine 2
13MP Fast Capture camera with Exmor RS for mobile, HDR video, Superior Auto and Noise Reduction to effortlessly capture razor sharp pictures and videos in any conditions
Dust and water resistant (IP55 & IP57) with a durable glass display
1.5 GHz asynchronous quad-core Snapdragon S4 processor with 2GB RAM
Battery STAMINA mode improves standby time by at least 4 times
* Based on testing done with default settings, default accounts and applications for Skype™ and Twitter downloaded to the phone. The more applications installed, the bigger the effect of Battery STAMINA Mode.
**Sony Entertainment Network services are subject to availability by region, please see http://www.sonyentertainmentnetwork.com for more details.
*** In compliance with IP55 and IP57, Xperia Z is protected against the ingress of dust and is water resistant. Provided that all ports and covers are firmly closed, the phone is (i) protected against low pressure jets of water from all practicable directions in compliance with IP 55; and/or (ii) can be kept under 1 meter of freshwater for up to 30 minutes in compliance with IP 57.
About Sony Mobile Communications
Sony Mobile Communications is a subsidiary of Tokyo-based Sony Corporation, a leading global innovator of audio, video, game, communications, key device and information technology products for both the consumer and professional markets. With its music, pictures, computer entertainment and online businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Through its Xperia™ smartphone portfolio, Sony Mobile Communications delivers the best of Sony technology, premium content and services, and easy connectivity to Sony’s world of networked entertainment experiences. For more information: http://www.sonymobile.com
Legal
1) Facts and features may vary depending on local variant. 2) Operational times are affected by network preferences, type of SIM card, connected accessories and various activities e.g. playing games. Kit contents and colour options may differ from market to market. The full range of accessories may not be available in every market. 3) Icons displayed are for illustrative purposes only. The homescreen may appear different in your product. Some features may not be available in your country or area.
Sony, make.believe, WALKMAN, WALKMAN W logo, Sony Entertainment Network, PlayMemories Online, Exmor RS, Clear phase, BRAVIA, and xLoud are trademarks or registered trademarks of Sony Corporation. Xperia, Xperia Z, Xperia ZL PlayNow, SensMe, and TrackID are trademarks or registered trademarks of Sony Mobile Communications AB. PlayStation is a trademark or registered trademark of Sony Computer Entertainment. Media Go is a trademark of Sony Electronics. Android, Google Play, Google Chrome, Google Voice, Latitude, YouTube, Google Maps and Google Mail are trademarks of Google Inc. Snapdragon is a trademark of Qualcomm Incorporated. Twitter is a trademark or registered trademark of Twitter, Inc. Facebook is a trademark or registered trademark of Facebook, Inc. Microsoft ActiveSync is a trademark or registered trademark of Microsoft, Inc. Bluetooth is a trademark or registered trademark, and any use of such mark is under license by Sony Mobile. Neoreader is a trademark or registered trademark of NeoMedia Technologies Inc. microSD is a trademark or registered trademark of SanDisk Corporation. eCompass is a trademark or registered trademark of Genoptix, Inc. Wi-Fi is a registered trademark of the Wi-Fi Alliance. DLNA Certified is a trademark or registered trademark of the Digital Living Network Alliance. SyncML is a trademark or registered trademark of the Open Mobile Alliance. Skype is a trademark or registered trademark of Skype, Ltd. LTE is a trademark or a registered trademark of ETSI. Other product and company names mentioned herein may be the trademarks of their respective owners. Any rights not expressly granted herein are reserved. All terms are subject to change without prior notice.
Additional information regarding trademarks may be located on our website at: http://www.sonymobile.com/global-en/legal/trademarks-and-copyright/.
Xperia Z specifications. All services mentioned in this leaflet may not be available in every market.

Colours
Black
Purple
White

Facts
Size: 139x71x7.9 mm
Weight: 146 grams
1.5 GHz Qualcomm APQ8064+MDM9215M Quad Core
Adreno 320
Google(TM) Android(TM) 4.1 (Jelly Bean)

Camera
13.1 megapixel camera
16x digital zoom
Auto focus
Burst Mode
HDR for both picture/movie
Face detection
Flash/Pulsed LED
Flash/Photo light
Front-facing camera 2.1MP (1080p video)
Geotagging
HD video recording (1080p)
Image stabiliser
Object tracking
Picture Effect
Quick Launch
Red-eye reduction
Scene recognition
Self-timer
Send to web
Smile detection
Sony Exmor RS(R) for mobile image sensor
Superior Auto
Sweep Panorama
Touch capture
Touch focus
White balance

Music
3D Surround Sound (VPT)
Album art
Bluetooth(TM) stereo (A2DP)
ClearAudio+
Clear bass
Clear Phase(TM)
Clear stereo
Dynamic normalizer
Music tones (MP3/AAC)
PlayNow(TM) service*
SensMe(TM)
TrackID(TM) music recognition*
“WALKMAN” application
xLoud(TM) Experience

Internet Bookmarks
Google Chrome(TM)
Google Play(TM)
Google(TM) search*
Google Voice(TM) Search*
Google Maps(TM) for Mobile with
Street view and Latitude(TM)*
NeoReader(TM) barcode scanner
Pan & zoom
Web browser (WebKit(TM)

Communication
Call list
Facebook(TM) application*
Google Talk(TM) application*
Noise suppression
Polyphonic ringtones
Speakerphone
Twitter(TM)*

Messaging
Conversations
Email
Google Mail(TM)*
Handwriting recognition
Instant messaging
Multimedia messaging (MMS)
Predictive text input
Sound recorder
Text messaging (SMS)
Voice input

Design
Auto rotation
Face Unlock
Gesture input
IP57 (Water-resistant) & IP55 (Dust-proof)
On-screen QWERTY keyboard
Sensor on Lens Display
Screenshot capturing
Throw
Touch screen
Wallpaper
Wide color gamut

Entertainment
3D games
Media browser
Motion gaming
PlayStation(R) Certified
Radio (FM radio with RDS)
Sony Entertainment Network*
TV launcher
Video streaming
YouTube(TM)*

Organiser
Airplane mode
Alarm clock
Calculator
Calendar
Contacts
Document readers
eCompass(TM)
Infinite button
Notes
Setup guide
Stopwatch
Tasks
Timer

Connectivity
3.5 mm audio jack (CTIA)
aGPS*
Bluetooth(TM) 4.0 wireless technology
DLNA Certified(R)
GLONASS*
HDMI via MHL support
Media Go(TM)
Media Transfer Protocol support
Micro USB support
Native USB tethering
NFC
PC Companion
Screen mirroring
Synchronisation via Exchange
ActiveSync(R)
Synchronisation via Facebook(TM)
Synchronisation via Google(TM)
Synchronisation via SyncML(TM)
USB charging
USB High speed 2.0 support
Xperia(TM) Link
Wi-Fi(R)
Wi-Fi(R) Hotspot functionality

Display
16,777,216 colour TFT HD Reality Display with Sony
Mobile BRAVIA(R) Engine 2
1920×1080 pixels
5.0 inches
Shatter proof sheet on scratch-resistant glass

Memory
2 GB RAM
Up to 16 GB*
microSD(TM) card, memory card slot (supporting up
to 32GB)

Networks
UMTS HSPA+ 850 (Band V), 900 (Band VIII), 2100
(Band I) MHz
GSM GPRS/EDGE 850, 900, 1800, 1900 MHz
LTE (Bands 1, 3, 5, 7, 8, 20)

Battery life
Talk time GSM: Up to 11 hrs*
Standby time GSM: Up to 550 hrs*
Talk time UMTS: Up to 14 hrs*
Standby time UMTS: Up to 530 hrs*
Standby time LTE: Up to 510 hrs*
Music listening time: Up to 40 hrs
Video playback time: Up to 5.5 hrs
Battery: 2330 mAh minimum

*Values are according to GSM Association Battery Life Measurement Technique. Battery performance may vary depending on network conditions and configurations, and phone usage.

In the kit
Xperia(TM) Z, embedded battery
Sony MH-EX300AP headset
Charger
Micro USB cable for charging, synchronization and file transfer
User documentation.
For media information, please contact:
For more information, images and videos please visit: http://www.sonymobile.com/pressreleases
Sony Mobile Communications, Global Communications & PR department
General Press: +44-208-762-5858

Source: Sony Mobile Communications

Written by asiafreshnews

January 9, 2013 at 10:29 am

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7th China Software and Sourcing Summit to Explore New Paths Forward and Find Advantages in New Global Dynamic

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Oct. 31 – Nov. 2 Summit to Connect Global Industry Leaders, Entrepreneurs With Dynamic Chinese Outsourcing Market
XI’AN, China /PRNewswire/ — As business opportunities in China have become increasingly relevant to today’s global economy, the 7th China Software & Sourcing Summit offers participants a prime opportunity for access and insight into the dynamic workings of the Chinese outsourcing industry. One of the biggest events of the year organized by Shaanxi Province Government and supported by the China Ministry of Commerce, China Ministry of Industry and Information Technology, the summit will bring together global entrepreneurs, high-level government officials, experts from China’s leading academic and research institutions, and top executives from multi-national companies in the US, Europe, Japan, and Korea. Attendees will be treated to a highly-anticipated lineup of speakers which includes Guenter Krieger, CIO of BMW Brilliance Automotive; Randy Mott, CIO of General Motors, Chris Kaisand, VP of AIG; Simon Lake, Commercial Director of CLS Services; Eliza Kwok, Managing Director of BT China; Michael P. Connors, Chairman & CEO of ISG, Thomas E. Mead CEO of Globalization Today; together with influential officials from the China Ministry of Commerce (MOC) and the China Ministry of Industry and Information Technology (MIIT); and Mr. Ni Guangnan, a senior fellow from the Chinese Academy of Engineering will address this year’s keynote.
Themed “Finding Advantage in a Dynamic Global Market”, this year’s conference will “take the pulse of the outsourcing industry” and explore new paths forward in the wake of the financial crisis. Presentations, breakout sessions, and exhibitions will emphasize several of the hottest themes in technology, including cloud computing and mobile Internet development. Attendees will be able to participate in the world premiere of the Mobile Internet Developer Competition, a global contest series that will launch in Xi’an. Finally, attendees will have the chance to witness a historic event at this year’s summit: the signing of the Xi’an-Shannon Strategic Cooperation Agreement, marking a partnership between two giants in the software park industry, the Xi’an Software Park and the Shannon Software Park in Ireland. Throughout the conference, participants will enjoy the benefits of continual networking opportunities and unparalleled access to new business openings in the Chinese market, and experience firsthand Xi’an’s enormous potential as a global innovator for software outsourcing and R&D.
The Xi’an High-Tech Zone is currently the biggest driver of economic growth in the city of Xi’an. This zone currently hosts leaders in China’s electronic, manufacturing, and biomedical industries, as well as major international companies like Samsung Electric, Schneider, etc. As recently as on September 12th 2012, Samsung Electronics Co. launched a new USD $7 billion manufacturing facility in the Xi’an High-Tech Zone, which marks the company’s biggest investment in China to date. The Xi’an Software Park, located inside of the High-Tech zone and home to 1,090 IT enterprises and over 100,000 employees, is one of the major IT centers in China.
The city of Xi’an itself is at the heart of the recent technology boom in China. While it is the biggest city in northwestern China, it has a remarkably low cost of living; it also has one of the highest percentages of university talent in its population nationwide. Visitors will be able to experience all of Xi’an’s rich offerings for themselves at the conference. From the famed terracotta warriors to the picturesque Datang Furong Dynasty Garden, Xi’an’s many cultural treasures are only a short ride away from the conference hotel.
For more information, visit http://www.xasoftware-summit.com/ or http://serviceoutsourcing2china.com/.
Source: Xi’an Software Park

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October 16, 2012 at 11:47 am

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11th Edition of Asia Game Show is Back in Hong Kong

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Asia’s largest, most anticipated video game event of the year!
HONG KONG /PRNewswire/ — The 11th Annual edition of the Asia Game show is the largest interactive video entertainment tradeshow for the consumer marketplace in Asia showcasing the region’s latest product innovations and the coolest new and upcoming video games. It is Hong Kong’s most anticipated event of the year as more than 470,000 enthusiasts are expected to flood this year’s event.
The 2012 event will take place at the Hong Kong Convention and Exhibition Centre from Dec. 21-24. It is expected to be bigger, better and electrifying. 8000sqm space of a fantasy world with electronic entertainment that is intended to occupy gaming enthusiasts over four days of mind blowing nirvana! Some of Asia’s well known Entertainment Industry Celebrities will be in attendance.
Asia Game Show 2012 is where dreams really do come true, as consumers snapped up nearly HK$30million in products to stimulate all of their video game senses over the four day period, last year. “That number is expected to rise significantly,” said Charlie Greco, Executive Director of MP International; “because this is a whole New Edition of AGS as many more of the top suppliers are increasing their presence in an effort to take advantage of the phenomenal spending power;” he said.
This year, for the first time will be a number of “Indie” Game Developers as the show is supported and endorsed by the Hong Kong Game Development Association (HKGDA) as well as local universities and academic institutions. “We are very excited about our role as the event’s Association Sponsor,” said Ken Chan, Founder and Chairman of HKGDA. “There is a major effort underway to make AGS a more valuable experience for game and technology developers to network and do business, and this is very important for our members. We will have a major presence at this year’s event,” he said.
“Hong Kong’s IVE IT Discipline has also increased its presence at the upcoming event,” says Dr. Andy Lai Senior Lecturer, Department of Information & Communications Technology. “Our institution continues to graduate each year some of the brightest minds in game software and many are seeking electronic entertainment as a career opportunity,” he said.
About the organizer
MPI is an internationally recognized Tradeshow and Conference Management organization with more than 25 years of experience in every facet of event management. The MPI team has decades of experience with all the aspects of creating and managing successful shows, including sales, exhibitor and attendee marketing, conference content development, logistics, facility management, and housing. We have produced a diverse portfolio of tradeshows. Our record and reputation stands for integrity. For more information, contact iris.kwan@mphk.com
Press contact:
Iris Kwan
MP international (Asia Pacific) Ltd.
Tel: +852-26604576
Email: iris.kwan@mphk.com.hk
Source: MP International (Asia Pacific) Ltd.

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October 5, 2012 at 3:37 pm

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StarHub Launches APPVisor, the Best Way to Find Apps in Singapore, with Search Powered by Quixey

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Quixey, The Leader in App Search Goes Global to Improve the App Search Experience for Consumers in Singapore
MOUNTAIN VIEW, Calif. /PRNewswire/ — Quixey, The Search Engine for Apps, today announced that it has been selected by StarHub, one of Singapore’s most innovative info-communication companies, to help people easily discover apps through StarHub’s new APPvisor Android app. The app leverages Quixey’s world-class app search technology to deliver Singapore’s best app discovery experience. Users in Singapore can finally find the right apps to meet their needs among the hundreds of thousands of Android apps. APPvisor is now available to all customers for free on Google Play, regardless of which mobile service provider they are connected to.

Quixey, The Leader in App Search Goes Global to Improve the App Search Experience for Consumers in Singapore.
Leveraging Quixey’s Functional SearchTM technology, APPvisor allows people to describe what they want to do, and returns apps that can help. Users can search for anything ranging from, “games for 3 year olds,” to “track my workouts and my nutrition” and “listen to music.” Rather than looking for a keyword match, Quixey finds apps that match users’ needs. Furthermore, StarHub and Quixey worked together to provide a recommendation feature that recommends interesting and locally relevant search queries. APPvisor also features Singapore’s online personalities and allows them to recommend their favorite apps.
“With over 600,000 apps on Google Play, we know that searching for the relevant mobile apps can be challenging and time consuming. To help Android smartphone fans discover apps easily, StarHub is pleased to launch APPvisor, an Android app powered by Quixey that recommends apps relevant to the local audience.” said Mr Stephen Lee, Assistant Vice President of Advanced Multimedia Services, StarHub. “APPvisor offers all Android fans access to Quixey’s powerful app search engine that provides them with the most convenient way of discovering, shopping for and enjoying apps relevant to their needs and lifestyle. In addition, users of APPvisor can get their weekly dose of app recommendations from StarHub and our celebrity APPvisors, mrbrown and Techgoondu. In future months, we will continue to release exciting new features for APPvisor.”
Quixey’s selection by StarHub marks the beginning of a symbiotic relationship that brings the best app search user experience to Singapore consumers while expanding Quixey’s reach to Southeast Asia.
“Our goal is to instantly connect people around the world with the right apps,” said Tomer Kagan, Quixey CEO. “Asia is an attractive market for Quixey because of the large population of mobile users and the high app engagement rates. We look forward to helping make APPvisor a success and creating more products that improve app discovery worldwide.”
About Quixey
Quixey is The Search Engine for Apps-searching mobile, desktop, web and browser apps. Quixey invented a new type of search Functional SearchTM that allows users to find apps by searching for what they want to do, without having to know the app’s name. Quixey partners with major app stores, search engines, manufacturers, carriers and web platforms to power app search globally. For more information, please visit http://www.quixey.com
About StarHub
StarHub is Singapore’s fully-integrated info-communications company, offering a full range of information, communications and entertainment services for both consumer and corporate markets. StarHub operates a HSPA+ mobile network that delivers up to 42Mbps for downlink to complement its nationwide GSM network, and an LTE network that provides connection speeds of up to 75Mbps in key business areas. It also manages an island-wide HFC network that delivers multi-channel pay TV services (including HDTV, Internet TV and on-demand services) as well as ultra-high speed residential broadband services. StarHub operates an extensive fixed business network that provides a wide range of data, voice and wholesale services. Over Singapore’s fibre-based Next Generation Nationwide Broadband Network, StarHub offers a broad range of home and business broadband plans along with a host of advanced media-rich value-added services.
Launched in 2000, StarHub has become one of Singapore’s most innovative info-communications providers, and the pioneer in ‘hubbing’ – the ability to deliver unique integrated and converged services to all its customers. StarHub, listed on the main board of the Singapore Exchange since October 2004, is a component stock of the Straits Times Index and the MSCI Singapore Free Index. For more information, please visit http://www.starhub.com.
Media Contact:
Julia Lipton
Quixey
206.817.0090
press@quixey.com
Lowell Eschen
Burson-Marsteller for Quixey
212.614.4081
Lowell.Eschen@bm.com
Source: Quixey

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October 4, 2012 at 10:49 am

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New Stratus Server Line Bolsters Downtime-fighting Technology with Intel E5 Processor Speed, Power and Performance

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Sixth-gen ftServer systems protect critical applications with uptime reliability greater than 99.999%
MAYNARD, Mass. /PRNewswire/ — In the escalating battle to protect critical business applications against the pains of IT system downtime and data loss, Stratus Technologies today launched an entirely new arsenal of server systems specifically engineered for superior high availability and operational simplicity.
The Stratus® ftServer® family, which extends from entry-level departmental servers to enterprise-class systems, runs Windows 2008 R2, Red Hat Enterprise Linux, and virtualization workloads with less than two minutes of unplanned downtime per year on average in continuous operation. Now in its sixth generation with more than a decade of field-proven uptime reliability, the new ftServer line consists of three highly configurable, Intel Xeon E5 processor-based models that protect critical business operations from outages at prices matched to any IT systems budget.
ftServer 2700 system: the value model is low cost and ideal for volume deployments in remote locations, lights-out management, and as a fault-tolerant replacement for ordinary servers or low-end clusters.
ftServer 4700 system: the adaptable model is a flexible mid-range server with many configuration options, making it suitable for a wide range of applications; takes full advantage of Intel QuickPath technology to boost systems performance, bandwidth, and reliability.
ftServer 6400 system: the performance model is a 16-core workhorse for enterprise-class applications and transaction-intensive data center workloads, such as server virtualization, database engine, electronic funds transfer, online banking, supply chain, and cloud computing.
“We don’t have to worry about providing the high availability that our UK ambulance service customers demand; ftServer does that admirably,” said Mark Appleyard, MIS Emergency Systems, a provider of command and control systems for emergency dispatch operations and ftServer beta system evaluator. “We appreciate the simplicity of the solution, unlike the clustered server products we’ve used in the past, which require additional maintenance, configuration and testing of the applications.”
New models deliver up to four times more processing performance than the previous generation. For the first time, systems may be configured with internal solid-state disk drives alone or in combination with high-density disks in the same chassis. All ftServer models are available now.
Downtime Prevention
Within a standard enclosure, fully redundant server technology predicts and prevents downtime from occurring, riding through and resolving issues that can cause failover, data loss, and virtual-machine and application restarts in other uptime solutions. Yet, ftServer systems are more cost effective over the life of the application, and are as easy to deploy, manage, and maintain as ordinary x86 servers.
“To achieve sustained competitive advantage, financial institutions demand ultra-high performance, reliability and scalability from their software and hardware solutions,” said Karen T. Cone, general manager, Worldwide Financial Services at Microsoft Corp. “Stratus has consistently made its mark in supporting the most demanding mission-critical workloads with Microsoft for more than twelve years and, as its latest implementation of server technology shows, it remains at the top of its game.”
Software, Hardware, Service Work Together
ftServer systems’ remote monitoring and management services via the Stratus ActiveService™ network work in concert with the server’s resilient software and hardware to deliver industry-leading uptime assurance. The average server downtime in 2011 for the global installed base of systems under service contract was 81 seconds. Daily updates to the Stratus online Uptime Meter(SM) display show current uptime levels, a performance metric that only Stratus publically displays.
“If unplanned downtime of your critical IT systems is not an option, then your best option for protecting them is products and services from Stratus Technologies,” said Dave LeClair, director of product management and marketing for Stratus. “This new ftServer line brings to bear the full power and performance of Intel’s most current multi-core processor technology. These servers interoperate seamlessly with any IT infrastructure while, at the same time, relieving IT staff from the management headaches and worry typical of other vendors’ high availability product offerings.”
For more details on Stratus’ next-generation downtime prevention solutions, visit http://www.stratus.com or call +1-800-STRATUS.
About Stratus Technologies
Stratus delivers the world’s only proactive “uptime assurance” guarantee for the platforms that run the most vital functions of business, healthcare, manufacturing and government. Combining its resilient software and hardware technologies with thirty years of unparalleled remote monitoring and management expertise for availability, Stratus helps save lives and protect the business and reputations of companies, institutions, and governments the world over. To learn more about worry-free computing, visit http://www.stratus.com.
© 2012 Stratus Technologies Bermuda Ltd. All rights reserved.
Stratus and ftServer are registered trademarks of Stratus Technologies Bermuda Ltd. The Stratus Technologies logo and ActiveService are trademarks of Stratus Technologies Bermuda Ltd. Uptime Meter is a service mark of Stratus Technologies Bermuda Ltd. All other marks are the property of their respective owners.
Media Contacts:
Ms. Bee Yiu
Stratus Technologies AP
Suite 901, 9/F., Ocean Centre,
Harbour City, Tsim Sha Tsui,
Kowloon, Hong Kong
Tel: +852-2844-5200
Email: ap.enquiry@stratus.com
http://www.stratus.com
Source: Stratus Technologies (HK) Ltd

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September 13, 2012 at 11:29 am

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Infosys to Acquire Lodestone, a Leading Management Consultancy Firm

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ZURICH and BANGALORE, India /PRNewswire/ —
Strengthens Infosys management consulting capabilities globally
Expands presence in continental Europe adding more than 750 experienced consultants and 200 clients
Deepens expertise across Manufacturing, Automotive and Life Sciences industries
Infosys Consulting practice focusing on SAP programs to become a $1 Billion powerhouse
Infosys, a global leader in consulting and technology, today announced a definitive agreement to acquire Lodestone Holding AG, a leading global management consultancy firm for an aggregate enterprise value of CHF 330 Million in cash. Headquartered in Zurich, Lodestone advises international companies on strategy and process optimization, and provides business transformation solutions enabled by SAP. The combination of the breadth of capabilities delivered by Infosys and Lodestone’s deep experience of driving transformational change, is expected to provide clients across the two companies, a world-class team to accelerate transformation and innovation led growth.
Upon completion, the acquisition of Lodestone will strengthen Infosys Consulting and Systems Integration (C&SI) capabilities, by bringing more than 850 employees, including 750 experienced SAP consultants to the company. Lodestone will add more than 200 clients across industries including Manufacturing, Automotive and Life Sciences, to the Infosys pool of over 700 clients. Post-acquisition, the combined Consulting practice focusing on SAP programs will deliver revenues of more than $1 Billion, firmly establishing Infosys amongst the global leaders in SAP consulting.
Infosys Consulting & Systems Integration business, today, has more than 30,000 consultants across 10 industry verticals and accounts for 31% of the company’s revenue. The Lodestone acquisition will significantly enhance its global presence, particularly in continental Europe and emerging markets like Latin America and Asia Pacific. Further, Lodestone’s clients will get ready access to the scale and global reach of Infosys, in addition to a broad spectrum of capabilities across consulting, systems integration and outsourcing.
Commenting on the transaction Mr. S. D. Shibulal, CEO & Managing Director, Infosys said, “A key plank of our Infosys 3.0 strategy is to expand our Consulting & Systems Integration business. This acquisition fits perfectly into that strategy. Lodestone and Infosys share a culture of unwavering focus on nurturing and maintaining client trust. I look forward to welcoming Ronald, his experienced leadership team and Lodestone’s team of top-notch consultants to Infosys.”
Mr. Ronald Hafner, Chairman and CEO, Lodestone added, “Our clients entrust us with their most important business and technology transformation initiatives. We are eager to leverage the widely acknowledged global reach of Infosys and its leadership in the consulting and technology arena to deliver greater value to our clients. This will enhance the momentum that Lodestone is already witnessing in the marketplace. A common passion for delivering client value will strengthen this partnership even further.”
The transaction is currently expected to close by the end of October 2012, subject to customary closing conditions.
Linklaters LLP is acting as legal advisor to Infosys. UBS AG is acting as financial advisor and Baker & McKenzie is acting as legal advisor to Lodestone.
About Infosys
Infosys partners with global enterprises to drive their innovation-led growth. That’s why Forbes ranked Infosys 19 among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow’s Enterprise® today.
About Lodestone
Lodestone Holding AG, headquartered in Zurich, is a global consulting firm advising international companies on strategy and process optimization as well as IT transformation. With a value-integration approach, Lodestone pursues a value-adding combination of management and IT consulting. Founded in 2005, the firm has grown to more than 850 employees (thereof around 750 consultants) in 17 countries on five continents. Lodestone’s advisory services are primarily geared to the life science, chemical and financial services industries as well as the investment, automotive and consumer goods sectors.
For further information, please visit http://www.lodestonemc.com
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, which statements include those regarding the expected closing date of the proposed acquisition, Infosys’ expectations regarding the business, products and prospects of the combined company, and Infosys’ expectations regarding the impact of the proposed acquisition. The statements contained in this press release that are not purely historical are forward-looking statements and include, without limitation, statements regarding our expectations, beliefs, intentions or strategies regarding the future. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. These statements are based on the current expectations or beliefs of management of Infosys and are subject to uncertainty and changes in circumstances that, if they were to never materialize or prove incorrect, could cause actual results to differ materially from those projected, expressed or implied in the forward-looking statements. Factors that could cause actual results or outcomes to be materially different from those anticipated in this press release include, among others, the inability to obtain necessary regulatory approvals for the proposed acquisition or to obtain them on acceptable terms; the risk that the Agreement is terminated; the inability of Infosys or Lodestone to satisfy the conditions to the closing of the proposed acquisition; the inability of Infosys to successfully integrate Lodestone and its services, employees and customers; and any disruptions in the market for the products and services of Infosys and Lodestone. Additional risks that could affect these forward-looking statements are more fully described in Infosys’ filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended March 31, 2012, and its subsequent filings on Form 6-K. These filings are available at http://www.sec.gov. Infosys does not undertake to update any forward-looking statements.
Details of Press Conference
Infosys will host a press conference on September 10, 2012 at 12:45 p.m. IST at the Infosys Headquarters, Electronics City, Bangalore.
Source: Infosys Ltd

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September 11, 2012 at 4:03 pm

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