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Swiss watchmaker Omega defies e-commerce boom by expanding physical stores network in China

At a time most retailers are turning to digital channels to stay competitive, one Swiss luxury watchmaker is doing things differently.Omega is sticking with good old-fashioned physical shops to underpin its expansion in China even as e-commerce takes the industry by storm.“Sometimes [luxury shopping] is about waiting and longing for the product and experiencing the build-up of emotions as you personally visit the store and touch the product itself,” said Raynald Aeschlimann, president and CEO… Source link

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Huawei’s first quarter revenue increases 39 per cent as it keeps focus on network gear, smart devices

Huawei Technologies, the world’s largest telecoms equipment vendor and a top 3 smartphone brand, said it registered strong growth in all business segments in the first three months this year, indicating resilience in the face of US pressure to curtail its participation in the roll out of global 5G network infrastructure.Huawei generated revenue of 179.7 billion yuan (US$26.8 billion), an increase of 39 per cent year-on-year. The company’s net profit margin in the first quarter was about 8 per… Source link

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Vietnam 

Development of digital economy requires national strategy for network security – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Representative of a company introduces a security solution to visitors at the Vietnam Security Summit 2019 in Hà Nội. — Photo courtersy of the event organiser     HÀ NỘI – Việt Nam’s digital economy has progressed rapidly in recent years, but challenges in network security require the country to build a comprehensive national strategy to address network vulnerabilities. Việt Nam’s internet economy reached US$9 billion in 2018, making up 4 per cent of Việt Nam’s gross domestic product (GDP) and tripling that of 2015, and…

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Sweden’s Ericsson under investigation in China over licensing issues amid 5G network roll-outs

Swedish telecommunications equipment giant Ericsson said on Tuesday that China’s market regulator was investigating the company over licensing issues, as countries around the world prepare to roll out next-generation 5G mobile networks.China’s State Administration of Market Regulation is investigating the firm because of complaints against its intellectual property rights licensing in the country, a spokesman for Ericsson told Agence France-Presse.The telecoms gear maker earns about seven per… Source link

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Vietnam 

Vietjet expands international network – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The inaugural ceremony for the commercial launch of Hong Kong – Phú Quốc route. — VNS  Photo HONG KONG — Low-cost carrier Vietjet on Tuesday announced its operation plan for the Hong Kong market and the launch of a new route linking Phú Quốc and Hong Kong, one of Asia’s most well-known destinations. The Phú Quốc – Hong Kong route will operate return flights with a frequency of four flights per week, starting from April 19. With a flight time of two hours and 45 minutes per leg, the flight will…

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Singapore 

Singapore Tourism Board suspends Asian Travels Network licence for breaching travel agent regulations, Singapore News

SINGAPORE – The Singapore Tourism Board (STB) has suspended the licence of local travel agent Asian Travels Network for breaching industry regulations. The suspension, which took effect last Thursday (April 4), means that the agency will not be allowed to accept new travel bookings. However, it is still required to fulfil any existing obligations to its customers. In a statement on Wednesday, the STB said Asian Travels Network had failed to submit its audited statement of accounts within six months of the end of its financial year. The STB said…

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Huawei to restructure traditional network gear business after surging smartphones sales take the spotlight

Huawei Technologies plans to reform its traditional network equipment business after its consumer products group became the biggest contributor to record sales last year, part of an ambitious goal of tripling total group revenue within five years.The world’s No 1 telecoms equipment provider will focus on reforming its carrier business unit this year because that business segment has “first and foremost” been under attack by the US, Huawei founder and chief executive Ren Zhengfei said in an… Source link

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US braces for future 5G world largely built with mobile network gear from China’s Huawei

US national security officials are planning for a future in which the Chinese firm Huawei Technologies will have a major share of the advanced global telecommunications market, and have begun to think about how to thwart potential espionage and disruptive cyberattacks enabled by interconnected networks.“We are going to have to figure out a way in a 5G world that we’re able to manage the risks in a diverse network that includes technology that we can’t trust,” said Sue Gordon, the deputy to the… Source link

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Embattled pay TV operator i-Cable makes another attempt to turn around a decade of losses with Guangdong network tie-up

I-Cable Communications, Hong Kong’s biggest pay TV operator, on Tuesday formalised a partnership with Guangdong Radio and Television (GRT) that will allow it to air programmes to the Chinese TV group’s customers.But analysts are circumspect about the benefits of the tie-up on i-Cable’s bottom line, saying it is unlikely to yield any long-term “material” benefit.Irene Leung Shuk-yee, chief operating officer of i-Cable, said that the deal with GRT also involves joint production of TV shows,… Source link

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Vietnam 

Hà Nội proposes tightened management of social network businesses – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under stricter management. — Photo vietbao.vn Viet Nam News HÀ NỘI — The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under the same management as e-commerce websites. E-commerce websites that violate regulations may be shut down under the law and have their domain names revoked. In addition, there should be close co-ordination between…

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