Hyundai skipping Tokyo Motor Show 2009
South Korean automaker Hyundai has announced that they have decided to skip the Tokyo Motor Show 2009.
The company did not give any official reason for this decision but it looks like one of their cost cutting measures.
Hyundai had in fact paid the $122,000 non-refundable fee for a [...]
China Unicom to acquire back stake from SK Telecom
China Unicom has announced that they are going to buy back stake now owned by SK Telecom.
This deal would be worth around US$1.29 billion.
China Unicom Chairman Chang Xiaobing spoke about this deal: “After the share repurchase, China Unicom will be pleased to maintain the sound [...]
Hyundai Sonata updated. Now has a hybrid version.
South Korean automaker Hyundai has launched the latest edition of their Sonata mid-sized sedan.
This new updated range now includes a hybrid version as the company aims to compete with the best in the global market.
Market analysts believe that the company needs to improve its image globally to [...]
Hyundai Equus coming to US market next year
South Korean automaker Hyundai has announced that they would launch their premium segment sedan Equus in the US market next year.
This model is already on sale in the company’s home market.
Hyundai is currently offering their Azera and Genesis sedans in this segment of the market in [...]
Sprint Nextel acquiring Virgin Mobile USA
US based telecom giant Sprint Nextel has announced that they are acquiring Virgin Mobile USA.
The deal is worth around $483 million.
With this, Sprint would expand their presence in the prepaid mobile services segment in the US market.
The company added that they would retain the Virgin Mobile for the time [...]
Ericsson to invest heavily in South Korean market
Swedish telecom company Ericsson has announced that they are going to invest around USD 1.5 billion in the South Korean market in the coming years.
They are going to set up a research centre in South Korea which would focus on developing environmentally-friendly and fourth-generation telecommunications technologies.
They [...]
eBay gets approval to acquire Gmarket
US based ecommerce company eBay has received approval from the South Korea’s antitrust watchdog to acquire Gmarket.
The approval came with certain conditions like commission freeze for the next three years.
The deal would enable eBay to become a major player in South Korea’s online shopping market.
eBay is acquiring Gmarket [...]
eBay acquires controlling stake in Gmarket
US based online auction industry giant eBay has announced that they are now acquiring a controlling stake in South Korean online retailer Gmarket.
The deal is worth around $413 million which comes to a premium of 32.5 percent at current market price of the company.
With this, eBay gets to become [...]
LG Electronics to cut expenses massively to stay competitive
South Korean consumer electronics giant LG Electronics has announced that they are working on plans to cut $2.2 billion in costs.
LG also said that they expect around a 20 percent sales decline in dollar terms this year mainly due to struggling economy.
The company however said that [...]
LG Electronics posts a 4th quarter net loss
South Korean tech giant LG Electronics has also posted a 4th quarter net loss.
The company suffered from slowing down sales of TVs. LG also had to pay a hefty price-fixing fine put on their LG Display division.
LG has posted a loss of 671.3 billion won in [...]
