Financial

Verizon touted improving wireless service revenue trends, despite the figure dropping 5. 1 per cent year-on-year in Q3, as operating income and EBITDA at the mobile business remained largely flat. The operator generated $15.

Chinese vendor ZTE announced results which showed solid growth for its infrastructure business, including mobile network sales, although its handset unit was hit by weakness in its home market.

Lenovo will make large-scale job cuts as it looks to build “the right business model, cost structure and competitive foundation” in markets including mobile.

Telecom Italia said it will “continue to defend its market shares and invest in the development of infrastructures,” as it continues to battle tough conditions both in its home market and Brazil.

VimpelCom reported an “improving” set of quarterly results, which it said “put the company on track to meet the 2015 targets”, although it is still seeing revenue pressure across its units.

African operator group Vodacom trumpeted a 5. 1 per cent increase in service revenue in the quarter to 30 June 2015, which Shameel Joosub, its CEO, described as “a continuation of the positive growth momentum”. Service revenue increased to ZAR15.

Qualcomm confirmed the implementation of a “Strategic Realignment Plan”, which Steve Mollenkopf, its CEO, said represent “fundamental changes” for the company. This includes “aggressively right-sizing” the company, with the removal of $1.