SingTel loses due to Bharti investment
Despite a 31.5% decrease in earnings over the first quarter of 2011, SingTel remains confident about its long-term investment in Indian telecom Bharti. The losses forced SingTel’s numbers to decrease 2.2% this quarter as well. Bharti has struggled while it implements 3G coverage in the world’s largest mobile phone market, and because of its holdings in Africa.
Regardless, SingTel believes that they will benefit in the long-term due to its partnership with Bharti. The majority of its profits are derived from its customers in Australia and Singapore, where earnings were reported in the single digits. However, the company believes the most growth potential lies in its dealings in India and Africa.
Despite a 31.5% decrease in earnings over the first quarter of 2011, SingTel remains confident about its long-term investment in Indian telecom Bharti. The losses forced SingTel’s numbers to decrease 2.2% this quarter as well. Bharti has struggled while it implements 3G coverage in the world’s largest mobile phone market, and because of its holdings in Africa. Regardless, SingTel believes that they will benefit in the long-term due to its partnership with Bharti. The majority of its profits are derived from its customers in Australia and Singapore, where earnings were reported in the single digits. However, the company believes the...
Despite a 31.5% decrease in earnings over the first quarter of 2011, SingTel remains confident about its long-term investment in Indian telecom Bharti. The losses forced SingTel’s numbers to decrease 2.2% this quarter as well. Bharti has struggled while it implements 3G coverage in the world’s largest mobile phone market, and because of its holdings in Africa.
Regardless, SingTel believes that they will benefit in the long-term due to its partnership with Bharti. The majority of its profits are derived from its customers in Australia and Singapore, where earnings were reported in the single digits. However, the company believes the most growth potential lies in its dealings in India and Africa.
