Sinclair shares soar after company says RSN acquisition will boost revenue

Shares of Sinclair Broadcast Group soared 35% after the conservative-leaning TV station group said the 21 regional sports networks it’s acquiring from Disney will boost its results more than expected. Sinclair said the $ 9.6 billion acquisition from Disney — which is selling the so-called RSNs in order to clear its $ 71.3 billion Fox merger with…
Business | New York Post

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Despite the Trump Admin’s ‘All-Out Offensive,’ Huawei’s Global Smartphone Sales Soar

The belfry of Berlin’s landmark Kaiser Wilhelm Memorial Church, an imposing former imperial church that was preserved as a partial ruin after World War II, is now wrapped in a huge ad for Huawei, the Chinese electronics company. Unlike on previous occasions when something like this was tried, Berliners aren’t protesting.

The setup is symbolic of the ascent of Huawei Technologies outside the U.S., a trajectory that has not been changed by an all-out offensive against the company by the Trump administration. Although that onslaught mainly targets Huawei’s network equipment business–the U.S. tells its allies that the company’s equipment represents a spying threat–it could be expected to tarnish a brand that is China’s sixth and the world’s 48th most valuable, according to Kantar’s BrandZ ranking for 2018. That, however, doesn’t appear to be the case. Global consumers are delivering a quiet vote of no-confidence in Donald Trump’s U.S. The country where Apple’s iPhone was born may soon find itself in the bizarre position of shunning the global industry leader–a type of spiteful self-harm hardly befitting the global tech superpower.

In the market for 5G network equipment, mobile operators often find it difficult to replace Huawei products because the Chinese company has spent years building an edge in the emerging technology. But the smartphone market is so competitive that only one company in it, Apple, has significant profit margins. There are plenty of alternatives to Huawei phones, many with similar specifications and at lower prices. And at least since December, when Huawei’s Chief Financial Officer Meng Wanzhou was detained in Canada at the request of the U.S., the U.S. government has been running an influence campaign against the company.

Yet Huawei’s sales in its biggest segment, the consumer one, have been booming. The company is now “within striking distance” of absolute leadership in smartphone sales, as the market analytics company IDC noted this week. In the first quarter of 2019, Huawei’s unit sales increased 50.3% year-on-year, while most other major vendors’ dropped.

Unlike some of the unit sales leaders, such as Oppo and Vivo, Huawei did not draw a large majority of its sales from China. According to IDC data, half of the company’s unit sales in the latest quarter occurred in the home market. Europe, the Middle East, and Africa provided a further 33% of the sales–only slightly less than for Samsung Electronics, the current, declining market leader.

Huawei achieved this in part by closely tracking Samsung’s offerings and pricing strategy in every region. According to Bloomberg Intelligence, its phones are, on average, just a tiny bit cheaper than the Korean competitor’s everywhere except China, where Huawei’s leadership is assured, and Canada and Japan, where the price differences are more stark.

But, especially since last year, Huawei has grown explosively in the high-priced segment. It offerings, especially the 2018 Mate 20 Pro released in October, have been getting rave reviews and top rankings–often above Apple’s flagship models. One reason is the partnership with German premium camera manufacturer Leica. It has led to impressive results, especially in low-light photography, where reviewers deem top-range Huawei phones to be far ahead of the competition.

Huawei’s flagship phones are priced uncompromisingly in line with competitors, but in an era of incremental improvement, they deliver tangible advantages, especially when it comes to photography. With Samsung forced to delay its first foldable phone after reviewers discovered multiple problems, Huawei has a chance to strengthen its position by offering the first such device. The technological robustness is unsurprising: Last year, Huawei spent 14.1% of revenue on research and development, compared with Apple’s 5.3% and Samsung’s 7.5%.

In absolute terms, Huawei spends about as much on marketing as on R&D–its selling and administrative expenses reached 105.2 billion yuan ($ 15.6 billion) last year. Although that’s less than Apple’s $ 16.7 billion and Samsung’s $ 28 billion, it’s still an enormous budget, especially given that Huawei doesn’t need to market its products in the U.S. Despite numerous attempts, it has failed to establish a relationship with any of the U.S. mobile carriers, which sell 90% of all phones.

Much of Huawei’s marketing spending is focused on Europe, where it’s been opening flagship stores, plastering city centers with ads (I’ve seen huge ones everywhere I’ve traveled recently, from Denmark to Romania) and engaging in projects like the one with the Memorial Church. Berliners aren’t demonstrating against it as they did in 1999, when advertising first covered the belfry, because the church has explained it’s the only way it can collect most of the 4 million euros ($ 4.5 million) necessary for the belfry’s renovation. The church’s foundation discussed the Huawei contract after the U.S. campaign began but decided to go through with it, deeming the American accusations against the company “vague.”

Whether Huawei is employee-owned, as it claims, or state-controlled, as American researchers have recently claimed, whether it’s the Chinese government’s Trojan horse in consumers’ pockets or merely a smart, fierce competitor in a tough market, it’s well-positioned to overtake Samsung as the unit shipment leader in smartphones–despite having sold just $ 70 million worth of phones in the U.S. last year. As it makes this power grab, it’s doing its best to fix a problem that has confounded Samsung: How to extract more profit from innovation, as Apple does, instead of competing on price. Last year, its gross margin reached 38.6%, about the same as Apple’s 38.3% and more than the 37.8% Samsung is projected to record this financial year.

At this point, the only way for the U.S. to try to derail Huawei would be to slap on it the kind of sanctions that were briefly imposed on another Chinese vendor, ZTE Corp., last year: a ban on the use of any U.S. technology. But even then, Huawei would fight back. It has made a conscious effort to produce as many components as possible in-house, including crucial ones like processors. It recently announced that it had developed its own operating system in case it’s banned from using Alphabet‘s Android.

With Huawei second in global smartphone unit sales, it should be hard for Americans to understand why a company whose products are so popular in the rest of the world is, for all intents and purposes, absent from the U.S. market. Surely many U.S. customers, given an opportunity to buy Huawei phones from carriers, would be as unimpressed by the government’s spy paranoia as their peers in Europe or Latin America. If Huawei ever reaches the top spot, the question will loom even larger.

Fortune

SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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BLACK ENTERPRISE AND T.D. JAKES PARTNER TO PRESENT SOAR EMPOWERMENT

Black Enterprise will present its inaugural SOAR! Empowerment Series of events, which will kick off in Atlanta on April 6, 2019, at the Georgia World Congress Center. Inspired by The New York Times best-selling book SOAR! Build Your Vision From The Ground Up by T. D. Jakes, SOAR is a one-day event business series produced by Black Enterprise in partnership with T.D.J. Enterprises L.L.P. SOAR is designed to be the perfect opportunity for those seeking to maximizing their earning power, gaining optimal health, and creating multigenerational wealth.

“SOAR Empowerment event programming was specifically designed to equip participants with a vision for their health and prosperity, and a flight plan to reach their destinations,” said Black Enterprise President and CEO, Earl “Butch” Graves Jr. “These events are for those who are ready to take immediate action to get their dreams off the ground to create multigenerational wealth.”

SOAR attendees will leave the event with an action plan for acquiring assets, building personal and household net worth, and building real, measurable wealth. SOAR will provide access to career and business opportunities with high earning potential that can fuel long-term wealth creation for attendees.

“I wrote SOAR as a how-to-guide for those individuals desiring to give flight to their dreams but not knowing how to takeoff,” said T.D. Jakes.  “The SOAR series is the transformational master class that delves into the heart of business success strategies with unprecedented access to the mindsets, lifestyles and workstyles of some of the foremost leaders and influencers in the game today.”

SOAR will welcome high-powered sessions on critical life and career topics such as How to Monetize your Business Idea, Talent, or Passion; Maximizing Your Earning Power; and How to Design a Nutrition Plan that Works for You, just to name a few. Get the education, resources, and connections you need to boost your personal net worth and income growth for years to come at SOAR!

Confirmed speakers include:

  • D. Jakes, CEO, TDJ Enterprises L.L.P.
  • Earl “Butch” Graves Jr., CEO, Black Enterprise
  • Ash Cash, Chief Financial Educator, MindRight Management
  • Koereyelle DuBose, Transformational Speaker, WERK PRAY SLAY
  • Charreah Jackson, Corporate facilitator, career coach & author
  • Lamar Tyler, Creator, Traffic, Sales and Profits

 

To register and find out more information, visit www.blackenterprise.com/soar.

EDITOR’S NOTE:  Interested press should contact Johann Alleyne-Morris at 212-886-9598 or morrisj@blackenterprise.com.

 

The post BLACK ENTERPRISE AND T.D. JAKES PARTNER TO PRESENT SOAR EMPOWERMENT appeared first on Black Enterprise.

Lifestyle | Black Enterprise

EMPLOYMENT SEARCH UPDATE:

Stocks soar after Federal Reserve announces pull-back

Federal Reserve Chair Jerome Powell is finally giving Wall Street what it wants. US markets soared Wednesday afternoon after the Fed said it will be “patient” with future rate hikes and hinted at more flexibility in unwinding its $ 4 trillion balance sheet. “The case for raising rates has weakened somewhat,” Powell told reporters Wednesday at…
Business | New York Post

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Black Enterprise Partners with TD Jakes In SOAR Empowerment Series

Black Enterprise President and CEO Earl “Butch” Graves Jr. and TDJ Enterprises CEO T.D. Jakes announced a partnership between the two prominent black-owned media and event companies, to present its inaugural SOAR! Empowerment Series of events, which will kick off in Atlanta on April 6, 2019. Inspired by The New York Times best-selling book SOAR! Build Your Vision From The Ground Up by T. D. Jakes, SOAR, a one-day liftoff event series, is the perfect opportunity for those focused on maximizing their earning power, gaining optimal health, and spiritual well-being while creating multi-generational wealth.

“SOAR Empowerment event programming was specifically designed to equip participants with a vision for their health and prosperity, and a flight plan to reach their destinations,” said Graves Jr. “These events are for those who are ready to take immediate action to get their dreams off the ground to create multi-generational wealth.”

TD Jakes

“Deciding to partner with the only media company aimed at accelerating black business development, career advancement, wealth creation, and economic empowerment was a no-brainer,” said Jakes, CEO of TDJ Enterprises, a for-profit entity engaged in inspirational media, entertainment, digital products, and large-scale live events. “The SOAR! Empowerment events provide the synergistic uplift that equips our respective audiences with the practical insights and economic principles to give flight to their dreams as outlined in my best-selling book of the same name.”

T.D. Jakes, known widely as a pastor is also a prodigious entrepreneur with ventures spanning from bestselling books to box office hits, such as “Heaven is for Real,” “Jumping the Broom,” “Sparkle” and “Miracles from Heaven,” a self-titled TV talk show, to music production, and live events to real estate development.

SOAR attendees will leave the event with:

  • An action plan for acquiring assets, building personal and household net worth, and building real, measurable wealth
  • A lifestyle strategy to optimize health in order to minimize healthcare costs and maximize their capacity to earn and accumulate wealth
  • Exposure to career and business opportunities with high earning potential that can fuel long-term wealth creation
  • Inspiration from the nation’s most successful and accomplished wealth creators, including Black Enterprise President & CEO Earl “Butch” Graves Jr. and TDJ Enterprises L.L.P. Founder and CEO T.D. Jakes
  • A personal network energized by new connections with hundreds of like-minded, success-oriented people focused on wealth creation

And much more!

To register and find out more information, visit www.blackenterprise.com/soar.

 


Editor’s Note: This article was revised Oct. 16, 2018, to update the date and location of SOAR’s kickoff.

The post Black Enterprise Partners with TD Jakes In SOAR Empowerment Series appeared first on Black Enterprise.

Lifestyle | Black Enterprise

FASHION DEALS UPDATE:

As obesity rates in America soar, new weight loss drugs are in the offing that offer hope

There are several promising drug candidates to combat obesity, one of America's biggest diseases and contributors to mortality. Still, doctors have been slow to call obesity a disease, and insurance coverage remains skimpy.
Health and Science

U.S.HEALTHCARE UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

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Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!