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significant decrease in violent crime. Shoplifting and street thefts | :00:00. | :00:00. | |
are up. Time for the latest business news. | :00:00. | :00:15. | |
Changing fortunes: Samsung's mobile division posts a drop in earnings. | :00:16. | :00:27. | |
Chinese PC maker Lenovo expand its product lineup, snapping up IBM's | :00:28. | :00:32. | |
server business. Welcome to Asia Business Report. We start with | :00:33. | :00:40. | |
Samsung, there has been a mixed bag of earnings from the South Korean | :00:41. | :00:43. | |
company. They posted a 30% jump in net profit, but for the final | :00:44. | :00:48. | |
quarter of last year, operating profit at its mobile division, which | :00:49. | :00:54. | |
has its main revenue generator, fell by 18%. New phone models from rival | :00:55. | :00:59. | |
apple to away sales during the holiday period. Samsung aims to | :01:00. | :01:04. | |
maintain its status as market leader in the smartphone business by | :01:05. | :01:08. | |
diversifying products. That could be a tough challenge. Our correspondent | :01:09. | :01:13. | |
has more. Samsung became the world's biggest maker of mobile | :01:14. | :01:16. | |
phones in 2012, when it overtook Nokia. Sales of its prose account an | :01:17. | :01:23. | |
early 60% of its operating profit. Until late last year, as was the | :01:24. | :01:29. | |
most popular model. Sales started to slow when apple released its latest | :01:30. | :01:36. | |
iPhone. Samsung is now banking on its larger screens. Even these will | :01:37. | :01:43. | |
come under competition, with Apple expected to release a similar sized | :01:44. | :01:47. | |
phones later this year. We will find out what consumers think. I have | :01:48. | :01:54. | |
been using Apple since 2008. It is user-friendly. I do not like Apple | :01:55. | :02:06. | |
products. Samsung is very customisable. Samsung is more | :02:07. | :02:14. | |
customisable. Apple is quite restricted. Samsung has done well in | :02:15. | :02:21. | |
emerging markets, especially with the strategy of developing different | :02:22. | :02:25. | |
models at different prices. It faces new challenges in China, wear it has | :02:26. | :02:28. | |
been a dominant player. Apple has started selling its iPhone is with | :02:29. | :02:34. | |
China Mobile. With the smart phone market selling to mature, it is | :02:35. | :02:37. | |
putting pressure on all green nations. Some analysts say Samsung | :02:38. | :02:43. | |
is going to have to innovate and come up with something unique if it | :02:44. | :02:47. | |
is going to create new areas of growth. | :02:48. | :03:06. | |
Samsung's brand may be under threat. The largest advertising company in | :03:07. | :03:10. | |
the world was in Singapore. I asked about his views on Samsung. I am | :03:11. | :03:16. | |
here Samsung is a brand that has been particularly successful. Ferry | :03:17. | :03:23. | |
and rubble. I will be very critical here and say, actually, it tends to | :03:24. | :03:30. | |
be a copy. Where is the originality? Is a dangerous word. Where is the | :03:31. | :03:38. | |
fresh perspective? Yes, you can look at everything they have done, it is | :03:39. | :03:42. | |
like a copy of an apple product. There is a place that. The future | :03:43. | :03:49. | |
for Samsung is that they have to be more innovative and leading. The | :03:50. | :03:54. | |
past five years has been hard on your industry. Many companies are | :03:55. | :04:03. | |
spending big money on advertising. How is that hit your company? Are | :04:04. | :04:07. | |
industry always suffers when a recession comes along. In a peculiar | :04:08. | :04:20. | |
way, when cells are slowing down, I always imagine that when the firm is | :04:21. | :04:23. | |
closed down, the advertising would increase. But they cut advertising | :04:24. | :04:30. | |
as well. We are beginning to see advertising budgets increasing. I do | :04:31. | :04:37. | |
not say they should do that because it is what I want is an industry, I | :04:38. | :04:42. | |
think the right kind of advertising can stimulator the economy. It | :04:43. | :04:46. | |
stimulator and investigation of products. It encourages | :04:47. | :04:54. | |
productivity. If economics is a state of time, then the more | :04:55. | :04:58. | |
positive people are, the better the economy will be. There is a great | :04:59. | :05:03. | |
deal of consolidation happening in your industry. Is that killing off | :05:04. | :05:09. | |
competition as well as creativity? There is always a risk of eight | :05:10. | :05:15. | |
reduction of competitiveness. That is a concern. The counter argument | :05:16. | :05:20. | |
is that by consolidating and you can get more information. We can assist | :05:21. | :05:29. | |
and make our product better. Are they cultural impediments to | :05:30. | :05:33. | |
creativity in Asia? Creativity is the occupation, it is a | :05:34. | :05:39. | |
preoccupation. It requires ego. An overuse of respect will deaden | :05:40. | :05:47. | |
creativity. Thank you. From March this year, the Indian | :05:48. | :05:53. | |
central bank will withdraw all currency notes printed before to | :05:54. | :05:58. | |
those in five. It is an attempt to curb the circulation of black money. | :05:59. | :06:06. | |
Time to check my bank notes. A new water by the central bank will | :06:07. | :06:10. | |
withdraw all banknotes issued before 2005. It is an attempt to curb the | :06:11. | :06:14. | |
amount of black money in circulation. Cash that has not been | :06:15. | :06:19. | |
declared and not taxed. By some estimates, India's underground | :06:20. | :06:23. | |
economy accounts for nearly 50% of national output. This new order will | :06:24. | :06:28. | |
have people worried. Anybody holding a lot of cash will have to go to | :06:29. | :06:33. | |
retail banks to exchange them. Anybody not an existing customer of | :06:34. | :06:38. | |
the bank has to show some kind of ID proof if they want to exchange more | :06:39. | :06:43. | |
than ten of these 500 or,000 Ruby notes. Most people do not know about | :06:44. | :06:52. | |
the new order. We live draw money in small to nominations. Working in a | :06:53. | :07:03. | |
company, there is no way that you will have that kind of money. It is | :07:04. | :07:10. | |
not bother me at all. The notes will still be valid legal tender, but | :07:11. | :07:17. | |
retailers. -- will stop accepting the money. The central bank has | :07:18. | :07:23. | |
issued an advisory. If you look at the currency notes and see the | :07:24. | :07:26. | |
middle, there should be a year than it was issued. If the note was | :07:27. | :07:34. | |
issued prior to 2005, it is no longer valid. The central bank has | :07:35. | :07:41. | |
advised retail banks to shore up currency chest operations, expecting | :07:42. | :07:44. | |
long queues of people, and is to be ready to handle the rush. | :07:45. | :07:49. | |
Shares of China's Lenovo are higher by 8% this morning after the company | :07:50. | :07:56. | |
agreed to buy IBM's low end server business for $2.3 billion. | :07:57. | :08:02. | |
Brightside in talks last year. They could not agree on pricing. -- both | :08:03. | :08:10. | |
sides were in talks. The Chinese company has since diversified into | :08:11. | :08:13. | |
smartphones and tablets. It overtook Hewlett-Packard is the top PC maker | :08:14. | :08:23. | |
in 2012. We asked why it was the right move. They have seen the PC | :08:24. | :08:31. | |
business slowdown. We have seen slower shipments in the | :08:32. | :08:34. | |
Asia-Pacific. They are looking at new avenues for growth. This fits | :08:35. | :08:41. | |
nicely with our strategic direction. They have become one of the largest | :08:42. | :08:47. | |
technology companies. It gives them a new revenue pool but also helps | :08:48. | :08:55. | |
the bottomline. This is a business IBM does not want. Lenovo has done | :08:56. | :08:59. | |
well with businesses IBM has wanted in the past. Canada the same with | :09:00. | :09:12. | |
this? -- can it do. Once it goes through an integrated business into | :09:13. | :09:15. | |
their organisation, I think the key will be understanding that this | :09:16. | :09:19. | |
business is different from the PC business. There are elements of | :09:20. | :09:25. | |
excellence and discipline that Llanover house that make it succeed. | :09:26. | :09:30. | |
The same time, it requires a strong ecosystem of technology partners | :09:31. | :09:35. | |
such as the software vendor is, system engineers, that deliver a | :09:36. | :09:43. | |
complete sweep. It is not just a selling point. It will have to | :09:44. | :09:49. | |
compete with others. The cloud is another issue. People moving away | :09:50. | :09:57. | |
from traditional infrastructure. Lenders like HP, Dell, Cisco, they | :09:58. | :10:04. | |
are fierce competitors. They would go aggressively after the customer | :10:05. | :10:10. | |
base once the deal is closed. They will be a huge challenge for Lenovo. | :10:11. | :10:24. | |
That ends this is -- addition of Asia Business Report. | :10:25. | :10:27. |