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decades, according to an annual crime survey. Shoplifting and street | :00:00. | :00:00. | |
theft are up. Time for the latest business news from Singapore. | :00:00. | :00:16. | |
Changing fortunes - Samsung's mobile division posts a drop in quarterly | :00:17. | :00:23. | |
earnings. Can Chinese PC maker expand its | :00:24. | :00:32. | |
product line-up? Standing of IBM's server business. | :00:33. | :00:38. | |
Welcome to Asia Business Report. We start with Samsung, which has | :00:39. | :00:42. | |
reported a mixed bag of earnings. The company posted a 30% jump in its | :00:43. | :00:46. | |
full-year profit, but the final quarter of last year, its operating | :00:47. | :00:51. | |
profit in its mobile division, its main revenue generator, fell by 18%. | :00:52. | :01:00. | |
That is because new mobiles from Apple drove away profit. This year, | :01:01. | :01:07. | |
it will diversify its products. That could be a tough challenge. Our | :01:08. | :01:13. | |
correspondent has more. Samsung became the world 's biggest maker of | :01:14. | :01:17. | |
mobile phones in 2012 when it overtook Nokia. Sales of smartphones | :01:18. | :01:28. | |
make up 60% of its operating profit. Sales started to slow when Apple | :01:29. | :01:32. | |
release its latest iPhone in September. Samsung is now banking on | :01:33. | :01:40. | |
its new phone, with a larger screen. Even will this come under | :01:41. | :01:45. | |
competition. Apple are expected to release a similar sized phones this | :01:46. | :01:49. | |
year. We will see what consumers think. I have been using Apple since | :01:50. | :01:58. | |
2010. It is user-friendly for me and my children. I do not like Apple | :01:59. | :02:07. | |
products. Samsung is customisable. Samsung has more functions. You are | :02:08. | :02:12. | |
able to customise more things. Apple is quite restricting. Samsung has | :02:13. | :02:20. | |
done well in emerging markets, especially with strategy of | :02:21. | :02:21. | |
developing different models at different prices. It faces new | :02:22. | :02:26. | |
challenges in China, where it has been the dominant player. Apple has | :02:27. | :02:31. | |
started selling its iPhones with China Mobile. With the smartphone | :02:32. | :02:37. | |
market mature red, it is putting pressure on all makers. Analysts say | :02:38. | :02:43. | |
Samsung will have to innovate and come up with something unique if it | :02:44. | :02:50. | |
is going to create new growth. Continuing with Samsung, its brand | :02:51. | :02:55. | |
may be under threat. That is according to one of the founders of | :02:56. | :02:58. | |
an advertising agency which was recently bought out by a French | :02:59. | :03:04. | |
publicist, which in turn is in the midst of a merger, creating the | :03:05. | :03:06. | |
largest advertising firm in the world. I caught up to find out the | :03:07. | :03:13. | |
outlook for the industry, I started by asking about his views on | :03:14. | :03:20. | |
Samsung. Looking at Samsung as a brand that has been particular the | :03:21. | :03:25. | |
successful, I will be very critical here. It tends to be a copier. Where | :03:26. | :03:37. | |
risk originality that? Originality has always been a dangerous word. | :03:38. | :03:43. | |
Where risky fresh perspective? I look at what they have done it is | :03:44. | :03:47. | |
like a copy of apple product. There is a place without, but the future | :03:48. | :03:52. | |
for has got to be being more innovative and leading, not | :03:53. | :03:56. | |
following. The past five years has been hard or industry. The slowdown | :03:57. | :04:01. | |
in the global economy has not that many companies are not spending big | :04:02. | :04:06. | |
money on advertising. How has that hit your company can make bizarrely, | :04:07. | :04:11. | |
our industry always suffers when a recession comes along. Everybody | :04:12. | :04:17. | |
suffers. In a peculiar way, when sales are slowing down, I was | :04:18. | :04:51. | |
imagined... The right kind of advertising stimulative economy. | :04:52. | :04:51. | |
Stimulator and investigation into products and services. It encourages | :04:52. | :04:57. | |
productivity. If economics is a state of mind, than the more | :04:58. | :05:00. | |
positive people are, the better the economy will be. There was a great | :05:01. | :05:05. | |
deal of consolidation going on in your industry. Is it killing of | :05:06. | :05:10. | |
competition as well as creativity? There is always a danger when you | :05:11. | :05:13. | |
get consolidation, you get a reduction in competitiveness. That | :05:14. | :05:23. | |
is a concern. The counter argument is that by consolidating we can get | :05:24. | :05:27. | |
more information, we can aid and assistant make our product better. | :05:28. | :05:33. | |
What are the cultural impediments to creativity in Asia? Creativity is | :05:34. | :05:40. | |
not an occupation, it is a preoccupation. It requires eager. An | :05:41. | :05:46. | |
overuse of respect will deaden creativity. Thank you. | :05:47. | :05:53. | |
From March this year, India's central bank will withdraw all | :05:54. | :05:58. | |
currency notes printed before 2005. Our correspondent has more. | :05:59. | :06:06. | |
Plan to check my bank notes. A new water by the Indian central bank is | :06:07. | :06:10. | |
to withdraw all currency notes issue before 2005. It is an attempt to | :06:11. | :06:15. | |
curb the amount of black money in circulation. Cash that has not been | :06:16. | :06:21. | |
declared, and not been taxed. By some estimates, India's underground | :06:22. | :06:24. | |
economy accounts for nearly 50% of the national output. This new order | :06:25. | :06:29. | |
will have people worried. Anybody holding a lot of cash will have to | :06:30. | :06:34. | |
go to retail banks to exchange them. Anybody who it is not an existing | :06:35. | :06:38. | |
customer of the bank has to show some kind of ID proof if they want | :06:39. | :06:41. | |
to exchange more than ten of these 500 rupee or 1000 rupee notes. | :06:42. | :06:47. | |
People on the streets are not panicking, because most to know | :06:48. | :06:51. | |
about the order. I will check my wallet, the notes are fine. We | :06:52. | :06:58. | |
withdraw money in squalid nominations -- smaller to | :06:59. | :07:02. | |
nominations. There is no way that you could generate that kind of | :07:03. | :07:10. | |
money. It is not bother me at all. The old notes will continue to be | :07:11. | :07:16. | |
valid legal tender. Retailers. Stop accepting the money as payment. So | :07:17. | :07:19. | |
how the notional currency that is old or new? The central bank has | :07:20. | :07:24. | |
issued an advisory. If you look at the currency notes and see the | :07:25. | :07:29. | |
middle of the nose, they should be a year. If the spaces bank -- the | :07:30. | :07:36. | |
space is blank, then it is not valid. Retail banks have been | :07:37. | :07:42. | |
advised to shore up their currency operations, expecting long queues of | :07:43. | :07:49. | |
people. Shares of China's Lenovo are higher | :07:50. | :07:53. | |
by as much as 8% today, that is after the company agreed to buy | :07:54. | :07:59. | |
IBM's low-end server business. The deal had been widely anticipated as | :08:00. | :08:03. | |
both sides were in talks. They could not agree on pricing. Lenovo bought | :08:04. | :08:09. | |
IBM's business back into that in five -- in 2005. Lenovo overtook | :08:10. | :08:20. | |
Hewlett-Packard as the number one PC make it into as it well. -- in | :08:21. | :08:32. | |
2012. We saw a 10% decline in shipments. They are looking at new | :08:33. | :08:39. | |
avenues for growth. This fits nicely with our strategic direction to | :08:40. | :08:45. | |
become one of the largest technology companies. It gives them a new | :08:46. | :08:50. | |
revenue Paul Butler so helps their bottom line. This is a business IBM | :08:51. | :09:01. | |
does not want. IBM has done well with -- Lenovo has done well with | :09:02. | :09:04. | |
that is as IBM has not wanted in the past. Can it do the same? I am sure | :09:05. | :09:10. | |
they can do a good job. Once the deal goes through an integrated | :09:11. | :09:14. | |
business into their organisation, I think the key will be understanding | :09:15. | :09:20. | |
that this business is different from the PC business. There are elements | :09:21. | :09:24. | |
of corporation or excellent -- it also requires partnerships with | :09:25. | :09:42. | |
software vendor is to deliver a complete suite. It will have to | :09:43. | :09:48. | |
compete with others who would do it well. The cloud is another issue. | :09:49. | :09:54. | |
People moving away from traditional infrastructures. Lenders like HP, | :09:55. | :10:00. | |
Dell and Cisco, who are the incumbents, fierce competitors, they | :10:01. | :10:07. | |
will go aggressively after IBM's customer base and partners once the | :10:08. | :10:13. | |
deal is close. That will be a huge challenge for women over. -- for | :10:14. | :10:22. | |
Lenovo. A quick look at the market. They are all alive. We have seen the | :10:23. | :10:32. | |
Nick Cave losing 300 points. The yen is strengthening. That will make an | :10:33. | :10:35. | |
impact on exporters. Headlines: after a day of talks with | :10:36. | :10:51. | |
the government, Ukraine's opposition | :10:52. | :10:52. |