Sales of mobile applications in Apple and Google online stores will bring this year Russian developers more than $80 million in profits, predicts managing director of i-Free Innovations, Kirill Petrov.
Commenting his estimation, Kirill Petrov notes that i-Free Innovations develops mobile applications for these platforms as well and can estimate the approximate profit of its competitors.
MTS failed to receive dividends from its Turkmenistani subsidiary, whose license was revoked by the local authorities, Interfax reported. The size of dividends was not disclosed, and it is not clear whether the dividends would have been for 2010 or accrued. The subsidiary’s net income for 2005-9M10 totalled USD 190 million, including USD 62 million for 9M10.
MTS CEO Mikhail Shamolin estimated the NPV of the loss from the termination of the Turkmenistan business at USD 585 million; the write-down on P&L might be USD 106 million.
On December 22, new information was published on the current conflict between the largest Russian mobile operator, MTS, and government authorities of Turkmenistan. Media reported that the Turkmen government had stopped MTS’ local subsidiary operations, Barash Communications Technologies, altogether and had revoked its service license starting 1 January 2011.
In addition, Turkmenistan unilaterally terminated lease agreements on cell sites with the operator starting the same January 1. Finally, Turkmen authorities obliged MTS to rescind contracts with all of its local subscribers, which number some 2.4 mn, and settle accounts with them. MTS has already laid an action against Turkmenistan at the International Arbitration Court.
MTS Group has recently reported its financial performance in 3Q and 9M2010. The report shows 16% growth y-o-y in 9M consolidated revenue, to USD 8.3 billion (accounting for the retrospective consolidation of Comstar, TS-Retail and Metrotelecom).
The group primarily owes the positive result to growth in proceeds from the provision of cellular telecoms services, which climbed 13.5% y-o-y, accounting for 79.8% of total revenue for the reporting period. The fixed-line telecoms sector saw revenue climb 29.3% y-o-y.
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