LG launches Revolutionary 2012 Cinema 3D Smart TV series in Kenya, East Africa

LG Electronics has launched Cinema 3D Smart TV range into the regional market in what will cement its market leadership in the home entertainment category.

The company said the launch of Cinema 3D Smart TV will provide the most expansive yet simple home entertainment experience to Kenyan and regional households.

LG Electronics Managing Director for East and Central Africa Mr Josep Kim speaking at the event said the launch of  Cinema 3D Smart TV was another first as the gadget is sized at almost zero mm making it the thinnest in the market as of now.

“The LG Cinema 3D Smart TV, being equipped with the most advanced 3D technology, enables a smoother and more immersive 3D viewing bringing a limitless world of 3D entertainment at the tip of your magic remote,” said Mr Kim.

The Cinema 3D Smart TV will retail at a cost of Kshs. 185,000 for the 42 inch model with the company expecting to sell over 50 units by end of this year.

With the purchase of the newest 3D innovation, customers will enjoy 3D content more comfortably for longer, using light-weight, battery-free 3D glasses while at the same time enjoying the CINEMA 3D flicker-free display which causes no stress to the eyes. In addition, through 3D content services and 2D to 3D conversion engine, the CINEMA 3D experience has no limits as it offers unlimited choices.

“Through Smart Share Plus, users can access endless multimedia content stored in external devices, as well as view TV content on smartphones connected via Wi-Fi Direct. Users can communicate online and access limitless variety of online content, using established, must-have Smart TV apps and content services as well as those to be launched in the near future,” added Mr Kim.

The new line-up also features Dual Play function for gamers and an expansive selection of 3D movies, sports and games, offering a world of 3D waiting to be discovered through LG's 3D World.

LG’s newest addition to its cutting-edge technology is ideal for 3D Gaming and other forms of entertainment which are gaining popularity globally.

"The new Cinema 3D Smart TV line-up endorses our endeavor to bring the biggest innovations that technology has to offer today. We have avidly explored the model of Smart TV to create a product that offers a superlative TV viewing experience, offering useful, easy-to-use TV apps

and premium content. With a world record for narrowest bezel 3D TV, the product is not only stylish in its design, but breaks boundaries in quality and content as well," said Mr Kim.

The company will banking on more innovative product launches to maintain its market leadership in home entertainment in the face of rising industry competition.

BOOST FOR COFFEE FARMERS AS NESTLÉ’S GLOBAL CEO PLEDGES CONTINUED SUPPORT

Nestlé, the world's leading Nutrition, Health and Wellness Company, has reaffirmed its commitment to continue offering technical support to coffee farmers, to help them increase their yields and also improve the quality of the product.

This was said by the company’s global CEO, Paul Bulcke, when he visited last week,  the inaugural Nestlé NESCAFÉ® PLAN project in Karatina, which targets nine Farmer’s Cooperative Societies (FCS), with 27 wet mills and over 26,000 farming households in different coffee growing zones.

“The demand for coffee in the world market has shown a steady increase in the recent past and Nestlé, with its world famous coffee brands like Nescafé and Nespresso, is one of the buyers of world class coffee. Kenya is known globally as a source of high quality coffee, most of which is from small scale farmers. We want to work closely with key partners, including farmers in Kenya, to provide ready market for their raw materials.” said Bulcke, who was visiting Kenya for the second time.

In 2010, Nestlé announced that it would double the amount of coffee bought directly from farmers to 180,000 tons over the next five years. Currently, the company sources its coffee directly from its markets in South East Asia such as Thailand, China, Indonesia and the Philippines. It is also sources coffee from farmers directly in Brazil, Colombia, Côte d’Ivoire and Mexico. In Africa, Nestlé sources coffee from Kenya, Ethiopia, Tanzania, Rwanda and Burundi.

“Nestlé has always provided great tasting products to its consumers throughout the world which means that our raw materials have to be of top quality and we do not compromise on that. This also puts a huge responsibility on us to help the farmers produce the quality of coffee that we can use in our products,” said Bulcke.

NESCAFÉ® PLAN, was launched in Kenya in March 2012, in partnership with Coffee Management Services (CMS), with an initial investment of Ksh. 35 million, to offer capacity building through training and technical support, to improve productivity, quality (more specialty Grade coffees), and ensure higher incomes for coffee farmers hence improving the living standards of the farmers community.

Globally, Nestlé will be investing about 29 Billion Kshs in The NESCAFÉ® PLAN over the next ten years (2011 – 2020) which builds on the Kshs 17 Billion investment in coffee projects over the last ten years.

LG ACHIEVES SALE OF FIVE MILLION LTE SMARTPHONES

With One of the Widest Selection of LTE Devices, LG Follows  Strategy of Different Phones for Different Consumer Needs

LG Electronics (LG) has announced that it reached a new milestone with global sales of five million LTE smartphones to date.

After reaching sales of four million LTE smartphones last month, an additional one million smartphones were sold in the month of July – one LTE smartphone roughly every two and a half seconds.

LG Electronics East and Central Africa Managing Director Josep Kim said the company’s strategy of innovating specific phones for specific market segment had finally borne fruit.

“At LG, we understand that different market segments have varying purchasing power. In view of this, our strategy has been coming up with the best product for a particular market,” said Mr Kim.

LG released the first LTE smartphone “RevolutionTM by LG” in the U.S. in May of last year through the largest carrier Verizon Wireless and expanded its LTE target markets with its global LTE smartphones.

Focusing on the key markets with LTE capabilities, LG saw strong acceptance by offering diverse LTE smartphones according to consumer needs. Currently, more than ten LG LTE smartphones are available in countries where LTE service is available, including Korea, U.S., Japan and select markets in Europe and Asia.

Although Optimus LTE takes the title of the most popular LTE smartphone from LG with two million in sales, Optimus Vu: has sold over 500,000 units since March, demonstrating the device’s acceptance as it prepares for its global roll-out. And with the release of the industry’s first 2GB RAM LTE smartphone Optimus LTE II in May, LG saw the fastest sales among all LTE smartphones with this device reaching half a million units in the first 70 days.

According to a report by Jefferies & Company, LG is the global leader in LTE patents with a value of over USD 8 billion. And intellectual property consulting firm TechIPM analyzed LTE-related patents registered to the U.S. Patent and Trademark Office by second quarter of this year and reported that LG held the largest overall number of patents as well.

“Sales of global LTE smartphones are expected to increase ten-fold this year from last year,” said Dr. Jong-seok Park, President and CEO of LG Mobile Communications Company. “With that in mind, we are planning to introduce an even more impressive LTE line-up in the next several months second to none.”

The new Sony LBT-SH2000 is by far one of the most powerful hi-fi systems ever made for home use

Sony has launched a new super high power Hi-Fi System, Sony LBT-SH2000, into the Kenyan market.

 

Making the announcement, Sony Gulf FZE spokesperson, Rajeev Pallippamadam said: “Sony Audio has enjoyed the legacy of being the brand that can transform any gathering into a party experience and was popular with this region.”

“We are therefore proud to be presenting to our Kenyan customers the Sony LBT-SH2000, which is by far the most powerful hi-fi system ever made by any company for home use and we believe the market will respond to our latest offering,” added Pallippamadam.

 

He continued: "Home entertainment is key for the local market; this is why we offer them the finest products to enjoy the best sound quality. We continue to focus on having personalized products for Kenya and the East African region, and this way we reinforce our commitment to these growing markets.”

 

Featuring 22000W PMPO, the Sony LBT-SH2000 offers high-powered sound from multiple sources like CD, USB, Radio and four Audio Inputs.  It comes with built in DJ sound effects and DJ LED speakers, that allow users to simulate a club party ambience in the comfort of their own homes. At push of a button, DJs Sound effects such as Phaser, Flanger, Isolator and Sound Flash modifies the music as it plays. To further compliment the atmosphere, a multi-colour illumination on the DJ LED speakers light up the room.

The high power system delivers high quality sound better than the other Hi-Fi systems available in market and offers technology that allows easy music management. It features two USB ports on a well-lit main unit that allow mp3 playback and also allows you to copy songs quickly from all sources to a USB storage device in mp3 format.

 

"The speakers are in line with the consumer’s preferences in this market because we know this region loves heavy bass lines. You do not have to go to an actual party to have the experience. You can get high quality sound at the comfort of your home with this party system,” Pallippamadam added.

 

 

For those who have mobile phones with USB mass storage support, the SH2000 can be also used to copy songs to and from the mobile phones from all sources directly.

 

This unit comes bundled with a high quality and super dust proof Sony DVD Player with Karaoke Functionality; enabling users to enjoy the movies with high quality sound and have a Karaoke Party along with their family and friends.

The SH2000 is now available across all the leading Sony Showrooms and Dealers across the country .

Emirates Resumes Services into Tripoli

Emirates, one of the world's fastest growing airlines, is to restart flights to Tripoli from 29 October 2012, which it halted following the political unrest and subsequent change of government in the North African country.

Under the new schedule, Emirates will serve Tripoli every Monday, Wednesday, Friday and Saturday, leaving Dubai at 0925hrs and arrive at Tripoli International Airport at 1400hrs. Flights to and from Tripoli will be served by an Airbus A330-200 in a 3-class configuration offering 12 First Class, 42 Business Class and 183 Economy seats, alongside up to 15 tonnes of cargo-carrying capacity.

“In resuming our flights to Tripoli, Emirates is underlining its commitment to Libya at a time when the country is demonstrating its strength and resilience in the face of adversity,” said Jean Luc Grillet, Emirates Senior Vice President Commercial Operations for Africa. “We have been closely monitoring the situation in Libya and feel that the time is right to re-launch our services, which will help to support business, international trade and passenger travel to and from Tripoli, as well as strengthening the country's overall infrastructure.”

Tripoli has been part of Emirates’ route network since March 2001, when services were launched with 4 flights a week. In 4th June this year, Emirates underlined its commitment to Libya with the reopening of its Tripoli town office. The one-stop travel hub has been designed to make business and leisure travel easier and more convenient, with ticketing and reservation counters for general enquiries and dedicated counters for premium passengers, Emirates Holidays customers and travel agents.

Emirates offers customers in all cabins meals prepared by gourmet chefs, award-winning service from the airline’s international cabin crew and ice, the airlines’ entertainment system which offers over 1,400 channels of entertainment and the facility to send and receive emails and text messages.

With a fleet of 180 aircraft and already the largest A380 operator in the world, with 22 in service, Emirates currently flies to over 120 destinations in 74 countries. Tripoli is one of 21 destinations to which Emirates currently flies in Africa.

Over the next six months, the airline will launch a further five destinations:  Washington DC. on 12 September, Adelaide on 1 November, Lyon on 5 December, Phuket on 10 December and Warsaw on 6 February 2013.

CfC Stanbic Holdings Records 34 Percent Growth in Half-Year earnings.

The listed financial-services firm records Kshs 1.2 billion, ahead of a planned Rights Issue at the Nairobi Securities Exchange 

Listed financial services company, CfC Stanbic Holdings, has announced a 34 percent increase in after-tax profit for the first half of 2012. Adjusted for discontinued activities following the demerger of the insurance business in April 2011, the half year results are 57% on a like-for-like basis.

CfC Stanbic Holdings which is a member of the Standard Bank Group recorded Kshs 1.2 billion in after-tax profits for the period ending June 30 2012, compared to Kshs 902 million during the same period last year.

CfC Stanbic Holdings Managing Director Mr. Kitili Mbathi attributed the growth to a strong performance by the Group’s diversified mix of businesses which have registered steady growth in the first half year of the year. In particular, despite a tough environment for credit growth, we have seen strong performance by the Global Markets business.

Locally incorporated CfC Stanbic Bank and the equities brokerage firm CfC Stanbic Financial Services are wholly owned businesses of CfC Stanbic Holdings.

“Despite challenging macro-economic conditions, we’ve been able to take advantage of opportunities available to us in the Kenyan market given the diversified mix of businesses the Group owns in addition to the tactical positioning of the balance sheet from the end of last year in anticipation of the interest rate movements in 2012. As a result, the Group’s total income is up 39 percent to Kshs 6.6 billion on prior year.”

CfC Stanbic Bank recorded a 53 per cent rise in profits after tax which stood at Ksh1.3 billion in the first half of 2012 compared to Ksh841 million recorded during the same period last year. The bank’s total operating income increased 40 percent to Kshs 6.5 billion compared to similar period last year.

CfC Stanbic Bank’s Managing Director Mr. Greg Brackenridge said the bank’s recent expansion into the Republic of South Sudan is expected to boost the performance of the banking business’ performance in the medium to long-term.

 “The South Sudan branch, the solid performance of our corporate and investment banking business as well as our focus on the personal and business banking segments should continue to contribute positively to our bottom line,” said Mr. Brackenridge.

CfC Stanbic Financial Services also posted a strong recovery to post a half year after tax profit of KShs23 million compared to Kshs 6.4million during the same period last year.

Mr. Mbathi said the Rights Issue once completed, should bolster the bank’s capital which will better position it to take advantage of the opportunities that present themselves as the macro-economic environment continues to improve in the coming months as well as the expansion of the South Sudan operations.

STANDARD CHARTERED BANK KENYA LIMITED APPOINTS ADVISORS TO FAST TRACK ITS RIGHTS ISSUE

Standard Chartered Bank Kenya Limited’s Rights Issue plans have picked up momentum as the Bank announces the appointment of key transaction advisors. Shareholders approved the Rights Issue during the company’s Annual General Meeting held in May this year. 

The Bank has appointed Standard Chartered Securities Kenya Limited as the Lead Transaction Advisor and Standard Investment Bank as the Lead Sponsoring Stockbroker.

Standard Chartered Bank Kenya Limited will be the Receiving Bank while Mboya Wangong’u & Waiyaki Advocates will be the Legal Advisors. The Reporting Accountant will be KPMG and Custody & Registrars Services Limited will act as the Share Registrar. Image Registrars are the Data Processors for the Rights Issue while Hill + Knowlton Strategies and McCann Kenya Advertising will handle the public relations and advertising respectively.

 

Standard Chartered Bank Kenya Limited  Managing Director Richard Etemesi said that the appointment of the transaction advisors sets the stage for the Rights Issue, which is expected raise KShs 3.2 billion in new capital, subject to the approval by market regulators. 

“The appointment of the advisors is a key step in this transaction, as we will use their expertise to ensure the successful completion of this exercise” said Etemesi, adding that the transaction team will prepare the documents needed for approval by regulators including the Capital Markets Authority and the Nairobi Securities Exchange.

 

Standard Chartered Bank is listed on the NSE with a market capitalisation of approximately KShs 57.1 billion, and is currently trading at KShs 199 per share