COMPANY NEWS IN BRIEF

15 October 2020 | Business

Apple enters 5G race with iPhone 12

Apple Inc launched its next-generation iPhone 12, with faster 5G connectivity that the California company hopes will spur consumers to trade in their old phones and keep its sales booming through the end of the year.

The core of the line-up, the iPhone 12 with a 6.1-inch display, will sell for US$799, while a 'Mini' version with a 5.4-inch screen will be slightly cheaper at US$699.

The new products will test whether Apple can ride a wave of consumer excitement around 5G wireless data networks, whose speediest variants outstrip their predecessors' data rates multiple times over.

Whether iPhone buyers see a dramatic speed boost will depend heavily on where they are and which carrier they use, Bob O'Donnell, head of research said.

He said Apple may be setting some customers up for disappointment when phones ship but offer only modest speed increases until carriers build out networks. – Nampa/Reuters

Cemex extends US$2 bln loan maturities

Mexican cement maker Cemex said it has extended repayment dates on about US$2.1 billion of credit and will prepay some US$530Smillion in loans, as part of a so-called "green" financing deal.

Cemex also changed some US$313 million of dollar-denominated credit to Mexican pesos and around US$82 million to Euros in the deal, under which the company incorporated green metrics into approximately US$3.2 billion of commitments.

"We are pleased with this transaction, which allows us to improve our debt maturity profile and underscores Cemex's commitment to sustainability as one of our key strategic pillars," said chief financial officer Maher Al-Haffar.

The green metrics include reducing net CO2 emissions related to cement products and power consumption from green energy. Performance in respect to the metrics could result in adjustments of interest rate margins of up to 5 basis points, Cemex said. – Nampa/Reuters

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