Mobile World Live (MWL) brings you our top three picks of the week: Bharti Global has struck a deal to buy a large part of BT Group, Google is adding AI to its Pixel 9 phones, and Cisco has cut its workforce by 7 percent.
Bharti Global becomes major shareholder of BT
What happened: Bharti Global joined forces with Altice to acquire its 24.5 percent stake in BT Group, with CEO Allison Kirkby calling the move a vote of confidence in the British telecom giant.
Why it is important: Joe Gardiner, an analyst at CCS Insights, said: “Kirkby’s cost-cutting strategy has resonated with investors. In a matter of months, they have been able to move from short selling to large international backers.” He explained that while the UK government wants to review the deal on national security grounds, “Bharti should be confident that there will be no problems as the Vodafone-Three merger has cleared a significant hurdle.”
Google develops further AI advances in the Pixel 9 range
What happened: Google has predicted Apple’s planned release of the iPhone 16 next month and announced four Pixel 9 smartphones with Gemini AI.
Why it is important: Ben Wood, chief analyst at CCS Insight, said the Pixel 9 series is a strong update from Google and “we expect the momentum around the devices to continue.” “While Pixel products still appeal to a niche audience, their reach is expanding as they become available in more markets and sales continue to grow positively in regions such as North America and Europe,” he noted.
Cisco cuts 7% of its workforce and realigns its portfolio
What happened: Last week’s rumor that Cisco was planning a second round of layoffs has come to fruition. The company announced a restructuring plan that includes a 7 percent reduction in its global workforce of 90,400 employees, a loss of more than 6,300 jobs. CEO Chuck Robbins also outlined how the network, security and collaboration teams will be combined into one unit.
Why it is important: Robbins and his leadership team said the job cuts were part of a shift to greater investments in AI, cloud and cybersecurity. During the fourth quarter of fiscal 2024 earnings call, Robbins said Cisco had reached a $1 billion run rate in web-scale AI.
