Aspiro's Consolidation Program Complete.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Oct. 23, 2000 Aspiro has now completed its rationalization rationalization, in psychology: see defense mechanism. of the organization and costs. Beginning March 2001, the company's monthly result will improve by SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6 million from SEK -17 million to SEK -11 million. The result will then gradually improve further until the company breaks even. This it expects to do during the fourth quarter 2001. Aspiro has completed its planned consolidation program, which was presented at the time of the company's half-yearly report, and now employs 125 people. Aspiro has also closed its offices in Oslo, Gothenburg and Boston. "Aspiro has completed its phase of consolidation and is now focusing on the company's core business: to produce, sell and supply mobile internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. services," says Lena Lena (lē`nə, Rus. lyĕ`nə), river, easternmost of the great rivers of Siberia, c.2,670 mi (4,300 km) long, rising near Lake Baykal, SE Siberian Russia. Wittbjer, Aspiro's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The new, slimmer organization is well prepared for this work." During the coming year Aspiro aims to achieve sales in the region of SEK 500 million, launch 200 new product ideas, including 100 complete product concepts, and deliver 190 products to customers. By the end of 2001 Aspiro expects to have 60 customers. This means Aspiro calculates that it will be in a position to secure a five-percent share of the world market for mobile internet services by the end of 2003. To achieve this requires a turnover in sales of SEK 1 billion. The calculation is based on estimates from Ericsson, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. and others who believe that there will be 500 million mobile internet users by 2003. Aspiro calculates that if every user buys on average two services, the value of the world market for mobile internet will amount to USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 25 billion. Aspiro's estimations are based on that only 10 percent of these revenues will go to service providers such as Aspiro. In addition, by the end of March 2001, Aspiro's new, slimmer organization and completed deliveries will improve the company's monthly result by SEK 6 million from the current SEK -17 million, excluding restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). costs, to SEK -11 million. The result will gradually improve further until the company breaks even. This it expects to do during the fourth quarter 2001 Aspiro's total capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. until the end of the fourth quarter 2001 amount to SEK 130 million. As Aspiro received an infusion of capital totaling SEK 200 million from stockholders in September, the company's capital requirements have been firmly secured. About Aspiro Aspiro provides mobile Internet services promoting life in motion using cutting-edge knowledge and technologies. Aspiro offers operators, content providers and mobile organizations a wide range of solutions, from pre-packaged portal services to industry-specific solutions. Founded in 1998, Aspiro is today an important player in the global mobile Internet market. 125 people currently work for the company, which also has offices in Sweden, Luxembourg and USA. Aspiro's business concept, organization and operations are based on many years of experience gained in the mobile telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and IT industries. For further information about Aspiro, please visit www.aspiro.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/23/20001023BIT00650/bit0001.doc http://www.bit.se/bitonline/2000/10/23/20001023BIT00650/bit0002.pdf |
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