SingTel

SingTel: is revamping its Australian unit, where a drop in revenue and customer spending prompted the co to forecast its first annual sales drop in 13 years. On Wednesday, SingTel said full-year sales will fall by a "low single-digit" rate compared with an earlier forecast for an increase. It cited competition and lower revenue in Australia. CEO Chua Sock Koong says SingTel has reduced the workforce at Optus in Australia by about 10% and is changing how it sells to consumers. Customers will see more Optus-branded distribution channels. Optus is also cutting licensing to other retailers and adding its own stores to compete with its rival Telstra, which has rolled out faster mobile-phone networks to expand market share. The unit wants to consolidate more retail sales under its own brand. That's a change from its previous strategy that allowed companies such as Boost Tel to access its network and sell services and devices under their own name rather than Optus. Optus will end the licence of Boost from January. It will also cease a distribution agreement with TeleChoice, SingTel's biggest third-party retailer in Australia with more than 150 outlets, will end in March so the company can focus on its own network by adding 33 stores. Separately, SingTel is "working through" with its Indian affiliate Bharti Airtel to introduce the Amobee advertising platform. The company had earlier introduced it to PT Telekomsel in Indonesia and Globe Telecom in the Philippines. SingTel says it is now very focused on growing new revenue streams. The focus on acquisitions has slowed down for most telcos and “it's really more focusing on your phone operations and making sure you've managed those operations well." SingTel is down 0.6% at $3.10.