Joseph O'Halloran | 28-07-2013
As it reported its financial results for the first half of 2013, Technicolor has revealed that its connected home business has reported a fifth consecutive quarter of double-digit year-on-year growth.
For the half year ended 30 June, even though the leading media and entertainment technology reported €1.6 billion of revenue, down 1.9% year-on-year, it turned around a €26 million loss in to a €6 million profit. This, explained the company, was driven by what it said was ongoing momentum in the emerging markets and additions to the division’s product mix. Revenues for the second quarter of the year were €814 million, down 3.8% on the same time in 2012.
Looking at individual business lines, the technology division reported revenues above €100 million, driven by Technicolor’s licensing programmes whilst the entertainment services division increased revenues year-on-year excluding legacy activities, reflecting aid the company the return to growth of digital production and a sustained performance of DVD Services.
Technicolor claimed that contributions to standards were strong in the first half of 2013, particularly for the MPEG HEVC and MPEG-H audio standards. Following the recent agreement with Sony to reinforce the company’s ability to monetise its IP portfolio for key technologies used in mobile devices, Technicolor confirmed that it will launch new initiatives to expand its licensing activities, notably in the field of smartphones.