Satellite operator Avanti Communications (London, UK) disappointed financial markets with preliminary results for the recent financial year that missed expectations.
Having made a July forecast that revenues would come in at £17.8 million ($28.5 million), the company reported a top-line figure of just £15 million.
Although a substantial improvement on the £6.1 million generated the year before, the results triggered a sharp fall in Avanti’s share price in early morning trading.
One of TIM Brasil’s minority shareholders has filed a lawsuit against Telecom Italia (Rome, Italy), which owns 67% of the Brazilian operator, claiming the Italian company’s mismanagement has resulted in substantial losses for investors.
According to a Reuters report, JVCO Participações blames Telecom Italia for wiping 10 billion reais ($4.9 billion) off the value of TIM Brasil (Rio de Janeiro, Brazil). In a statement, the investment group said that Telecom Italia “has exercised its controlling power abusively, causing losses to TIM and its shareholders”.
Canada indicated strongly on Tuesday it would exclude Chinese telecom equipment giant Huawei Technologies Co Ltd (Shenzhen, China) from helping to build a secure Canadian government communications network because of possible security risks.
Meanwhile, the European Commission has delayed a trade case against Huawei and another Chinese telecom equipment maker, ZTE Corp (Shenzhen, China), easing tensions between the European Union and China, its second-biggest trading partner.
Verizon Wireless (New York, USA) said it is about two months ahead of schedule in its network upgrade as it will have high-speed wireless service in 400 markets by October 18, ahead of its year-end target for this milestone.
Since late 2010, Verizon Wireless, a venture of Verizon Communications and Vodafone Group Plc (Newbury, UK), has been upgrading its network with a high-speed wireless technology known as Long Term Evolution (LTE).
The European Commission has delayed a trade case against two Chinese telecom equipment makers also under scrutiny in the United States, easing tensions between the European Union and its second-biggest trading partner.
A U.S. congressional report said on Monday that Huawei Technologies Co Ltd (Shenzhen, USA) and ZTE Corp (Shenzhen, USA) -- the world's second- and fifth-largest makers of wireless telecoms gear -- were potential security risks and should be shut out of the U.S. market.
Private-equity group Inverness Graham Investments (Newtown Square, USA) has taken a majority stake in RACO Wireless (Cincinnati, USA) as the M2M specialist reveals its acquisition intentions and predicts a “significant surge” in the growth of the market.
Telefonica (Madrid, Spain) is setting up a business to sell data it collects from millions of its mobile phone customers to retailers which could provide the company with a new source of income.
The Spanish telecoms group, owner of the O2 brand in Britain, Germany and other European markets, has created Telefonica Dynamic Insights to interpret, analyze and sell anonymous data from its phone subscribers.
M2M vendor Cinterion (Munich, Germany) has launched its first industrial-grade M2M module that works on networks around the world and can therefore be used to support voice and data roaming.
Owned by Gemalto (Amsterdam, the Netherlands), the company has developed its PXS8 module for use on the network of US operator Verizon Wireless (New York, USA), which is making a push into the M2M market.
The module could give rise to new business opportunities for global enterprises that want to launch M2M services on networks operated by Verizon and its roaming partners.
Petabytes of data from entire cities or global deployments of sensors, boiled down into actionable metrics that can produce tangible results. That’s the future of M2M deployments according to Intel, and the chipmaker claims it’s not far away. Rick Lisa, the company’s director of M2M global business development, spoke to a gathering of M2M developers at the Telit DevCon event, held on the eve of the CTIA’s MobileCon show in San Diego.
Cisco (San Jose, USA) is hoping to accelerate the development of smart-grid technology with the launch of a developer program that provides participants with access to tools, resources and go-to-market support.
Called the Connected Grid Cisco Developer Network (CDN), the program allows partners to develop services that can be integrated with Cisco’s GridBlocksTM architecture and Connected Grid solutions to support advanced smart-grid capabilities.