Huawei Technologies (Shenzhen, P.R.C.), the world's second largest telecoms equipment maker, plans to buy Symantec Corp's (Sunnyvale, Calif., U.S.A.) 49% stake in Huawei Symantec (Hong Kong, P.R.C.) for $530 million in a joint venture between the companies that provides security solutions for corporations.
The agreement is subject to regulatory approval, but analysts and company executives foresee few hurdles as the joint venture is based in of Hong Kong. The deal is expected to close in the first quarter of 2012, Huawei said in a statement on Tuesday.
Market research firm Infonetics Research (Campbell, Calif., U.S.A.) on Wednesday released excerpts from its third quarter 2011 Service Provider VoIP Equipment and Subscribers market forecast report, which showed that the global carrier VoIP equipment market lost the 12% it gained in the second quarter of this year, with a 12% decline to $441 million. Overall, the year-over-year VoIP equipment market is down 15%, although the VoIP services market continues to grow.
Cellphone market growth slumped in the third quarter, with the grim economic climate prompting consumers to cut back or delay purchases, particularly in Western Europe, says research firm Gartner (Stamford, Conn., U.S.A.).
Global sales of all mobile phones grew an annual 5.6% in the third quarter to 440.5 million phones, down sharply from 16.5% growth in the previous quarter.
U.S. regulators are investigating the safety of batteries used to power electric vehicles after a General Motors Co. (Detroit, Mich., U.S.A.) Chevrolet Volt caught fire following a routine crash test.
The U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday that it has asked other manufacturers who make electric cars or who plan to do so for information on how they handle lithium-ion batteries. The request also includes recommendations for minimizing fire risk.
In the future, remotely monitoring health conditions may not longer require a bulky connected device, but “Smart Skin.” MC10 Inc (Cambridge, Mass., U.S.A.), a company developing next-generation electronic systems, is working with the University of Illinois to develop smart skin, and epidermal electronic system containing transistors, sensors, receivers and transmitters that can be bent, stretched and wrinkled just like real skin.
Wyless (London, England) and Wireless Maingate (Stockholm, Sweden), two M2M MVNO's, announced a strategic partnership that will provide both companies will access to the others networks.
Telefonica (Madrid, Spain) last Monday announced that it has signed a strategic partnership with Quantenna Communications (Fremont, Calif., U.S.A.), a provider of Wi-Fi networking for home entertainment, including connected devices. Through the partnership, Telefonica looks to make a strategic equity investment in Quantenna, which will give it access to the latest Quantenna technology for the deployment of high performance video services to the home.
Telefonica will invest roughly $3 million in Quantenna, which brings the total investment up to $90 million to date, says Quantenna.
On Tuesday, Cinterion (Munich, Germany), a supplier of wireless modules for machine-to-machine (M2M) communication, announced the launch of a high-speed automotive M2M module with a triple-diversity antenna design. According to Cinterion, the AH3 delivers communications across global 2G and 3G cellular networks for applications such as, onboard vehicle computing, internet access, fleet management as well as automatic eCall and emergency roadside assistance and integrated hands free calling.
Spanish telecom giant Telefonica (Madrid, Spain) stuck to ambitious shareholder return targets on Friday even while nine-month profit fell a more-than-expected 69% in what the group described as a "challenging" operating environment.
The euro zone's biggest telecom in terms of market capitalization announced a 69% fall in net profit to $3.71 billion on a 5.4% rise in revenues to $63.7 billion in the January to September period, with net profit around $410 million below average expectations.
SK Telecom (Seoul, South Korea) has agreed to buy 21% of Hynix Semiconductor (Icheon, South Korea) for $3 billion in its biggest ever acquisition that will help the creditors-turned-shareholders find a new owner for the chipmaker after years of failure.
The $3 billion deal comprises of SK Telecom paying $2 billion to Hynix and the remaining $1 billion to nine shareholders of the world's second largest computer memory chipmaker.