Telecom Italia (Rome, Italy), the country’s largest telecom operator, kept its forecasts intact in the face of a rapidly-deteriorating economic climate at home, which took the sting out of a $2.8 billion first-half loss due to a goodwill writedown.
The company blamed deteriorating markets and interest rate trends for its $4.5 billion goodwill writedown on its domestic operations. Still, the company said the writedown would have no impact on its dividend or plans to cut debt and stuck to its forecasts for the year, promising trends at home were improving.
Inmarsat (London, England), a provider of satellite communications services, and SkyWave Mobile Communications (Ontario, Canada), a provider of communication services for machine-to-machine (M2M) applications, on Thursday announced the launch of a new low data rate service for managing and communicating with remote assets around the world.
Wireless telecommunications network operator Clearwire Corp (Kirkland, Wash., U.S.A.) said it would post an operating profit a few quarters sooner than expected, but also said it needs as much as $900 million in new funding.
In after-hours trading, shares of Clearwire almost completely wiped out a 10% gain from the regular Nasdaq session after the company said it needs up to $300 million more to tide it over until it reports positive cash flow sometime next year, and that it needs another $600 million for a network upgrade.
In a new study by research firm Juniper Research (Hampshire, England), it was reported that mobile network operators (MNOs) must explore means of addressing data delivery costs and inefficiencies in base station operations if their networks are to remain economically viable. According to the report, even with the increased deployment and utilization of LTE networks, global MNO data delivery costs could surpass $370 billion annually by 2016, a seven fold increase on their 2010 level of $53 billion.
On Tuesday, a new study by Informa Telecoms & Media (London, England), a telecom research firm, revealed the degree to which spectrum policy and availability is causing the market for LTE to become regionally fragmented. The emergence of distinct regional and national bands and band combinations will pose difficult choices for equipment and device vendors in terms of which bands they choose to support, according to Informa.
Itron, Inc. (Liberty Lake, Wash., U.S.A.), a smart meter provider, announced on Tuesday that it has been selected by Larsen & Toubro, the largest construction company in India, to supply residential water meters as part of an infrastructure upgrade project in Delhi. Over the course of the 18-month project, Itron will provide 250,000 water meters to accurately measure water usage in the metropolitan area--the largest contract for Itron in India to date, according to the company.
Sierra Wireless (Richmond, British Columbia, Canada), a wireless equipment manufacturer, on Tuesday announced that its embedded wireless modules have received technical approval for both AT&T and Verizon’s 4G LTE networks.
The Sierra Wireless AirPrime MC7700 embedded wireless module has received approval for the AT&T 4G LTE network, while the Sierra Wireless AirPrime MC7750 module received approval for the Verizon Wireless 4G LTE network.
Telit Wireless Solutions, Inc., the U.S.-based mobile technology arm of Telit Communications (Trieste, Italy), announced on Wednesday that Direct Communication Solutions (DCS) (Coral Springs, Fla., U.S.A.), a provider of voice messaging equipment and services, has signed a distribution agreement with Telit following its acquisition of Motorola's M2M unit.
On Thursday insurance company State Farm (Bloomington, Ill., U.S.A.) and telematics company Hughes Telematics Inc. (Atlanta, Ga., U.S.A.) announced a joint venture to bring safety and diagnostic features to all State Farm policyholders.
In-Drive, a service customized by Hughes Telematics, includes such features as one-touch emergency response, roadside assistance, stolen vehicle location assistance and vehicle diagnostic alerts and maintenance reminders. The service also includes a website and smartphone app for remote and mobile access, according to State Farm.
According to ABI Research (Oyster Bay, N.Y., U.S.A.), a marketing research firm, the installed base of embedded OEMs and Aftermarket connected car systems is expected to grow from 41 million at the end of 2011 to 189 million by 2016.