WASHINGTON (Reuters) - Sprint Corp's <S.N> newly appointed Chief Executive Marcelo Claure has so far had a Midas touch in the telecoms industry, turning Brightstar, a reseller of U.S. handsets to Latin America, into a distributor valued at $2.2 billion when it was sold to Japan's SoftBank <9984.T>.
But his talents will now be put to the test like never before as he must complete the No. 3 carrier's network upgrade while trying to retain customers, who are defecting in droves.
FRANKFURT (Reuters) - The European Central Bank (ECB) has no plans to end its business relations with U.S. telecoms firm Verizon Communications Inc, ECB President Mario Draghi said in response to a query from a member of the European parliament on Thursday.
The German government said in June it had canceled a contract with Verizon as part of an overhaul of its internal communications, prompted by revelations last year of U.S. government spying.
In the letter to Fabio De Masi, Draghi wrote that the ECB "takes the threat of economic espionage very seriously".
(Reuters) - Sprint Corp S.N has dropped its bid to acquire No. 4 U.S. carrier T-Mobile U.S. Inc TMUS.N after regulatory resistance showed no signs of softening despite months of lobbying, people familiar with the matter told Reuters.
Sprint's shares plunged 19 percent to $5.90, while T-Mobile fell 10 percent to $30.38 on Wednesday.
The move is a rare setback for Sprint's Japanese parent, SoftBank Corp 9984.T, whose billionaire founder Masayoshi Son had seen the acquisition as key to taking on U.S. market leaders AT&T Inc T.N and Verizon Communications Inc VZ.N.
TORONTO (Reuters) - BlackBerry Ltd <BB.TO> has concluded a protracted and painful restructuring process and is back on a growth footing, according to an internal memo to all its employees viewed by Reuters.
"We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us," said the memo from BlackBerry's Chief Executive John Chen that was sent out on Friday.
WASHINGTON (Reuters) - French telecoms firm Iliad will be hard-pressed to meet its goal of generating $2 billion in additional annual operating profit at T-Mobile US Inc by cutting costs and slashing prices if its takeover bid is accepted, analysts said.
Iliad, which in recent years has shaken up the French mobile market with cheap subscriber plans, bid $15 billion last week for a 56.6 percent stake in T-Mobile, the No. 4 U.S. mobile operator.
TORONTO (Reuters) - Canada's three biggest telecom firms, keen to keep shareholders happy with fat dividends, are breaking into businesses ranging from banking to healthcare to drive growth as they run out of expansion options and shy away from overseas purchases.
BCE Inc <BCE.TO>, Rogers Communications Inc <RCIb.TO> and Telus Corp <T.TO> dominate their industry in Canada but with landline connections on the wane, cable TV losing out to online portals and wireless growth slowing, Canada's telecom giants are pushing into uncharted businesses.
BEIJING (Reuters) - "Hundreds" of Chinese employees at Microsoft Corp's Nokia phone business protested on Friday against mass layoffs that the U.S. tech company announced last month, according to an employee present and pictures posted on social media networks.
Protesters held banners and shouted slogans against "Microsoft's hostile takeover and violent layoffs" for five hours until "they had sore throats," said the employee who participated in the demonstration and so declined to be identified.
(Reuters) - T-Mobile US Inc on Thursday posted its first net profit in a year, raised its forecasts for subscriber growth and reported the most postpaid phone subscriber additions in the industry.
The second-quarter results, which showed slower decreases in average revenue per user, eased investor's fears that the No. 4 U.S. mobile operator's success in luring subscribers from competitors was not sustainable.
"What matters most for T-Mobile and Sprint is subscriber growth, said Cowen Group analyst Colby Synesael.
BEIJING (Reuters) - Xiaomi Inc, the three-year old company known as the Apple of China, has become the world's No.5 smartphone maker by market share while Samsung Electronics Co Ltd's lead has continued to shrink, a report by Strategy Analytics shows.
Three out of the world's top 5 smartphone sellers were Chinese manufacturers in the second quarter, Strategic Analytics said, as China's low-cost offerings on the Android operating system whittle away Samsung's market share.
HONG KONG (Reuters) - China's Huawei Technologies Co Ltd said smartphone shipments in the first half rose 62 percent year-on-year, as it targets the more expensive smartphone sector dominated by Samsung Electronics Co Ltd and Apple Inc.
Shenzhen-based Huawei has shipped 34.27 million smartphones globally in the first six months ending June 30 - about 43 percent of its annual shipment target of 80 million, according to Reuters' calculations based on figures provided by Huawei.