Leap Wireless International Inc's quarterly revenue missed Wall Street estimates as more customers defected and average revenue per subscriber (ARPU) at the low-cost mobile services provider fell for the first time in seven quarters.
Shares of the company, which focuses on cost-conscious customers and competes with MetroPCS Communications Inc, fell 15 percent in trading after the bell.
The company said customer retention programs did not work out as well as expected and came at a higher-than-anticipated cost.
Saudi telco Etihad Etisalat (Mobily) has awarded IBM a five-year contract worth 1.05 billion riyals ($280 million) to outsource its information technology operations, it said in a bourse statement on Sunday.
The contract will be self-financed and will lead to improvements in Mobily's products as well as making the company more flexible, it said without further elaboration.
Kuwaiti-headquartered operator Zain has said it plans to focus on data services after posting slight gains in profit and revenues for the six months ending in June.
The company, which operates in eight markets across the Middle East and North Africa, grew net income by 1%, year on year, to 141.9 million dinars ($509.6 million), while its revenues also rose by just 1% to 663.5 million dinars.
Zain says it is facing a challenging industry and economic environment, with tough competition and currency fluctuations putting it under considerable pressure.
Unitech Wireless says it has been given the go-ahead by the Delhi High Court to auction off its assets in India.
The operator is 67% owned by Norway’s Telenor, with Indian property developer Unitech holding the remaining shares. But the two partners have fallen out over the valuation of the business and disagree on how to proceed.
Telenor thinks an open auction will resolve the problem. It plans to form another Indian company and bid for Unitech Wireless assets during that auction. Unitech, however, is opposed to the auction process.
US operator Sprint has signed an agreement with Alcatel Lucent to use the vendor’s lightRadio Metro Cells in its rollout of 4G services across the country.
The technology should allow Sprint to improve the coverage and capacity of its 4G network in busy areas like shopping malls and sports stadiums.
Philippines operator Globe Telecom has reported a sharp fall in profits as it continues to invest in the modernization of its network amid tough competition.
Net income after tax fell by 10% for the first half of the year, to 5 billion pesos ($120 million), compared with the same period last year, despite a 6% increase in revenues to 40.8 billion pesos.
Apple Inc trotted out a veteran designer to bolster its claims that Samsung Electronics copied the iPhone, after the smartphone's 2007 launch triggered a "crisis in design" for the South Korean electronics giant.
Monday marked the second week of a high-wattage trial between the world's most valuable tech company and rival Samsung, which has edged past Apple in market share and is intent on expanding its American footprint.
US mobile giant Verizon Wireless has been forced to pay a $1.25 million fine by the country’s Federal Communications Commission (FCC) for imposing restrictions on its mobile-phone customers.
According to the FCC, Verizon had blocked customers trying to access certain data applications, contravening the terms of its “C-block”, 700MHz spectrum license.
When Verizon received that license it was on the condition that it allowed customers to freely use the devices and applications of their choosing.
Chile has wrapped up its auction of spectrum for new 4G services, raising a total of $12 billion from América Móvil’s Claro, Entel and Telefónica’s Movistar, the country’s three biggest operators.
Each operator receives a 20MHz block of spectrum in the 2.6GHz band, which is being used to support the rollout of 4G services in many other parts of the world.
Qatari telecoms incumbent Qtel has blamed heightened competition and currency movements for a sharp fall in profit during the first half of 2012.
At 1.35 billion riyals ($371 million), net income was 11.8% down on the figure reported for the first half of 2011, despite a 6.1% increase in revenues to 16.4 billion riyals.
Qtel says the bottom line was hit by adverse foreign exchange movement in Indonesia and Algeria. Excluding the impact of currency fluctuations, operational results showed profit growth of 9%, it claims.