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.
Chinese personal computer maker Lenovo on Wednesday quashed market speculation it was interested in buying struggling Finnish cellphone maker Nokia.
"This must be a joke," Gianfranco Lanci, who runs Lenovo's operations in Europe, Middle East and Africa told Reuters. "There's nothing ongoing."
Shares in Nokia earlier rose up to 17 percent in heavy volumes on market talk that Lenovo may be interested in
Nokia, but gave up most of the gains after Lanci's comments.
Fujitsu Ltd, NTT Docomo Inc and NEC Corp launched a new company on Wednesday to manufacture smartphone chips as Japanese firms attempt to cut their reliance on foreign-made mobile chips.
The venture pits the Japanese companies against Qualcomm Inc, the world's largest mobile chip manufacturer and leading supplier of core microchips used in fast-selling smartphones and tablets.
Fujitsu will own 52.8 percent of Access Network Technology Ltd, which it previously planned to set up on its own.
A round-up of the most important results announcements over the past few days.
Latin American heavyweight América Móvil reported a 45% year-on-year fall in net profit to 13.3 billion pesos (US$1 billion), despite a 9.3% increase in revenues to 191.7 billion pesos. The decline was partly down to the weakness of local currencies, which also drove up the cost of handset subsidies. América Móvil says that with more customers opting for smartphones it is seeing pressure on its margins.
du, the number two operator in the United Arab Emirates, has said it will focus on profitability and worry less about market share, after reporting second-quarter results earlier this week.
The operator reported an impressive 57.1% increase in net income, year on year, to 651 million dirhams ($177 million), but noted a slight fall in its mobile market share, to 46.5%, due to renewed competition from rival Etisalat.
KT Corp., South Korea's No. 2 wireless service provider, apologized on Sunday after personal data of millions of mobile phone subscribers was hacked.
It is the latest in a string of large-scale personal information hacking cases in one of the world's most wired countries.
Police said two computer programmers had been arrested for hacking personal data of about 8.7 million KT subscribers. KT claims a mobile service subscription membership of 16 million.
Apple Inc and Samsung Electronics Co Ltd take their battle for mobile supremacy to court on Monday in one of the biggest-ever technology patent trials, a case with the potential to reshape a fast-evolving market they now dominate.
AT&T’s board of directors today authorized a share buyback of up to 300 million additional shares.
The amount of shares represents about 5% of its outstanding stock and would be worth some $11.1 billion according to Friday’s closing price.
“This action allows us to continue returning cash to our shareholders through dividends and buybacks while maintaining a strong balance sheet and investing in the future of our business,” said Randall Stephenson, AT&T’s chairman and chief executive.