China's ZTE Corp, the world's fourth-biggest handset maker, plans to ship more high-end smartphones this year to help increase profit margins and revenue, a senior company executive said on Wednesday.
ZTE (Shenzhen, China) expects to ship more than 50 million smartphones in 2013, exceeding its earlier forecast, and sees smartphones making up 70 percent of overall consumer device sales this year, Lv Qianhao, head of ZTE's handset strategy, told Reuters in an interview on the sidelines of a company event.
Talks to divide $9 billion raised from the sale of businesses of Nortel Networks, the telecoms equipment maker that went bankrupt in 2009, ended without agreement, and the mediator said on Thursday further discussions were no longer worthwhile.
The failure of nearly two weeks of talks in Toronto raises the prospect that disputes among various creditors and retirees around the world could lead to years of litigation over how to divide the cash.
Cisco Systems Inc is selling its home networking business to Belkin, the networking giant's latest move to exit the consumer business.
The companies did not disclose the financial terms of the deal, which Belkin (Playa Vista, USA) said on Thursday is expected to close in March.
With the sale, Cisco (San Jose, USA) sheds one of the last remaining pieces of its consumer business, following the shutdown of the Flip video camera business in 2011.
Earlier this month, Cisco said it would shutter its Umi online video-conferencing service.
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An undersea fiber-optic cable that promises to bring Cuban Internet and phone communications into the 21st Century stirred to life this week, two years after it was laid between Venezuela and the Caribbean island.
Financed by the Venezuelan government, the ALBA-1 cable under the Caribbean was laid with much fanfare in 2010 and connected to Cuba in February 2011. Since then it has been dormant and the government silent as to why.
Huawei expects to generate revenues of RMB220.2 billion ($35.4 billion) for 2012, an increase of 8% on 2011, and forecasts sales growth of 10–12% this year.
Net profit at the company is forecast to rise 33% for 2012, to RMB15.4 billion.
The company remains on the defensive following a report by US authorities that argued both Huawei (Shenzhen, China) and smaller rival ZTE (Shenzhen, China) represent a security risk and should be avoided by US operators.
Nokia Siemens Networks (NSN) is planning to raise as much as 700 million euros ($930 million) from public markets in the spring to pay down debt and fund investment, the Financial Times said on its website on Sunday, citing people familiar with the plan.
The high-yield bond will be the first time the Nokia (Helsinki, Finland) and Siemens (Munich, Germany) joint venture has tapped public markets, the FT said, and it will test investor appetite in the telecoms equipment maker ahead of a possible listing.
Networking equipment company Cisco Systems Inc has acquired a small stake in Russian software developer Parallels, Parallels said on Thursday.
Parallels (Moscow, Russia) said in a statement that Cisco (San Jose, USA) has bought about 1 percent of the company and added that the stake sale does not rule out a possible initial public offering of the Russian firm.
"We are looking at all possible ways to ensure liquidity options: dividend payouts, IPO, mergers and acquisitions," Parallel's press service said.
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France backed away from legislation to make Internet companies including Google pay for the burden they place on telecommunications networks, opting instead to ask a commission to study the controversial issue.
Fleur Pellerin, junior minister for the digital economy, said the government would ask the National Digital Council, a panel of tech experts and entrepreneurs, to evaluate whether a law was needed and how it might work.