Network equipment maker Netgear Inc estimated first-quarter revenue and earnings below analysts' expectations, citing lower-than-planned shipments of its new network attached storage product.
Shares of Netgear (San Jose, CA, USA) fell as much as 8 percent in trading after the bell. They closed at $30.88 on the Nasdaq on Monday.
"The late introduction (of ReadyNAS) was not expected to have such an impact on revenue in the quarter," BWS Financial analyst Hamed Khorsand told Reuters.
Italian mobile phone operator Wind is to spend $1.3 billion on building a fourth-generation (4G) mobile broadband network to step up competition to rivals Telecom Italia
The investment will use technology from Italy's Sirti (Milan, Italy) and Huawei Technologies (Shenzhen, China)
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Telecom network equipment maker DragonWave Inc
Cash-strapped DragonWave (Ottawa, Canada), which has been trying to reduce costs since it acquired Nokia Siemens's microwave technology business last June, said last month that it would cut costs further but did not specify what the measures were.
The company cut 116 jobs in Ottawa and Israel in 2012.
Telecom equipment maker Ericsson said on Monday it had struck a deal to buy Microsoft Corp's Mediaroom IPTV business, which makes software used by phone companies to deliver television over the Internet.
Ericsson (Stockholm, Sweden) said in a statement the deal would make the company, the world's biggest mobile networks maker, the leading provider of IPTV.
Chinese equipment maker Huawei expects its revenues to grow at a compound annual rate of 10% over the next five years, despite the current slowdown in the equipment market and its difficulties in the US.
Huawei (Shenzhen, China) provided the forecast after reporting that net profit for 2012 was 32% higher than for 2011, at RMB15.4 billion ($2.48 billion), with revenues up 9%, to RMB220.2 billion.
“In 2012, Huawei met business performance expectations through improved operational efficiency,” said Guo Ping, Huawei’s rotating and acting chief executive.
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