Indian authorities dismissed Nokia's appeals over an income tax demand of 20.8 billion Indian rupees ($370 million), the phone company said, a setback for its efforts to resolve the dispute in a crucial market.
Nokia's (Helsinki, Finland) India unit was served in March with the tax demand for five years starting from 2006/07, in one of several tax disputes involving a foreign company in India.
The Finnish phone company said on Friday that it will examine all options, including taking the case back to the Delhi High Court. ($1 = 56.2450 Indian rupees)
Sprint Nextel Corp and Japan's SoftBank Corp have reached an agreement with U.S. authorities on the national security aspects of the Japanese firm's pending $20.1 billion deal to win control of the U.S. wireless carrier, people familiar with the matter said.
As a part of that agreement, the U.S. government will have a veto over new equipment purchases by Sprint in certain circumstances if the two companies merge, one source said.
India’s Sistema Shyam Teleservices (SSTL) saw its net loss widen to INR6.4 billion ($115 million) in the first quarter of 2013, from INR5.3 billion a year earlier, after license revocations forced the operator to shut down much of its business.
Owned by Russia’s Sistema (Moscow), the parent of Russian mobile-phone operator MTS, SSTL (New Delhi, India) reported a 14% drop in revenues, to INR3.5 billion, after closing networks in 13 of India’s telecoms circles.
SoftBank Corp would appoint a "security director" to Sprint Nextel Corp's board if its takeover bid succeeds and give the U.S. government right of approval on the appointment in hopes of easing national security concerns raised by the proposed deal.
Sprint (Overland Park, KS, USA) said in a filing with the U.S. Securities and Exchange Commission on May 1 that the new director appointed by Tokyo-based SoftBank would oversee public safety concerns related to Sprint's wireless and wireline operations.
It seems mobile network operators are constantly being urged to play a bigger M2M role than that of connectivity provider, but Telenor Connexion claims its focus on connectivity is helping it stay ahead of the competition.
The operator this week announced a new deal to provide connectivity services in Europe and Asia for Geotab, a North American fleet telematics specialist now expanding its service internationally.
Dish Network Corp has rolled out an advertising campaign suggesting a deal by a Japanese company to acquire Sprint Nextel Corp could threaten U.S. national security, hoping to sway lawmakers and win support for its rival offer.
The campaign, which so far appears on the Internet and in Washington-area newspapers, is Dish's most public lobbying effort yet against Japan-based SoftBank Corp (Tokyo).
The 14th annual Wireless China brings together senior representatives as well as key decision makers from government, industry and research communities with a vested interest in wireless. A two day educational program will present attendees with an opportunity to learn and discuss topics related to 4G LTE/TD-LTE, Wi-Fi, Radio Spectrum, Public Safety Broadband, Wireless LAN, Bluetooth and ZigBee connectivity plus much more. An accompanying exhibition showcases new products and allowed potential business partners to meet.
Singaporean telecoms incumbent SingTel has reported a sharp fall in quarterly profits owing to losses booked on the sale of its stake in Pakistani operator Warid.
The operator said net income dropped by 33%, to S$868 million ($696 million), for the three months ending March 2013 due to the loss of S$225 million resulting from the sale of Warid.
Comparison with results in 2012 also looked unfavorable due to an exceptional tax credit of S$270 million booked in the final quarter of the previous financial year.
Asia’s burgeoning smart-grid market is expected to generate $15.83 billion in revenue in 2018, up from just $5.4 billion in 2012, as demand response and energy management systems grow in popularity.
The forecast comes from Frost & Sullivan, which also believes that “Southeast Asia’s desire to switch to smart grids” will fuel smart-grid sales over the next six years.
The market-research company says Asia’s smart-grid market has already been given a huge boost from the rollouts of advanced metering infrastructure in Australasia and smart city projects in North Asia.
Alibaba Group, China's largest e-commerce firm, will take a 28 percent stake in digital mapping company AutoNavi Holdings Ltd, part of Alibaba's move to boost its competitiveness by beefing up its product lineup.
Unlisted Alibaba (Hangzhou, China) will invest $294 million to become the largest shareholder in the Chinese-based firm, according to a statement from AutoNavi (Beijing, China) on Friday which confirmed an earlier report from news portal Sina (Shanghai, China).