After months of devastating setbacks, wireless network startup LightSquared is considering filing for bankruptcy, according to founder and hedge fund manager Philip Falcone on Wednesday.
Falcone, who’s Harbinger Capital Partners is majority owner of the wireless startup, said bankruptcy could help salvage LightSquared (Reston, Va., USA) by providing more time to deal with its many problems, reports Reuters.
On Tuesday, Siemens Industry, Inc. and Streetline, a provider of smart parking services, announced an advanced parking service combining smart parking meters, sensors and applications to provide cities with parking options for residents and visitors while reducing traffic congestion in downtown areas.
Smart Cities are potentially the next sizeable economic opportunity, not only for operators, but also for city governments. Cities of all sizes, ranging up to eight million people, have been testing and deploying smart applications and services to increase efficiencies and improve the quality of life for residents and businesses. Small cell network technology can be deployed to build a sphere of wireless coverage encompassing entire segments of a city, including indoor facilities and other venues that often fall into coverage gaps or are just too costly for macro network deployment.
Inmarsat said on Tuesday that struggling U.S. telecoms company LightSquared had not made another payment owed to the British satellite firm for licensing part of its spectrum in North America.
Echelon Corporation, a provider of energy control networking for the smart grid, and Holley Metering Limited, a smart metering vendor in China, on Tuesday announced an agreement under which the two companies will form a new joint venture company in China, Zhejiang Echelon-Holley Technology Co., Ltd. (Echelon-Holley), to focus on the development and sales of advanced smart metering products for China.
Fitch Ratings, a global rating agency, expects smart meters will play a growing role in federal and state regulatory and political policymaking, future retail rate design and system reliability standards, according to a report published last week.
Santa Clara, CA
Big Data refers to the growing data industry sector built around capturing, storing, processing, analytics, and extracting value from massive databases of mixed and often unstructured data. This is data that exceeds the ability of most existing database systems to handle. It is the science around the proverbial needle in the haystack. This meeting will address how service providers can, and can’t, monetize their data.
Hedge fund manager Philip Falcone's LightSquared lost its main business partner, Sprint Nextel Corp, but gained $65 million from the breakup that may help its last-ditch effort to get regulatory approval to establish a high-speed wireless network.
Sprint (Overland Park, Kan., USA) said on Friday it would exercise its right to scuttle the $9 billion agreement that would have allowed LightSquared (Reston, Va., USA) to use a network Sprint is building to sell its own high-speed wireless services.
On Wednesday, Cricket Communications, Inc., a subsidiary of Leap Wireless, and Clearwire Corp announced that they have entered into a five-year wholesale agreement. With the agreement, Cricket will become the second operator to have signed onto Clearwire's forthcoming LTE Advanced-ready network, which will provide capacity off-load services to supplement Cricket's own LTE network. Financial terms of the agreement were not disclosed.
This might not be the year the world ends, as some say the Mayans prophesized, but it may seem like it for a telecommunications industry under pressure to meet booming demand for Internet resources.
By some projections, the explosion in adoption of Internet connected devices such as laptops, tablets, smart phones, blue ray players and Internet TVs could strain network bandwidth beyond capacity as soon as this year, causing cases of services loss as available access to network bandwidth becomes completely consumed by peak demand.