Network storage equipment maker Brocade Communication Systems Inc's third-quarter results beat Wall Street estimates, boosted by a 13 percent rise in storage equipment sales, and the company said its chief executive intends to resign.
Shares of the company rose 11 percent after the market-topping results but lost all of their gains on news of the CEO's resignation.
A faltering recovery in the United States and weakness in Europe has hit network equipment makers as telecom service providers, their biggest customers, cut spending and delay purchases of new equipment.
Taiwanese smartphone maker HTC Corp said it will buy a 17.1 percent stake in a U.S. next-generation enterprise platform company for $35.4 million in order to enhance service offerings to its mobile enterprise customers.
"The investment will bring social, mobile, and cloud capabilities to HTC's portfolio of service offerings to its mobile enterprise customers," HTC said in a statement on Monday.
Big retailers such as Wal-Mart Stores, Target Corp and Japan's 7-Eleven are planning to develop a mobile payment network, the Wall Street Journal reported, citing people involved in the initiative.
The Merchant Customers Exchange (MCX) is an initiative taken by these retailers to match similar services from Google, which began operating it last year on its Android devices, the WSJ said.
It was unclear how much each merchant would contribute to the network's development, the paper said.
BlackBerry maker Research In Motion is looking to sell cloud services provider NewBay and some of the other minor assets it recently acquired, as part of a strategic review process, according to a source familiar with the matter.
RIM acquired NewBay, a provider of photo, video, and social-networking tools for smartphones and computers, in October 2011 for reportedly around $100 million, as it sought to roll out a new strategy to stem its steady decline.
RIM declined to comment on the sale report.
The number of worldwide cellular M2M connections is forecast to soar from its current level of 277 million to a staggering 2.5 billion by 2020, according to a new report from Strategy Analytics.
A combination of factors, including global connectivity platforms, efforts at standardization, cloud computing and regulatory initiatives will help contribute to a compound annual growth rate of more than 30% between now and 2020, says the company.
Strategy Analytics reckons that most M2M activity will come in the areas of mHealth, smart metering, telematics and automation.
Sierra Wireless (Richmond, Canada) has reported impressive top-line gains and profits on the back of its growing M2M business and sales of 4G products.
The vendor—which makes modems, routers and gateways and develops software and services for wireless applications—reported a 19.7% year-on-year increase in revenues, to $167.4 million, for the second quarter of 2012.
Net earnings, meanwhile, came in at $3.58 million, compared with a loss of $6.77 million for the same period last year.
German telecoms giant Deutsche Telekom has opened an M2M developer community in a bid to spur the growth of the M2M applications market.
The operator says the community will allow developers to access tools like APIs, programming guidelines and software development kits (SDKs), making it easier for them to develop and sell M2M applications.
Novatel Wireless (San Diego, USA) has reported a 13% year-on-year fall in second-quarter revenues, to $102.4 million, while the company’s net loss rose to $4.5 million from $3.9 million this time last year.
The maker of USB modems, embedded modules and smart M2M modules blamed the impact of competing products for the sales decline.
Two forces today are reshaping the telecoms landscape: the proliferation of connected devices and the elevated expectations of consumers for richer customer experiences. In order to remain competitive and overcome the challenges these forces have created, organizations need to adopt a technology services business model that supports the increasing demands from consumers, improves customer experience and retention and continues to drive bottom-line growth for businesses.