Yesterday, Sprint Nextel Corp posted a wider third quarter loss, as the United States’ third-largest mobile carrier could not stop subscribers from switching to its rivals. Net loss for the quarter stood at US$478M, up from a loss of US$328M a year ago. Sprint Nextel Corp attempted to lure customers in with Palm Inc.’s Pre [...]
MetroPCS Communications Inc.’s share price hit a 52 week low of US$7.08 yesterday, after Wal-Mart Stores Inc. announced that it will expand its low-price, prepaid mobile services across the U.S. Wal-Mart developed the service with TracFone Wireless Inc., the U.S. unit of Mexican billionaire Carlos Slim’s American Movil. It will offer the prepaid service nationwide [...]
A new number one mobile phone company may emerge in the UK, as Deutsche Telekom and France Telecom announced plans to join forces, merging their T-Mobile UK and Orange UK units respectively. If the 50:50 joint venture becomes a reality, the new business will command 37% of mobile subscribers in the UK. The arrangement will [...]
Research in Motion (RIMM) Ltd. topped Forbes’ list of 2009′s fastest-growing companies. Dominating 74% of the business smartphone market, RIMM has sold over 65 million phones over the past ten years. But the Blackberry, once considered just a ‘business’ phone, is breaking new ground, targeting a non-business audience with applications like BB Messenger which is [...]
Fierce competition in the tech world has forced players to try and come up with new ideas to win over market share. This is exactly what the world’s biggest software provider has done. Yesterday, Microsoft Corp and Nokia Corp formed a strategic alliance which will see Microsoft Office applications become available on a variety of [...]
Things have continued to worsen for Nortel Networks Corp, the Canadian telecommunications giant that is now in the process of being liquidated. Yesterday it was announced that the company’s CEO – Mike Zafirovski – is stepping down effective immediately, and that it is cutting the size of its board to three members from nine. It [...]
Sprint Nextel Corp, one of yesterday’s top volumes on the New York Stock Exchange, saw its shares plunge 11.76% after posting disappointing second quarter results. The mobile phone operator said its net loss grew 11.63% to US$0.13 per share, while analysts expected a narrower loss of US$0.09. Although Sprint added 777,000 pre-paid customers, it lost [...]
Verizon Communications Inc., the United States’ largest wireless carrier, reported yesterday that its second quarter profit fell 21% to US$1.48B or US$0.52 per share from the same period last year. Verizon’s wholesale and corporate segments were most affected, as business customers cut phone lines, overshadowing growth in its wireless segment. After failing to keep cost [...]
Nokia Corp, the world’s largest manufacturer of mobile phones, was forced to reduce its outlook for profit margins and market share, partially due to intense competition from Apple’s iPhone and Research in Motion’s Blackberry. Nokia’s revised forecast includes flat market share, compared with the increase it previously expected. It also affirmed its forecast that the [...]
Telefonica SA was awarded the exclusive contract to distribute Palm Inc.’s new smartphone (the Pre), in its European markets. The Pre, which was just unveiled to U.S. consumers in June of this year, will be available through Telefonica’s businesses in the UK, Germany, Spain and Ireland before the close of 2009. This new deal adds [...]