NEW DELHI, July 27- India's largest telecom network operator, Bharti Airtel Ltd, reported a 30.8 percent fall in first-quarter net profit on Wednesday, blaming an adverse foreign exchange impact in Nigeria, although it beat analysts' estimates. Consolidated net profit fell to 14.62 billion rupees in the quarter ended June 30, from 21.13 billion rupees last year,... » Read More
Huawei has given up its quest to conquer the market for telecom network equipment in the US, where the Chinese company's sales have been repeatedly blocked. The FT reports.
British TV decoder maker Pace said on Monday that it had made an early-stage proposal to Internet group Google to acquire its set-top TV box maker Motorola Home.
A month ago, as a United States Congressional committee prepared to warn American telecommunications networks against doing business with two Chinese suppliers, the founder of one of those companies, Huawei, posed for photos with Prime Minister David Cameron of Britain in front of the fireplace at 10 Downing Street in London. The New York Times reports.
The wireless carrier ended its hosting agreement with start-up LightSquared, because regulators say it interferes with GPS navigation devices.
RIM’s market drop has been so dramatic, analyst Mark McKechnie of ThinkEquity says it’s likely too late for a comeback.
In times of financial market volatility, utilities such as telecom firms are generally perceived as safe haven plays for investors. This has been true for the sector in Singapore, where all three telecom service providers have outperformed the broader market.
Vodafone, the UK-listed telecoms company, has warned it faces a doubling of the $2.5bn tax bill it is contesting in the India Supreme Court in July. The FT reports.
With volatility roiling global markets in recent weeks, Christopher Mittleman, Chief Investment Officer at Mittleman Brothers Investment Management, recommends that investors ignore the short-term events - like the Greek crisis - and focus on fundamentals.