Financial News

Alcatel-Lucent Posts First-Quarter Loss

Alcatel-Lucent, a telecommunications equipment maker, announced today that it posted its fifth straight quarterly loss. The company lost 181 million euros ($282 million) compared to a loss of 8 millio

Motorola First-Quarter Sales down 21%

Motorola, the company that manufactured the first commercially available cell phone, saw its overall sales drop 21% in this year’s first-quarter. Sales dropped to $7.45 billion from last year’s fi

Samsung Electronics Posts First-Quarter Profits of 37%

Samsung Electronics announced today that its net profit was up 37% in the first-quarter of this year. Much of the increase came from sales of cell phones in emerging markets. Samsung earned 2.19 trill

NextWave to Sell Spectrum Holdings

NextWave Wireless is planning to sell its holdings of U.S. airwaves. It is estimated that the licenses held by NextWave are worth billions of dollars. The money raised from the sales will be used by N

AT&T to Cut Wireline Jobs but add Wireless Jobs

The largest telecommunications company in the United States announced today that it will cut 4,600 jobs to facilitate a shift to growing sectors of its business. Most of the layoffs will be among mana

Nokia Profits up 25% in First-Quarter

Nokia posted a $1.9 billion profit in the first-quarter of this year, up 25% from last year’s $1.6 billon first-quarter. Revenue grew 28% to $20 billion from $15.6 billion a year earlier. Nokia saw

South Korea’s LG Electronics has Record 1st Quarter Sales

The world’s fifth largest mobile phone manufacturer had a record first-quarter this year. LG Electronics sold 24.4 million mobile phones in the quarter ending in March of 2008. The sales helped the

Troubled Motorola to name David Dorman as Chairman

Motorola, a company that helped bring the cell phone to fruition, has been struggling lately. To recapture world market share, Motorola will name former AT&T chief executive David Dorman to the po

Nokia to Close Plant in Bochum Germany

When Nokia announced in January that it planned to close its manufacturing plant in Bochum Germany, many union leaders and politicians were upset with the world’s largest mobile phone maker. To make

Developing Continents Help Soften Mobile Sales Slowdown

As the mobile phone market in Europe and North America slows down the slack is being picked up by Africa and Asia. Handset manufactures sold 238 million phones in the first quarter of this year, up 10

$18 Million Raised by Thumbplay

Thumbplay, a mobile entertainment company, announced today that it has raised $18 million in new capital. Thumbplay will use the seed money to expand its direct-to- consumer product offerings, in addi

T-Mobile USA Posts Strong Fourth-Quarter Numbers

T-Mobile USA reported good numbers for the fourth-quarter of 2007. The company added 951,000 new customers and generated $4.4 billion in revenue. These numbers are up from 2006’s fourth-quarter, whe

Nortel Networks Sees Tuff Times

Nortel Networks, a telecommunications equipment maker, lost $957 million last year and announced another reorganization. To stop the bleeding, the company will cut 2,100 jobs and move another 1,000 jo

Texas Instruments to Expand OMAP Chip Line Beyond Phones

Texas Instruments announced today that it will add new chip applications beyond the mobile phone market. The new chips will be used in everything from music players to medical equipment. The company,

Qwest Promises to Offer Better Services

Qwest Communications International announced today that it plans to deepen partnerships to offer better video, Internet and wireless services. The company plans on spending around $1.8 billion for cap

BlackBerry Subscriptions Underestimated in Fourth-Quarter

Research in Motion, the BlackBerry manufacturer, announced today that it underestimated last year’s fourth-quarter subscription additions by 15 to 20 percent. Last December the company said net subs

The Wall Street Journal’s Digital Network goes Mobile

The Wall Street Journal Digital Network announced today a free, downloadable application for Windows Mobile phones that provides users access to, and The service w

Motorola may Restructure or Dump Mobile Phone Division

After the New York stock market closed yesterday, Motorola announced that it is considering ways to deal with its ailing mobile phone division. Some have speculated this means selling or spinning-off

North Korea to build new Mobile Network for the Masses

Stalinist North Korea has contracted with the Egyptian company Orascom Telecom to provide mobile phone service in the communist country. North Korea began mobile service in November 2002 but within 18

Comstar to Build WiMax Network in Armenia

Comstar UTS, a Russian land-line operator, announced today that it has started building a mobile broadband network using WiMax technology in Armenia. Comstar will buy base station equipment from Airsp
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