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Oct 30, 2012

Hurricane Sandy disrupts Northeast US telecom networks

NEW YORK (Reuters) – Power outages and flooding caused by Hurricane Sandy disrupted telecommunications services on Tuesday and coverage was spotty for everything from cellphones and home telephones to Internet services in Northeastern states.

Verizon Communications (VZ.N: Quote, Profile, Research, Stock Buzz) said in the early hours of Tuesday that its wireline service was suffering as flooding in its central offices in lower Manhattan affected its back-up generators and batteries.

Oct 30, 2012

Andreessen Horowitz leads $15.5 million funding of ItsOn mobile firm

NEW YORK (Reuters) – Andreessen Horowitz is leading a $15.5 million round of venture funding for ItsOn Inc, a developer of software that supports more flexible mobile billing options like sponsored data services and split billing for work and personal use.

ItsOn, which has had funding from Verizon Communications, Vodafone Group Plc and Best Buy in the past, said its technology will power a new service for one of the top three U.S. mobile providers starting in early 2013.

Oct 29, 2012

U.S. airlines cancel flights, hotels book up before hurricane

NEW YORK (Reuters) – Hurricane Sandy will likely cause financial headaches for U.S. airlines that canceled more than 7,000 flights to and from the Northeast corridor on Sunday.

Hotels in the region were busy handling cancellations for guests who could not get to destinations in the Northeast, extending stays for guests who could not leave town, and booking rooms for people who left their homes.

Oct 25, 2012

Sprint results beat Street; warns of network delay

By Sinead Carew

(Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) posted a third-quarter loss that was narrower than Wall Street’s expectations on lower marketing costs but warned that its network upgrade has been delayed by about three months.

Sprint, which agreed last week to sell a controlling stake to Japan’s Softbank Corp (9984.T: Quote, Profile, Research, Stock Buzz) for $20 billion, is working on a desperately needed network upgrade. The No. 3 mobile phone service provider, which lost more customers than expected in the quarter, has struggled for years to turn around its business as it competes against larger rivals Verizon Wireless (VZ.N: Quote, Profile, Research, Stock Buzz) (VOD.L: Quote, Profile, Research, Stock Buzz) and AT&T Inc (T.N: Quote, Profile, Research, Stock Buzz).

Oct 24, 2012

AT&T blames disappointing subscriber growth on iPhone

By Sinead Carew

(Reuters) – AT&T Inc added fewer customers than expected in the third quarter due to a shortage of the latest Apple Inc iPhone, highlighting its outsize dependence on the device.

The company’s slowing customer growth shows that it is rapidly losing ground to bigger rival Verizon Wireless. Since most people already have cellphones, operators like AT&T and Verizon have to battle each other to add new customers.

Oct 23, 2012

Broadcom sees fourth-quarter revenue decline

NEW YORK (Reuters) – Broadcom Corp on Tuesday forecast a decline in revenue for the fourth quarter due to challenging market conditions including weakness in its infrastructure chip business.

While Broadcom’s third-quarter revenue was better than Wall Street expected, its weak outlook was not a big surprise as chip makers such as Texas Instruments and Intel Corp have posted weak results due to softness in the global economy.

Oct 23, 2012

Broadcom sees 4th-qtr revenue decline

NEW YORK, Oct 23 (Reuters) – Broadcom Corp on
Tuesday forecast a decline in revenue for the fourth quarter due
to challenging market conditions including weakness in its
infrastructure chip business.

While Broadcom’s third-quarter revenue was better than Wall
Street expected, its weak outlook was not a big surprise as chip
makers such as Texas Instruments and Intel Corp
have posted weak results due to softness in the global economy.

Oct 22, 2012

Texas Instruments forecasts revenue below estimates

NEW YORK (Reuters) – Texas Instruments Inc’s quarterly revenue fell as demand for its chips slipped on economic concerns, and the company forecast more weakness this quarter.

The U.S. chipmaker has been under pressure from a weak global economy and a wavering personal computer industry and is wrestling to fill manufacturing capacity it bought for pennies on the dollar following the global credit crisis.

Oct 12, 2012

Japan’s Softbank takes aim at U.S. market with Sprint bid

TOKYO/NEW YORK, Oct 12 (Reuters) – Japanese wireless service
provider Softbank Corp is looking to buy about 70
percent of Sprint Nextel Corp in an aggressive move that
would make it a major player in the U.S. mobile market.

Softbank’s ambitions may not stop with Sprint, which might
be looking to buy out its partner, wireless service provider
Clearwire Corp.

Oct 12, 2012

Sprint in talks on potential sale to Japan’s Softbank

TOKYO/NEW YORK (Reuters) – Japanese wireless service provider Softbank Corp (9984.T: Quote, Profile, Research, Stock Buzz) is looking to buy roughly 70 percent of Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) in a bold move that would make it a major player in the U.S. mobile market.

But Softbank’s ambitions may not stop with Sprint, which might also be looking to buy out its partner, Clearwire Corp (CLWR.O: Quote, Profile, Research, Stock Buzz). The Japanese company might also be aiming to use Sprint as a vehicle to make a run at smaller Sprint peer MetroPCS Communications Inc (PCS.N: Quote, Profile, Research, Stock Buzz), a two-step transaction that would potentially cost more than 2 trillion yen ($25.55 billion), according to a Nikkei report.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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