Displaying items by tag: investment
HMD Global, the maker of Nokia brand phones, announced it has raised USD 280 million in new financing from investors including Google, Qualcomm and Nokia. The money will go to strengthening its product offering, including 5G devices and new services, and expanding in new markets, such as Brazil, India and Africa.
The company announced four areas where it plans to invest. First, is affordable 5G smartphones, "with an emphasis on strong partnerships with US carriers".
Second, HMD Global will further transition to digital-first offerings as part of a new post-COVID reality, as well as more consumers buying their phones from internet sellers.
Third, the company plans to expand its presence in key growth markets. This includes the recently introduced operations in Brazil, as well as Africa and India.
Fourth, the investment will help the business strengthen its position beyond hardware and into a "holistic mobile service provider".
This year alone, HMD Global launched its international data roaming service HMD Connect, enhanced its mobile cybersecurity capabilities with the acquisition of Valona Labs assets, and started developing its own software, security and services with a new research and development centre in Tampere, Finland.
It last raised external funds with a USD 100 million round in mid-2018. HMD first started selling Nokia phones in 2016 and has since expanded to 91 markets and shipped over 240 million phones.
Chinese telecommunications conglomerate Huawei has stepped up its legal battle in the United States by filing a lawsuit which is requesting that a US court overturn a federal ban that has been imposed on the company.
Huawei’s European figurehead has blasted the US over its treatment of the Chinese vendor has described their behavior as ‘bullying’.
UK telecommunication operators are pooling together in an effort to try and tackle the coverage issues afflicting rural areas.
Global ride-hailing firm Uber has projected a more measured valuation ahead of its IPO debut on the New York Stock Exchange later this week.
Swiss telecommunications operator Swisscom has launched the continent’s first large scale 5G networks in partnership with Swedish vendor Ericsson.
In a statement released by the Swedish telecommunications behemoth it confirmed that the 5G network was launched in 54 cities across Switzerland after the operator secured a license to operate a 5G network in the country.
Ericsson has seen its financial coffers significantly boosted by its success in the North American market following the publication of its Q1 results.
Ericsson CEO Borje Ekholm expressed his delight at the launch of the 5G networks in Switzerland and predicted that the company would up the ante in relation to 5G in the large parts of Asia by the end of this year.
Ekholm said, “To date we have publicly announced commercial 5G deals with 18 named operator customers, which, at the moment, is more than any other vendor. The company would continue to incur costs for field trials and we’re expecting large-scale deployments of 5G to begin in parts of Asia by the end of 2019. Combined, this will gradually impact short-term margins but strengthen our position in the long term.”
Shares of Ericsson rocketed on the Stockholm stock exchange with the company reporting an increase of 3% which represented a four-year high for the vendor.
Ericsson, one of Chinese telecom giant Huawei's main rivals in the 5G market, said earlier this year it hadn't felt any effects from US pressure on countries to ban Huawei's equipment amid fears that it could compromise the security of the mobile phone networks.
US electronics behemoth Intel has made the decision to withdraw from the 5G smartphone modem business following the unlikely resolution agreement that was brokered between Qualcomm and Apple.
Apple and Qualcomm managed to settle the dispute between both parties over royalty payments and reached a deal ahead of fresh court case that was set to get underway in San Diego next week.
The modems that connect smartphones to telecommunications networks were at the heart of the battle between Apple and Qualcomm. Following the announcement the dispute had been resolved Intel wasted no time in exiting the 5G smartphone modem business.
Intel had clearly recognized and identified that there was an opportunity for them to capitalize on the dispute between Apple and Qualcomm, and then Apple had turned to Intel before reaching the agreement with Qualcomm.
The lawsuit was expected to be a protracted legal battle, but after the unlikely resolution it’s expected that Apple and Qualcomm will now become partners again before there fall out in 2017.
Intel issued a statement in which it indicated that it would complete an assessment of the opportunities for 4G and 5G modems in PCs, Internet of Things devices and other data-centric devices while pursuing investment opportunities in its 5G network infrastructure business.
CEO Bob Swan insisted that 5G will remain a key focus for the US electronics conglomerate and said its diverse portfolio of products will help them to become a major player in the 5G space.
Swan said, “5G continues to be a strategic priority across Intel, and our team has developed a valuable portfolio of wireless products and intellectual property. We are assessing our options to realize the value we have created, including the opportunities in a wide variety of data-centric platforms and devices in a 5G world."
The company also added that it would meet commitments to customers for its existing 4G smartphone modem product line, though it has no plans to launch 5G smartphone modem products, including those previously set to premiere in 2020
Currently under deployment, ultra-fast 5G wireless networks require terminals that are equipped with 5G models and specific network infrastructure.
Apple and US chipmaker Qualcomm will resume their long-running feud as a new court case between the two titans of American enterprise begins in San Diego next week.
The two companies have been embroiled in a bitter row over patent licensing practices for the best part of two years. Last month, a Californian jury ruled in favour of Qualcomm and awarded the company $31m after it found that Apple’s iPhone 7, 7 Plus, 8 and 8 Plus and X infringed two patents.
Apple has expressed its confidence that this new lawsuit in San Diego will rule in their favour as they seek damages of up to $27bn after accusing its one-time supplier of engaging in patent license practices that amounted to double-dipping.
Qualcomm on the other hand are claiming that the US technology behemoth forced some of it business partners to stop paying the company royalties and is seeking $15bn in damages.
The initial lawsuit was filed by Apple back in 2017, which forced the US chipmaker to counter-sue the iPhone maker and winning bans on the sale of some iPhone models in some markets for patent violations.
Qualcomm charges its customers for the chips themselves and also adds on patent licensing charges. It asks customers to sign an agreement before supplying any products.
Apple has termed this "no licence, no chips" policy a way of charging twice for the same thing. Along with its business partners, Apple is seeking an end to this practice and a refund of something in the region of US$9 billion.
This amount could be tripled if the jury comes to the conclusion that Apple's anti-trust allegations against Qualcomm are correct. Apple claims Qualcomm's practices kept rivals like Intel - from whom Apple is now sourcing chips - from competing in this sector for a long time.
Companies that are on contract with Apple, such as Foxconn, have paid the royalties to Qualcomm and been reimbursed by Apple. But Apple has pushed some of these firms to violate their contracts and deprive Qualcomm of about US$7 billion in royalties, the chip producer claims.
A victory for Apple will not mean much in terms of money but it would destroy a business model that Qualcomm has used with great success for many years.
3 UK has expressed their scepticism over Ofcom’s plans to address poor rural coverage in the United Kingdom, highlighting that the costs of the proposal were too excessive and overall the initiative lacked ambition.
3 UK’s Chief Operating Officer, Graham Baxter has called for the regulator to ditch their plans and work collectively with all UK operators in an effort to find a lasting solution to the ongoing problems experienced by users in rural parts of the UK.
Baxter blasted their plans to remove partial hot-spots in the UK’s countryside, areas which are not covered by any of the country’s four major operators.
As a way to incentivise investment, Ofcom in 2018 said it planned to offer mobile operators a discount in a spectrum auction planned for 2020, if they make binding coverage commitments.
Ofcom said two operators could receive discounts of up to £400 million on the cost of spectrum licences by committing to meet three targets within four years; providing good outdoor data coverage to at least 90 per cent of the UK’s land mass; improve mobile coverage for 140,000 buildings; and install 500 new masts in rural areas.
However, Baxter has criticized the plan for lacking ambition, while also hitting out at the expense incurred by the operator to execute the program.
Instead, he said the regulator should push an initiative for a single rural network, which would see the country’s operators jointly invest in a shared infrastructure.
In addition, he urged authorities to relax planning permission rules for taller mobile masts in rural areas of the country.
In addition to this, Baxter also argued that Ofcom’s plan would only benefit two mobile operators, but conceded that a single network would be beneficial for all four of the country’s operators with regards to coverage.
Telecom Egypt announced that it has signed a Memorandum of Understanding (MoU) with Nokia to introduce 5G network and test use cases This announcement took place during the GSMA Mobile World Congress (MWC) in Barcelona, Spain. The MoU has been signed by Adel Hamed, Managing Director and Chief Executive Officer of Telecom Egypt, and Amr K. El Leithy, head of the Middle East and Africa market, Nokia, in the presence of a number of dignitaries from the two companies.
Under this MoU, collaboration between the two sides will focus on 5G deployment as well as the evaluation of appropriate use cases of the 5G technology in the Egyptian market. As a matter of fact, this MoU represents a turning point for Telecom Egypt towards its digital transformation strategy, particularly because the company has already a set of state-of-the-art 5G-ready solutions and services from Nokia.
Adel Hamed, Managing Director & CEO of Telecom Egypt, said: “We are delighted to sign this MoU with our strategic partner Nokia which paves the way for the development of 5G use cases in Egypt. This MoU marks a new chapter of the partnership between the two companies as it will allow our company to support the realization of the digital transformation strategy in Egypt.
We are confident that Nokia with its global expertise will help us maintaining our leading position in providing the best and latest technological solutions to our customers. This is also an ideal opportunity for us to put a strategic roadmap to develop our network capabilities and make sure of its readiness to deploy 5G technologies.
Amr K. El Leithy, head of the Middle East & Africa market at Nokia, said: “This MoU is part of the long-term strategic partnership between the two companies. Nokia, as one of the global leading providers of network and communications technology, is keen to provide the latest communications technologies to the Egyptian market.
We are committed to innovating new and exciting 5G solutions to meet the business objectives of our operator customers. 5G solutions will allow Telecom Egypt to proactively address the increasing data traffic, create new revenue streams as well as continue working on the improvement of customer experience".
Nokia and Telecom Egypt are working together to deploy 5G network with Nokia’s end-to-end 5G solutions that provides ultra-fast connectivity with ultra-low latency. This will allow the operator to flexibly support various use case scenarios and many business models in addition to connecting billions of Internet of Things (IoT) devices to enable smart cities and improve the quality of life for citizens.