Webwire: Sony wipes $25m from forecast; LightSquared, Sprint LTE deal

Staff writer
29 Jul 2011
00:00
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Daily News

Sony wipes $250m from FY12 forecast

After swinging to a June-quarter loss, Sony slashed its forecast for the financial year ending in March by 20 billion yen ($257.1 million) to 60 billion yen. It had been a rough quarter for Sony, with quake costs, the PSN shutdown and forex losses all cutting into earnings.

New York Times

LightSquared, Sprint sign LTE partnership

US 4G startup LightSquared has signed a long-anticipated LTE network sharing deal with Sprint Nextel. The agreement will see LightSquared pay Sprint $9 billion for equipment and spectrum hosting as well as credits to purchase up to 45% of LightSquared's spectrum capacity.

Washington Post

Vodafone to get $4.5b dividend from VZW

It's official: Vodafone is finally in for another payday from its Verizon Wireless venture. The Verizon-Vodafone joint venture announced it will pay out a $10 billion dividend to its parents early next year – its first dividend payout since 2005 – with Vodafone to receive $4.5 billion.

Reuters

Logitech slashes Google TV prices after poor sales

Logitech has slashed the price of internet-enabled Google TVs from $249 to $99, after revealing that more people are returning the sets than buying them.

Washington Post

FT may sell Swiss, Austrian, Portuguese units

France Telecom is considering selling off its Swiss, Austrian and Portuguese units, assets which together could be worth as much as €2 billion ($2.86 billion). The company just missed analysts' forecasts with its Q2 results.

Reuters

Nextel Mexico gets Chinese loan for Huawei gear

Mexico's Nextel will borrow $375 million from the China Development Bank to purchase 3G network equipment from Huawei.

Reuters

KT to cut rates, won't say how much

Korea's KT has confirmed it will cut rates in response to rival SK Telecom's discounts and regulatory pressure, but did not yet reveal the scope.

Korea Times

US White House rickrolls Twitter

US White House officials used a Twitter account to rickroll a tweeter complaining about a discussion on policy issues being boring.

Sydney Morning Herald

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