THE WRAP: Cisco's surprise, Tencent's war

Robert Clark
12 Nov 2010
This week Cisco sparked a tech sector sell-off after announcing a surprise cut in guidance, and Huawei once again was ruled out of a big US contract.

Cisco boosted profit 9% after a sharp ramp-up in quarterly sales, but sent the market tumbling after unexpectedly warning of much lower demand.

Sprint excluded Chinese vendors Huawei and ZTE from its giant 4G tender on security grounds after being lobbied by Obama Administration officials.
After weeks of squabbling with anti-virus firm Qihoo, Chinese web giant Tencent blocked access to Qihoo users, cutting off millions from its QQ service.

The Ministry for Industry and Information Technology (MIIT) launched a probe into the dispute, warning of new rules to rein in the internet sector.

The global handset market grew 35% in the third quarter, with no-name Chinese-made phones taking market share away from the top vendors.

China Mobile is ready to run the world’s first metro TD-LTE trials.

Google denied Facebook access to its Gmail user data on the grounds that the social network site did not reciprocate.

The search firm also fired an employee for leaking a memo announcing a company-wide 10% payrise, and pressured an Australian wine and beer website to dump the name “Groggle.”

Vodafone will sell its stake in Softbank for $5 billion over the next 18 months.

SingTel’s profit fell 3.5%, held back by lower contributions from big regional affiliates Bharti Airtel and Telkomsel. Bharti’s income fell 27% as network expansion costs and price competition took their toll.


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