Word: nokia
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...then waved through a draft bill allowing the state's share in former monopoly France Télécom to drop below 50%. Update One of Turkey's wealthiest families, the Uzans - profiled in time last week - was found guilty of perpetrating a "huge fraud" against Motorola and Nokia. A New York federal judge found the Uzans had "siphoned" hundreds of millions of the two telecom firms' money "into their own pockets." They have been ordered to pay the companies more than $4.2 billion. The Uzans say they will appeal. TIME Europe: Uzan's Troubles...
...Phone fed the craze for multimedia messaging--sending enhanced cell-phone snapshots to your friends--with Openwave software. Openwave's annual revenue has stabilized at $250 million. The stock is back above $2. Multimedia messaging is just starting to take off in the U.S. and Europe, via Sprint and Nokia. Analysts expect Openwave to be fully profitable in 2004. Perhaps then Listwin can afford to celebrate with a new suit. --By Chris Taylor
...Turkish. "He is biased against Turkey, against the Turkish people." As for the High Court judge in the U.K. who slapped Uzan family members with a 15-month jail term for contempt of court and a worldwide freeze on assets, he "thinks he rules the world." The whole Motorola-Nokia lawsuit is merely a "business dispute between one company and another" and should be dealt with in arbitration, says Uzan. He claims his family would have paid back the money if Turkey had not suffered a major economic crisis. That doesn't help Nokia and Motorola. As a result...
...himself is barred from leaving the country because of the bank imbroglio. And that's just the family's troubles in Turkey. In New York, a judge could rule as early as this week on a fraud and racketeering case brought against the Uzans by Motorola and Nokia. The mobile-phone giants allege that the Uzans lured them into loaning $2.7 billion in cash and equipment to an Uzan-controlled company, Telsim, and that the family had no intention of repaying the loans. Hundreds of millions of dollars of the Uzans' overseas assets have been frozen pending the ruling, which...
...company, with annual revenues of $6.32 billion, doesn't manufacture drams at all. It focuses instead on logic chips, and increasingly on flash memory cards, used to store pictures taken with a digital camera. Another difference: STMicro has formed partnerships with several key customers, such as mobile phone maker Nokia. This allows the company to involve its customers early on in the development of semiconductors. "This secures a very strong and loyal customer base," says analyst Malcolm Penn. STMicro was criticized for not jumping in when the dram cycle was up. But analysts say it takes strong nerves and experience...