Word: telecoms
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Robert Dalias was convinced he had a better mousetrap--a new kind of switching device that U.S. telephone companies seemed eager to buy from his start-up company, WaveSmith Networks. But as the telecom crash washed over his customers and prospects, one after another canceled or postponed orders. His venture-capital investors started making nervous noises. So Dalias looked abroad for help. Despite having a meager track record and no multinational distribution channels, the CEO landed his first big sale, to NetOne Systems, a leading tech distributor and systems integrator based in Tokyo, and that success helped Dalias close...
MobilCom might have been a great company if it didn't get saved so often. Burdened by debt from its 3G venture, the firm faced insolvency after France Telecom stopped its funding. Then Gerhard Schröder, mindful of the elections and the 5,500 jobs at risk, announced a ?400 million lifeline. Such bailouts are notorious monetary black holes, and analysts quickly noted that MobilCom would soon need another infusion without big changes. But for two reasons, this rescue may be different. First, commercial banks are no longer playing along, as they did in 1999 when pressured to save...
Michel Bon turned France Telecom (FT) from a national fixed-line phone company into a European powerhouse. But the acquisition binge that brought the company Orange, a 28.5% stake in MobilCom and a disastrously expensive 3G presence also left it with a staggering debt of nearly ?70 billion, and as Bon resigned last week that looked like his lasting legacy. FT now seems to be headed for a ?10-15 billion rights issue to plug next year's funding gap. But that's a flimsy plaster for a company that hemorrhaged ?8.3 billion last year and ?12.2 billion in this...
Verizon Wireless is rolling out service in the U.S. based on Qualcomm's BREW virtual machine platform. The technology, already used by mobile operator Korea Telecom Freetel (KTF), allows software developers and carriers to provide a wide range of new mobile data applications and coordinate billing and payment. For the first time, American consumers will be able to use phones to download software in much the same way they now do on their PCs. One of the most popular applications is expected to be sophisticated games that users can play off-line. To promote the service, Verizon is selling Sharp...
...mail has been another key to South Korea's mobile-telecom success. About 80% of Korea's 47 million people will soon be connected to the Internet at home, with more than half using high-speed connections. A new service offered by Daum, a South Korean Web portal with 32 million users, allows users to forward the free e-mail they receive on their PCs to their mobile phones for the nominal fee of $1 a month and has become an instant...