Sprint and Softbank Tell U.S. Gov They'll Avoid Chinese Gear
Sprint and Softbank have agreed to unofficial terms requested by the U.S. government with respect to purchasing telecommunications and wireless networking equipment from Chinese vendors such as Huawei and ZTE. Softbank is in the process of acquiring a 70% stake in Sprint, and the agreement is meant to help ease the transaction though the approval process. Government regulators cannot mandate that Sprint and Softbank avoid equipment made by Chinese companies, but lawmakers wanted to make sure they had an ear to the ground when Sprint is purchasing gear. "I have met with SoftBank and Sprint regarding this merger and was assured they would not integrate Huawei in to the Sprint network and would take mitigation efforts to replace Huawei equipment in the Clearwire network," said Rep. Mike Rogers, chairman of the House Intelligence Committee. The U.S. government is concerned that equipment made by Huawei and ZTE could be used by the Chinese government to spy on the U.S. Huawei flatly denies that its products pose any sort of security risk.
ZTE Debuts Mobile Hotspot, Home Phone on Sprint
ZTE today announced two new connected devices for Sprint. The ZTE Warp Connect (pictured) is a mobile hotspot.
Sprint to Sell ZTE Max XL
Sprint today added the ZTE Max XL to is lineup of big-screened Android handsets. The Max XL, which is already available from Sprint-owned Boost Mobile, features a 6-inch full HD display and 3,990mAh battery.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
SoftBank Invests Another $73 Million in Sprint
SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.
SoftBank to Trim Thousands of Jobs at Sprint
Masayoshi Son, CEO of SoftBank, said the company plans to eliminate thousands of jobs at Sprint in order to reduce costs and aid in the company's turn-around plans. Son made the comments while discussing SoftBank's financial performance, which was impacted negatively by Sprint.
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