BenQ Siemens Probably Pulling Out of Europe
Sep 28, 2006, 4:47 PM by (staff)
After three straight quarters of losses, BenQ has said it will not put any more money into its failing German operations. The company has not announced how its two remaining facilities in Germany will be affected, except to say that it may file for bankruptcy protection. The company is also considering ceasing its Brazilian operations, leaving just its Asian sales as the last remaining foothold in the handset market. In May, BenQ announced it was selling off Siemens' Danish facilities to Motorola in an attempt to reduce bloat and cut costs.
Pantech Files for Bankruptcy In the US
Pantech's U.S. operations filed for Chapter 15 bankruptcy today, following similar legal moves in the company's home market of Korea.
Straight Path to Pay FCC $100M for Squatting On 5G Spectrum
The FCC has fined Straight Path Communications $100 million for failing to deploy wireless service in accordance with spectrum license requirements. Straight Path is sitting on approximately 1,000 licenses for spectrum in the 39 GHz band, which will eventually be used for 5G.
RadioShack Weighing Bankruptcy
RadioShack is considering whether or not to file for Chapter 11 bankruptcy protection as its cash reserves dwindle. The company ended its most recent quarter with just $30.5 million in cash on hand, with debts totaling $658 million.
Verizon to Shutter Some Offices, Eliminate Jobs
Verizon has informed employees that it plans to reduce the number of regional offices around the country and correspondingly reduce headcount. The company has 20 regional locations, which it plans to pare down to just six.
Motorola Has to Stop Selling Phones in Germany
Motorola Mobility USA and Motorola Deutschland have been ordered to stop selling mobile phones in Germany after they were found guilty of infringing on a patent. A German court said Motorola's devices are improperly using patented antenna technology owned by LPKF Laser & Electronics AG.
Wireless Buddy said:
Did they delete the other posts?
good riddance. i haven't seen humor that lame since 6th grade.
Death of Siemens?