Danger Files for IPO
Danger is seeking to raise $100 million in cash in an initial public offering. Danger, which pioneered the T-Mobile SideKick, said it will use $7.2 million of the raised funds to repay bank loans and the remainder to fund operations. Danger has 923,000 customers and earned $54.6 million during its 2007 fiscal year, though it saw a net loss of $12.4 million. T-Mobile generated 92% of Danger's earnings. Danger hopes that more of its revenue will come from other sources in the future.
Apple Awards Face ID Laser Company Finisar with $390 Million
Apple today said it plans to invest $390 million in Finisar, the Texas-based supplier of its VCSEL (vertical-cavity surface-emitting lasers) wafers. Apple uses the VCSEL technology in the iPhone X to power Face ID, Animoji, and portrait photography in the TrueDepth camera.
T-Mobile's LTE Network Covers 300 Million People
T-Mobile said its LTE 4G network now reaches 300 million Americans, a significant milestone for the Uncarrier. The company says it is ahead of schedule, and will add coverage to one million square miles this year.
Sprint Falls to Become No. 4 US Carrier
Sprint reported its second quarter earnings today and the numbers reveal it has fallen behind competitor T-Mobile in the total number of customers. T-Mobile, which gained a total of 2 million new customers during the second quarter, reported a total customer base on 58.9 million.
FCC Fines Chinese Firm $35M for Selling Cell Jammers
The FCC today levied a fine of $34.9 million against a China-based company for marketing and selling illegal cell signal jammers in the U.S. The FCC says CTS Technology marketed some 285 different types of signal jammers to U.S.
Sorry couldn't resist