UIQ Files for Bankruptcy
UIQ's CEO Johan Sandberg told Reuters in a recent interview that the company has filed for bankruptcy. UIQ was jointly owned by Sony Ericsson and Motorola, and supplied a version of Symbian to some mobile handsets. UIQ's bankruptcy comes partly as a result of Nokia's purchase of Symbian, which it plans to make available for free. Sandberg said, "There are no opportunities to create a new line of business in the current financial climate." Symbian had been reducing staff levels, but still has 200 employees as of last month.
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.
RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors.
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.
AT&T to Buy Second Mexico Carrier for $1.875B
AT&T today announced its intent to purchase Nextel Mexico, which covers 76 million customers across the country. Nextel Mexico is owned by NII Holdings and AT&T will pay it $1.875 billion.