Huawei Technologies Co Ltd expects to take in more than $2 billion in revenues selling 4G gear this year as global carriers from China to Europe expand their networks, senior company executives said on Wednesday.
Even though 4G LTE (long-term evolution) promises faster video streaming and Internet downloads, the cost of smartphones would need to come down before the technology can enter the global mainstream, they told reporters in a briefing.
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Cisco Systems Inc on Tuesday announced its first foray into the data storage market, saying it would pay $415 million to acquire privately held storage system maker Whiptail.
Cisco (San Jose, CA, USA) said it will pay cash and incentives for the acquisition, expected to close in the first quarter of 2014.
Whiptail, founded in 2008 and based in Whippany, New Jersey, makes storage systems based on flash memory chips, which allow data to move through servers with greater speed and efficiency as well as higher volume.
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Telecoms equipment maker Alcatel-Lucent has announced that Jean Raby will become its new chief financial and legal officer on September 1.
Raby is set to take over from current chief financial officer Paul Tufano, who is departing amid further organizational changes at the company, aimed at reducing its activities to a smaller number of profitable areas.
More than 1,000 device models from over 100 manufacturers have now been developed for use on 4G LTE networks, according to the latest research from the Global mobile Suppliers Association (GSA).
In its latest industry status report, the GSA says a total of 1,064 LTE device models from 111 manufacturers are now available, noting a recent acceleration of activity in this area.
Indeed, since July 2011, some 647 new device models have been announced, according to the GSA, with the number of manufacturers growing by 66% over that period.
Chinese equipment maker Huawei has taken out a $1.5 billion loan it says will be used for strategic expansion, particularly in Europe.
The loan is repayable over five years and includes a $750 million ‘equivalent term loan’ plus a $750 million ‘equivalent revolving credit facility’, with the facility available in both US dollars and euros but the euro tranche capped at €300 million.