Tag - Harbinger
LightSquared faced even deeper possible consequences from its revoked 4G network permission Friday after investors sued its parent company, Harbinger Capital Partners, for allegedly wasting money in the deal. Movie producer Lili Schad and others accused Harbinger of being "deceptive and misleading" by promising the LTE-based network only to have it rejected by the FCC over GPS interference concerns. Harbinger founder Philip Falcone (pictured) and his company either knew or were careless in ignoring that GPS would be a problem, the lawsuit said, and were costing investors "substantially all" of the money they had invested.
Harbinger fund manager Philip Falcone claims AT&T and Verizon are secretly collaborating to undermine LightSquared. The companies are accused of unfairly using their power to kill LightSquared's chances of successfully completing its plans to build an LTE network, which would directly compete with 4G networks from major wireless providers.
Sprint will wait until it reveals its latest fiscal results to confirm its LightSquared sharing deal, insiders explained Wednesday. The cell carrier should use its July 28 financials to confirm that LightSquared will be paying to use Sprint's cell sites while it grows its 4G LTE network. Terms weren't divulged to CNET but are rumored to involve $20 billion over 15 years.
Infrastructure provider LightSquared has secured an additional $265 million in financing to help the company continue to build out its wholesale 4G LTE wireless broadband and satellite network. This is in addition to the over $2.1 billion that the company has already raised in the past 12 months. The financing was funded by current investor Harbinger Capital Investors, as well as additional existing and new partners.
T-Mobile is the only major contender left to buy Clearwire spectrum, multiple tips said Thursday. Others have backed out on any major deals and would leave T-Mobile the only one buying large pieces of the spectrum, worth up to $2 billion. The Reuters informants said that a deal hadn't been reached partly as T-Mobile was still looking at a possible deal for Harbinger's national 4G network, LightSquared.
The FCC on Friday outlined a strategy to switch 90MHz of wireless spectrum over to cellular Internet access. Spectrum Task Force members at the FCC hope to take up a portion of the mobile satellite service band that had largely gone unused. Flipping the space should provide more bandwidth without cutting into mobile satellite use across the country.
US wireless provider T-Mobile's parent company, Deutsche Telekom, may form a partnership with a New York hedge fund, Harbinger Capital Partners, to roll out 4G service. The financial firm is known to be planning launching an LTE network, as it owns radio spectrum, but unnamed sources for FT indicate it wants to talk to the carrier about cooperating on the build out. The talks are said to be early and with no decisions having been made.
Harbinger Capital Partners, a New York-based hedge fund, has last week revealed it plans to build a nationwide LTE network using terrestrial spectrum that is owned by satellite networks. The firm filed its plans with the FCC on Friday, after getting approval to purchase North American satellite network operator SkyTerra. The company plans on being wholesale only and offer data services exclusively, and use an open access platform. It could become a competitor to LTE networks from established wireless providers that include AT&T and Verizon Wireless.
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Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE