Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
South Korea’s KT is taking rival SK Telecom to court, claiming that the latter operator is misleading consumers with claims that it has commercialized the first tri-band LTE-A network.
SK Telecom announced late last year that it has launched a tri-band LTE-A network combining 800-MHz, 1.8-GHz and 2.1-GHz spectrum.
But KT has filed an injunction accusing SK Telecom of deceptive marketing with the assertion, the Korea Times reported.
According to KT, the claim that the network has been commercialized is based on a pilot trial using 100 Samsung handsets, but Samsung has not started marketing the handset that supports tri-band LTE-A.
In a statement, KT officials said it is “absurd” to claim that the network has been commercialized in this context, and the allegedly false claim is likely to “trigger abusive competition and ultimately hurt customers’ interest.” Original post at Telecomasia