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…
Nokia Networks and Oi Brasil signed a partnership to develop Internet of Things ecosystem in Brazil. The companies will setup an LTE IoT lab to work towards solutions and opportunities in IoT, the lab is expected to open in the first quarter of 2016, in Rio de Janeiro, the lab will bring advanced Cellular IoT solutions to the market, including LTE technologies for machine-to-machine communications, to meet the connectivity needs of future communication systems.
Pedro Falcão, Head of Head of Network Technology and Systems at Oi Brasil, said: “Oi is focused on driving innovative solutions to meet the needs of our customers in the fast-changing communications market. The new IoT lab in cooperation with Nokia Networks will allow us to come up with new technology ideas and place Brasil on the global map in terms of IoT development.”
Dimitri Diliani, Head of Latin America Market at Nokia Networks, said: “Nokia Networks foresees a Programmable World of more than 50 billion connected things by 2025. From cars, home appliances and smartphones to industrial equipment and health monitors, devices will be combined in extraordinary ways to improve lives and create boundless possibilities for people and businesses. Through our collaboration with Oi Brasil, we will develop solutions and mobile technology to capture the exciting new opportunities.” Read more