Webwire: LG hires more staff; Motorola patents eyed by Icahn
LG Group, which has already hired 13,000 employees this year, will add 4,000 more by the end of the year. Around 25% of new employees will be R&D staff tasked with attempting to find a competitive edge against its rivals.
Motorola's biggest shareholder, Carl Icahn, is pressing the company to profit from its extensive patent portfolio, hinting at a patent sale.
Apple will pay $2.6 billion (€1.8 billion) of a $4.5 billion consortium bid for Nortel's patent portfolio.
Verizon swung back to a profit of $1.6 billion (€1.1 billion) in the second quarter, and revealed that president Lowell McAdam will formally take over from Ivan Seidenberg as CEO on August 1.
Spain's Telefonica and the UAE's Etisalat will co-operate on procurement, technology and R&D, in a bid to cut costs.
Apple could bid for video streaming venture Hulu to bolster its online video portfolio and complement its Apple TV service. But Apple has never made such a large acquisition – the purchase price could exceed $2 billion (€1.3 billion)