THE WRAP: India rocked by 2G scandal
This week a $39 billion scandal engulfed Indian telecom, while the Beatles finally made it to iTunes.
Indian telecom minister A Raja resigned over the allocation of 2G licenses two years ago, reportedly costing the government up to $39 billion (€28.4 billion) by not holding an auction.
As the scandal widened, investors sharply marked down Reliance Communications’ stock while the regulator called for the revocation of many licenses.
An Indian judge ordered Vodafone to immediately pay $550 million (€401 million) in taxes, even though its long-running dispute over back taxes is still before the courts.
The Beatles came together with iTunes after Apple finally struck a deal with EMI and the band members. Already 55 Beatles songs occupy spots in the iTunes top 200.
Google Voice finally made it to the App Store.
The UK faces a three year wait for the first LTE networks to go live, under auction proposals announced by Ofcom.
Research firm Informa said large scale LTE deployments in the country won’t make commercial sense until 2015 at the earliest.
In Sweden, Tele2 and Telenor sparked talk of a price war, launching commercial LTE services that undercut rival TeliaSonera’s offering
Twitter’s latest fundraising round valued the company at $3 billion.
A US congressional committee said China Telecom had briefly diverted a massive slice of global web traffic in April. The Chinese operator denied it.
Dell dumped the head of its devices unit, Ron Garriques.
Global bandwidth prices fell 60% in the past year, but capacity is still at least three times more expensive across the Pacific than the Atlantic.
SMS was the most effective method of mobile advertising in Western Europe in 3Q, while online advertising revenues in the US returned to growth.
Facebook unleashed Messages aimed at Gmail and other webmail services.
The GSMA came up with a metric for network energy efficiency.
US operators announced a nationwide mobile payment network.
The BBC pledged to fight plans to abolish net neutrality in the UK, after communications minister Ed Vaizey called for the move.
Business smartphone buyers ranked network operator as the least important purchase factor.
Cisco chief John Chambers apologized to investors for the weak sales outlook.
Steve Ballmer ruled out a Microsoft break-up.
And a Chinese woman will spend a year in a labor camp for sending a mocking five-word tweet.