Japan's IP Mobile files for bankruptcy

It should come as no surprise: Japan's IP Mobile has filed for bankruptcy as its Nov. 9 deadline for launching services looms. The carrier recently lost one of its investors, NextWave, which only supported the company for a few short months. IP Mobile could not raise enough funds to offer services before its deadline, which means the carrier must return its mobile license to Japan's regulatory body. Recent attempts to raise funding from a Hong Kong telecommunications company fell through, according to reports. NextWave's departure this summer raised eyebrows about the likelihood of IP Mobile's success. NextWave's exit was reminiscent of Vodafone's exit from the Japanese mobile market following its sale of Vodafone K.K. to Softbank.

For more on the IP Mobile bankruptcy filing:
- read this article from Jijii Press