5 things to know for Thursday, Sept. 17
1. Verizon Communications CEO Lowell McAdam told investors that the changing wireless business model is likely to impact earnings. The carrier recently launched new data plans that offer “buckets” of data, and later had to clarify its new pricing for confused consumers. McAdam also cited the company’s recent sale of wireline assets to Frontier Communications as a reason Verizon’s 2016 earnings might be lower than expected. Shares of Verizon were down more than 3% this morning.
2. Cablevision agreed to be acquired by French cable giant Altice for $17.7 billion. The deal follows Altice’s agreement to buy Suddenlink Communications for $9.1 billion earlier this year. Altice CEO Patrick Drahi is a telecom engineer by training and the company has been buying telecom and wireless properties in Europe.
3. Apple launched an Android application to help people move their content to the iPhone. Users can access the app in the Google Play store. The app will copy photos, messages, contacts, calendars, etc., and make them available in iOS. During its most recent earnings call, Apple reported a record number of new iPhone users had switched from Android.
4. Amazon.com launched four new tablets: the Fire, the Fire HD8, the Fire HD10 and the Fire Kids Edition. Screen sizes range from 7 inches to 10.1 inches and prices range from $50 to $230. The 7-inch $50 Amazon Fire is being offered in six packs. Amazon recently stopped selling its Fire smartphone, but remains committed the tablet market.
5. Ericsson continues to push forward with “5G” research. The company announced a cross-industry 5G research and development program designed to bring together major industrial players, the public sector and leading universities across Europe to strengthen the continent’s competitiveness. This summer Ericsson showed RCRtv its first 5G demonstration system in North America.
