1. Google will not be a bidder in the Federal Communications Commission’s upcoming 600 MHz spectrum auction. The deadline to file applications to bid was last Wednesday, and late last week a Google spokesperson said the company will be watching the auction closely, but will not be bidding. The “reverse auction” proceedings are set to begin March 29, with the “forward auction” process then set to include the likes of Verizon Communications, AT&T and T-Mobile US bidding for whatever spectrum television broadcasters sell to the federal government.
2. SoftBank may sell assets to fund a stock buyback, the company said today. The company’s two biggest assets are its majority stake in Sprint and its stake in China’s Alibaba. The value of both those assets has been sliding, contributing to a steep drop in SoftBank’s stock price. Now the Japanese company wants to buy back up to 14.2% of its stock, for a total of up to $4.4 billion. SoftBank has enough cash on hand to fund the buyback, even without asset sales.
SoftBank is widely believed to be the financial force behind Sprint’s somewhat secretive network upgrade, but this year the Japanese company has clearly been focused on other investments as well. About a month ago SoftBank said it would invest billions in India.
Investors welcomed the news that SoftBank is ready to support its own stock price with a buyback. SoftBank shares rose roughly 9% on the news.
3. Apple’s on-again, off-again relationship with Samsung may be souring. According to The Electronic Times, Taiwan Semiconductor Manufacturing Company will make all the processors for the next-generation iPhones. Samsung and TSMC both made chips for the iPhone 6s and 6s Plus.
In addition to designing smartphones and processors, Samsung has foundries that manufacture chips. Apple has used these manufacturing facilities to make chips for a number of the iPhone models, but it turned to TMSC for the iPhone 6 and 6 Plus, then brought Samsung back on board for the 6s and 6s Plus.
4. Verizon Ventures is the lead in a $22 million Series B financing for “Internet of Things” startup Veniam. Veniam is trying to create citywide mesh networks of connected vehicles, using mobile Wi-Fi hot spots with cellular backup. The company says it has created the world’s largest network of connected vehicles in Porto, Portugal, with 300,000 individual Wi-Fi users.
Veniam’s hot spots are installed on public buses, taxis and other fleet vehicles and receive wireless signals from stationary existing Wi-Fi access points and from one another. They use fiber and cable networks for backhaul. When Wi-Fi is not available, the connection moves to the cellular network.
Veniam said in addition to connectivity for mobile devices, its solution can be used for real-time monitoring and control of mobile assets in industrial spaces. Cisco, Orange Digital Ventures and Yamaha Motor Ventures joined Verizon Ventures in the company’s latest financing.
5. LG has reportedly postponed the planned launch of its mobile payment service, LG Pay. The launch was expected at next week’s Mobile World Congress. LG Pay would be entering a crowded field currently dominated by Apple Pay, Samsung Pay and several retailer-backed mobile payment platforms.
Follow me on Twitter.
