EU regulators clear Nokia's takeover of Navteq (AFP)
2008.07.02 -
Mobile Phones -
Source: RSS.NEWS.YAHOO.COM -
Comments [0]
20 minutes ago
BRUSSELS (AFP) - The European Commission gave the greenlight on Wednesday to Finnish mobile phone giant Nokia's purchase of US digital navigation group Navteq after finding the deal would not hurt competition.
"After an in-depth examination, launched in March 2008, the commission concluded that the transaction would not significantly impede effective competition," Europe's top antitrust watchdog said in a statement.
Nokia announced plans in October to buy Navteq, which makes digital maps for cars, mobile devices and the Internet, for 8.1 billion dollars (5.1 billion euros).
The Chicago-based group offers digital maps for 69 countries on six continents that can be read by most navigation systems available in North America and Europe.
Nokia said that EU regulator's approval opened the way for the deal to close "within the next five business days"
"Navteq will play a key role in our Internet service strategy," Nokia chief Olli-Pekka Kallasvuo said a statement.
Judson Green, who heads up Navteq, also hailed the regulatory go-ahead for the deal.
"We believe Navteq will be better positioned to serve all our customers under Nokia ownership," he said in the Nokia statement.
Source
TechWeb - Sharp said on Tuesday it has developed advanced LCD panels that would offer sharper moving images on portable devices such as mobile phones, pitting it against organic light-emitting diode (OLED) displays.
AFP - Nokia strengthened its position as the world's leading maker of mobile phones in the first quarter by upping its market share to 36 percent, though net profit slid seven percent, the group said on Thursday.
USATODAY.com - NEW YORK - Many of the 230 million cellphones being used in the USA today are equipped to handle text messages, take photos and access websites. But when it comes to marketing, phone companies haven't moved far beyond AT&T's famous pitch, "Reach out and touch someone."
Investor's Business Daily - Handset makers are racing to develop better mobile phone screens to meet expected demand for watching TV on the devices. In Japan, where TV on phones already is becoming commonplace, Sharp announced a fall release of phones featuring 2.2-inch screens that offer contrasts of 2,000:1, about 4 times greater than current top screens. The new phones also will be capable of receiving digital TV broadcasts, significantly expanding their capabilities since most phones are only able to show video downloaded from the Internet.
Reuters - Sharp Corp. (6753.T) said on Tuesday it has developed advanced LCD panels that would offer sharper moving images on portable devices such as mobile phones, pitting it against organic light-emitting diode (OLED) displays.
