Feeds

Nippon Iridium halts new subscriptions

Ashes to ashes, dust to dust...

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

Nippon Iridium (NI) began ringing the death knell for its ailing parent yesterday, when it announced it will no longer accept new subscriptions to the global cellphone-by-satellite service and will soon begin buying back handsets from existing subscribers. The action itself was no great surprise. NI's majority shareholder, Japanese telco DDI, said last month it had ceased to fund Iridium and would close down the joint venture. Alongside Iridium and DDI, NI's other key shareholder is handset manufacturer Kyocera. However, according to the Nikkei newswire's coverage of the closure, the reason for this latest move is that Iridium "has an insufficient financial base to run the satellite phone and paging business". "The service is highly likely to be affected after March 18, possibly going out of service," it adds. Earlier this week, Iridium announced it had won $3 million extra funding from its lenders, which would tide it over until 11 March, but if it couldn't find a buyer by then, it would have to consider liquidation. The news from Japan suggests that that point has already been reached. ® Related Stories Craig McCaw cuts losses and abandons Iridium McCaw to buy Iridium assets in 11th Hour change of plan Iridium to receive $75m from Teledesic's McCaw

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.