ALLENTOWN, Pa.-Agere Systems Inc. posted a $3.4 billion net loss for the fourth quarter ended Sept. 30.The company, which is still owned 58 percent by Lucent Technologies Inc., said revenue plummeted by 60 percent to $600 million as against $1.5 billion in the same...
ALLENTOWN, Pa.-In an amendment agreement with its bank group, Agere Systems said it has paid $1 billion of its $2.5 billion debt it assumed from parent company Lucent Technologies Inc. The maturity date of its $1.5 billion balance has been extended from Feb. 21,...
MURRAY HILL, N.J.—Lucent Technologies Inc. said its bank group has given it the go-ahead to renegotiate its $4 billion loan by recording the business restructuring and other charges.The green light also allows the company to change the conditions to spin off its semiconductor unit,...
As a counterfoil to a slackening economy, chip makers are striking up alliances, shrinking their product sizes and paring down prices to differentiate themselves in the face of layoffs, reduced spending and plant shutdowns.Some of the alliances are between NEC Corp. and Taiwanese Semiconductor...
ALLENTOWN, Pa.-Agere Systems says NEC Corp. will begin using its chips for two Internet-enabled GSM cellular phones by the end of this year."GPRS, a 2.5-generation wireless technology and a bridge to third-generation wireless technology, offers data transmission speeds that are approximately five times faster...
Each time the death knell sounds, Lucent Technologies Inc. seems to rebound.Last week was a metaphor of what might be the roller coaster ride the Murray Hill-based telecom equipment company has experienced in the past three quarters.Moody's Investors Service downgraded the company to junk...
The economy cast a pall over the vendor space last week with major equipment makers wallowing in job cuts, negative credit ratings, earnings forecast reviews and downgrades.The companies involved are the struggling Lucent Technologies Inc., Nortel Networks Corp. and the almost immune Nokia Corp.Lucent...
In a triangular deal, German-based operator T-Mobil is partnering with Agere Systems to adopt Samsung's General Packet Radio Service class 8-cell phone.The phone, which will be made available commercially during this quarter, uses Agere's semiconductor chips and software.The Samsung GPRS wireless handsets equipped with...
Intel Corp. may be one of the newer chip players in the wireless space, but it already is attracting a green eye from the older mainstays.Advanced Micro Devices Inc. and others have seen how Intel Corp. has dominated the mobile computer market with its...
MURRAY HILL, N.J.-Lucent Technologies Inc. announced the replacement of its chief financial officer Deborah Hopkins with Frank D'Amelio, its former president of its switching solutions group.Under Hopkins' watch, the company posted losses, a deep dive in its stock profile and job layoffs. It also...
Lucent Technologies Inc. posted a loss, while both Qualcomm Inc. and Samsung Electronics Co. recorded profits in their quarterly reports last week.In spite of Lucent's loss, the company rebounded in modest market confidence as its liquidity problems were replaced by a sense that the...
Sony of Japan is holding talks with Sweden's L.M. Ericsson on merging their handset divisions, hinting at what some analysts perceive as a possible trend in the industry.Both companies recoiled from revealing details on the talks, a deal from which would promise to leverage...
Agere Systems Inc., Allentown, Pa., the communications semiconductor unit of Lucent Technologies Inc., made it to market with an initial public offering priced at $6 that began trading on the New York Stock Exchange March 28.Agere had amended its IPO registration March 21 by...
HONG KONG-Agere Systems, formerly the Microelectronics Group of Lucent Technologies Inc., established new regional headquarters in Hong Kong to support operations in the Asia-Pacific region.According to the company, Agere relocated its Asia-Pacific regional headquarters to Hong Kong from Tokyo so it could enhance services...
DATELINE-Lucent Technologies got a shot in the arm last week with $6.5 billion in credit facilities.The company said it obtained $4.5 billion of 364-day credit facilities arranged by J.P. Morgan and Salomon Smith Barney.A portion of the loan, said Lucent, expired Feb.22 while Agere...
CANNES, France-GVC Corp. signed a deal for Agere Systems to supply its GPRS Class 8 cell phone chipset and software platform solution for wireless handsets."We chose Agere Systems' Class 8 solution because it can enable much faster Internet data rates on wireless handsets than...
