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Friday, January 27...

AT&T Posts Huge Loss Due to Merger-Collapse Fees
AT&T reported a $6.68 billion net loss for the fourth quarter of 2011,  primarily due to the break-up fees incurred as a result of its failed acquisition of T-Mobile USA from Deutsch Telekom. The figure represents a loss of $1.12 per share. Excluding the break-up fees, costs associated with a change to how AT&T reports pension costs, and other items, the company earned 42 cents per share. AT&T posted a profit of $1.09 billion, or 18 cents a share, in the same period a year earlier. Revenue for the fourth quarter 2011 was up. The carrier reported consolidated revenues of $32.5 billion, up $1.1 billion, or 3.6 percent, versus the year-earlier period. AT&T added 717,000 post-paid wireless subscribers, the largest increase in five quarters, and a net total of 2.5 million wireless subscribers,  for a total of 103.2 million wireless customers. AT&T also said it beat previous records for smartphone sales during the quarter, selling 7.6 million Apple iPhones and 9.4 million smartphones over all.

Nokia Reports Third Consecutive Quarterly Loss
Mobile phone maker Nokia posted a $1.3.8 billion USD loss (a loss of 1.07 billion euros) for the fourth quarter ended December 31, 2011, its third consecutive quarterly loss. Nokia's said sales slumped 21 percent. Nokia recorded a profit of 745 million euros in the same period a year earlier. Nokia revenue for the quarter fell to 10 billion euros from 12.6 billion euros in the fourth quarter of 2010. The once dominant company is attempting to reverse its fortunes with new smartphones based on Microsoft Windows Phone software. Nokia CEO Stephen Elop said the company sold "well over" 1 million Windows-based phone since the launch of the Lumia line in the fourth quarter. All told, Finland-based Nokia sold 19.6 smartphones in the fourth quarter.

Verizon Expands Private IP Services in Africa, Middle East
Verizon has expanded its global enterprise network platform, enabling multinational corporations to use its Private IP service in six additional African countries, and Bahrain and Qatar in the Middle East. Verizon said its enterprise customers can now add Private IP services to their offices in: Gabon on Africa's western coast; Djibouti and Ethiopia on the Horn of Africa; Malawi and Zimbabwe in Eastern Africa; and Swaziland in the southern region. The expansion brings to 21 the number of African countries where Verizon's Private IP is now available. In the Middle East, services are available in Egypt, Israel, Jordan, Kuwait, Pakistan, Saudi Arabia, Turkey, United Arab Emirates (Abu Dhabi and Dubai), Bahrain, and Qatar.

New York Times: "In China, Human Costs Are Built Into an iPad"
The New York Times has published a detailed report on the unhealthy, dangerous working conditions in Chinese factories used by Apple to manufacture its popular iPad and iPhone devices. That conditions are bad in Apple factories and those used by other US companies manufacturing products in China is not new information, but the story details how pervasive the problem is. It also raises the charge that, according to former Apple executives, "there is an unresolved tension within the company: executives want to improve conditions within factories, but that dedication falters when it conflicts with crucial supplier relationships or the fast delivery of new products."  Earlier this week Apple posted $13.06 billion in profits on $46.3 billion in sales for its most recent quarter.