Finnish mobile game start-up Next Games plans listing
HELSINKI Finnish mobile game startup Next Games is planning to list its shares on the Helsinki bourse, it said on Monday.
Sprint Nextel chief Daniel Hesse said he would take a cut in pay this year, after coming under fire from some shareholders disappointed with the hit the company's results took from subsidizing Apple's popular iPhones.
Hesse said his 2012 salary would be cut to repay about $346,000 in incentive pay that he has already received and forfeit additional amounts that he was eligible to receive under his 2011 and 2012 incentive plans.
"These voluntary actions regarding my personal compensation, which total $3,250,830, will eliminate any benefit for me to the discretionary adjustment the compensation committee made earlier this year," Hesse said in a letter to the company's human resources department.
The CEO said his actions would set his 2012 incentive compensation target opportunities back to 2010 levels.
Sprint's massive $15 billion bet on selling Apple's iPhones has not gone too well with investors, disappointed that the high subsidies on the device had pushed up costs at the No. 3 U.S. operator, even as it added more subscribers.
Sprint, which started taking iPhone orders on October 7, pays Apple a subsidy that is 40 percent higher, or $200 more per device, than what it pays for other phones.
(Reporting by Siddharth Cavale in Bangalore; Editing by Bernard Orr)
BARCELONA Phonemakers are piling in to fill a gap in the market left by Samsung , still licking its wounds from a costly recall of its flagship Note 7 and with no key device of its own to launch at the telecom industry's biggest annual fair.
TOKYO/HONG KONG Japan's SoftBank Group Corp is close to making an investment in U.S. office-sharing startup WeWork expected to be worth over $3 billion, CNBC reported on Monday, as it expands its reach beyond tech and telecoms.