Telecoms joint venture LG-Nortel this week partnered with Taiwanese kit vendor Accton to form another joint venture targeting the North American market.
Mike Zafirovski, the president and CEO of Nortel Networks has announced his resignation from the once mighty firm, effective immediately.
The Informer keeps seeing these financial crisis-induced marketing emails that say things like: “Now is the perfect time to innovate!” or “Now is the perfect time to implement this cost management solution!”. But it strikes the Informer that what now is really the perfect time for is to be a Chinese equipment vendor. While all the other vendors are loosening their collars and tightening their belts, and shedding staff like a dog sheds hair (unless it’s a Portuguese Water Dog, of course), the Chinese vendors are having a right old knees-up.
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Troubled Canadian kit vendor Nortel, presently sheltering in Chapter 11, was on Tuesday awarded a further extension, giving it longer to come up with a plan to ease its predicament.