Thursday, 2 July 2015
Last updated 16 hours ago
Jun 13 2011 | 12:17pm ET
Despite its growing difficulties, Harbinger Capital Management's wireless venture will complete its 4G network within four years, its CEO said Friday.
Sanjiv Ahuja told Bloomberg Television that LightSquared would serve 260 mobile devices by the end of 2014, employing some 40,000 terrestrial towers to offer its services over satellite airwaves. That would be 12 to 18 months ahead of the schedule mandated by the Federal Communications Commission, which has granted LightSquared a crucial waiver.
Ahuja's comments come as criticism of LightSquared grows louder, with new tests showing that its network adversely affects global positioning systems. The CEO said that "wonderful engineers in this country will be able to figure out a way so that GPS community, GPS devices, live within the spectrum that has been allocated to us, while we can build our products and provide service to our customers within the spectrum that has been allocated to us."
Ahuja also confirmed that LightSquared is in talks with Sprint Nextel, but that no agreement has been reached.
"We are also working in a deeper relationship with some of the operators," he said.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…