In Brief: HMD Global to deploy part of $230 mn fund on Indian ops; SoftBank net income hits $11.8 bn

In Brief: HMD Global to deploy part of $230 mn fund on Indian ops; SoftBank net income hits $11.8 bn
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12 Aug, 2020

Espoo, Finland headquartered mobile phone company HMD Global, which makes Nokia-branded phones, plans to expand its presence in the India market. According to a report by the Economic Times, the company is expected to deploy a part of the recently closed $230 million in India. Nokia Technologies, Google, and Qualcomm are among key investors in the fund. 

Read: Backed by Nokia, Airtel deploys India’s largest open cloud-based VoLTE network

SoftBank net income hits $11.8 bn

Japanese technology conglomerate SoftBank Group on Tuesday announced that it has returned to profit as the net income hit 1.26 trillion yen ($11.8 billion) for the three months ended June 30 compared with a loss of 1.44 trillion yen three months earlier, The Economic Times reports. SoftBank’s Vision Funds’ income stood at 129.6 billion yen, compared to a 1.13 trillion yen loss in the previous quarter, the report said. 

Read: SoftBank offloads $41 billion in assets; looks at $18 billion stock buyback

Infinity Labs rolls out Infinxt Secure SD-WAN

Technology and network solutions provider Infinity Labs on Wednesday said that it has unveiled Infinxt Secure SD-WAN, a software-defined wide area network solution with an inbuilt next-gen firewall (NGFW), fueled by cybersecurity firm Palo Alto Networks. The solution, which is made for small, medium, and large enterprises across India, will help enterprises in optimising existing network connections between distributed sites across geographies and attain enterprise-class network performance, stability, and security for critical applications, a statement said.