China on Tuesday denied suggestions it could be involved in a cyber-espionage ring that attacked computers worldwide from servers mostly based in the country. GhostNet, a network that affected 1,295 computers in more than 100 countries through malware and social engineering, was described in a study last weekend.

Hutchison Whampoa has reported a 42% fall in net profit but sounded an upbeat note as losses narrowed at its 3G mobile phone operations. The Hong Kong-based oil-to-telecoms firm said annual profits totalled HK$17.7bn (US$2.28 billion), compared with HK$30.6bn in 2007.

Chinese telecommunications-equipment maker Huawei Technologies has won a contract to supply the network infrastructure for a cellphone service that cable-TV provider Cox Communications plans to launch in some markets later this year, people familiar with the matter say.

When Toshiba's fuel cell-powered phone was announced last October of 2008, the purported release date was March of this year. Unfortunately, the month is coming to a close, but we are yet to see any telltale signs of the phone's release whatsoever. But even if the phone in question is nowhere in sight, Toshiba is commencing the mass production of its fuel cell products.

Sony Ericsson has announced that Najmi Jarwala, President of Sony Ericsson USA and Head of Region North America (comprising the US and Canada markets), has chosen to leave the company at the end of March to pursue other career opportunities.

Infineon Technologies AG HAS announced that it has signed a letter of intent for framework purchase agreement amounting US$68 million with Huawei Technologies of China. Infineon will provide semiconductor solutions for Huawei in the area of central office solutions (CO), customer premise equipment (CPE) and mobile phone platforms.

China Mobile missed forecasts with its slowest quarterly profit growth since 2005 and warned a deepening financial crisis will pressure subscriber growth as local competition gets tougher.

The world economy is set to shrink by between 0.5% and 1.0% in 2009, the first global contraction in 60 years. In its gloomiest forecast yet, the International Monetary Fund (IMF) says that developed countries will suffer a "deep recession".

Palm missed analysts' revenue estimate in its third-quarter results Thursday and saw its losses widen as demand slumped for the company's smartphones. The company explained that smartphones brought in just $77.5 million during the third quarter, down 72% from the same period last year.

The next-gen mobile OS for Apple's mobile communications devices will bring Bluetooth connectivity, turn-by-turn GPS navigation, and greater integration with external peripherals, as well as cut and paste, improved sync, and support for MMS messages.

Nokia, the world's largest mobile phone maker, has announced plans to shed 1,700 jobs worldwide as part of a major cost-cutting drive.