Coolpad, China Mobile to promote 5G terminal industry
New Delhi, July 3 : Chinese smartphone maker and integrated wireless data solutions provider Coolpad on Tuesday announced it has signed an MoU with Chinese state-owned telecommunication corporation China Mobile to produce 5G products and promote the innovation of the 5G terminal industry.
As one of the 13 global terminal vendors for 5G, Coolpad has signed the "5G terminal forerunner plan" with China Mobile.
The Memorandum of Understanding (MoU) was signed by China Mobile Terminal Co. and China Mobile Research Institute (on behalf of China Mobile) and other 28 partners signed the cooperative memorandum (MOU) in the presence of Li Huidi, Senior VP-China Mobile Group, Xu Yibo, Deputy Vice President of Coolpad Group and other senior leaders from the industry at the recently concluded World Mobile Conference Global Terminal Summit in Shanghai.
"Coolpad has pledged full cooperation with other parties of the '5G terminal forerunner plan' in technical project research, application scene exploration, product form innovation and demonstration application promotion together to establish the mature 5G terminal industry ecology," the company said in a statement.
Notably, the MoU defines the responsibilities of all parties, including the 5G terminal product form and the key time for the development of chips, terminals, components and instruments.
"As one of the mainstream terminal vendors, Coolpad has built a team and started to study the 5G's standard since 2012. It spent 10 per cent of its annual sales on standard and innovation research in 5G," the company added.
Coolpad has submitted over 800 patent applications in the field of 5G technology and gained over 300 authorised invention patents.
The handset maker has also obtained more than 120 authorised invention patents about D2D (Device To Device), which is one of important technology in 5G infrastructures.
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Binny Bansal steps down from board of PhonePe
New Delhi, Nov 22: Flipkart's co-founder Binny Bansal has stepped down from the board of PhonePe, the fintech company said on Friday.
PhonePe also announced the appointment of Manish Sabharwal as an Independent Director and Chair of its Audit Committee.
In this role, Sabharwal will be instrumental in upholding the integrity and effectiveness of PhonePe's financial reporting, internal controls, and risk management practices, he company said in a release.
"PhonePe also announced that Flipkart's co-founder, Binny Bansal has stepped down from its Board of Directors. Binny acquired PhonePe in 2016 and has been on its Board since then," the release said.
Commenting on the board rejig, Sameer Nigam, CEO and Founder of PhonePe said, "I would like to express my heartfelt gratitude to Binny Bansal for being one of PhonePe's earliest and staunchest supporters. His active engagement, strategic guidance, and personal mentorship have profoundly enriched our discussions. Binny will be missed!"
Nigam further said that Sabharwal's depth of understanding of India's macro economy, coupled with his leadership in shaping India's policies for education, employment, and employability will be invaluable as PhonePe continues to work ahead towards shared vision of a Viksit Bharat by 2047.
Sabharwal is Vice-Chairman of Teamlease Services, India's largest staffing and human capital firm.
Bansal played an instrumental role in Flipkart's acquisition of PhonePe way back in 2016 and had been on its board since then (the payments firm separated from Flipkart in 2022).
