T-Mobile USA, the struggling No. 4 cellphone company, is ditching plans centered on familiar two-year contracts in favor of selling phones on installment plans. In practice, the phone-buying experience is not that much different from before. For instance, someone who wants a Samsung Galaxy S III would pay $70 upfront and then $90 per month for unlimited calling, text and data. That monthly fee includes $20 to pay off the cost of the phone over two years.
But by separating the cost of the phone from the service, T-Mobile is making its plans and upgrade options easier to understand. When the phone is paid off, the $20 fee in that example disappears.
HTC launching new smartphone
HTC Ciorp. said it intends to roll out its new HTC One smartphone this week in the U.S. Germany and Taiwan after the Taiwanese company delayed the launch earlier this month partly because of a shortage of several key components. The phone is widely regarded as the company’s latest attempt to regain market share in the competitive smartphone market.
SEC approves Facebook reimbursement
The Securities and Exchange Commission said Monday that it has approved a plan by the Nasdaq stock exchange to pay $62 million in reimbursements to investment firms that lost money because of technical problems during Facebook's initial public offering last year. The Nasdaq had said in June that it would pay $40 million but later increased the amount to $62 million. Facebook went public May 18 amid great fanfare, but computer glitches at the Nasdaq delayed the start of trading and threw the debut into chaos. Technical problems kept many investors from buying shares that morning, selling them later in the day or even from knowing whether their orders went through. Some said they were left holding shares they didn't want.
Drug compounding product recalled
A Massachusetts pharmacy has issued a voluntary recall of some sterile compounding products. Pallimed Solutions Inc., of Woburn, said Monday the recall was a precautionary measure and there were no reports of any illnesses. It says it issued the recall after a recent unannounced inspection by state and federal regulators. The company says the recalled products were prepared for fewer than 800 patients and the recall doesn't involve any other product.
Glucose meter warning
Johnson & Johnson has announced a voluntary recall for all its OneTouch VerioIQ blood glucose meters in the U.S. because they do not provide a warning when a diabetic's blood sugar level is dangerously high. Instead, the meters turn off. The meters are made by J&J's LifeScan unit, which will issue a free replacement meter to all patients. The company says the meters shut down when a patient's blood sugar hits 1,024 milligrams per deciliter. That's an extremely high level requiring immediate medical attention. Johnson & Johnson, based in New Brunswick, N.J., said patients with one of the meters should contact LifeScan's customer service at 800-717-0276 to arrange for a replacement meter or ask questions.
The Star’s news services