The largest U.S. wireless service provider has been facing stiff competition from companies such as T-Mobile US Inc and Sprint Corp, who have been offering massive discounts on call and data plans. Apple launched the iPhone 6S and 6S Plus in September, triggering heavy promotional activity in the telecoms industry towards the end of the third quarter. Verizon shares rose about 2 percent in premarket trading on Tuesday.
Google will take a minority stake in Beijing-based artificial intelligence firm Mobvoi as part of a $75 million fundraising round, the start-up said on Tuesday, as the U.S. search giant tries to rebuild its presence in China. The size of Google’s investment was not disclosed. Google’s parent company is now named Alphabet Inc (GOOGL.O).
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