Nortel has said it will remain fully behind the 2012 London
Olympics, after filing for
bankruptcy protection yesterday.
In a statement issued today, Mario DiMascio, Nortel's
vice-president forenterprise business, northern region, said, "Let
me take this opportunity to reassure you that our commitment to the
Games as a Tier 1 local sponsor and official network infrastructure
provider remains unchanged as does our commitment to all our
customers. The solutions we are providing for the London 2012
Olympic Games are among the most demanding communications
environments in the world."
One industry commentator on the
Seeking
Alpha website said, "A technological revolution contributed to
Nortel's downfall. Nortel is worth less than 1/1000 of its market
cap in 1999. Around that time, IP-based telephone systems began to
emerge. IP-telephony spelled the end of legacy TDM PBX types."