Virgin Mobile: okay, yeah, we're talking to SK Telecom
[Via mocoNews]
Virgin Mobile's warnings of a bleak quarter were pretty dead-on, with a mere 17,772 net adds coming on board during the three-month time frame ending March 31 -- not quite the blockbuster 309,721 reported in the same period a year ago. Similarly, revenue and income both took a dive, supposedly in part due to a big marketing push focused on the MVNO's new pricing plans. If there's a silver lining on the dark, rumbling cloud, though, it's that the CEO believes they'll start to see some positive growth again in the third quarter after a weak second (for his sake, we hope he's right). Also notable was a mention that although the company had no strategic partnerships, alliances, or investments to announce, it was definitely open to "non-organic growth" in the form of another MVNO or "capability." Wonder what he may have been talking about there?
This could -- at least temporarily -- put an end the nightmarish scenario involving you, lack of sleep, and some freakish chatty Cathy plopped next to you by the airline. Lead co-sponsor Rep. Peter DeFazio, hopes the "Hang Up" -- madly clever name here -- bill will stop Airlines from finding yet another avenue to gouge you and maintaining peace and harmony by banning any in-flight calling. Of course, the door will remain wide open for SMS, mail, IM, and other types of electronic conversation, but we're hoping Skype and friends are on the muzzle list, too.
Hot on the heels of dismal news from the Helio camp comes word that frowns are all the rage over at Virgin Mobile, too. After warning that "current quarter subscriber growth would fall to a range of 5,000 to 20,000" (compared to a net gain of 210,000 in Q4) and expressing concerns that the weakness in the US economy would further harm its chances at having a
A four-pack of carriers is getting sued over the infringement of three 2007 patents that appear to center around the concept of picture caller ID -- but here's the best part, it's actually a different dude from a different company than the one that sued Apple. US Cellular, T-Mobile, Virgin Mobile, and Helio are all named in the suit, suggesting that either the remainder of major US carriers have already licensed the technology, or this so-called Intellect Wireless just has a very bizarre way of choosing its defendants. So here's our question: what picture caller ID technology was patented by some random company in 2007 that these guys could possibly be violating?
Who wants to talk to customer service if they don't have to? Lucky Virgin Mobile customers (and soon-to-be customers) just got a free pass to spend a little less time on the horn with company reps thanks to the MVNO's deployment of Telespree's over-the-air provisioning wizardry. Apparently, the entire process now requires zero human intervention from beginning to end for both new customers and upgrades alike. Kinda ironic that we're buying a phone to talk to others and we no longer have to talk to others, isn't it?
Virgin Mobile's October IPO raked in a solid $412.5 million -- a little bit off its highest estimate, yeah, but still boatloads (and when we say "boatloads," we mean "hundreds of millions of dollars") higher than what it had thought it could get when it first announced its intentions to go public. A new class action suit alleges that the $412.5M figure was inflated, though, by Virgin's fudging of third quarter revenue figures which conveniently have since been revised down to indicate a $7.3M loss. Unfortunate coincidence? Maybe, but Virgin's stock fell a solid 14.4 percent on news of the redone numbers, so we can understand that a few shareholders might be grumbling about the sitch. Meanwhile, the MVNO's form letter reaction to the news is in full effect, claiming that the lawsuit is "completely without merit," so we're guessing this one's gonna be tied up in the legal system for a hot minute or two.
Other Weblogs Inc. Network blogs you might be interested in: