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  • Leap Extends Product Portfolio

    Leap Wireless International Inc(NasdaqGS: LEAP - News), which provides digital wireless communication services in the U.S, under the “Cricket” brand primarily through its wholly-owned subsidiary Cricket Communications Inc. recently unveiled "Indulge", the first Android-based 3G smartphone from Samsung Telecommunications.

    The new Samsung Indulge is priced at $329.99 (exclusive of tax) along with a $55 Android plan and will be available at Cricket’s stores as well as other company dealers. The new Android plan will offer unlimited talktime, unlimited text as well as picture and video messaging services. The new device will be supported by 1GHz microprocessor coupled with a 3 mega pixel camera and Wi-Fi support. Cricket’s portfolio currently boasts four Android devices including Samsung Indulge.

    Earlier, Leap Wireless introduced its unlimited music download facilities for its 3G wireless subscribers. The new digital music service is called “Muve Music” and is presently offered in all its existing markets through Samsung Suede devices.

    Leap Wireless offers quality service plans to its customers at attractive rates. The company also plans to launch its LTE 4G service in the coming years. Recently, the company upgraded its service by offering the latest smartphones and unlimited music download facility.

    Leap Wireless has also partnered with Sprint Nextel Corp. (NYSE: S - News) and LightSquared in order to provide better services to its clients. Moreover, the company has already tied up with popular music companies in order to offer huge varieties of music to its subscribers.

    Despite such positive traits, we remain cautious about Leap Wireless as it faces intense competition from other carriers like AmericaMovil’s (NYSE: AMX - News) Tracfone and MetroPCS (NYSE: PCS - News), which also offer attractive plans. Furthermore, given the company’s huge debt and poor financial results in the last quarter, we prefer to remain on the sidelines.

    We, thus, maintain our long-term Neutral recommendation for Leap Wireless International Inc. Currently, Leap Wireless International Inc has a Zacks #3 Rank, implying a short-term Hold rating on the stock.

    This article was originally published in forum thread: Leap Extends Product Portfolio started by MCF-News View original post
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