Sprint Nextel Corp. (NYSE: S) is giving up on a technology that allows some Sprint-branded phones to use a "push-to-talk" walkie-talkie service similar to what's available on the company's Nextel-branded phones, according to Associated Press.
Scott Sloat, a spokesman for the nation's third-largest wireless provider, said Sprint will still support customers who have phones with the technology, known as QChat, but will no longer introduce new phones with the feature.
Penny Stock Professor, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Penny Stock Picks.
Sprint introduced QChat last year as a potential replacement for the push-to-talk service on its Nextel-branded iDEN network, which is a mainstay among dispatchers, contractors and other business users. Some analysts were pushing Sprint to jettison iDEN, which Sprint acquired with Nextel in 2005 but has been losing thousands of subscribers every quarter.
Since then, Sprint says the iDEN network's technical performance has improved and the company has used it for subscribers on the Boost Mobile brand.
Sloat wouldn't say how many QChat customers Sprint has, but he said iDEN customers account for the bulk of the company's push-to-talk users.
Follow us on Twitter: http://www.twitter.com/pennystockspro
Sign up for the free Penny Stock Professor newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Us
Penny Stock Professor is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
