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Filed under: Virgin Mobile , MVNOs , Misc Virgin Mobile USA was one of the few outfits out there who managed to post a Q3 net profit , but even that couldn't help it avoid the unfortunate delivery of a non-compliance letter from the New York Stock Exchange. Just a few days before it slashed ten percent of its workforce, the company was notified by the NYSE that it was "not in compliance with certain listing criteria." More specifically, it's considered "below the applicable standards because the average market capitalization of its Class A common stock and substantial equivalents, over a period of 30 trading days, is less than $100 million." Now, it has 45 days to respond with a business plan that demonstrates its ability to get back into compliance within 18 months. Virgin Mobile USA has already texted (at least that's what we heard) the bigwigs on Wall Street with a confirmation that it would be working to get back on track, but even the best intentions fall through sometimes. Godspeed, VM. [Via mocoNews ] Virgin Mobile USA falls into non-compliance on NYSE, plans to get back on track originally appeared on Engadget Mobile on Thu, 20 Nov 2008 13:18:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Filed under: Sprint , Studies , Misc We've been hearing about a possible SK Telecom-Sprint tie-up since July of 2007 , but if either firm ever hoped to actually tie the proverbial knot -- well, let's just say that ship has sailed. Given the weakening economy and the general tendency to resist taking risks right about now, the Korean giant has dropped its plans to partner with Sprint in any form or fashion. In related news, Sprint is looking to hop on the quickly expanding layoff bandwagon, but given its humongous Q3 loss , we suppose that's not totally illogical. We're told that the carrier is offering "voluntary buyout packages" to an unspecified number of employees, which is far more awesome than the "thanks, now get the hell out of here" line that's being handed down by so many other firms. Crazy times, we tell you. [Via Boy Genius Report ] SK Telecom no longer casting glances in Sprint's direction originally appeared on Engadget Mobile on Sun, 16 Nov 2008 09:41:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Filed under: ATT , GSM , Misc For those who stick to one coast or the other, you may have never even heard of Centennial Communications. Not to worry, though, as AT&T just made said company entirely more relevant. Shortly before heading out of the office on Friday, AT&T decided it fitting to acquire Centennial for a few bucks shy of a billion, or $944 million for those seeking precision. The transaction will beef up AT&T's coverage for customers in rural areas of the Midwest and Southeast United States, not to mention in Puerto Rico and the US Virgin Islands. As always, the acquisition must first pass regulatory approval, the approval of Centennial's stockholders and "other customary closing conditions" before the little guy's 1.1 million subscribers officially make the shift, but we certainly don't expect that to be an issue. [Via The New York Times , thanks to everyone who sent this in] AT&T picks up Centennial Communications for $944 million originally appeared on Engadget Mobile on Sat, 08 Nov 2008 05:31:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Filed under: Sprint , Misc Sprint's year just keeps getting worse . After losing over 900,000 customers last quarter while posting a $344 million loss, the company insistent on advertising with faux soap operas and in black and white (and yellow) is hanging its head once more. During Q3, the carrier saw 1.3 million net subscribers head for the exits, and it also reported a loss of $326 million. According to CEO Dan Hesse, Sprint "has yet to turn the corner," warning that the process of turning things around would be gradual. Moving forward, the company expects gross additions to "stabilize," while the turnover rate is apt to remain at around 2.15%. In related news, the provider's stock price has sunk around 60% in the past six months, and while that's surely bad news to shareholders, not many other mega-corps out there are doing tremendously better. [Via The New York Times ] Sprint posts Q3 net loss of $326 million, sees 1.3 million subs leave originally appeared on Engadget Mobile on Fri, 07 Nov 2008 10:45:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

Filed under: Handsets , LG , Motorola , Nokia , Samsung , Sony Ericsson , Studies Nokia's market share may have slipped ever-so-slightly after a rough Q3, but that's not to say the current champ has been knocked from its throne -- far from it, actually. According to fresh numbers compiled by research firm IDC, Nokia's global market share after Q3 was 39.4%, while Samsung notched the silver with 17.3% and Sony Ericsson the bronze with 8.6%. Trailing the top trio was Motorola and LG with 8.5% and 7.7%, respectively. Each of the five still saw net gains when compared to Q3 2007 save for SE and Moto, which saw their market share slip 0.8% and 31.7%, respectively. Man, a 31.7% slide in twelve months -- is something wrong at Motorola's handset division, or have we just been living under a gigantic boulder for the last calender year? Nokia still atop global market share chart after Q3 2008 originally appeared on Engadget Mobile on Mon, 03 Nov 2008 07:40:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

The Korea Times is reporting that LG is changing its strategy in Mobile, to aim for lower-end handsets - i.e. those in the $100-150 region. This will allow LG to expand in markets where its hold maybe isn’t so strong - but also to try and roll with the punches of the economic downturn better - [...]