Why Are These Telecoms Getting Slammed?
Verizon Wireless (NYSE:VZ) is down a little less than one percent to be trading at $41.04 early on Wednesday. The company is pegging its release of a new app as one of its most important product launches of the year. Verizon has launched a new Google (NASDAQ:GOOG) Android app that makes it easier to find videos for a particular title, actor, or keyword across services such as Netflix (NASDAQ:NFLX), Hulu (NASDAQ:CMCSA) Plus, Comcast Xfinity, and mSpot. The app, dubbed Viewdini, will try to project better video watching as one of the key areas of difference on the LTE data network. The app, which will include additional information about the movies and TV shows, will be limited to Verizon Wireless customers when it launches later this month. Verizon is hoping to add support for other operating systems, including, Apple’s (NASDAQ:AAPL) iOS, eventually.
AT&T (NYSE:T) was sullen on Wednesday morning after dropping a little over 1 percent to be at $33.20. The carrier is launching a prepaid Google Android smartphone along with Samsung next month. The Galaxy Appeal will be available at Walmart (NYSE:WMT) stores starting June 5 and at other AT&T GoPhone distribution channels beginning July 15. The Galaxy Appeal features a slider QWERTY keyboard as well as a 3.2-inch touchscreen. While the phone costs a shade under $150 for no contract, it has fairly low-priced prepaid service plans, starting with 50MB data for $5. The device only connects to the 3G network.
Sprint (NYSE:S) is also dropping, and is down 0.41 percent to be trading at $2.40. However, in some good news for the company, Sprint is finally ready to start shipping the EVO 4G LTE smartphone after an HTC dispute with Apple that had delayed shipments at U.S. Customs was resolved. The phone was earlier slated to be launched on May 18. Sprint announced via a forum post that it expects to begin shipping the device to customers with pre-orders by May 24. The International Trade Commission had passed an exclusion order last year when HTC was accused of violating 10 Apple patents. The order went into effect on April 19, and Customs officials were instructed to verify changes to the phone before allowing for a release into the market.