Federal Communications Commission Proposal of Free WiFi for the Public a Potential Obstacle for the Wireless Industry
(Marketwire Via Acquire Media NewsEdge) NEW YORK, NY -- (Marketwire) -- 02/08/13 --
A recently proposal from the Federal Communications Commission to provide the U.S. public free access to WiFi could become a major obstacle for the $178 billion wireless industry. "For a casual user of the Web, perhaps this could replace carrier service," said Medley Global Advisors analyst, Jeffrey Silva. "Because it is more plentiful and there is no price tag, it could have a real appeal to some people." Five Star Equities examines the outlook for companies in the Telecom Industry and provides equity research on Sprint Nextel Corporation (NYSE: S) and Leap Wireless International, Inc. (NASDAQ: LEAP).
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The Washington Post has recently reported that the FCC has proposed the idea of creating super WiFi networks around the U.S., which would allow the public to make cellphone calls or surf the Internet free of charge. The FCC's plan has been in discussion for years but gained traction after endorsements from Google and Microsoft. The companies believe that easy access to free public WiFi would spur "millions of devices that will compose the coming Internet of things". If approved, it would still take several years before the FCC's proposal would be in full effect.
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Sprint Nextel served nearly 56 million customers at the end of the third quarter of 2012 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the U.S. The company recently reported their net loss grew to $1.32 billion in the fourth quarter of 2012, compared to a loss of $767 million a year prior.
Leap maintains an industry leading cost structure enabling it to provide wireless services to its customers at a significantly lower cost than many of its competitors. Leap keeps costs low by engineering high-quality, efficient networks covering only the urban and suburban areas where its potential customers live. The company is scheduled to release fourth quarter results on Wednesday, February 20th.
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