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Thursday, August 5, 2010

Financial Times
San Diego-based Leap Wireless, which markets its prepaid service as Cricket Wireless, posted a net loss of USD19.3 million, compared with a year-earlier loss of USD61.2 million. Revenue rose six percent to USD633.5 million. The company, however, experienced a net decline of 111,718 customers, as the turnover rate increased to five percent from 4.4 percent a year ago. WSJ writes that Leap has added two higher-tier plans to its smartphone accounts and folded in taxes and fees, bringing it in line other prepaid-service providers. The company also signed a reseller agreement with Sprint Nextel to sell Cricket outside of its territory. The migration of consumers to services offered by Cricket, Sprint Nextel's Boost and MetroPCS Communications has made the prepaid segment the fastest-growing area in the US mobile market.

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