Cincinnati Bell, the small regional telecom company, became the first U.S. carrier to sell the much-hyped Nokia 5800 touchscreen smartphone. The phone had previously only been sold inside the United States at Nokia's flagship stores.
The phone will sell for $149 with a two-year service contract and after a $100 mail-in rebate. Nokia trumpeted the success of the phone worldwide, and announced in February that it had sold 1 million units in three weeks. However, the phone has not been picked up by any of the Tier 1 U.S. carriers.
In other Cincinatti Bell news, the company said it will cut 7 percent of its workforce, or about 200 jobs, and will suspend company contributions to 401(k) plans along with other cost-cutting efforts as it struggles in the weak economy. The company posted $28.8 million in net income in the first quarter, up from $12.9 million in the year-ago quarter, but revenue fell 7 percent to $325.5 million. Wireless revenue was down 3 percent, to $76.3 million from $78.5 million.
"Cincinnati Bell's results this quarter reflect a soft economy," said Cincinnati Bell CEO Jack Cassidy in a statement. "An increase in the local unemployment rate, a contraction in capital markets and an increase in delinquencies all contributed to mixed financial results."
- see this article
- see this post on the 5800
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