by William White | October 1, 2013 12:03 pm
FreedomPop, a wireless startup, is teaming up with Sprint (S) to offer customers a free smartphone service.
The service came into existence when FreedomPop CEO Stephen Stokols bought crates full of second generation smartphones that were going to be shipped to Asia. The startup purchased around 140,000 HTC Evo handsets for $68 a piece. FreedomPop then refurbished the smartphones to work with Sprint’s 4G LTE network. Customers will be able to purchase the smartphones for $99 and will get 500 Mb of data, 500 text messages and 200 anytime minutes a month for free. The startup will also offer a plan with unlimited voice and text service for $10.99 a month. This price undercuts similar plans offered by Verizon (VZ), T-Mobile (TMUS) and AT&T (T) by about 80%. FreedomPop will also allow users to friend each others’ accounts and trade bandwidth based on their needs, reports USA Today.
FreedomPop will also offer a $7.99 a month plan for those not wanting the free or $10.99 plan. This plan comes with 500 minutes, unlimited messages, and 500MB of data.
Source URL: https://investorplace.com/2013/10/freedompop-launches-first-ever-free-smartphone-service/
Short URL: http://invstplc.com/1nCCipd
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.