Added: 11/08/2005 |
Triton PCS Holdings, Inc.The company is marketing its wireless services under the brand SunCom Wireless and uses the SunCom Wireless network. Triton PCS provides a digital service in one of the nation's largest regional territories, spanning from the south of Washington, D.C. to the east of Atlanta, Georgia. Triton PCS is wholly owned subsidiary of Triton PCS Holdings, Inc.
The main activity of Triton PCS Holdings, Inc. is to provide wireless communication services. In addition, personal communication services, personal communications handsets and accessories of high quality are offered by Triton PCS Holdings, Inc. The Group charges a fee to the other wireless telecommunications companies for their customer's use of the Group's network facilities. Triton PCS Holdings, Inc. presents its products and services to retail customers, businesses, institutions and governments. The company sells its products and services through its distribution channels that include a network of company-owned retail stores, independent agent retailers, a direct sales force for corporate accounts and online sales.
In 2005, SunCom abandoned the Triton name to align its corporate identity with its product brand. Today, SunCom Wireless (formerly Triton PCS) offers wireless communications services to nearly one million subscribers and has PCS licenses in five states in the south eastern US, as well as Puerto Rico and the US Virgin Islands. It operates under the SunCom brand and markets handsets and services through company-owned retail stores, national retailers, and a direct sales force.
SunCom Wireless formerly was a member of the AT&T Wireless network; its exclusive co-branding agreement with AT&T Wireless (who owned seventeen percent of SunCom) ended, when that company was acquired by Cingular Wireless in 2004.
At the end of 2004, the leader in providing the digital wireless phone service, Triton PCS was serving nearly a million subscribers. In December, 2004, the company completed the previously announced properties exchange with Cingular Wireless and AT&T Wireless. Due to this exchange, Triton PCS received former AT&T Wireless network assets and customers in North Carolina, Puerto Rico and the U.S. Virgin Islands in exchange for its network assets and customers in Virginia. The company posted a fourth-quarter gain of eight hundred and forty eight million dollars, related to activities with Cingular and the former AT&T Wireless.
Today, Triton PCS is working aggressively on the transition of the AT&T Wireless customers to its system. "However, our fourth-quarter results reflected a continued confusion in the marketplace, which resulted in fewer subscribers at the end of the year than we expected. Additionally, the longer time frame for transitioning subscribers and integrating our new networks means we won't realize projected synergies this year," said Michael Kalogris, the Triton PCS chairman and CEO. "The combination of these factors will result in 2005, being significantly lower than previously thought."
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