Profile: Leap Wireless International Inc (LEAP.O)
10 Mar 2014
Leap Wireless International, Inc. (Leap), June 24, 1998, is a wireless communications carrier that offers digital wireless services in the United States under the Cricket brand. Leap’s Cricket service offerings provide customers with unlimited wireless services for a flat rate without requiring a fixed-term contract or a credit check. Cricket service is offered by Cricket, a wholly owned subsidiary of Leap. Cricket service is also offered in South Texas by its joint venture STX Wireless Operations, LLC, or STX Operations. It controls STX Operations through a 75.75% controlling interest in its parent company, STX Wireless, LLC (STX Wireless). In addition, it owns an 85% non-controlling interest in Savary Island Wireless, LLC (Savary Island), which holds wireless licenses and a related spectrum lease covering the upper Midwest portion of the United States. On October 1, 2012, the Company acquired the remaining 15% controlling.
Cricket Wireless Service Plans
Leap’s Cricket Wireless service plans are designed to attract customers by offering voice and data services. The Company offers service on a flat-rate, unlimited usage basis, without requiring fixed-term contracts, early termination fees or credit checks. Its Cricket Wireless rate plans features with unlimited local and United States long distance service and unlimited text messaging along with mobile Web, 411 services, navigation and data back-up. It also offers a flexible payment option, BridgePay, which gives its customers flexibility in the use of and payment for its Cricket Wireless service.
Cricket PAYGo Service
Cricket PAYGo is a pay-as-you-go, unlimited prepaid wireless service designed for customers who prefer the flexibility and control offered by traditional prepaid services. Daily and monthly pay-as-you-go versions of the Company’s Cricket PAYGo product are available in all of the markets, in which it operates.
Muve Music Service
In 2011, the Company launched Muve Music, its unlimited music download service, in all Cricket markets. Muve Music is the unlimited music download service designed specifically for mobile handsets. The service is available to customers as a feature in a number of its Cricket Wireless plans and is offered in all of the markets in which it operates as well as through nationwide retailers.
Handsets and Devices
Its handset portfolio includes a spectrum of handsets ranging from higher-end smartphones to lower cost feature phones. Its portfolio of handsets provides features that include Web capabilities, mobile Web browsers, picture-enabled caller ID, high-resolution cameras with digital zoom and flash, integrated frequency modulation (FM) radio and motion picture (MP3) stereo, USB, infrared and bluetooth connectivity, on-board memory and other features to facilitate digital data transmission.
Cricket Broadband Service
Cricket Broadband is the Company’s unlimited mobile broadband service offering that allows customers to access the Internet through their computers for a flat rate with no long-term commitments or credit checks. Its Cricket Broadband service is available to its customers in all of the markets, in which it operates.
The Company outsources its center operations to multiple call center vendors. It outsources its billing, device provisioning, and payment systems to external vendors and also outsource bill presentment, distribution and fulfillment services.
The Company competes with AT&T, Sprint Nextel, T-Mobile, Verizon Wireless and Tracfone Wireless.
Leap Wireless International Inc
5887 Copley Drive
San Diego CA 92111