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United States Cellular Corporation (NYSE: USM), headquartered in Chicago, is a prominent regional wireless carrier with approximately 4.5 million retail connections across 21 states. Serving regions such as the Midwest, mid-Atlantic, New England, and the Pacific Northwest, UScellular's operations cover a population of about 32 million people. The company primarily serves rural areas and second/third-tier cities, with notable exceptions being the greater Milwaukee and Oklahoma City regions.
UScellular provides a comprehensive range of wireless products and services, bolstered by excellent customer support and a high-quality network. Unlike many of its peers, UScellular owns the majority of its towers, which gives it a unique competitive edge. The company also holds a 5.5% stake in Verizon Wireless' Los Angeles operations. In recent developments, UScellular has agreed to sell its wireless operations and 30% of its spectrum assets to T-Mobile for $4.4 billion, with the transaction expected to close in mid-2025.
Financially, UScellular reported total operating revenues of $950 million for the first quarter of 2024, and a net income attributable to shareholders of $18 million. The company has maintained financial discipline, focusing on postpaid ARPU growth and expense management, despite challenging market conditions. UScellular's recent strategic decision to explore a range of alternatives, including the sale to T-Mobile, aims to enhance shareholder value and position the company for long-term growth.
In addition to its core wireless services, UScellular's tower assets represent one of the largest tower businesses in the United States. Post-transaction, T-Mobile will become a long-term tenant on over 2,600 of these towers, ensuring continued service and creating a stable revenue stream for UScellular. The company also retains significant spectrum assets and equity method investments, which generated $158 million in income and $150 million in distributions in 2023.
UScellular remains committed to its mission of connecting people to what matters most, striving to improve network quality, expand 5G services, and maintain strong customer relationships. For more information, visit UScellular.
UScellular reported total operating revenues of $1,027 million for Q3 2020, slightly down from $1,031 million year-over-year. Service revenues increased to $775 million compared to $774 million in Q3 2019. Net income rose significantly to $85 million with diluted earnings per share at $0.97, up from $23 million and $0.27, respectively, in the previous year. The company anticipates improved full-year financial results, driven by low churn rates, increased connected devices, and higher ARPU. UScellular also achieved a significant milestone in 5G technology, enhancing service capabilities, particularly for rural customers.
UScellular will launch the iPhone 12 Pro Max and iPhone 12 mini, expanding its 5G offerings. Orders for both models start on November 6, with availability on November 13. The iPhone 12 Pro Max features a 6.7-inch display, enhanced camera capabilities, and the A14 Bionic chip, while the 5.4-inch iPhone 12 mini offers powerful features in a compact design. Promotions include free iPhone 12 or iPhone 12 mini for new customers and $200 off for existing ones. UScellular’s 5G network currently covers parts of six states, with plans for expansion.
Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) are set to release their third-quarter operating results on November 5, 2020, after market close. They will also hold a conference call to discuss these results on November 6, 2020, at 9:00 a.m. CT. Investors can access the live and on-demand webcast through the companies' investor relations websites. TDS, serving approximately 6 million connections nationwide, provides wireless and broadband services.
UScellular is set to launch the LG K92 5G smartphone on November 19. This device will enhance the 5G connectivity experience with features like a 6.7-inch FHD+ FullVision display and an array of camera options. New customers can acquire the phone for free after $350 in bill credits, while existing customers pay $150 after $200 in credits. UScellular's 5G network currently serves parts of several states and is expanding to additional areas. This initiative signifies UScellular's commitment to delivering advanced technology and maintaining its position as a competitive wireless carrier.
UScellular announces the availability of the new iPhone 12 lineup, including iPhone 12 Pro, Pro Max, and Mini, starting October 16 and November 6, respectively. The devices feature advanced 5G capabilities, a Ceramic Shield front cover, and the A14 Bionic chip. In addition, UScellular introduces the iPad Air on October 23, boasting the same chip and enhanced performance. Customers can obtain the iPhone 12 for free with a new service switch or $200 off for existing customers. 5G activation will occur in select areas across 11 states.
UScellular has announced a $300,000 donation to JASON Learning for the third consecutive year, aimed at enhancing STEM education accessibility. The funds will support JASON’s remote-based curriculum, which is vital as many students adapt to new learning environments. UScellular previously collaborated with JASON to develop the "Connected Storm Sanctuary" challenge, encouraging innovative disaster response solutions from students. Despite pandemic-related challenges, JASON Learning continues to provide engaging online STEM content, emphasizing the importance of equitable access to quality education for all students.
UScellular, the only carrier that pays customers back for unused data, announced preorders for the Google Pixel 5 starting Oct. 8, with availability on Oct. 29. Additionally, preorders for the Google Pixel 4a (5G) will begin on Oct. 29, launching on Nov. 19. The Pixel 5 will be available at $23.30/month, while the Pixel 4a (5G) will cost $16.63/month on 30-month installment plans. These devices enhance UScellular's 5G lineup, which is expanding coverage to various states, ensuring customers can leverage fast 5G speeds.
UScellular has introduced its Failover Internet Solution, designed to ensure uninterrupted internet connectivity for businesses and government entities. This solution leverages reliable wireless backup, enhancing their previous offerings. It aims to mitigate delays caused by network disruptions, which can affect a company's reputation and operational efficiency. With costs under $2 per day and no upfront hardware fees, the service includes automatic application support and a 14-day satisfaction guarantee.
Telephone and Data Systems (NYSE: TDS) and United States Cellular Corporation (NYSE: USM) will participate in a fireside chat hosted by Morgan Stanley on August 20, 2020, at 3:30 p.m. EDT. Key executives, including LeRoy T. Carlson Jr. and Douglas W. Chambers, will be present. The chat will be available for live streaming and on-demand viewing. TDS provides wireless and broadband services to approximately 6 million connections across the U.S., employing around 9,300 people as of June 30, 2020.
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