RadioShack to Start Wireless Service With Leap
RadioShack Corp. (RSH), the electronics retailer whose shares have plunged 74 percent this year, is starting a no-contract wireless service with Leap Wireless International Inc. (LEAP)’s Cricket Communications to spur sales.
Two phones from China’s Huawei Technologies Co. including the Huawei Mercury Ice go on sale tomorrow with two more devices available by the end of September, RadioShack and Leap Wireless International Inc.’s Cricket said today in a statement.
RadioShack Chief Executive Officer Jim Gooch is working to spur sales that have fallen in four of the past seven quarters. Third-quarter sales may rise 0.9 percent to $1.04 billion, the average of 16 analysts’ estimates compiled by Bloomberg.
RadioShack, based in Fort Worth, Texas, advanced 4.1 percent to $2.53 at the close in New York. San Diego-based Leap slipped 0.2 percent to $5.46.
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