Charter Communications CHTR Spectrum Mobile recently partnered with Orbic, the U.S. smartphone manufacturer, to add the Journey V 4G LTE flip phone to the former’s lineup of devices.
The Orbic Journey V flip phone, which is easy to use and has web-browsing capability, camera and texting features and is priced under $100.
The Orbic Journey V is available from Spectrum Mobile for $95.99 or $4/month for 24 months — with 0% interest on device payment plans.
Customers will be able to pair the Journey V phone with Spectrum Mobile’s converged mobile broadband service and its unlimited talk time and texting plans.
Spectrum Mobile Expansion Efforts Drive Prospects
Charter continues to benefit from growth in Internet and mobile revenues and steady customer wins.
Internet revenues grew owing to a fortified customer base, promotional roll-off and rate adjustments. Charter continues to witness solid Internet usage due to the coronavirus-induced work-from-home and online-learning routine.
The company’s broadband service has gained traction among SMBs and enterprises. Additionally, an expanding mobile-subscriber base is a key catalyst.
Charter launched its Spectrum Mobile service on Jun 30, 2018, under a mobile virtual network operator (MVNO) reseller agreement with Verizon VZ.
Charter’s Spectrum Mobile uses a combination of Verizon’s network and the Charter’s own network of WiFi hotspots accrued throughout the United States.
Since then, Spectrum Mobile has expanded its 5G coverage nationwide.
In 2020, Spectrum Mobile partnered with Samsung to offer the latter’s new line of 5G-enabled Galaxy S20 series phones.
In 2021, Spectrum Mobile extended its partnership with Apple AAPL to offer the latest 5G-enabled iPhone 13 series.
More recently, in March, Spectrum Mobile announced that it would be offering Apple iPhone SE, the alpine green iPhone 13 Pro and stunning green iPhone 13, and iPad Air.
Charter Communication’s expanding mobile subscriber base is a key catalyst in the company’s growth. In the last reported quarter, Charter’s mobile revenues climbed 47.5% year over year to $632 million.
Fourth-quarter total residential and SMB mobile lines increased by 380,000. As of Dec 31, 2021, Charter served a total of 3.6 million mobile lines, with 1.2 million mobile lines added in 2021.
The consensus mark for first-quarter 2022 mobile revenues is pegged at $664 million, indicating a surge of 35% from the figure reported in the year-ago quarter.
Zacks Rank and A Stock To Consider
Charter currently holds a Zacks Rank #3 (Hold).
Charter shares have dropped 14.1% in the year-to-date period compared with the Zacks Cable Television industry’s decline of 6.8% and the Consumer Discretionary sector’s fall of 15.8%.
A better-ranked stock in the Zacks Consumer Discretionary sector is Funko FNKO, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Funko’s shares have declined 5.1% compared with the Zacks Consumer Products - Discretionary industry’s fall of 26.6% and the Consumer Discretionary sector’s drop of 15.9% in the year-to-date period.
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