TracFone Wireless, Inc.
About
flag this descriptionFor the TracFone by KVH Industries, see that company's article.
TracFone Wireless or TracFone is a prepaid mobile phone provider. A subsidiary of América Móvil, it provides service in the United States, Puerto Rico and the United States Virgin Islands.
TracFone was Accredited by the Better Business Bureau on June 30, 2003 and had an A+ Rating as of July 30, 2009.
TracFone was established in 1996 as Topp Telecom Inc., a prepaid cell phone company, in Miami, Florida. In February 1999, Topp received a major infusion of capital from Teléfonos de México or Telmex (NYSE: TMX), Mexico's largest telephone company. TelMex paid $57.5 million for a 55 percent controlling interest in the company.
In 2000, Telmex spun off their mobile unit, creating América Móvil, of which Topp Telecom became a subsidiary. In November 2000, Topp Telecom Inc. changed its name to TracFone Wireless Inc.
TracFone provides four brands of service: TracFone, NET10, Safelink Wireless, and Straight Talk.
Full description of TracFone Wireless at Freebase
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We continue to closely manage costs, and in 2009 we generated the highest annual free cash flow since the merger ... The fourth quarter completion of the Virgin Mobile USA, Inc. and iPCS, Inc., acquisitions, as well as our additional large investment in Clearwire, are important to our future.
The company is showing slow and steady progress
There's no question the industry is getting more competitive
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