SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Sep 28, 2012) - The Wireless Communications Industry has benefited from the rapidly growing demand for smartphones. It is estimated that more than 50 percent of all cellphone users in the U.S. carry a smartphone. The S&P 500 Telecommunication Services Sector Index has gained nearly 22 percent year-to-date, outpacing the S&P 500 Index gain of 14 percent over the same period. The Paragon Report examines investing opportunities in the Wireless Communications Industry and provides equity research on Sprint Nextel Corporation (NYSE: S) and Clearwire Corporation (NASDAQ: CLWR).
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Recent data has shown that while consumers have cut back spending on amenities coming out of the recession their spending on their phone bills has increased. According to data released from the Labor Department earlier this week in 2011 spending on phone services in the U.S increased by 4 percent, which was the fastest rate in nearly 7 years. Wireless carriers -- such as Verizon and AT&T -- had mobile services revenues of 22 billion in 2007, which then soared to 59 billion by 2011, according to UBS AG analysts. UBS expects that number to rise to $109 billion by 2017.
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Sprint Nextel served more than 56 million customers at the end of the second quarter of 2012. The company's cash and equivalents during the first quarter reached a six-year high of $7.6 billion, as of June 30 cash and equivalents totaled $6.8 billion. Sprint is scheduled to release financial results for the third quarter 2012 on Thursday, October 25. Sprint shares have gained over 130 percent in 2012.
Clearwire holds the deepest portfolio of wireless spectrum available for data services in the U.S. The company recently announced an agreement that would enable EarthLink to offer its customers high-speed fixed and mobile broadband service using Clearwire's 4G network.
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