Strategic Focus (continued)
Our business has been successful because we embrace a demographic that has long been underserved in the wireless industry. Our target customers – young, ethnically diverse and in households typically making less than $50,000 a year – are among the fastest-growing segments in the U.S. wireless industry. Our customers turn to us for value and the ability to control their costs with our predictable, flat-rate plans. We believe Leap is well positioned to continue benefiting from a flight to value during challenging economic environment, as consumers turn to companies like ours that offer more value at prices they can afford.
Wireless is – and always has been – a highly competitive business. Recently, we have seen other carriers move toward flat-rate, prepaid plans like the ones we pioneered. In the past, we have seen more than a dozen competitors attempt to enter the unlimited space. Despite this competition, we have continued to achieve strong penetration and financial results. Our strategy is to remain focused on the fundamentals that have made us successful: offering a great customer experience with robust networks, superior handsets and value-rich products. By delivering unlimited value to the customers we serve, we believe we are positioned to continue driving demand for unlimited wireless services.