iPhone 4S for just $150; Sales starting on April 20th
Ntelos Holding Corp., has opted to start selling the iPhone now for just $150.
A small Virginia-based cellphone company, Ntelos Holding Corp. shook all the big carriers after it decided that it will start selling the iPhone at prices even cheaper than those of the other carrier companies.
Ntelos Holding Corp. will be selling the basic model of the iPhone i.e. iPhone 4S for just $150 on April 20, making it $49 cheaper than the prices placed by AT&T, Verizon and Sprint charge. The Verizon iPhones equipped with some extra storage sells for $250 and $350, which is another $49 cheaper than the other competitors. A 2-year contract is mandatory, with monthly service fee of $80 or $100, which is even comparable to the fees charged by others.
Ntelos is mainly based in Waynesboro and quite widespread with more than 421,000 subscribers in Virginia, West Virginia and portions of Maryland, North Carolina, Pennsylvania, Ohio and Kentucky.
It has now secured its place as the 5th U.S. based company to get the iPhone, with the three big Mississippi based regional carrier C spire wireless which took on the iPhone last year.
Ntelos Chief Financial Officer, Stebbins Chandor commented that the phone companies subsidize the iPhone, which is about $600 wholesale and selling the iPhone would mean shouldering up a big front cost but the phone would start paying off by 2014.
With major companies opting to sell the iPhone, the huge regional phone company – U.S. Cellular has turned down the iPhone because of its “too expensive” pricing.
The CEO of Ntelos Holding Corporation, James Hyde said that this step has been taken in order to fill up the gap in the companies Smartphone lineup and then compete with other carriers. Ntelos suffered quite a loss in the first quarter with the subscriptions decreasing by 5,000 people from the contact-based plans, which are most-lucrative and also add on to the subscribers. This resulted in the Ntelos shares falling 30 cents i.e.1.5% to $20.35 in the midday trainings.