TerreStar (TSTR) Jumps On Deal With AT&T To Distribute its Smartphone
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Shares of TerreStar Corporation (Nasdaq: TSTR) are 20% higher in early trading after the company announced an agreement with AT&T (NYSE: T) to bring to market the TerreStar GENUS Smartphone.
The TerreStar solution will combine AT&T's wireless connectivity with the ability to use an all-IP satellite network as back up throughout the United States. Using one phone number and one device, users will be able to access voice and data services in the United States, Puerto Rico, the U.S. Virgin Islands and offshore coastal waters over either the AT&T cellular network or the TerreStar satellite network.
The TerreStar GENUS Smartphone is a revolutionary device, combining 3G terrestrial wireless capability with satellite voice and data in a standard smartphone size and form factor. The device uses the Windows Mobile operating system to provide rich smartphone functionality and includes premium features such as a touchscreen, WiFi, Bluetooth, GPS and a QWERTY keyboard. The solution is intended to work as a user's everyday cellular smartphone device, with satellite access capability as a secondary option when needed.
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