Verizon Wireless products and services have been noticeably absent from RadioShack’s wireless portfolio, but that comes to an end this fall. The nationwide retailer on Tuesday announced an agreement that will finally see it begin to offer devices from the country’s top carrier on September 15th. At the same time, The Shack announced that it will stop selling T-Mobile products and services a day earlier on September 14th. Following the company’s second-quarter earnings report, which saw net income slide 53% from the same quarter last year, RadioShack stock climbed 7% on the news. “This is a substantial win for our customers, as this relationship with the nation’s largest wireless provider will further enhance our position as a leading multi-carrier wireless retailer,” RadioShack CEO Jim Gooch said in a statement. “The addition of Verizon Wireless, in combination with our existing carrier partners, positions us to now offer the best assortment of carriers, rate plans, devices and accessories for every consumer need.” RadioShack’s full press release follows below.
RadioShack to Offer Verizon Wireless Products and Services in Company-Operated Stores
– New agreement with industry leader means consumers benefit, with more than 4,300 RadioShack stores to offer Verizon Wireless services
– RadioShack ceases offering T-Mobile services in storesFORT WORTH, Texas, July 26, 2011 /PRNewswire via COMTEX/ —
RadioShack Corporation (NYSE: RSH),a leading national retailer of innovative mobile and technology products, services and accessories, today announced that it has entered into an agreement with Verizon Wireless, the nation’s largest wireless carrier, to provide postpaid and prepaid wireless products and services in RadioShack’s company-operated stores nationwide beginning Sept. 15, 2011. The Company also announced that it will cease offering T-Mobile wireless products and services in its company-operated stores effective Sept. 14, 2011.
RadioShack expects to launch Verizon Wireless products and services, including top-selling handsets, in more than 4,300 U.S. company-operated stores and through its website, www.RadioShack.com, beginning Sept. 15.
Jim Gooch, president and chief executive officer of RadioShack Corporation, commented on the new Verizon Wireless agreement, stating, “This is a substantial win for our customers, as this relationship with the nation’s largest wireless provider will further enhance our position as a leading multi-carrier wireless retailer. The addition of Verizon Wireless, in combination with our existing carrier partners, positions us to now offer the best assortment of carriers, rate plans, devices and accessories for every consumer need.”
Dan Mead, president and chief executive officer of Verizon Wireless, said, “We view this as an opportunity to substantially extend our customer reach at a time when our portfolio of mobile products has never been more exciting. RadioShack has a long track record of providing customers with quality products and services in convenient locations around the country, and we are delighted to join with them on this venture.”
