Best Buy Seals The Deal With Virgin Mobile USA.Business Editors & Technology/Telecommunications Writers MINNEAPOLIS & WARREN, N.J.--(BUSINESS WIRE)--June 20, 2002 Best Buy Co., Inc. (NYSE NYSE See: New York Stock Exchange :BBY BBY Best Buy (stock symbol) BBY Before Battle of Yavin (Star Wars) BBY BeBeyond (Chinese online community) ) today announced that it sealed a distribution deal with Virgin Mobile USA Virgin Mobile USA (NYSE: VM) is a cellular telephone company that is a joint-venture between Sir Richard Branson's Virgin Group and Sprint Nextel. Virgin Mobile USA uses Sprint's CDMA-based Personal Communications Service (PCS) network. , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Whether customers live in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. or Seattle, Wash., they will find Virgin Mobile entertainment-oriented cell phones in the cellular section of Best Buy, Media Play and Sam Goody Sam Goody is a music and entertainment retailer in the United States and formerly in the United Kingdom. It is owned and operated by Musicland, which itself is owned by former rival Trans World Entertainment which also runs Suncoast Motion Picture Company and, until January 2006, , totaling nearly 1,000 U.S. stores by August 2002. Additionally, Sam Goody, Best Buy Co., Inc.'s mall-based retail store, will exclusively offer Virgin Mobile's products and services. "We believe that Best Buy's commitment to the youth cellular market is what makes this relationship unique," said Daniel H. Schulman, chief executive officer of Virgin Mobile USA. "When people walk into Best Buy's stores, they expect access to the newest electronic devices and music releases. This relationship fuels those expectations by offering a service that is tailored to fit the needs of their customers." "It is our mission to provide electronic enthusiasts with great, affordable products that are easy to purchase," said Richard M. Schulze Richard M. "Dick" Schulze is the Founder and Chairman of Best Buy. He was born and raised in St. Paul, Minnesota where he graduated from Central High School, afterwards attending Marquette University (he did not graduate[1]). He subsequently spent time in the U.S. , founder, chairman and chief executive officer of Best Buy, Co., Inc. "Virgin Mobile appeals to our youth oriented market segment by being a powerful, edgy brand that offers an innovative, entertainment-focused mobile phone service." Virgin Mobile is solely committed to designing cellular products and services around the needs of young Americans. Focusing on fun and entertainment-oriented applications, Virgin Mobile's customized features like VirginXtras and text messaging Sending short messages to a smartphone, pager, PDA or other handheld device. Text messaging implies sending short messages generally no more than a couple of hundred characters in length. keep customers entertained when the same old conversations won't do it anymore. By creating one price plan with no contracts to sign and no fine print, Virgin Mobile offers a world without hidden charges. The pricing is simple - just 25 cents per minute for the first ten minutes of each day, and then 10 cents for every minute thereafter. Using as much or as little airtime as they want, customers can simply Top-Up their Virgin Mobile account as needed as needed prn. See prn order. . With great rates, fast setup and easy payment options, Virgin Mobile customers talk more and pay less. About Virgin Mobile USA, LLC Virgin Mobile USA, LLC is a joint venture between Sir Richard Branson's Virgin Group, and Sprint, which operates the largest all-digital, all-PCS nationwide wireless network. Established in October 2001, Virgin Mobile is the first mobile virtual network operator A Mobile Virtual Network Operator (MVNO) is a company that provides mobile (sometimes called wireless or cellular) telephone service but does not have its own allocation of the radio frequency spectrum nor all of the infrastructure required to provide mobile telephone service. (MVNO (Mobile Virtual Network Operator) A reseller of wireless services. MVNOs do not own licensed spectrum and typically do not have any of their own wireless network infrastructure. ) in the United States and is the first U.S. company to create a step-down price plan with no contracts to sign and no fine print. Under the arrangement with Sprint, Virgin Mobile will utilize Sprint's wireless network to deliver service to its customers, while retaining all responsibility for customer service and subscriber maintenance. Virgin Mobile's service includes long distance, voicemail, caller ID, call waiting, text messaging and directory assistance. All customers will also receive VirginXtras - a host of music, entertainment, group messaging and just plain fun features that add flair to the cellular experience. Virgin Mobile cell phones will be available in up to 1,000 U.S. Best Buy, Media Play and Sam Goody retail outlets. For those customers who are perpetually plugged-in, Virgin Mobile's cellular products and services are available 24/7 through the Web at www.virginmobileusa.com and Virgin Mobile's Central Intelligence number at 1-888-322-1122. About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is North America's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates retail stores and commercial web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca); Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com), and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,900 retail stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands. For more information on Best Buy, visit our virtual pressroom at http://onlinepressroom.net/bestbuy. |
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