AT&T breaking out of its traditional wireless mould – T, AAPL & GM

Boston, MA 02/27/2013 (wallstreetpr) – AT&T Inc (NYSE:T) is looking beyond its expansive wireless service for growth. America’s largest phone company will be moving into the European market with the launch of mobile licenses for the home-watchdog products that it offers. Over 30 countries from across the world have asked for licenses for AT&T Inc (NYSE:T)’s Digital Life product. The president of emerging devices, Glenn Lurie said that this product affords customers the functionality of monitoring their homes via a mobile device and can be used effectively in case of break-in’s and leaks.

Market bigger than expected

The unbelievably high demand has exceeded the company expectations as AT&T had expected no more than two or three inquiries. He also said that AT&T Inc (NYSE:T) is back to signing deals and talking to carriers. Lurie has been the head of AT&T Inc (NYSE:T)’s connected-devices division since 2008. This division is in charge of overseeing everything from tablets, connected power grids and mobile payments. Lurie was responsible for negotiating the exclusive deal with Apple Inc (NASDAQ:AAPL) to carry the first iPhone said that he realized very early in the game that his unit’s customers wanted globally workable simplified solutions.

New horizons

AT&T Inc (NYSE:T) is heading towards being a technology company as it steams ahead with the development of new lines of business such as mobile-wallet applications and home-monitoring systems that operate on wireless technology. The company’s wireless service revenue has been slowing down and these new ventures will supplement its growth. Randall Stephenson, AT&T Inc (NYSE:T) CEO said that the company had experienced its lowest annual growth rate in two years and that international partnerships will be considered.

General Motors Company (NYSE:GM) will now be equipping its vehicles with similar tools and will be powered by OnStar from AT&T. The company is also forging a partnership agreement with OnAsset Intelligence Inc which will help airline companies and their customers to track their high-value cargo via wireless applications while in transit. AT&T Inc (NYSE:T)’ wireless head Ralph de la Vega said that the company will not comment on reports of any business acquisitions in Europe even though it has plans of international expansion.

Shares of AT&T Inc (NYSE:T) went up by 0.855 to close at $35.49

Shares of Apple Inc (NASDAQ:AAPL) went up by 1.39% to close at $448.97

Shares of General Motors Company (NYSE:GM) went up by 1.90% to close at $26.83

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Published by Viraj Shah

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.

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