Dish Network Corp(NASDAQ:
DISH)
stock is up Friday amid reports of selling wireless plans for its
mobile phone service throughAmazon.Com Inc(NASDAQ:
AMZN).
Amazon has been talking with wireless carriers about offering
Prime subscribers $10 a month or possibly for free and
bolster loyalty among its biggest spending customers.
The company is negotiating with
Verizon Communications Inc (NYSE:
VZ),
T-Mobile US Inc (NYSE:
TMUS), and
Dish for the lowest possible wholesale prices, Bloomberg reported
citingknowledgeable sources.
The discussions have been going on for six to eight weeks and
have also included
AT&T Inc(NYSE:
T) at
times.
Amazon's deal could act as a breather for the wireless industry
in the form of wholesale revenue and traffic to newly expanded 5G
networks.
But it could also chip away at the big carriers' customer base
left with minimal bargaining power after pouring billions of
dollars into super-fast, high-capacity 5G wireless networks. As a
result, TMUS, VZ, and T stocks are trading lower Friday.
Analysts say U.S. Prime membership has stagnated since Amazon
boosted the annual price from $119 to $139 for
privileges like speedy free delivery, video streaming, and access
to 100 million songs. However, "P
rime membership continues to grow year-over-year as the value
members receive continues to increase,” Amazon told
Benzinga.
Amazon is vying with
Walmart Inc(NYSE:
WMT), whose
$98-a-year Walmart+ membership proved attractive as a lower-cost
alternative offering many of the same perks as Prime and free
grocery delivery on orders of at least $35.
Amazon spokesperson confirms the earlier report to Benzinga, "
We are always exploring adding even more benefits for Prime
members, but don’t have plans to add wireless at this
time."
Amazon in February raised its free grocery delivery threshold
to $150 from $35.
Dish is already working with Amazon, whose AWS division
provides cloud computing to run the core network for its wireless
service. Dish will also likely start selling its Boost Infinite
wireless service on Amazon by July.
Price Actions:DISH is trading higher by 20% at
$7.55 on the last check Friday. TMUS shares are trading lower by 7%
at $128.86, VZ shares are trading lower by 3.25% at $34.50, and T
shares are trading lower by 5% at $14.93.
Summary Of Mobile Rumblings
Posted by steve on 2nd of Jun 2023 at 03:20 pm
Amazon spokesperson confirms the earlier report to Benzinga, " We are always exploring adding even more benefits for Prime members, but don’t have plans to add wireless at this time."
benzinga.com
I wondered why the pos
Posted by morton7 on 2nd of Jun 2023 at 05:58 pm
I wondered why the pos dish was up so much thx for the summary.