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Nextel of California, Inc history
Nextel of California, Inc company history timeline
In April 1991, Fleet Call formally requested permission from the FCC to design and build digital communications systems that would operate on the SMR bands.
In December 1991 the Japanese consumer electronics giant Matsushita joined the project.
Much of Fleet Call's expansion was made possible by its December 1992 merger with Dispatch Communications, another mobile radio company with the same plans as Fleet Call.
In January 1993, the company scored something of a coup when it hired John Caner, director of wireless data development at PacTel Cellular.
Two months later, in March 1993, the company changed its name to Nextel Communications.
The company established numerous service trials in California during 1993, offering service to 500 customers.
Although Nextel lost $10 million on only $34 million in revenue during 1993, its market value was quoted at a staggering $9.5 billion.
Perhaps the most important acquisition made by Nextel, however, came in August 1994, when the company acquired the SMR licenses of Motorola in exchange for an additional interest in the company.
Plans were expanded to provide seamless service throughout California by mid-1994.
In February 1995, Nextel signed a merger agreement with Dial Page, Inc., which was the leading SMR provider in the southeastern United States.
In April 1995, wireless communications pioneer Craig McCaw (of the AT&T/McCaw combination), along with his family, decided to invest over $1 billion in Nextel.
Nextel had ordered approximately $100 million worth of the service from Motorola earlier in the year, and thus began a national rollout of the new service in September 1996, after a very successful Summer Olympics 1996 pilot program.
In May 1997, the company announced a roaming agreement with Clearnet in Canada, which allowed Nextel's United States customers roaming access in much of Canada.
In September 1997, McCaw--which had become a wholly owned subsidiary of Nextel earlier in the decade--changed its name to Nextel International, Inc.
The following month, in October 1997, Nextel recorded its millionth subscriber--interestingly, almost exactly ten years after Fleet Call had been formed.
Throughout the rest of 1997, as Nextel continued to launch its all-in-one iDEN service throughout the country, it also increased its presence in Canada.
By June 1998 (less than one year after the company signed its millionth customer) Nextel had signed up its two millionth subscriber.
As Nextel approached the 21st century, it was well-positioned within the still-blossoming wireless communications industry. It was continuing to introduce new products and technologies (evidenced by the arrival of the i1000 in September 1998), and was achieving positive cash flow near the end of the decade.
In 1999 the company reported a loss of more than $1.5 billion on sales of about $3.8 billion.
More than 209 percent more phones were sold through this sales channel than in 2000.
Through its acquisition in May 2001 of the "Let's Talk Cellular & Wireless" retail chain, the 200 outlets of which were re-branded Nextel stores, the company opened up an important new marketing channel and also helped to facilitate service and repairs for its existing customers.
Through its acquisition in May 2001 of the "Let's Talk Cellular & Wireless" retail chain, the 200 outlets of which were re-branded Nextel stores, the company opened up an important new marketing channel and also helped to facilitate service and repairs for its existing customers. Based on its experience in 2001, the average revenue per unit at Nextel stores was even higher than that generated through the company's other sales channels.
Nextel's iDEN network, along with the compatible digital mobile network of Nextel Partners, were operational in 195 of the top 200 metropolitan statistical areas of the United States as of December 31, 2001.
As of the end of 2001, Nextel had nearly 8.7 million digital handsets in service in the United States.
A good part of Nextel's 2001 loss was directly attributable to the problems of its global subsidiary, which had defaulted on most of its $2.7 billion in debt.
In its 2001 Annual Report, the company described its employees as "the power behind our performance and results.
As of March 31, 2002, Nextel's subscribers totaled 9.2 million.
carew, sinead. "nextel rises on strong first-quarter results." reuters business report, 17 april 2002.
——. "telecom goes back to the future with walkie talkies." reuters, 22 may 2002.
meyerson, bruce. "nextel unit files for bankruptcy." ap online, 24 may 2002.
Color service was to be introduced in the summer of 2002.
Recognizing the importance of continuing education for its employees, Nextel in 2002 planned significant enrichment initiatives with Nextel University and Quarterly Career & Development Planning.
"nextel communications inc." hoover's online, 2002. available at http://www.hoovers.com.
At the time of its 2005 merger with Sprint Corp., Nextel had over twenty million dedicated subscribers in the United States and served 198 of the top 200 markets.
In late 2010, Sprint Nextel Corporation publically announced plans to decommission the Nextel iDEN network.
By 2013 Sprint Nextel Corporation had a market value of over $30 Billion Dollars.
"Nextel Communications Inc. ." Company Profiles for Students. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/economics/economics-magazines/nextel-communications-inc
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