Demand has been building, and MetroPCS (PCS) is about to deliver a phone which deserves to be called its flagship phone. The LG Esteem will be released soon for the Christmas shopping season (release is expected by early October). Some might call this a shot fired back at Verizon (NYSE:VZ) because the phone is nearly identical to the Verizon LG Revolution.
It is a 1 Ghz 4G LTE Android 2.3.4 with a large 4.3" screen and 5 megapixel camera. Other features include HDMI output, and front and rear cameras. The phone is 720p and also has a flash!
The release will be the third 4G LTE phone released by MetroPCS. MetroPCS was technically the first to bring 4G LTE phones to the market, but has lagged behind much of the competition in introducing 4G LTE phones since. The phone already has FCC approval. The phone is expected to retail for $299.
The phone will add greatly to the quality of the MetroPCS lineup. A screenshot of the phone is shown below.
This week MetroPCS stock has been down on news that Verizon has lowered its all you can use prepaid plan pricing to $50 in direct competition with MetroPCS. Industry wide, AT&T (NYSE:T) has announced it is seeking to save the T-Mobile takeover/merger by trying to sell excess spectrum to smaller companies such as Sprint (NYSE:S) and MetroPCS and LEAP Wireless (LEAP). The S&P 500 was down Monday on economic jitters. Monday night futures were also down slightly at the time of writing. MetroPCS stock versus the S&P 500 is shown below.
Disclosure: I am long PCS.