CTIA Wireless 2008
Verizon Wireless Launches Loopt Mobile Application
| Mar 28, 2008 | Wireless Services - U.S
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Analyst: Deepa Karthikeyan
Current Perspective: Neutral/Positive
Vendor Importance: Moderate
Market Impact: Moderate |
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Event Summary
March 28, 2008 -- Verizon Wireless has announced the launch of its new social networking cum LBS application, Loopt, which will enable its members to locate other users on a map, facilitating easy coordination between them. Users have the freedom to hide their location details, reveal it only to a few select members, or turn off the feature completely, giving them more control over the application. At launch, Loopt will be available on 20 handsets and it will be priced at a monthly fee of $3.99 that excludes data charges.
Analytical Summary
• Current Perspective: Slightly positive on Verizon Wireless’ launch of Loopt on its phones, as the service complements the carrier’s existing suite of applications, which include VZ Navigator and Chaperone. Loopt mobile is interesting in that it combines the attributes of location tracking with those of social networking, creating a dynamic end product. The service requires users' permission to be active and it can be switched off at any time, providing users with more control over the service and assuring them of the safety factor.
• Vendor Importance: Moderate to Verizon Wireless, as Loopt provides it with an additional presence in the social networking and LBS segments. Loopt’s networking aspect makes it a sticky application; the service is also carrier-interoperable, which will ensure traction and increase subs for the carrier.
• Market Impact: Moderate on the wireless services segment, because the increase in traction for services such as Loopt is a sign that the industry acknowledges their value and contribution in the ecosystem. The combination of social networking sites and LBS is very lucrative, as it furthers the networking aspect, which is evident in recent initiatives taken by social networking sites such as Facebook (via the launch of FindMe).
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