I've been behind with reading my business RSS feeds, so I missed that Helio is finally being sold and integrated into Virgin Mobile. It is important to note that SK Telecom will own 17.7% of the new business, while EarthLink will have about 2.7%. Even more revealing is how Sky Dayton will not be involved at all.
I was somewhat excited about Helio before it launched. Once it hit the streets, I was generally unimpressed and did not think it had a reasonable chance to succeed. The biggest issue for me was their inability to understand the market. For some reason, the media in this country thinks that everything Sky Dayton touches will turn to gold. His name was made with EarthLink, primarily, which has burned through money for much of its life. Until they started laying off employees by the thousands in exchange for offshore workers, they were never able to generate a profit. Now they tell everyone they expect to have a declining customer base (you can find it in their SEC filings).
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