Pegasus Strategies Wireless Overview 2012

Includes Middle East & Africa!

Bernard Moon

Content!

•  FAST FACTS

•  PREDICTIONS FOR 2012

•  OVERVIEW OF MIDDLE EAST

•  OVERVIEW OF AFRICA

•  PRIMARY SECTORS

•  GLOBAL WIRELESS UNIVERSE

•  DETAILED PROFILES OF SELECT COMPANIES

Fast Facts!

Top Fifteen Wireless Carriers Worldwide 2012

1.  China Mobile, 644.3 million

2.  SingTel, 424 million

3.  Vodafone Group, 358 million

4.  America Movil, 290.4 million

5.  Telefonica, 227.3 million

6.  VimpelCom, 199 million

7.  Bharti Airtel, 170 million

8.  Axiata, 168 million

9.  Orange, 162 million

10. TeliaSonera, 160 million

11. MTN Group, 158.6 million

12. China Unicom, 153.6 million

13. Reliance, 147 million

14. Telenor Group, 133 million

15. Saudi Telecom, 130 million

Source: company website & reports

Worldwide Mobile Phone Sales Market Share 2011

• Nokia 22.8% • Samsung 16.3% • LG 5.7% • Apple 4.6% • ZTE 3.0% • RIM 3.0% • HTC 2.6% • Motorola 2.4% • Others 39.6%

Source: Gartner

Worldwide Smartphone OS Market Share 2011

• Android 43.4% • Symbian 22.1% • iOS 18.2% • RIM 11.7% • Bada 1.9% • Microsoft 1.6% • Others 1.0%

Source: Gartner

Mobile Phone 2011 Market Share Mobile OS 2011 Market Share

Top Ten U.S. Wireless Carriers 2011

1.  Verizon, 106.3 million

2.  AT&T, 98.6 million

3.  Sprint Nextel, 51.8 million

4.  T-Mobile, 33.6 million

5.  MetroPCS, 9.1 million

6.  U.S. Cellular, 5.9 million

7.  Leap Wireless, 5.7 million

8.  Cellular South, .9 million

9.  ATN, .64 million

10. Cincinnati Bell, .49 million

Source: FierceWireless (# subscribers)

Top Ten 3G Markets Worldwide 2010 Subscribers Penetration Rate

1.  USA 141 million 47%

2.  Japan 109 million 95%

3.  Korea 40 million 79%

4.  Italy 34 million 40%

5.  UK 31 million 41%

6.  Germany 28 million 28%

7.  Spain 27 million 48%

8.  Poland 23 million 50%

9.  Indonesia 21 million 11%

10. France 21 million 33%

Source: KPCB

• 60% of time spent on smartphones is new activity for mobile users (i.e. web, apps, games, etc.)

“Global mobile data traffic should grow 26x over the next five years.” !

- Mary Meeker, KPCB!

Fast Facts!

Android’s Great Leap Forward •  Between Q4 2009 and Q4 2010, Android's market share grew 615%. From a 9%

share of the global smartphone market and 5 million shipments to 33% market share and 33 million shipments. (Canalys)

Fast Facts!

•  Apple grew 86% in the same period. From 16% market share and 9 million shipments to 16% and 16 million. (Canalys)

•  Android averaged 11 million downloads per day vs. Apple averaged 17 million downloads per day. (KPCB)

•  Android OS has 47% of the U.S. smartphone market vs. 29% a year ago. (comScore & Nielsen’s chart on the right)

Fast Facts!

Android is for Apps and iPhone is for Games •  “A study done by Xylogic shows that of the top 25 app publishers for iOS, only one

does not produce games. On the flip side, of the top 25 for Android, only about half are game publishers.” (ReadWriteWeb)

Fast Facts!

Source: ReadWriteWeb

Rapid Growth of the Mobile Ad Market •  In the U.S., the mobile ad market doubled to $1.45 billion in 2011 and expected to

increase 80% to $2.61 billion in 2012. (eMarketer)

Fast Facts!

•  Mobile ad market is primarily driven by Google's mobile advertising division. (eMarketer)

•  Google has 51.7% of the U.S. mobile ad market, Apple has 18%, and Millennial Media has 17.7%. (eMarketer)

•  Search ads will remain the dominant form of mobile ads for years to come. (StrategyEye)

•  Some project higher overall market figures for mobile advertising and for Google Cowen is projecting $5.8 billion in mobile advertising revenue in 2012. (StrategyEye)

Mobile Predictions for 2012: The Post-PC Era

•  Wearable computing becomes the next mobile frontier. (Kevin Tofel, GigaOm)

•  Hybrid apps with HTML5 will be the norm. (Kevin Tofel, GigaOm)

•  LTE goes mainstream. (Roger Cheng, CNET)

•  Niche Apps Stores Will Consolidate. (Dan Rowinski, ReadWriteWeb)

•  Apple Will Remain No. 1 With Developers. (Dan Rowinski, ReadWriteWeb)

•  AT&T makes play for Dish Network. (Marguerite Reardon, CNET)

•  Verizon takes a bold step into video. (Marguerite Reardon, CNET)

•  RIM Finally Sells (Bernard moon, VentureBeat)

Predictions 2012!

Middle East •  Traditional Middle East countries are Bahrain, Cyprus, Egypt, Iran, Iraq, Israel,

Jordan, Kuwait, Lebanon, Oman, Gaza Strip (not fully sovereign), Palestinian Authority (not fully sovereign), Qatar, Saudi Arabia, Syria, Turkey, United Arab Emirates, and Yemen.

•  It is a region with over 378 million people and over 323 million mobile subscribers.

Greater Middle East •  Greater Middle East countries are Afghanistan, Algeria, Armenia, Azerbaijan,

Comoros, Djibouti, Eritrea, Georgia, Kazakhstan, Kyrgyzstan, Libya, Mauritania, Morocco, Pakistan, Somalia, Sudan, Tajikistan, Tunisia, Turkmenistan, Uzbekistan, and Western Sahara.

•  It is a region with over 411 million people and over 235 million mobile subscribers.

Overview of Middle East!

Africa •  Over 500 million mobile

subscribers, which rapidly grew from 246 million subscribers in 2008. (MobileMonday)

•  The four largest mobile phone markets are Nigeria, South Africa, Kenya and Ghana. (MobileMonday)

•  10.5 million Facebook users in Africa in 2010. (Socialbakers)

•  The Middle East and Africa will have the strongest mobile data traffic growth of any region at 129% CAGR. (Cisco)

Overview of Africa!

• Wireless Carriers

• Mobile Operating Systems

• Mobile Phone Manufacturer

• Wireless Applications

• Location-Based Services

• Other Companies of Interest

Primary Sectors!

FourSquare

Path

Wireless Carrier

Mobile OS

Mobile Phone Maker

Wireless Application

Location-Based

Other

INVESTMENT / M&A

ALLIANCE

Rovio

Meraki

EA

Deutsche Telekom

NTT DoCoMo Linux

KT

Sprint Nextel Telefonica

RIM

Softbank Mobile

Apple

Shopkick

Adobe

ARM

Vodafone

SK Telecom

Global Wireless Universe!

Samsung

Square

SpiderCloud

Loopt Tango

Seven Apple

Verizon HTC

ZTE

Nokia

China Mobile

AT&T

China Unicom

Android

LG

Motorola

Qualcomm

Twitter

Skyhook

RIM Microsoft

Orange

Select Companies:!Detailed Profiles!

Wireless Universe Snapshot!

•  HTC •  Nokia •  Palm/HP •  Pantech •  Sony Ericsson

AT&T Mobility Updated: Jan 2012

Category: Wireless Carrier

Headquarters: Atlanta, GA

URL address: www.wireless.att.com/

Company Background •  AT&T Mobility is a subsidiary of AT&T. It’s the 2nd largest wireless carrier

in the U.S. with 98.6 million subscribers. •  During early 2011, AT&T lost its exclusivity with Apple’s iPhone. •  They are the largest Wi-Fi provider with more than 125,000 hot spots

around the world (including company-owned and third-party roaming locations) — with the addition of approximately 7,000 Starbucks locations.

Alliances/Subsidiaries •  Microsoft •  Apple •  Blackberry •  Motorola •  Samsung •  LG

Financial Information •  Market Cap: $180.1 billion (AT&T) •  Enterprise Value: $240.6 billion •  2010 Revenues: $124.3 billion •  2010 Net Income: $19.7 billion •  2010 Profit Margin: 15.84% •  P/E Ratio: 15.42 •  Ticker Symbol: T

Countries of Operation •  USA

Major Shareholders •  Evercore Trust Company (4.02%) •  Vanguard Group (3.91%) •  Capital Research Global Investors (3.80%) •  State Street Corp (3.77%) •  BlackRock Institutional Trust Company (2.48%) •  Wellington Management (1.69%) •  Bank of New York Mellon (1.60%)

No. of employees: 70,000

Key Management •  Ralph de la Vega, CEO of

AT&T Mobility & Consumer Markets and Pres of Mobility & Consumer Markets

•  Randall L. Stephenson , Chairman, CEO, Pres and Chairman of Exec Committee

Wireless Carriers!

•  Bangladesh •  Burkina Faso •  Chad •  Gabon •  Ghana •  India •  Kenya •  Madagascar

•  Infosys •  Huawei •  IBM •  Al-Catel Lucent

Bharti Airtel Updated: Mar 2012


Headquarters: New Delhi, India

URL address: www.airtel.in

Company Background •  Bharti Airtel is a leading global communications company offering mobile

voice & data services, fixed line services, high speed broadband, IPTV, DTH, turnkey telecom solutions for enterprises and national & international long distance services to carriers. (company website)

•  Bharti Airtel is the seventh largest telecom operator in the world (and the largest wireless provider in India) with over 200 million customers and operations in 19 countries.

•  Bharti Airtel has been ranked among the six best performing technology companies in the world by Business Week.

Alliances/Subsidiaries •  Airtel Africa •  Airtel Digital TV •  Bharti Airtel Lanka •  Airtel Bangla •  Ericsson •  Nokia Siemens Networks

Financial Information •  Market Cap: $26.9 billion •  Enterprise Value: $37.3 billion •  2011 Revenues: $12.0 billion •  2011 Net Income: $1.2 billion •  2011 Profit Margin: 10.17% •  P/E Ratio: 28.57 •  Ticker Symbol: BHARTIARTL

Countries of Operation Major Shareholders •  Bharti Telecom Limited (45.5%) •  Pastel Limited (15.57%) •  Indian Continent Investment Limited (7%) •  Life Insurance Corporation of India (5%) •  J.P. Morgan (1.2%) •  ICICI Prudential Life Insurance Company Limited (1.09%) •  Aberdeen (1.09%)


Key Management •  Sunil Bharti Mittal, Founder,

Chairman & Managing Director

•  Manoj Kohli, CEO & Joint Managing Director

•  Sanjay Kapoor, CEO (India & South Asia)

Wireless Carriers!

•  Malawi •  Niger •  Nigeria •  Rwanda •  Seychelles •  Sierra Leone •  Sri Lanka •  Tanzania

•  Uganda •  Zambia •  Channel Islands

China Mobile Category: Wireless Carrier

Headquarters: Hong Kong

URL address: www.chinamobileltd.com

Company Background •  China Mobile is the world’s largest wireless provider with more than

644.3 million subscribers. They provide mobile communications and related services primarily to Mainland China.

•  It is the state-owned enterprise but publicly listed on the NYSE and Hong Kong stock exchanges. China Mobile has 69.3% of the mainland China mobile market.

•  Their three primary services are: Easyown (prepaid service), GoTone (flagship service) and M-zone (premium prepaid service).

•  The company also offers agricultural information services; telecommunications network planning and consulting services; technology platform development and maintenance services; and mobile data solutions, and system integration and development services,

Alliances/Subsidiaries •  Android

Financial Information •  Market Cap: $199.1 billion •  Enterprise Value: $151.6 billion •  2010 Revenues: $79.9 billion •  2010 Net Income: $19.5 billion •  2010 Profit Margin: 24.41% •  P/E Ratio: 10.35 •  Ticker Symbol: CHL

Countries of Operation •  China •  Hong Kong •  Pakistan

Major Shareholders •  Matthews International Capital (.12%) •  Wells Fargo (.12%) •  FMR LLC (.09%) •  ArrowStreet Capital(.08%) •  Dimensional Fund Advisors(.07%) •  Epoch Investment Partners (.07%)


Key Management •  Jianzhou Wang, Chairman, •  Li Yue, CEO & President •  Xu Long, Exec. Director,

Chairman & President of Guangdong Mobile

•  Mr. Taohai Xue, CFO, VP of China Mobile

Wireless Carriers!

Updated: Jan 2012

China Unicom Category: Wireless Carrier

Headquarters: Hong Kong

URL address: www.chinaunicom.com.hk

Company Background •  China Unicom is the 2nd largest wireless provider in China with over

153.6 million subscribers. Their GSM service covers 31 provinces, municipalities, and autonomous regions, and they have 47.2 million fixed-line broadband subscribers in 335 cities in China.

•  The company also offers broadband and other Internet-related services, information communications technology services, business and data communications services, and domestic and international long distance services.

•  China Unicom is the sole official iPhone distributor in China. •  The company gained market share after shifting its focus from the

iPhone to cheaper smartphones made by Huawei and ZTE since the majority of consumers cannot afford an iPhone. (Bloomberg News)

Alliances/Subsidiaries •  Android •  SK Telecom •  Telefonica •  PCCW •  Apple

Financial Information •  Market Cap: $44.4 billion •  Enterprise Value: $56.3 billion •  2010 Revenues: $31.7 billion •  2010 Net Income: $610.3 million •  2010 Profit Margin: 1.92% •  P/E Ratio: 72.42 •  Ticker Symbol: CHU

Countries of Operation •  China

Major Shareholders •  Telefonica (9.57%) •  Dimensional Fund Advisors (.54%) •  DFA Investment Dimensions (.30%) •  ArrowStreet Capital (.18%)


Key Management •  Xiaobing Chang, Chairman,

CEO, Chairman of the Unicom Group and President of the China Telecom Corp

•  Yimin Lu, President & Executive Director

•  Fushen Li, CFO & Executive Director

Wireless Carriers!

Updated: Jan 2012

•  Blackberry •  Garmin •  Dell •  HTC •  Nokia

Deutsche Telekom Category: Wireless Carrier

Headquarters: Bonn, Germany

URL address: www.telekom.com

Company Background •  T-Mobile is the wireless provider and subsidiary of Deutsche Telekom.

Deutsche Telekom is a leading integrated telecommunications companies, with approximately 129 million mobile customers and 36 million fixed-network lines.

•  T-Mobile USA is a subsidiary of Deutsche Telekom and the 4th largest wireless provider in the U.S. with 33.6 million subscribers and generates over $21.3 billion in revenues (2010). HQ in Bellevue, Washington.

•  In March 2011, Deutsche Telekom accepted a $39 billion stock and cash purchase offer from AT&T. AT&T’s acquisition would have created the largest wireless carrier in the U.S. Then in December 2011, AT&T announced that the company had officially withdrawn their bid due to pressure and resistance from the U.S. government. It agreed to pay T-Mobile a $4 billion breakup fee.

Alliances/Subsidiaries •  Everything Everywhere •  T-Mobile USA •  Android •  Motorola •  Samsung •  Sony Ericsson

Financial Information •  Market Cap: $38.1 billion (Deutsche Telekom) •  Enterprise Value: $83.34 billion •  2011 Revenues: $60.4 billion •  2011 Net Income: $1.23 billion •  2011 Profit Margin: 2.29% •  P/E Ratio: 27.90 •  Ticker Symbol: XETRA: DTEL.DE

Countries of Operation •  Germany •  UK •  USA •  Austria •  Croatia •  Czech Republic •  Hungary •  Netherlands

Major Shareholders •  Federal Republic of Germany (14.8%) •  KfW Bankengruppe (16.9%)


Key Management •  Rene Obermann, CEO •  Timotheus Hottges, CFO •  Olivier Baujard, CTO •  Thomas Sattelberger, Chief

HR Officer

Wireless Carriers!

Updated: Jan 2012

•  UAE •  Sri Lanka •  Indonesia •  Sudan •  Nigeria •  Pakistan •  Egypt •  Tanzania

•  Telefonica •  Nokia •  Samsung

Etisalat Updated: Mar 2012


Headquarters: Abu Dhabi, United Arab Emirates

URL address: www.etisalat.ae

Company Background •  Etisalat is one of the largest telecommunications companies in the

Middle East/North Africa region and one of the 20th largest wireless providers in the world. Etisalat primarily offers mobile, fixed-line voice and data services, TV services, and internet and roaming services. (company website)

•  In September of 2011 Etisalat launched its 4G LTE mobile network in the UAE, the first in the country and the biggest in the Middle East.

Alliances/Subsidiaries •  Mobily •  Etisalat Misr (Egypt) •  PTCL •  Zantel •  KT •  Huawei

Financial Information •  Market Cap: $20.3 billion •  Enterprise Value: $20.0 billion •  2010 Revenues: $8.7 billion •  2010 Net Income: $2.4 billion •  2010 Profit Margin: 27.73% •  P/E Ratio: 12.77 •  Ticker Symbol: ETISALAT

Countries of Operation Major Shareholders •  UAE Federal Government (60.03%)


Key Management •  Mohammad Hassan Omran,

Chairman & Managing Director

•  Nasser Bin Obood, Acting CEO

•  Khalaf Bin Ahmed Al Otaiba, Vice Chairman

Wireless Carriers!

•  Afghanistan •  Ivory Coast •  Saudi Arabia •  India

•  East Telecom (Uzbekistan) •  Apple •  UStream

KT Category: Wireless Carrier

Headquarters: Sungnam, South Korea

URL address: www.kt.com

Company Background •  KT, originally Korea Telecom, was the state-owned telecommunications

provider in South Korea. After spinning out its wireless division, KTF, it acquired it back in 2009, so both landline and wireless services are housed under KT.

•  KT is the exclusive distributor of Apple’s iPhone in Korea, which has experienced tremendous sales and has made it more competitive with the leading carrier in Korea, SK Telecom.

•  KT provides integrated telecommunications services. It offers telephone services, including local, domestic, and international long-distance fixed-line telephone services. As of Sept 2011, it served approximately 16 million mobile subscribers; approximately 7.6 million fixed broadband Internet subscribers; and approximately 2.5 million IPTV subscribers. (Yahoo! Finance)

Alliances/Subsidiaries •  MT (Mongolia) •  KT China •  NTC (Russia) •  KT JC (Japan) •  KTAI (USA)

Financial Information •  Market Cap: $6.9 billion •  Enterprise Value: $15.7 billion •  2011 Revenues: $19.7 billion •  2011 Net Income: $1.1 Billion •  2011 Profit Margin: 6.47% •  P/E Ratio: 6.60 •  Ticker Symbol: KT

Countries of Operation •  S. Korea •  Mongolia •  China •  Russia •  Japan •  USA •  Uzbekistan

Major Shareholders •  Silchester Partners Limited (5.89%) •  Tradewinds Global Investors (2.11%) •  Commonwealth Bank of Australia (1.72%) •  Franklin Resources (1.48%)


Key Management •  Suk-Chae Lee, CEO,

Chairman of Exec. Committee •  Sang-Hoon Lee, President,

Director and President of Enterprise Customer Group

•  Soo-Ho Maeng, CFO & Sr. Exec. VP of Global Business Unit

Wireless Carriers!

Updated: Jan 2012

•  Samsung •  Blackberry •  Sony Ericsson •  Umobile (Malaysia carrier) •  Tata Teleservices (6th in India /

26% ownership)

NTT DoCoMo Category: Wireless Carrier

Headquarters: Tokyo, Japan

URL address: www.nttdocomo.co.jp

Company Background •  NTT DoCoMo is the leading wireless provider in Japan with over 58

million subscribers and 50% market share. Its cutting-edge i-mode service was the leader and model for many in the world to follow in 1999 and the early 2000s. NTT DoCoMo also launched FOMA™, the world's first 3G commercial mobile service, in 2001 which was based on W-CDMA.

•  NTT DoCoMo is a subsidiary of NTT, which is the primary telecommunications company in Japan and 33.7% owned by the Japanese government.

•  The company and its subsidiaries provide wireless telecommunications services, packet communications services, and satellite mobile communications services in Japan.

Alliances/Subsidiaries •  Sharp (handset maker) •  Panasonic (handset maker) •  NEC Casio (handset maker) •  Fujitsu (handset maker) •  LG Electronics (handset maker) •  KT (JV for Umobile)

Financial Information •  Market Cap: $72.7 billion •  Enterprise Value: $67.3 billion •  2011 Revenues: $54.4 billion •  2011 Net Income: $5.7 billion •  2011 Profit Margin: 10.53% •  P/E Ratio: 12.70 •  Ticker Symbol: DCM

Countries of Operation •  Japan •  USA •  UK •  France •  Netherlands •  Germany •  China •  India

Major Shareholders •  NTT •  Scout Investments (.06%) •  UBS AG (.05%) •  Renaissance Technologies (.04%)


Key Management •  Ryuji Yamada, President and

CEO •  Kazuto Tsubouchi, CFO &

EVP •  Kiyoyuki Tsujimura, Senior

EVP (Multimedia Services & Technology)

Wireless Carriers!

Updated: Jan 2012

•  Blackberry •  Sony Ericsson •  Orange ISP (formerly

Wanadoo) •  Orange Armenia •  Orange Austria

Orange Category: Wireless Carrier

Headquarters: Arcueil, France

URL address: www.orange.com

Company Background •  Orange is the wireless and Internet subsidiaries of France Telecom.

Recently, France Telecom also adopted the “Orange” name across most of its services to be consistent with its branding. The company is the leading telecom and wireless provider in France and the 9th largest wireless providers in the world with over 162 million subscribers.

•  In 2009, France Telecom fixed line business was 18.5% of their revenues, mobile was 75.4%, and Internet was 6.1%.

•  In 2008, Orange gained the rights to sell Apple’s iPhone in Austria, Belgium, the Dominican Republic, Egypt, Jordan, Poland, Portugal, Romania, Slovakia, Switzerland and Orange's African markets.

•  Orange is the largest ISP in Europe and provides services in France, Spain, the United Kingdom, Kenya, Equatorial Guinea, Senegal, Guinea, Mali, Romania, Slovakia and Switzerland.

Alliances/Subsidiaries •  Apple •  Nokia •  Samsung •  Alcatel •  LG •  HTC

Financial Information •  Market Cap: $39.5 billion (France Telecom) •  Enterprise Value: $82.9 billion •  2011 Revenues: $60.9 billion •  2011 Net Income: $4.2 billion •  2011 Profit Margin 6.75% •  P/E Ratio: 9.67 •  Ticker Symbol: FTE

Countries of Operation •  France •  Austria •  Cameroon •  Israel •  Kenya •  Spain •  Uganda

Major Shareholders •  France Telecom •  Brandes Investment Partners (.34%) •  Allianz Global Investors of America (.21%) •  Macquarie Group Limited (.16%)

No. of employees: 169,849 (France Telecom)

Key Management •  Stephane Richard, Chairman

& CEO •  Gervais Pellissier, CFO,

Deputy CEO, Chairman of Claims Committee

•  Marc Rennard , Exec. VP, Head of Operations - Africa Middle-East & Asia

Wireless Carriers!

Updated: Jan 2012

•  Algeria •  Bahrain •  France •  Indonesia •  Iraq •  Jordan •  Kuwait •  Lebanon

•  Skype

Qtel Updated: Mar 2012


Headquarters: Doha, Qatar

URL address: www.qtel.qa

Company Background •  Qatar Telecom (Qtel) offers consumer mobile, broadband, and corporate

managed services to customers across the Middle East, North Africa, the Indian Subcontinent, and Southeast Asia. (company website)

•  Qtel has a presence in 17 countries and provides coverage to a population of 560 million people, with 57.5 million consolidated subscribers.

•  Qtel was once the exclusive telecommunications provider in Qatar and is one of the largest public companies based in Qatar.

•  In 2008 Qtel signed a major deal with Nokia Siemens Networks to provide its subscribers with state-of-the-art Digital Video Broadcasting Handheld (DVB-H) technology.

Alliances/Subsidiaries •  NavLink •  Indosat •  Wi-tribe •  Wataniya •  Nokia •  ZTE Corporation

Financial Information •  Market Cap: $7.9 billion •  Enterprise Value: $20.2 billion •  2010 Revenues: $7.5 billion •  2010 Net Income: $1.1 billion •  2010 Profit Margin: 15.00% •  P/E Ratio: 11.80 •  Ticker Symbol: QTEL

Countries of Operation Major Shareholders •  Government of Qatar (55%) •  Abu Dhabi Investment Authority (9.99%)


Key Management •  Abdullah Bin Mohammed Bin

Saud Al Thani, Chairman •  Nasser Marafih, CEO (Qtel

Group) •  Saud Bin Nasser Al Thani,

CEO (Qtel-Qatar) •  Waleed Al-Sayed, COO

Wireless Carriers!

•  Maldives •  Oman •  Pakistan •  Palestine •  The Philippines •  Qatar •  Saudi Arabia •  Singapore

•  The UAE

•  Motorola •  Samsung •  LG •  Orange •  Telecom Italia

SK Telecom Category: Wireless Carrier

Headquarters: Seoul, South Korea

URL address: www.sktelecom.com

Company Background •  SK Telecom is the leading wireless provider in South Korea with 26

million subscribers and over 50% market share. SK Telecom was the first in the world to commercialize 3G and then HSDPA (2006), or 3.5G, and now 4G.

•  Their primary services are: NATE, a wired and wireless portal service; JUNE, a premium multimedia streaming service (i.e. video, real-time TV); MELON, mobile music portal; GXG, game portal service.

•  They also operate 11th Street, an online shopping mall, and T Store, an online open marketplace for mobile applications.

•  In 2008, SKT launched a JV with Citibank called Mobile Money Ventures, which provides mobile financial service solutions globally.

Alliances/Subsidiaries •  Android •  China Unicom •  Citibank •  Helio (acquired) •  SK Communications (CyWorld)

Financial Information •  Market Cap: $8.7 billion •  Enterprise Value: $11.5 billion •  2011 Revenues: $14.2 billion •  2011 Net Income: $1.4 billion •  2011 Profit Margin 9.93% •  P/E Ratio: 6.13 •  Ticker Symbol: SKM

Countries of Operation •  South Korea •  USA •  China •  Hong Kong •  Singapore •  Philippines •  Malaysia

Major Shareholders •  Citibank ADR (26.89%) •  SK Corp (25.22%) •  [Korea] National Pension Corp (3.59%) •  POSCO (2.9%) •  Brasso Capital Management (15.93%) •  Tradewinds Global Investors (6.61%) •  Brandes Investment Partners (2.03%)

No. of employees: unknown

Key Management •  Sung Min Ha, CEO &

President •  Jae Won Chey, Chairman,

CEO of SK Holdings, CEO of SK Gas

•  Dong-Hyun Jang, CFO

Wireless Carriers!

Updated: Jan 2012

•  IBM •  Northrop Grumman •  HTC •  LG •  Sanyo

Sprint Nextel Category: Wireless Carrier

Headquarters: Overland Park, KS

URL address: www.sprint.com

Company Background •  Sprint Nextel is the 3rd largest wireless provider in the U.S. with 55

million subscribers. Sprint launched the first 4G service in the U.S. using Clearwire’s WiMAX technology.

•  Sprint owns 56% in Clearwire, who built out the 4G network for Sprint. •  Boost Mobile is a brand of Sprint Nextel under its Prepaid Group, and

has over 5 million subscribers. They additional have the Virgin Mobile and Assurance Wireless brands under this group.

•  Sprint Nextel provides wireless services on networks that utilize CDMA, iDEN (from Nextel acquisition), and 4G (WiMAX) technologies. The other major U.S. wireless carrier that uses CDMA technology is Verizon Wireless.

Alliances/Subsidiaries •  RadioShack •  Boost Mobile •  Alcatel Lucent •  Cisco •  HP •  Samsung

Financial Information •  Market Cap: $6.9 billion •  Enterprise Value: $21.5 billion •  2011 Revenues: $33.7 billion •  2011 Net Income: ($2.9) billion •  2011 Profit Margin (8.58) •  P/E Ratio: N/A •  Ticker Symbol: S


Major Shareholders •  Dodge & Cox (7.60%) •  Bank of New York Mellon (5.10%) •  Dodge & Cox Stock Fund (4.54%) •  Goldman Sachs Group (4.30%) •  State Street Corp (4.05%) •  Franklin Resources (3.97%) •  Vanguard Group (3.90%)


Key Management •  Dan Hesse, Chairman, CEO &

President •  Joseph Euteneuer, CFO •  Keith O. Cowan, President of

Strategic Planning & Corp Initiatives

•  Robert Johnson, Chief Service & Information Tech Officer

Wireless Carriers!

Updated: Jan 2012

•  Panasonic (handset maker) •  Nokia •  HTC •  Samsung •  ZTE •  Zynga

Softbank Mobile Category: Wireless Carrier

Headquarters: Tokyo, Japan

URL address: www.softbankmobile.co.jp

Company Background •  Softbank Mobile is a subsidiary of Softbank Corp, which is the holding

company of Masayoshi Son. It is the 3rd largest wireless provider in Japan with 28.1 million subscribers.

•  In 2006, Vodafone sold Vodafone Japan (Vodafone KK) to SoftBank for 1.75 trillion yen (approx US$15.1 billion).

•  Softbank Mobile was the exclusive distributor of Apple’s iPhone in Japan, which allowed it to capture 72% of the smartphone market (BusinessWeek, April 22, 2010). However, Android rapidly rose and captured 57% of the smartphone market by May 2011 and then 80% by year’s end.

•  Softbank Corp’s market cap is $25.4 billion with revenues of $40 billion and a profit margin of 9.44%.

Alliances/Subsidiaries •  Apple •  Android •  Casio (handset maker) •  Toshiba (handset maker) •  Sharp (handset maker) •  NEC (handset maker)

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2010 Revenues: $19.9 billion •  2010 Net Income: (latest available is 2005) •  2010 Profit Margin: (latest available is 2005) •  P/E Ratio: N/A •  Ticker Symbol:

Countries of Operation •  Japan

Major Shareholders •  Softbank Corp


Key Management •  Masayoshi Son, Chairman &

CEO •  Ken Miyauchi, Senior EVP &

COO •  Kazuhiko Fujihara, SVP,

Director & CFO

Wireless Carriers!

Updated: Jan 2012

•  Saudi Arabia •  Bahrain •  Kuwait •  Indonesia •  UAE •  Malaysia •  India •  Turkey

•  Apple •  Sify •  Ericsson •  Huawei •  Nokia Siemens Networks

STC Updated: Mar 2012


Headquarters: Riyadh, Saudi Arabia

URL address: www.stc.com.sa

Company Background •  The Saudi Telecommunication Group (STC) provides integrated mobile,

fixed and broadband communications services to over 142 million subscribers in 10 markets. It is the leading provider of telecommunication services in Saudi Arabia. (company website)

•  STC was one of the first companies to launch a 4G LTE network in the Middle East in September 2011. It was the first company to launch a 3G network in the region in 2006.

•  STC was also the first operator in the Middle East to launch a mobile broadband network with speeds up to 42 Mbps.

Alliances/Subsidiaries •  Kuwait Telecom Company •  Oger Telecom •  Samsung •  Google •  RIM •  Acer

Financial Information •  Market Cap: $20.4 billion •  Enterprise Value: $27.8 billion •  2011 Revenues: $14.9 billion •  2011 Net Income: $2.1 billion •  2011 Profit Margin: 13.68% •  P/E Ratio: 9.96 •  Ticker Symbol: STC

Countries of Operation Major Shareholders •  The Public Investment Fund - Saudi Arabia (70%) •  General Organization for Social Insurance (6.9%) •  The Public Pension Agency - Saudi Arabia(6.6%)


Key Management •  Mohammad Bin Suliman Al

Jasser, Chairman •  Saud Bin Majid Al Daweesh,

CEO (Saudi Telecom) •  Ghassan Hasbani, CEO

(International Operations)

Wireless Carriers!

•  South Africa

•  ZON Multimedia (5.4%) •  Hispasat (13.2%)

Telefonica Category: Wireless Carrier

Headquarters: Madrid, Spain

URL address: www.telefonica.com

Company Background •  Telefonica is the leading wireless provider in Spain and the 5th largest in

the world with 227 million subscribers worldwide. Overall, they have 299 million customers across all business lines and around the globe.

•  The company operates in 25 countries with its strongest presence in Europe and Latin America. More than 60% of its business is outside of Spain. In Latin America, it services more than 194 million customers.

•  Additionally, they have 40 million fixed telephony, 15 million Internet, and 2.5 million pay TV subscribers. Movistar is their flagship brand for landline and wireless services in Spain and Latin America. O2 is their brand for similar services in the UK, Germany, Ireland, Czech Republic, and Slovakia. Terra is their brand for interactive services and online content for Spain and Latin America.

•  In 2005, O2 was acquired by Telefonica for GBP17.7 billion (approx. US$27.1 billion). Currently O2 UK has 18.4 million subscribers.

Alliances/Subsidiaries •  O2 •  Terra •  China Unicom (9.6%) •  Atento Group (100%) •  Telco SpA (46.2%) •  Portugal Telecom (2%)

Financial Information •  Market Cap: $77.7 billion •  Enterprise Value: $150.7 billion •  2011 Revenues: $79.9 billion •  2011 Net Income: $5.34 billion •  2011 Profit Margin: 6.68% •  P/E Ratio: 14.52 •  Ticker Symbol: TEF

•  Spain •  Colombia •  Ecuador •  El Salvador •  Guatemala •  Mexico •  Nicaragua •  Panama

Major Shareholders •  Banco Bilbao Vizcaya Argentaria (6.28%) •  Caixa d'Estalvis i Pensions de Barcelona ("La Caixa") (5.05%) •  Blackrock (3.88%) •  Loomis Sayles (.53%) •  Franklin Resources (.33%) •  Vanguard International (.29%)


Key Management •  César Alierta Izuel, Executive

Chairman & CEO •  Julio Linares Lopez, COO •  Jose Maria Alvarez-Pallete

Lopez, Executive Director, Chairman of Telefónica Latinoamérica and CEO of Telefonica Europe

•  Argentina •  Brazil •  Chile •  UK •  Ireland •  Germany •  Czech Republic •  Italy

Countries of Operation

Wireless Carriers!

Updated: Jan 2012

•  Samsung •  Blackberry •  LG •  General Motors •  Claro (Puerto Rico)

Verizon Category: Wireless Carrier

Headquarters: Basking Ridge, NJ

URL address: www.verizonwireless.com

Company Background •  Verizon Wireless is a joint venture between Verizon Communications

(55%) and Vodafone Group (45%). This is the leading wireless provider in the U.S. with 108.7 million subscribers (end of 2011).

•  Verizon Communications operates in two segments, Wireline and Domestic Wireless. The Wireline segment provides voice, Internet access, broadband video and data, next generation Internet protocol (IP) network services, network access, and long distance services to consumers, carriers, businesses, and government customers. (Yahoo! Finance)

•  In 2009, Verizon Wireless acquired Alltel Wireless for $28.1 billion. This allowed Verizon Wireless to become the largest wireless provider in the U.S. in terms of subscribers.

•  The company is one of two major wireless carriers utilizing CDMA technology. The other is Sprint Nextel.

Alliances/Subsidiaries •  Verizon Wireless •  Vodafone •  Android •  Motorola •  HTC •  HP/Palm

Financial Information •  Market Cap: $109.0 billion (Verizon Communications) •  Enterprise Value: $150.2 billion •  2011 Revenues: $110.9 billion •  2011 Net Income: $2.40 billion •  2011 Profit Margin: 2.17% •  P/E Ratio: 45.25 •  Ticker Symbol: VZ

Countries of Operation •  USA •  Puerto Rico

Major Shareholders •  Capital World Investors (4.36%) •  Vanguard Group (3.95%) •  State Street Corp (3.88%) •  Capital Research Global Investors (2.54%) •  BlackRock Institutional Trust Company (2.52%)


Key Management •  Lowell C. McAdam, Chairman

& CEO of Verizon Comm •  Daniel Mead, EVP & CEO of

Verizon Wireless •  Andrew Davies, CFO •  Marni Walden, COO

Wireless Carriers!

Updated: Jan 2012

•  Safaricom (Kenya) •  NTT DoCoMo (Japan) •  Chunghwa Telecom (Taiwan) •  Almadar (Libya) •  Android

Vodafone Category: Wireless Carrier

Headquarters: Newbury, UK

URL address: www.vodafone.com

Company Background •  Vodafone is the 3rd largest wireless provider in the world with over 370

million subscribers. In its home market, the UK, Vodafone is the 3rd largest carrier.

•  The company has operations in 30 countries and partner networks in another 40 countries. Vodafone’s strongest presence is in Europe, Asia Pacific, Africa, the Middle East and the U.S.

Alliances/Subsidiaries •  Verizon Wireless (45%) •  SFR (France) •  MTS (Russia) •  China Mobile •  Airtel •  KT (Korea Telecom)

Financial Information •  Market Cap: $142.1 billion •  Enterprise Value: $187.0 billion •  2011 Revenues: $74.1 billion •  2011 Net Income: $11.3 billion •  2011 Profit Margin: 15.18% •  P/E Ratio: 12.81 •  Ticker Symbol: VOD

Countries of Operation •  UK •  USA •  Germany •  Greece •  Hungary •  Italy •  Netherlands •  Spain

Major Shareholders •  Bank of New York Mellon (17%) •  Black Rock (6%) •  Legal & General Group (3.59%) •  FMR LLC (.91%) •  Dodge & Cox (.74%) •  Invesco Ltd. (.62%) •  Institutional Capital Corporation (.54%) •  Barrow, Hanley Mewhinney & Strauss (.44%)


Key Management •  Vittorio Colao, CEO •  Andrew Halford, CFO •  Stephen Charles Pusey, CTO •  Michel Combes, Chief Exec.

of Europe Region Operations •  Alan Harper BA, Chairman of

Vodafone UK Foundation

•  Czech Republic •  Romania •  Turkey •  Australia •  India •  New Zealand •  China •  Egypt

Wireless Carriers!

Updated: Jan 2012

•  NEC •  Kyocera •  ZTE •  Nuance •  ARM •  Qualcomm

Android Category: Mobile OS

Headquarters: Mountain View, CA

URL address: www.android.com

Company Background •  Android is Google’s Linux-based mobile operating system, which

includes middleware and key applications. Original Android, Inc, it was acquired by Google in July, 2005. The co-founders were Andy Rubin (co-founder of Danger), Rich Miner (co-founder of Wildfire Communications), Nick Sears and Chris White.

•  Android’s vision and plans were revealed in late 2007 with the announcement of the Open Handset Alliance, which was a consortium of 71 hardware, software and telecom companies seeking to accelerate mobile innovation. Android was its foundation as the first complete, open and free mobile platform. Google released the Android code under the Apache License, which is an open source license.

Alliances/Subsidiaries •  Open Handset Alliance •  HTC •  Motorola •  Samsung •  Dell Garmin •  Haier

Financial Information •  Market Cap: $196.6 billion (Google) •  Enterprise Value: $159.5 billion •  2011 Revenues: $37.9 billion •  2011 Net Income: $9.74 billion •  2011 Profit Margin: 25.69% •  P/E Ratio: 20.32 •  Ticker Symbol: GOOG

Countries of Operation •  USA •  Japan •  South Korea •  China •  UK •  Spain •  Germany •  France

Major Shareholders •  FMR LLC (7.07%) •  Vanguard Group (3.93%) •  Price (T.Rowe) Associates (3.75%) •  State Street Corporation (3.59%) •  BlackRock Institutional Trust (2.63%)

No. of employees: approximately 500 / 32,467 (Google)

Key Management •  Eric E. Schmidt, Executive

Chairman •  Dr. Larry Page, Co-Founder,

CEO •  Sergey Brin, Co-Founder •  Andy Rubin, SVP of Mobile

Mobile Operating Systems!

Updated: Jan 2012

Apple Category: Mobile OS

Headquarters: Cupertino, CA

URL address: www.apple.com

Company Background •  Apple is a leading consumer electronics, PC and mobile smartphone

manufacturer. The company's best-known products include the Macintosh computers, the iPod, Apple TV, the iPhone and the iPad. They also operate 357 retail stores in over 10 countries.

•  Apple's strength is in its design and creating cool, cutting products. Steve Jobs, their former CEO, has famously stated they don't use focus groups for their products because they know what consumers want.

•  iOS is Apple's mobile operating system that was developed for iPhone and now used in iPad. This operating system and related user-interface (UI) is elegantly designed. The iOS/iPhone's App Store is a revolution in mobile services since the iPhone SDK has allowed numerous companies and individuals to create new mobile applications that were not possible or ideal in previous mobile environments.

Alliances/Subsidiaries •  FileMaker •  AT&T •  Verizon •  Foxconn Technology Group

Financial Information •  Market Cap: $468.2 billion •  Enterprise Value: $438.0 billion •  2011 Revenues: $127.9 billion •  2011 Net Income: $32.9 billion •  2011 Profit Margin: 25.80% •  P/E Ratio: 14.29 •  Ticker Symbol: AAPL

Countries of Operation •  USA •  China •  UK •  Australia •  New Zealand •  Japan •  Germany •  France

Major Shareholders •  FMR LLC (5.43%) •  Vanguard Group (3.99%) •  State Street Corporation (3.73%) •  BlackRock Institutional Trust (2.71%) •  Price (T.Rowe) Associates (2.59%) •  Capital World Investors (1.68%)


Key Management •  Timothy Cook, CEO •  Peter Oppenheimer, CFO &

SVP •  Ronald Johnson, SVP of

Retail •  Scott Forstall, SVP of iOS

Software


Updated: Jan 2012

•  AMD •  Cisco •  Google •  HP •  Motorola •  Nokia

Linux Category: Mobile OS

Headquarters: San Francisco, CA

URL address: www.linux.com

Company Background •  In 1991, Linus Torvalds wrote the Linux kernel that spawned the

development of the Linux operating system. Linux was an excellent example of the power of collaboration within open source software.

•  In 2007, the Linux Foundation was created to sponsor the work of Linus Torvalds and add need infrastructure into the Linux community.

•  Linux became an alternative to Symbian, Windows CE and others for mobile devices since it was inexpensive and flexible enough to allow customization. In 2006, 16.7% of smartphones in the world were using Linux.

•  In 2009, Linux had 5% of the overall mobile operating system market (Gartner). By 2011, it is less than 1%.

Members •  Fujitsu •  Hitachi •  IBM •  Intel •  NEC •  Oracle

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2009 Revenues: N/A •  2009 Net Income: N/A •  2009 Profit Margin: N/A •  P/E Ratio: N/A •  Ticker Symbol: N/A

Countries of Operation •  USA •  UK •  China •  Japan •  France •  Germany •  Brazil •  Finland

Major Shareholders •  N/A

No. of employees: n/a

Key Management •  John Zeglis, Chairman and

CEO •  Michael Keith, EVP •  Mohan Gyani, President &

CEO, Wireless Services


Updated: Jan 2012

Microsoft Category: Mobile OS

Headquarters: Redmond, WA

URL address: www.microsoft.com

Company Background •  Microsoft Corporation provides software and hardware products and

solutions worldwide. The Client segment offers Windows 7/Vista comprising Home Basic, Home Premium, Enterprise, and Starter editions; and Windows XP, including Professional, Home, Media Center, and Tablet PC editions. The Server and Tools segment develops software server products and solutions consisting of Microsoft SQL Server, Visual Studio, Biz Talk Server, and others. The Online Services Business segment provides online advertising platform; online information offerings; and email and instant messaging services.

•  Microsoft’s mobile OS is Windows Phone, which is the successor to Windows Mobile. By the end of 2011, Microsoft had 1.9% of the mobile smartphone OS market, but this included Windows Mobile.

•  The primary partnership for Windows Phone is with Nokia, which announced that Microsoft’s platform would be its OS for all of their smartphones.

Alliances/Subsidiaries •  HTC •  Samsung •  LG •  Dell •  Nokia

Financial Information •  Market Cap: $262.1 billion •  Enterprise Value: $224.3 billion •  2011 Revenues: $72.1 billion •  2011 Net Income: $23.5 billion •  2011 Profit Margin: 32.57% •  P/E Ratio: 11.33 •  Ticker Symbol: MSFT

Countries of Operation •  USA •  UK •  China •  Japan •  Germany •  Brazil •  Spain •  Russia

Major Shareholders •  Vanguard Group (3.65%) •  State Street Corporation (3.54%) •  Capital Research Global Investors (2.63%) •  BlackRock Institutional Trust (2.39%) •  Invesco Ltd. (1.88%) •  Bank of New York Mellon Corporation (1.50%)


Key Management •  Steven A. Ballmer, CEO •  B. Kevin Turner, COO •  Peter Klein, CFO •  Steven Sinofsky, President of

Windows & Windows Live •  Kurt DelBene, President of

Microsoft Office


Updated: Jan 2012

•  Vodafone •  Airtel •  T-Mobile •  China Mobile •  Telefonica •  SK Telecom

RIM Category: Mobile OS

Headquarters: Waterloo, Ontario, Canada

URL address: www.rim.com

Company Background •  Research In Motion Limited (RIM) is a Canadian wireless device and

telecommunications company that created the BlackBerry smartphone. Initially starting out as a pager company, RIM's BlackBerry product started its stranglehold on the enterprise market in the early 2000s with its ability to quickly send and receive emails. This earned the nickname "CrackBerry” from corporate users across North America and than the globe.

•  Over 50 million BlackBerry phones have been sold, which makes it the second best selling smartphone.

•  On January 22, 2012 RIM announced that Co-CEOs Jim Balsillie and Mike Lazaridis have stepped down as CEOs and announced the new CEO to be Thorsten Heins. The stock price dropped over 75% during 2011 because of the continued missteps by the management team.

Alliances/Subsidiaries •  eBay •  Tata Indicom •  China Telecom •  Alcatel-Lucent •  Orange •  IBM

Financial Information •  Market Cap: $7.7 billion •  Enterprise Value: $6.5 billion •  2011 Revenues: $19.8 billion •  2011 Net Income: $2.22 billion •  2011 Profit Margin: 11.23% •  P/E Ratio: 3.55 •  Ticker Symbol: RIMM

Countries of Operation •  Canada •  USA •  UK •  France •  Germany •  Japan •  South Korea •  China

Major Shareholders •  Primecap Management (5.42%) •  Fairfax Financial Holdings (2.44%) •  Manufacturers Life Insurance (2.09%) •  Vanguard/Primecap Fund (1.99%) •  Invesco Ltd. (1.90%)


Key Management •  Mike Lazaridis, Founder, Vice

Chairman •  Thorsten Gerhard Heins, CEO

& President •  Brian Bidulka, CFO •  James Rowan, COO


Updated: Jan 2012

Apple

Company Background Alliances/Subsidiaries

Financial Information

Countries of Operation Major Shareholders Key Management

Mobile Phone Makers!

Updated: Jan 2012

Category: Mobile OS

Headquarters: Cupertino, CA

URL address: www.apple.com

•  Apple is a leading consumer electronics, PC and mobile smartphone manufacturer. The company's best-known products include the Macintosh computers, the iPod, Apple TV, the iPhone and the iPad. They also operate 357 retail stores in over 10 countries.

•  iOS is Apple's mobile operating system that was developed for iPhone and now used in iPad. This operating system and related user-interface (UI) is elegantly designed.

•  Apple’s 5th generation iPhone, the iPhone 4S, was announced on October 4, 2011 and helped drive Apple’s revenue and profits to record heights. One of the unique features was Siri, an intelligent personal assistant, which interacts with and helps users by voice commands.

•  FileMaker •  AT&T

Verizon •  Foxconn Technology Group

•  Market Cap: $468.2 billion •  Enterprise Value: $438.0 billion •  2011 Revenues: $127.9 billion •  2011 Net Income: $32.9 billion •  2011 Profit Margin: 25.80% •  P/E Ratio: 14.29 •  Ticker Symbol: AAPL

•  USA •  China •  UK •  Australia •  New Zealand •  Japan •  Germany •  France

•  FMR LLC (5.43%) •  Vanguard Group (3.99%) •  State Street Corporation (3.73%) •  BlackRock Institutional Trust (2.71%) •  Price (T.Rowe) Associates (2.59%) •  Capital World Investors (1.68%)


•  Timothy Cook, CEO •  Peter Oppenheimer, CFO &

SVP •  Ronald Johnson, SVP of

Retail •  Scott Forstall, SVP of iOS

Software

•  Android •  Beats Electronics •  S3 Graphics •  Dashwire •  Zoodles •  Saffron Digital

HTC Category: Mobile Phone Maker

Headquarters: Taoyuan City, Taiwan

URL address: www.htc.com

Company Background •  In 1997, Cher Wang and Peter Chou founded HTC as a notebook

computer manufacturer. They shifted towards hand-held PCs and smartphones within a few years. In 2009, they shipped out 11.71 million units with 3G wireless handsets accounting for 95% of total units shipped.

•  HTC was the first mobile manufacturer for Microsoft's Pocket PC, a Microsoft powered smartphone, Microsoft 3G phone, and the first Android-based mobile phone. In June 2009, they launched the HTC Evo 4G, the first 4G mobile phone in the U.S.

•  In March 2010, Apple claimed that HTC infringed upon 20 its patents covering aspects of the iPhone user interface and hardware. HTC countered by claiming Apple infringed on 5 of its patents. Also in a probable defensive measure against Apple, HTC signed a broad patent agreement with Microsoft for various patents related to mobile technology. They will be paying royalty fees to Microsoft.

Alliances/Subsidiaries •  Microsoft •  T-Mobile •  Orange •  Telefonica •  Vodafone •  Verizon

Financial Information •  Market Cap: unknown •  Enterprise Value: unknown •  2011 Revenues: $15.8 billion •  2011 Net Income: $2.1 billion •  2011 Profit Margin: 13.29% •  P/E Ratio: unknown •  Ticker Symbol: 2498.TW

Countries of Operation •  USA •  Canada •  Taiwan •  China •  Japan •  Singapore •  UK •  Germany

Major Shareholders •  Way-Chih Investment Co. (5.14%) •  Way-Lien Technology (4.78%) •  Euro Pacific Growth Fund (3.08%) •  Hon-Mou Investment Co. (2.86%)


Key Management •  Cher Wang, Chairman •  Peter Chou, CEO & President •  Fred Liu, COO •  Hui-Ming Cheng, CFO


Updated: Jan 2012

•  MaxDome •  SkyLife •  Hitachi •  Microsoft •  Intel •  Android

LG Electronics Category: Mobile Phone Maker

Headquarters: Seoul, Korea

URL address: www.lg.com

Company Background •  LG Electronics is global leader in consumer electronics, mobile

communications and home appliances. It is the 2nd largest manufacturer of LCD TVs and the 3rd largest of mobile phones.

•  In 2009, LGE sold over 117 million handsets worldwide. •  LGE's four primary business units are: Home Entertainment, Mobile

Communications, Home Appliance, and Air Conditioning & Energy Solution.

Alliances/Subsidiaries •  Qualcomm •  Schneider •  GE •  Viking •  Skype •  Microsoft

Financial Information •  Market Cap: $11.9 billion •  Enterprise Value: unknown •  2011 Revenues: $48.2 billion •  2011 Net Income: $1.1 billion •  2011 Profit Margin: 2.28% •  P/E Ratio: unknown •  Ticker Symbol: LSE: LGLD

Countries of Operation •  South Korea •  USA •  Japan •  China •  UK •  France •  India •  Germany

Major Shareholders •  LG Corp. (31%) •  Foreign investors (27%) •  Domestic investors (42%)


Key Management •  Bon-joon Koo, Vice Chairman

& CEO •  Havis Kwon, EVP & CEO of

Home Entertainment •  Jong-Seok Park, EVP & CEO

of Mobile Communications •  Young-Ha Lee, President &

CEO of Home Appliance


Updated: Jan 2012

Motorola Category: Mobile Phone Maker

Headquarters: Libertyville, IL

URL address: www.motorola.com

Company Background •  Motorola Mobility Holdings, Inc. (NYSE: MMI)—formerly the Mobile

Devices division of Motorola Inc. until January 2011. Motorola's networks division (called the Personal Communication Section (PCS), prior to 2004) pioneered the "flip phone" with the StarTAC in the mid-1990s. Motorola had a commanding lead in the analog cellphone market, but it was slow to embrace digital technology. (directly from Wikipedia)

•  Its global competitiveness declined from 18.4% market share in 2007 to 9.7% by 2008. By 2010, Motorola's global market share had dropped to seventh place, leading to speculation of bankruptcy of the company. (directly from Wikipedia)

•  On August 15, 2011, Google announced that it had agreed to acquire the company for US$12.5 billion. The acquisition included a sizeable portfolio of patents owned by Motorola. On February 13, 2012 Google received final approval from the United States Department of Justice and the EU. (directly from Wikipedia)

Alliances/Subsidiaries •  Google •  Android •  Verizon

Financial Information •  Market Cap: $11.9 billion •  Enterprise Value: $8.6 billion •  2011 Revenues: $13.1 billion •  2011 Net Income: ($249 million) •  2011 Profit Margin: (1.91%) •  P/E Ratio: N/A •  Ticker Symbol: MOT

Countries of Operation •  USA •  Canada •  South Korea •  China •  India •  UK •  France •  Germany

Major Shareholders •  Carl Icahn (10.08%) •  Vanguard Group (9.89%) •  Farallon Capital Management (3.95%) •  Paulson & Company (3.67%) •  State Street Corporation (3.26%) •  Taconic Capital Advisors (2.84%)


Key Management •  Dr. Sanjay K Jha, Chairman &

CEO •  Marc Rothman, CFO & SVP •  Geoffrey Roman, CTO & SVP •  Scott Crum, Chief People

Officer & SVP •  Daniel Moloney, President of

Motorola Mobility


Updated: Jan 2012

Nokia Category: Mobile Phone Maker

Headquarters: Espoo, Finland

URL address: www.nokia.com

Company Background •  Nokia is the largest mobile phone manufacturer in the world with over

one billion mobile phones sold. It is also the largest Finnish company and accounts for a significant portion of their economy.

•  Nokia was one of the primary developers of GSM (Global System for Mobile Communications), which was a second-generation mobile technology that could carry voice and data traffic.

•  Nokia also provides Internet, digital mapping, and navigation services worldwide. Its NAVTEQ group provides various digital map information and location-based content services.

•  In February 2011, Nokia announced its partnership with Microsoft to utilize their Windows Phone OS in all of Nokia’s smartphones. Some questioned whether this was a better move than using Android, so the next few years will tell if Elop made a strategic blunder or not.

Alliances/Subsidiaries •  Siemens (partnership) •  Navteq (subsidiary) •  Vertu (subsidiary) •  Qt Software (subsidiary) •  Symbian Foundation

Financial Information •  Market Cap: $20.7 billion •  Enterprise Value: $12.4 billion •  2011 Revenues: $50.8 billion •  2011 Net Income: ($1.53 billion) •  2011 Profit Margin: (3.01%) •  P/E Ratio: N/A •  Ticker Symbol: NOK

Countries of Operation •  Finland •  UK •  Spain •  Germany •  France •  China •  Hong Kong •  USA

Major Shareholders •  Dodge & Cox (2.25%) •  Tradewinds Global Investors(1.95%) •  Dodge & Cox Stock Fund (1.44%) •  Goldman Sachs Group (1.21%) •  Capital Research Global Investors (.76%)


Key Management •  Stephen Elop, CEO &

President •  Timo Ihamuotila, CFO & EVP •  Kai, Chief Development

Officer & EVP •  Mary McDowell, Head of Non-

Smartphone Handsets & EVP of Mobile Phones


Updated: Jan 2012

RIM

Company Background Alliances/Subsidiaries

Financial Information

Countries of Operation Major Shareholders Key Management


Updated: Jan 2012

•  Vodafone •  Airtel •  T-Mobile •  China Mobile •  Telefonica •  SK Telecom

Category: Mobile OS

Headquarters: Waterloo, Ontario, Canada

URL address: www.rim.com

•  Research In Motion Limited (RIM) is a Canadian wireless device and telecommunications company that created the BlackBerry smartphone. Initially starting out as a pager company, RIM's BlackBerry product started its stranglehold on the enterprise market in the early 2000s with its ability to quickly send and receive emails. This earned the nickname "CrackBerry” from corporate users across North America and than the globe.

•  Over 50 million BlackBerry phones have been sold, which makes it the second best selling smartphone.

•  On January 22, 2012 RIM announced that Co-CEOs Jim Balsillie and Mike Lazaridis have stepped down as CEOs and announced the new CEO to be Thorsten Heins. The stock price dropped over 75% during 2011 because of the continued missteps by the management team.

•  eBay •  Tata Indicom •  China Telecom •  Alcatel-Lucent •  Orange •  IBM

•  Market Cap: $7.7 billion •  Enterprise Value: $6.5 billion •  2011 Revenues: $19.8 billion •  2011 Net Income: $2.22 billion •  2011 Profit Margin: 11.23% •  P/E Ratio: 3.55 •  Ticker Symbol: RIMM

•  Canada •  USA •  UK •  France •  Germany •  Japan •  South Korea •  China

•  Primecap Management (5.42%) •  Fairfax Financial Holdings (2.44%) •  Manufacturers Life Insurance (2.09%) •  Vanguard/Primecap Fund (1.99%) •  Invesco Ltd. (1.90%)


•  Mike Lazaridis, Founder, Vice Chairman

•  Thorsten Gerhard Heins, CEO & President

•  Brian Bidulka, CFO •  James Rowan, COO

•  O2 •  Telefonica •  China Mobile •  China Unicom •  Vodafone •  Orange

Samsung Category: Mobile Phone Maker

Headquarters: Seoul, Korea

URL address: www.samsung.com

Company Background •  Samsung Electronics is a leading consumer electronics and

semiconductor company. It is the largest memory chip maker and second largest semiconductor manufacturer in the world. It is the largest smartphone maker and the 2nd largest mobile phone manufacturer in the world after Nokia. It is the flagship subsidiary of the Samsung Group.

•  In 2009, Samsung Electronics surpassed Siemens and HP as the world’s largest technology company in terms of revenues.

•  Samsung’s Galaxy S line of smartphones helped vault the company to become the largest smartphone maker in the world. This is a factor why Apple has targeted Samsung in numerous lawsuits across the globe to prevent or slow down its tremendous success.

Alliances/Subsidiaries •  Samsung Group •  AT&T •  Verizon •  Sprint Nextel •  T-Mobile •  SK Telecom

Financial Information •  Market Cap: $103.6 billion •  Enterprise Value: $92.2 billion •  2011 Revenues: $147.0 billion •  2011 Net Income: $12.2 billion •  2011 Profit Margin: 8.32% •  P/E Ratio: 8.50 •  Ticker Symbol: 005930.KS

Countries of Operation •  South Korea •  USA •  China •  India •  UK •  France •  Germany •  Spain

Major Shareholders •  Kun-Hee Lee & affiliates (15.22%) •  Citibank NA (6.53%) •  Samsung Life Insurance (6.45%) •  [Korea] National Pension Service (4.90%)


Key Management •  Gee-Sung Choi, Vice

Chairman, CEO & President of Mobile Phone Division

•  Jae-Yong Lee, President & COO

•  Yeon-Joo Jung, Vice Chairman, CEO of Samsung C&T Corp


Updated: Jan 2012

ZTE Category: Mobile Phone Maker

Headquarters: Shenzhen, China

URL address: www.zte.com.cn

Company Background •  ZTE was founded in 1985 by a group of state-owned enterprises

associated with China's Ministry of Aerospace. The company was formerly Zhongxing Telecommunication Equipment Corporation. (Wikipedia)

•  ZTE is the second largest Chinese telecoms equipment maker (after Huawei), and it has rapidly risen to become the fourth largest mobile phone manufacturer in the world. (Wikipedia)

Alliances/Subsidiaries •  Android •  China Telecom •  China Unicom •  China Mobile

Financial Information •  Market Cap: $14.9 billion •  Enterprise Value: unknown •  2010 Revenues: $11.2 billion •  2010 Net Income: $516 million •  2010 Profit Margin: 4.61% •  P/E Ratio: 20.15 •  Ticker Symbol: 0763.HK

Countries of Operation •  USA •  Australia •  Germany •  Hong Kong

Major Shareholders •  China Life Insurance (1.28%) •  Guangfa Stock Fund (1.18%) •  China Post Core Growth Stock (1.12%) •  Hunan Nantian (1.09%)


Key Management •  Hou Weigui, Chairman & Co-

founder •  Shi Lirong, President •  He Shiyou, EVP of Mobile

Handsets


Updated: Jan 2012

Meraki Category: Wireless Application


URL address: www.meraki.com

Company Background •  Meraki's technology was developed from MIT's Roofnet project. The

core is a wireless mesh hardware and software that allows people to extend the range of their Wifi networks.

•  Meraki’s networking systems bring enterprise-class networking to organizations of all sizes. Meraki's unique cloud-hosted controller architecture provides centralized management and security though an intuitive web interface, eliminating the high costs and complexity associated with traditional networking systems. Over 18,000 organizations and over 35 million connected devices in 143 countries around the world rely on Meraki for their networks. (company website)

•  February 2011, the company closed their Series C round with Sequoia Capital. Most of this will go towards R&D for Meraki’s cloud networking technologies and sales & marketing. (TechCrunch)

Alliances/Subsidiaries •  Google •  City of San Francisco

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2011 Revenues: unknown •  2011 Net Income: unknown •  2011 Profit Margin: unknown •  P/E Ratio: N/A •  Ticker Symbol: N/A


Investors •  Google, Seed Round •  Sequoia Capital, $5 million Series A •  Sequoia Capital, DAG Ventures, and Northgate Capital, $20

million Series B •  Sequoia Capital, $15 million Series C


Key Management •  Sanjit Biswas, CEO & Co-

Founder •  John Bicket, CTO & Co-

Founder •  Hans Robertson, VP of

Product Management & Co-Founder

Wireless Applications!

Updated: Jan 2012

Pulse (Alphonso Labs) Category: Wireless Application

Headquarters: Palo Alto, CA

URL address: www.pulse.me

Company Background •  Alphonso Labs was founded in May 2010 by Ankit Gupta and Akshay

Kothari during their graduate course at Stanford’s Institute of Design. Their first product was Pulse where they wanted to create the best news reading experience on mobile devices. (company website)

•  Pulse was selected as one of 50 apps in Apple’s App Store Hall of Fame and named one of TIME’s top 50 iPhone apps of 2011. (company website)

•  The company’s apps are free on iOS and Android devices.

Alliances/Subsidiaries



Investors •  Redpoint Ventures, Greycroft Partners, Mayfield Fund,

Lightspeed Venture Partners, BV Capital, $800,000 seed round •  New Enterprise Associates, Greycroft Partners, Lerer Ventures,

$9 million Series A

No. of employees: 12

Key Management •  Akshay Kothari, Co-Founder •  Ankit Gupta, Co-founder •  Cristina Cordova, Business

Development •  Purin Phanichphant, User

Experience Design


Updated: Jan 2012

•  Microsoft •  Sony

Seven Networks Category: Other

Headquarters: Redwood City, CA

URL address: www.seven.com

Company Background •  SEVEN is the leading provider of mobile solutions that keep mobile

users in sync with their personal and business life. The company’s push platform and mobile applications are solutions that enable operators and device manufacturers to simplify the delivery of mobile services while optimizing network traffic. (company website)

•  SEVEN’s flagship applications, mobile email and IM, are in production in 14 languages and 70 countries, and support hundreds of device models on eight operating systems. (company website)

•  Open Channel was launched in February 2011 in order to help carriers manage the impact of push messaging notifications on their networks. It works by monitoring all requests for data from smartphone applications. This technology won GSMA's 2011 Winner of Best Technology Breakthrough Award. (directly from Wikipedia)

Alliances/Subsidiaries •  Samsung Electronics •  Verizon Wireless •  Android •  HTC •  Nokia •  LG


Countries of Operation •  USA •  Estonia •  China •  Japan •  Korea •  Spain •  UK •  Finland

Major Shareholders •  Ignition Partners, Amadeus Capital Partners, Elm Ridge

Capital, Greylock Partners, SAIF Partners, $20 million Series D •  Ignition Partners, Amadeus Capital Partners, Greylock

Partners, SAIF Partners, Saints Capital, $42 million (unattributed)


Key Management •  Ross Bolt, CEO •  Michael Luna, CTO •  Qing Lu, CFO


Updated: Jan 2012

•  Qualcomm •  Texas Instruments •  Apple •  Softbank Mobile •  MapQuest •  Priceline

Skyhook Category: Wireless Application

Headquarters: Boston, MA

URL address: www.skyhookwireless.com

Company Background •  Skyhook is the leader in location positioning with its technology that

utilizes Wi-Fi access points to determine geographic location instead of GPS hardware.

•  Skyhook’s Wi-Fi Positioning System (WPS) uses hundreds of millions of Wi-Fi access points worldwide, and provides accurate location information indoors and in urban areas. Its database contains over 230 million access points and has already mapped most of the U.S and Europe.

•  XPS is their the hybrid positioning system which is the first of its kind. This utilizes several location technologies, WPS, GPS, and cellular tower triangulation to provide the fastest, most accurate, and flexible location system.

•  April 2010, Skyhook lost Apple as a primary customer when they went with their own technology. It is unknown how this will effect the company’s future and revenues.

Alliances/Subsidiaries •  Samsung •  Motorola •  Gowalla •  Foursquare •  Aloqa •  Opera



Investors •  Nokia and Commons Angels, $1.8 million Series A •  Nokia, Intel, Bain Capital Ventures, Commons Angels, $6.5

million Series B •  Intel, Bain Capital Ventures, Common Angels, RRE Ventures,

$8.5 million Series C


Key Management •  Ted Morgan, CEO & Co-

Founder •  Michael Shean, SVP of Biz

Dev & Co-Founder •  Nick Brachet, CTO •  Dr. Farshid Alizadeh-Shabdiz,

Chief Scientist


Updated: Jan 2012

SpiderCloud Category: Wireless Application

Headquarters: Santa Clara, CA

URL address: www.spidercloud.com

Company Background •  SpiderCloud is startup that developed the industry’s first enterprise radio

access network (E-RAN) that enables direct integration between enterprise IT networks and mobile devices through small cell technologies. This wireless platform has solved indoor coverage and capacity issues for mobile operators and their business customers.

•  The SmartCloud E-RAN solution provides a flexible and native architecture for enabling enterprise wireless applications such as mobile unified communications and IP-PBX integration. Such seamless integration allows enterprise users to transparently access corporate assets with their existing unmodified mobile devices for not just voice, but also video and data applications. (company website)

•  In 2012, the company launched a small-cell wireless system in the UK in partnership with Vodafone. This is an enhanced indoor 3G network that allows people to access wireless services in busy office settings.

Alliances/Subsidiaries •  Vodafone


Countries of Operation •  USA •  UK

Investors •  Charles River, Matrix Partners, $15 million Series A •  Charles River, Matrix Partners, Shasta Ventures, and Opus

Capital, $25 million Series B


Key Management •  Mike Gallager, CEO •  Behrooz Parsay, SVP of

Engineering & Operations •  Theresa McCarthy, General

Counsel & VP •  Ron Pelley, VP & MD for

Europe


Updated: Jan 2012

Tango Category: Wireless Application


URL address: www.tango.me

Company Background •  The company was founded in September 2009 by Uri Raz and Eric

Setton. Tango is the leading mobile video communications application and used in 190 countries.

•  The company experienced incredible growth hitting over 4 million users two months after their launch and currently has over 23 million users.

•  Tango is a free, high-quality mobile video calling service for iPhone and Android that works on 3G, 4G, and Wi-Fi. (directly from Crunchbase)

•  Tango empowers people to share what they see and to have fun with video calling whether at home or on-the-go. Tango offers high-quality video calling for iPhone 3GS and iPhone 4, and Android devices including Motorola Droid X, HTC EVO, HTC Incredible, and Google Nexus One, and works with carrier phone and data plans, and on Wi-Fi networks. (directly from Crunchbase)

Alliances/Subsidiaries •  Apple •  Samsung •  Microsoft



Investors •  Bill Tai, $5 million Series A •  DFJ, Len Blavatnik, Alex Zubillaga, $42 million Series B


Key Management •  Uri Raz, Co-founder & CEO •  Eric Setton, Co-founder &

CTO •  Gary Chevsky, VP of

Engineering •  JP Marcos, VP of Finance &

Business


Updated: Jan 2012

Twitter Category: Wireless Application


URL address: www.twitter.com

Company Background •  Twitter was founded by Jack Dorsey, Biz Stone and Evan Williams in

March 2006. It's a micro-blogging services that allows people to post updates and links within 140 characters.

•  Users can send and receive tweets through the main website, external applications (i.e. Seesmic), or through SMS in certain countries. SMS usage may incur fees from certain mobile operators.

•  Today Twitter has over 300 million users and a profound effect on media and real-time communications throughout the world. These users generate over 300 million tweets per day.

•  In April 2008 Twitter launched Twitter Japan in partnership with Digital Garage. Twitter can be used in multiple languages worldwide.

•  In 2010, Twitter received $200 million in funding from Klein Perkins and $800 million from DST Global.

Alliances/Subsidiaries •  Twitter Japan •  Digital Garage •  Apple

Financial Information •  Market Cap: N/A •  Enterprise Value: N/A •  2010 Revenues: $140 million (estimate) •  2010 Net Income: unknown •  2010 Profit Margin: unknown •  P/E Ratio: N/A •  Ticker Symbol: N/A

Countries of Operation •  USA •  Japan

Investors •  Charles River, Union Square, Marc Andreessen, Dick Costolo,

Ron Conway, and Greg Yaitanes, $5 million Series A •  Union Square, Bezos Expeditions, Spark Capital, Digital

Garage, Kevin Rose, $15 million Series B •  Union Square, Charles River, Digital Garage, Benchmark, IVP,

and Spark Capital, $35 million Series C •  Benchmark Capital, IVP, Spark Capital, Insight Venture, T.

Rowe Price, and Morgan Stanley, $100 million Series D


Key Management •  Jack Dorsey, Co-Founder &

Chairman •  Dick Costolo, CEO •  Greg Pass, CTO


Updated: Jan 2012

Urban Airship Category: Wireless Application

Headquarters: Portland, OR

URL address: www.urbanairship.com

Company Background •  Urban Airship provides an easy, affordable way for mobile publishers

and developers to deliver real-time push notifications and in-app purchase content to their app users on multiple platforms. (Crunchbase)

•  Urban Airship was launched in May of 2009 after Steven Osborn, tasked with implementing a backend system for push and in-app purchase for a gaming company, realized how resource-intensive the project was. He realized that if he could create the perfect solution, he could provide a valuable product for other smart phone app developers. Osborn reached out to former colleagues Scott Kveton, Adam Lowry, and Michael Richardson and the seed of the new company was planted.

•  Within a month, Urban Airship landed its first customer. Since then, the company has signed on more than 25,000 customers, sent out more than 10 billion messages, and connected to more than 100 million mobile devices.




Investors •  True Ventures, Founder’s Co-op, Pete Grillo, $1.1 million

Series A •  Foundry Group, True Ventures, Founder’s Co-op, $5.4 million

Series B •  Salesforce, Verizon, Foundry Group, True Ventures, $15.1

million Series C


Key Management •  Scott Kveton, Co-Founder &

CEO •  Steven Osborn, Co-Founder &

CTO •  Dylan Anderson – CFO •  Michael Richardson – Co-

Founder & Senior Engineer


Updated: Mar 2012

•  Gossip Girl •  Huffington Post

FourSquare Category: Location-Based

Headquarters: New York, NY

URL address: www.foursquare.com

Company Background •  Foursquare is a location-based social network with gaming elements,

such as badges and mayorships, that incentivize users to check-in and share information with their contacts.

•  Points are awarded for check-ins along with various badges, such as swarm (50+ checking in at the same place), super user (30 check-ins in a month) and crunked (4+ stops in one night). Users are given the "Mayor" title when they are the person who has checked in the most times at a certain location.

•  By January 2012, Foursquare had over 15 million users and over 1.5 billion check-ins.

Alliances/Subsidiaries •  Skyhook •  Zagat •  Bravo •  Conde Nast •  The New York Times •  MTV



Investors •  Union Square, O'Reilly AlphaTech, SV Angel, Jack Dorsey,

Kevin Rose, $1.35 million Angel round •  Union Square, O'Reilly AlphaTech, and Andreessen Horowitz,

SV Angel $20 million Series B •  Andreessen Horowitz, Union Square, O’Reilly AlphaTech,

Spark Capital, $50 million Series C


Key Management •  Dennis Crowley, Co-Founder

& CEO •  Naveen Selvadurai, Co-

Founder •  Alex Rainert, Chief Product

Officer

Location-Based Services!

Updated: Jan 2012

•  Zagat •  CitySearch •  Bing •  Metromix •  Virgin America

Loopt Category: Location-Based

Headquarters: Mountain View, CA

URL address: www.loopt.com

Company Background •  Loopt is a location-based social mapping services and utilizes a mobile

phone-based GPS sharing system that allows people to visualize one another using their cell phones and share information. Loopt also enables users to explore nearby locations by connecting them with content from Zagat, Bing, CitySearch, Metromix and others.

•  The company has over 5 million users and partnerships with every major U.S. wireless carrier. Loopt's service is available on over 100 phones, including iPhone, BlackBerry and Android handsets.

•  In response to FourSquare, Booyah and others, Loopt launched their competing service called Loopt Q (former “Star”), which might be too late in the game for them. Loopt was the perceived leader in location-based social networking, but the space did not take off until Foursquare and others were launched (or that Loopt was too early since they started in 2005).

Alliances/Subsidiaries •  AT&T •  Verizon •  T-Mobile •  Android •  Apple •  CBS



Investors •  Y Combinator, $6,000 Seed round •  New Enterprise Associates, Sequoia, $5 million Series A •  New Enterprise Associates, Sequoia, $12 million Series B


Key Management •  Sam Altman, Co-Founder &

CEO •  Alok Deshpande, Co-Founder

& Head of Product •  Brian Knapp, General Counsel

& VP of Business Operations


Updated: Jan 2012

Path Category: Location-Based


URL address: www.path.com

Company Background •  Path is a location-based social network focused on simple and private

sharing for your closest friends and family. The application limits a user to 150 contacts based on

•  Founded by Dave Morin, previously Co-Inventor of Platform and Connect at Facebook with Shawn Fanning, creator of Napster, and Dustin Mierau co-creator of Macster. (Crunchbase)

•  Path was launched in November 2010 and has grown to over 2 million users. The initial response was not as strong as expected, so they relaunched their application in November 2011. The response was very positive and they saw their daily active user base grow 30x going from 10K to 300K in two and a half weeks.




Investors •  Index Ventures, First Round Capital, Ron Conway, Kevin Rose,

Ashton Kutcher, Gary Vaynerchuk, Joi Ito, Paul Buchheit, Michael Parekh, Marc Benioff, $2.5 million Seed round

•  Kleiner Perkins, Index Ventures, First Round Capital, Digital Garage, $8.65 million Series A


Key Management •  Dave Morin, Co-founder &

CEO •  Shawn Fanning, Co-founder &

Board of Directors •  Matt Van Horn, VP of

Business Development


Updated: Jan 2012

•  Disney •  Kraft Food •  HP •  Coca-Cola

Shopkick Category: Location-Based


URL address: www.shopkick.com

Company Background •  Shopkick bridges the worlds of mobile and physical retail. In August

2010, Shopkick launched the first mobile application that provides rewards and exclusive deals from their partners. (Crunchbase)

•  Shopkick created a new location technology that allows the app to verify the user is actually present inside a store (GPS is too inaccurate for that). Like advertisers pay Google for click traffic in the online world, they can pay Shopkick for foot traffic in the real world. (directly from Crunchbase)

•  Shopkick is the only 100% performance-based marketing platform in the physical retail world. The app grew to 1 million users in its first 6 months, and 2nd million users at 10 months. (directly from Crunchbase)

•  In November 2011, Shopkick announced a partnership with Visa that allows any retail partner that accepts Visa to reward Shopkick users for purchases with their Visa credit or debit card. (directly from Crunchbase)

Alliances/Subsidiaries •  Best Buy •  Target •  Macy’s •  Old Navy •  Crate & Barrel •  Simon Malls



Investors •  Kleiner Perkins Caufield & Byers, SV Angel, Citi Growth

Ventures, Reid Hoffman, $2.5 million Series A •  Kleiner Perkins Caufield & Byers, Reid Hoffman, $2.5 million

Series A •  Kleiner Perkins, Greylock Partners, SV Angel, Citi Growth

Ventures, $15 million Series B


Key Management •  Cyriac Roeding, Co-founder &

CEO •  Aaron Emigh, Co-founder &

CTO •  Jeff Sellinger, Co-founder &

CPO •  Doug Galen, CRO


Updated: Jan 2012

•  IBM •  Matsushita •  Qualcomm •  Motorola •  Samsung •  Sony Ericsson

ARM Category: Other

Headquarters: Cambridge, UK

URL address: www.arm.com

Company Background •  ARM Holdings is the leading semiconductor intellectual property (IP)

supplier. Their IP is the dominant design in mobile phone chips. •  The company was a JV between Apple, Acorn Computers and VLSI

Technology and founded in 1990. •  Their business model is the designing and licensing of IP, and they do

not manufacturer or sell any semiconductor chips. Companies pay ARM to license their IP and a royalty on every chip or wafer produced.

•  Over 20 billion ARM based chips have been shipped to date, and 800 processor licenses sold to more than 250 companies.

•  ARM technology is used in 90% of mobile phones, 80% of digital cameras, and 28% of all electronic devices. (company website)

Alliances/Subsidiaries •  Sharp •  TI •  Cirrus Logic •  Alcatel •  Microsoft •  HP

Financial Information •  Market Cap: $12.24 billion •  Enterprise Value: $11.75 billion •  2011 Revenues: $776.1 million •  2011 Net Income: $177.8 million •  2011 Profit Margin: 22.90% •  P/E Ratio: 70.23 •  Ticker Symbol: ARMH

Countries of Operation •  UK •  Germany •  France •  Sweden •  USA •  China •  India •  Japan

Major Shareholders •  FMR LLC (5.79%) •  Morgan Stanley (2.69%) •  TCW Group (1.91%) •  Earnest Partners (1.43%) •  Jennison Associates (1.39%)


Key Management •  Warren East, CEO •  Tudor Brown, Co-Founder &

President •  Michael Muller, Co-founder &

CTO •  Tim Score, CFO

Other Companies of Interest!

Updated: Jan 2012

Electronic Arts Category: Other

Headquarters: Redwood City, CA

URL address: www.ea.com

Company Background •  Electronic Arts Inc. develops, markets, publishes, and distributes video

game software and content. The company’s games include a range of categories, including action-adventure, casual, sports, family, and massively-multiplayer online role-playing. (Yahoo! Finance)

•  Its portfolio of properties includes various brands, such as Need for Speed, The Sims, Spore, Dead Space, Mass Effect, and Battlefield. The company’s portfolio of games based on licensed intellectual property includes sports-based titles, such as Madden NFL Football. (Yahoo! Finance)

•  In November 2009, EA acquired social game developer, Playfish, for $400 million.

•  In fiscal 2010, EA had 27 titles that sold more than one million copies, and five titles that each sold more than four million copies, including FIFA 10, Madden NFL 10, Need for Speed SHIFT, The SIMS 3 and Battlefield: Bad Company 2. (directly from company website)

Alliances/Subsidiaries •  Bioware •  Criterion Games •  Bright Light Studios

Financial Information •  Market Cap: $5.70 billion •  Enterprise Value: $4.42 billion •  2011 Revenues: $3.86 billion •  2011 Net Income: ($173 million) •  2011 Profit Margin: (4.48%) •  P/E Ratio: N/A •  Ticker Symbol: ERTS

Countries of Operation •  USA •  UK •  Canada •  India •  China •  South Korea •  Spain •  Brazil

Major Shareholders •  Primecap Management (7.54%) •  Vanguard Group (5.87%) •  Bank of New York Mellon (4.82%) •  FMR LLC (4.57%) •  State Street Corporation (3.55%)


Key Management •  John Riccitiello, CEO •  Peter Moore, COO •  Rajat Taneja, CTO •  Frank D. Gibeau, President of

EA Games Label


Updated: Jan 2012

Facebook Category: Other


URL address: www.facebook.com

Company Background •  Facebook is the world’s largest social network with over 845 million

active users. One in every nine people on Earth is a member of Facebook.

•  Users can create profiles with photos, lists of personal interests, contact information, and other personal information. Users can communicate with friends and other users through private or public messages and a chat feature. They can also create and join interest groups and "like pages“. (Wikipedia)

•  Facebook was founded by Mark Zuckerberg with his college roommates and fellow students Eduardo Saverin, Dustin Moskovitz and Chris Hughes. The website's membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. (Wikipedia)

•  The company has raised $2.24 billion in venture funding to date.

Alliances/Subsidiaries •  Zynga •  PayPal •  Amazon.com •  Microsoft •  eBay •  Netflix

Financial Information •  Market Cap: $N/A •  Enterprise Value: $N/A •  2011 Revenues: $3.7 billion •  2011 Net Income: $1.0 billion •  2011 Profit Margin: 27.00% •  P/E Ratio: N/A •  Ticker Symbol: N/A

Countries of Operation •  USA •  Belgium •  Argentina •  Ireland •  Germany •  Holland •  Hong Kong •  India

Major Shareholders •  Mark Zuckerberg (28.2%) •  Jim Breyer & Accel Partners (11.4%) •  Dustin Moskovitz (7.6%) •  DST Global Limiited (5.4%) •  Eduardo Saverin (5%, estimated) •  Peter Thiel (2.5%)


Key Management •  Mark Zuckerberg, Chairman &

CEO •  Sheryl Sandberg, COO •  Bret Taylor, CTO •  David Ebersman, CFO


Updated: Mar 2012

•  Italy •  England •  Spain •  France •  Brazil •  South Korea •  Canada •  Sweden

•  Australia •  Japan •  Singapore

Rovio Category: Other

Headquarters: Espoo, Finland

URL address: www.rovio.com

Company Background •  In 2003, three students from Helsinki University of Technology (currently

Aalto University School of Science and Technology), Niklas Hed, Jarno Väkeväinen, and Kim Dikert participated in a mobile game development competition at the Assembly demo party sponsored by Nokia and HP. (directly from Wikipedia)

•  In January 2005, Relude received investment from a business angel and they changed the company name to Rovio Mobile. (Wikipedia)

•  In December 2009 Rovio released Angry Birds, a catapult-puzzle game for the iPhone. Angry Birds has since been downloaded over 500 million times, with paid downloads accounting for more than 25% of total downloads. (directly from Wikipedia)

•  During July 2011, the company changed its name to Rovio Entertainment Ltd. (Wikipedia)

Alliances/Subsidiaries •  Apple •  Android


Countries of Operation •  Finland

Investors •  Accel, Atomico, Felicis Ventures, $42 million Series A


Key Management •  Mikael Hed, CEO •  Niklas Hed, Co-founder &

CEO •  Peter Vesterbacka, CMO


Updated: Jan 2012

Square Category: Other


URL address: www.squareup.com

Company Background •  Square is a revolutionary service that enables anyone to accept credit

cards anywhere. The company offers an easy to use, free credit card reader that plugs into a phone or iPad. It’s simple to sign up. There are no extra equipment, contracts, monthly fees or merchant account required. By the end of 2011, there were over 800,000 Square dongles in use. (Crunchbase)

•  Co-founded by Jim McKelvey and Jack Dorsey in 2009, the company is headquartered in San Francisco with additional offices in Saint Louis and New York City. (Crunchbase)

•  Square’s transaction fee is 2.75% across all its credit card partners. This is supposedly less expensive than direct partnerships since the credit card companies have some hidden charges to merchants.

Alliances/Subsidiaries •  Visa •  MasterCard •  American Express •  Discover



Major Shareholders •  Khosla Ventures, First Round Capital, SV Angel, Esther Dyson,

Marissa Mayer, Kevin Rose, $10 million Series A •  Sequoia Capital, Visa, $55 million Series B •  Kleiner Perkins, Tiger Technology Global Management, $100

million Series C •  Richard Branson, $3 million Series C


Key Management •  Jack Dorsey, Co-founder &

CEO •  Jim McKelvey, Co-founder •  Tristan O’Tierney, Co-founder •  Bob Lee, CTO •  Keith Rabois, COO


Updated: Jan 2012

Qualcomm Category: Other

Headquarters: San Diego, CA

URL address: www.qualcomm.com

Company Background •  QUALCOMM engages in the development, design, manufacture, and

marketing of digital wireless telecommunications products and services. The company operates in four segments: Qualcomm Code Division Multiple Access Technologies (QCT), Qualcomm Technology Licensing (QTL), Qualcomm Wireless and Internet (QWI), and Qualcomm Strategic Initiatives (QSI). (Yahoo! Finance)

•  The QCT segment develops and supplies code division multiple access (CDMA)-based integrated circuits and system software. The QTL segment grants licenses to use portions of its intellectual property portfolio, which includes cdmaOne, CDMA2000, WCDMA, CDMA TDD and others. The QWI segment comprises Qualcomm Internet Services that provides content enablement services for the wireless industry. The QSI segment makes strategic investments to promote the worldwide adoption of CDMA-based products and services. (Yahoo! Finance)

Alliances/Subsidiaries •  ZTE •  Oracle •  Audiovox •  Symbian •  AT&T •  Verizon

Financial Information •  Market Cap: $107.4 billion •  Enterprise Value: $95.2 billion •  2011 Revenues: $16.3 billion •  2011 Net Income: $4.7 billion •  2011 Profit Margin: 27.57% •  P/E Ratio: 24.28 •  Ticker Symbol: QCOM

Countries of Operation •  USA •  South Korea •  China •  Japan •  Taiwan

Major Shareholders •  FMR LLC (4.15%) •  Vanguard Group (3.96%) •  State Street Corp (3.63%) •  Price (T.Rowe) Associates (3.11%) •  BlackRock Institutional Trust (2.63%)


Key Management •  Dr. Paul E. Jacobs, Chairman

& CEO •  Steven Mollenkopf, President

& COO •  William Keitel, CFO & EVP •  Donald Rosenberg, EVP &

General Counsel


Updated: Jan 2012

About Pegasus Strategies LLC!

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Pegasus Strategies Wireless Overview 2012

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