Monday, Vonage Holdings Corp. (VG), a provider of broadband Voice over Internet Protocol services, launched Vonage Mobile, its first mobile calling application for smartphones. Vonage Mobile is a free downloadable application and provides low-cost international calling while on Wi-Fi or cellular networks. Shares of the company are currently trading up over 18% on the New York Stock Exchange.
The company stated that Vonage Mobile will be available for download on the iPhone, BlackBerry and iPod touch at www.vonage.com and the iTunes App Store, later on October 5. The Holmdel, New Jersey-based company said that once downloaded, the service saves customers more than 50% on calls to dozens of countries, compared to rates charged by wireless carriers while providing far more convenience than calling cards.
Further, the company said the application will give customers exceptional per-minute rates to any country they want to dial. Also, in the fourth quarter of 2009, Vonage intends to enhance the application to include the popular Vonage World plan, which was introduced for home service in August.
The company added that the mobile has rates which are better than traditional wireless and landline carrier rates as well as real-time balance updates and the ability to automatically replenish funds in account. Marc Lefar, chief executive officer said, "Our new mobile app is an important step in establishing Vonage as a software technology company that enables high-quality voice and messaging across any device in any location, providing great value over any broadband network."
VG is currently trading at $1.57, up $0.25 or 18.94%, on a volume of 8.31 million shares.
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