I'll take the one with the mink cover. ; )
Iridium to Market Phones, Pagers With Nieman Marcus
Dallas, Aug. 4 (Bloomberg) -- Iridium LLC, the worldwide satellite-based telephone system, agreed with Neiman Marcus Group Inc. to sell phones and pagers through the upscale department store company.
Iridium products will be featured in the December issue of Neiman Marcus's monthly publication, and will be introduced to the retailer's best customers through a newsletter and promotions this fall, the companies said.
Iridium, a joint venture led by Motorola Inc., is ahead of its main competitor, Globalstar Telecommunications Ltd., in the battle to become the first company to provide worldwide satellite- based telephone services. It already has about 250 agreements with wireless service providers, giving it access to more than 87 million subscribers in 107 countries.
Iridium began a $140 million international advertising campaign in June to promote its products.
''As a distinguished specialty retailer, we believe Neiman Marcus is a perfect place for us to showcase the Iridium product and service,'' said Jim Walz, president of Iridium North America.
The $5 billion network will let people communicate on hand- held telephones and pagers worldwide through its constellation of low-orbit satellites.
Iridium's other major partners include Sprint Corp., Germany's Veba AG, Japan's DDI Corp. and Indonesia's PT Barkie Communications Corp.
Iridium shares rose 1 1/8 to 42 7/8, while Dallas-based Neiman Marcus fell 1/4 to 33 1/4. |
