Wireless Industry Snapshot!
Lunsford Group!

Overview: Fast Facts! Top Fifteen
Wireless Carriers Worldwide 2010 1. China Mobile, 522.3 million 2. Vodafone Group, 333 million 3. Telefonica, 202 million 4. America Movil, 201 million 5. Telenor Group, 174 million 6. Deutsche Telekom, 151.7 million 7. TeliaSonera, 147.6 million Worldwide Mobile Phone Sales Worldwide Smartphone OS Market Share 2009 Market Share 2009 8. China Unicom 147.6 million • Nokia 36.4% • Symbian 46.9% 9. France Telecom 132.6 million • Samsung 19.5% • RIM 19.9% 10. Bharti Airtel, 125 million • LG 10.1% • iPhone OS 14.4% 11. MTN Group, 123.6 million • Motorola 4.8% • Windows Mobile 8.7% 12. Axiata, 120 million • Sony Ericsson 4.5% • Linux 4.7% 13. Mobile Telesystems 101.3 million • Others 24.7% • Android 3.9% 14. Etisalat, 100 million • WebOS .7% 15. Reliance, 100 million • Other OSs .6% Source: RCRWireless (# subscribers) Source: Gartner Source: Gartner

Overview: Fast Facts! Top Ten
U.S. Wireless Top Ten 3G Markets Worldwide 2009 • 1.3 billion mobile phones Carriers 2010 Subscribers Penetration Rate will be shipped in 2010. 1. Verizon, 92.8 million 1. USA 112 million 41% 250 million will be 2. AT&T, 86.9 million 2. Japan 97.5 million 90% smartphones. 3. Sprint Nextel, 47.8 million 3. Korea 35.6 million 75% 4. T-Mobile, 33.7 million 4. Italy 27.8 million 34% "Mobile will be 5. MetroPCS, 7.33 million 5. UK 23.7 million 31% bigger than the 6. U.S. Cellular, 6.14 million 6. Germany 22.3 million 22% desktop in 5 7. Leap Wireless, 5.40 million 7. Spain 22.0 million 41% years… It's 8. Clearwire, .97 million 8. France 15.7 million 27% ramping faster 9. Cincinnati Bell, .52 million 9. Australia 13.7 million 56% than the desktop 10. Ntelos, .46 million 10. Indonesia 13.6 million 10% Internet and will be bigger than most think.” ! - Mary Meeker, Morgan Stanley! Source: FierceWireless (# subscribers) Source: Morgan Stanley

Overview: Trends! Android’s Rapid Challenge
to Apple’s iOS • First quarter 2010, Android jumped from 6th to 4th in terms of mobile OS market share, and from 1.6% Q1 2009 to 3.9% Q4 2009 to 9.6% Q1 2010. (Gartner) • 8.2 million Android phones expected to ship in 2010 (Frost & Sullivan) • First quarter 2010, 60% of mobile developers building on Android vs. 51% on iOS. (VisionMobile) • Flexibility of Android creates immense opportunities for old and new entrants. New form factors and applications for business, military and consumer mobile devices.

Overview: Trends! Growth of Mobile
Advertising • In 2010, mobile advertising is forecast to grow 45% to $3.8 billion: $3.2 billion SMS advertising, $253 million mobile display and $321 million mobile search. (J.P. Morgan) • 1 trillion SMS (text messages) in 2009. Over 84 billion text messages a month. • SMS the new spam domain? Or will it be social networks? Either way, less value and ROI in SMS advertising for the future. Growth of Mobile eCommerce • In 2010, mobile ecommerce is estimated to hit $2.4 billion from $1.2 billion in the prior year. (Coda Research) • In 2009, Japan had a $10 billion mobile ecommerce market. • 23% of Internet users in Asia-Pacific made an Internet purchase through a mobile phone vs. 3.5% of users in North America (eMarketer, 2009). • 19% of Rakuten’s revenues, Japan’s largest ecommerce player, came from mobile. • Japan and Korea provide many crystal balls for new technology adoption and growth in the U.S. and Europe (i.e. online gaming, camera phones, micropayments, etc.)

Overview: Trends! Others to Watch
For • Location-based advertising • Augmented reality • Mobile gaming devices • Mobile video • Visual search

Primary Sectors! • Wireless Carriers • Mobile
Operating Systems • Mobile Phone Manufacturer • Wireless Applications • Location-Based Services • Other Companies of Interest

Global Wireless Universe! NTT DoCoMo
Tom Tom China Unicom Garmin Deutsche Telekom Booyah Linux KT Orange FourSquare SK Telecom AT&T Microsoft RIM Gowalla Telefonica Sprint Nextel Android Loopt Symbian Vodafone Soonr China Mobile Softbank Mobile Apple 4INFO Skyhook Verizon HTC Wireless Carrier LG Meraki Mobile OS Nokia Clearwire Mobile Phone Maker Apple Twitter Motorola Wireless Application Location-Based SpiderCloud Sony Samsung ARM GetJar Other Ericsson INVESTMENT / M&A Qualcomm ALLIANCE AdMob Adobe RIM EA HP 8

Wireless Universe Snapshot! Select Global
Companies:! Detailed Profiles!

Wireless Carriers! AT&T Mobility Updated:
June 2010 Category: Wireless Carrier URL address: www.wireless.att.com/ Headquarters: Atlanta, GA No. of employees: 276,280 (AT&T) Company Background Alliances/Subsidiaries • AT&T Mobility is a subsidiary of AT&T. It’s the 2nd largest wireless carrier • Microsoft • HTC in the U.S. with 87 million subscribers. • Apple • Nokia • The exclusive provider of Apple’s iPhone. Due to poor wireless • Blackberry • Palm/HP coverage in major metro areas, such as NYC and San Francisco, AT&T • Motorola • Pantech brand and service has been battered. Recent problems with Apple’s • Samsung • Sony Ericsson iPhone4 brings into question whether it was solely AT&T’s poor network • LG or design issues with the iPhone. Financial Information • Their top selling phones (as of June 2010) are the Samsung A777, Nokia • Market Cap: $146.7 billion (AT&T) 6350, LG Neon, and Sony-Ericsson W518a. • Enterprise Value: $214.3 billion • They are the largest Wi-Fi provider with more than 125,000 hot spots • 2009 Revenues: $123 billion around the world (including company-owned and third-party roaming • 2009 Net Income: $12.5 billion locations) — with the addition of approximately 7,000 Starbucks • 2009 Profit Margin: 9.65% locations. • P/E Ratio: 12.37 • Ticker Symbol: T Countries of Operation Major Shareholders Key Management • USA • Capital Research Global Investors (4.03%) • Ralph de la Vega, CEO of • Vanguard Group (3.46%) AT&T Mobility & Consumer • BlackRock (2.96%) Markets and Pres of Mobility & • Capital World Investors (1.78%) Consumer Markets • Wellington Management Company (1.69%) • Randall L. Stephenson , • Bank of New York Mellon (1.35%) Chairman, CEO, Pres and • Northern Trust Corp (1.23%) Chairman of Exec Committee 10 10

Wireless Carriers! China Mobile Updated:
June 2010 Category: Wireless Carrier URL address: www.chinamobileltd.com Headquarters: Hong Kong No. of employees: 145,954 Company Background Alliances/Subsidiaries • China Mobile is the world’s largest wireless provider with more than • Android 548.9 million subscribers. They provide mobile communications and related services primarily to Mainland China. • Their three primary services are: Easyown (prepaid service), GoTone (flagship service) and M-zone (premium prepaid service). • China Mobile is launching their own Android phone called the “OPhone”. • The company also offers agricultural information services; Financial Information telecommunications network planning and consulting services; • Market Cap: $204.3 billion technology platform development and maintenance services; and mobile • Enterprise Value: $171.9 billion data solutions, and system integration and development services, • 2009 Revenues: $66.2 billion • 2009 Net Income: $16.9 billion • 2009 Profit Margin: 25.47% • P/E Ratio: 12.17 • Ticker Symbol: CHL Countries of Operation Major Shareholders Key Management • China • Fisher Investments (.14%) • Jianzhou Wang, Chairman, • Hong Kong • Matthews International Capital (.09%) CEO & President • Pakistan • UBS AG (.07%) • Xu Long, Exec. Director, • Wellington Management Company (.06%) Chairman & President of • Bank of New York Mellon (.06%) Guangdong Mobile • Citigroup (.06%) • Mr. Taohai Xue, CFO, VP of China Mobile 11 11

Wireless Carriers! China Unicom Updated:
June 2010 Category: Wireless Carrier URL address: www.chinaunicom.com.hk Headquarters: Hong Kong No. of employees: 216,830 Company Background Alliances/Subsidiaries • China Unicom is the 2nd largest wireless provider in China with over • Android 147.6 million subscribers. Their GSM service covers 31 provinces, • SK Telecom municipalities, and autonomous regions, and they have 38.6 million • Telefonica fixed-line broadband subscribers in 335 cities in China. • PCCW • China Unicom is launching a mobile phone built on Google’s Android OS and will be called “uPhone”, and will build their own app store called “Unistore” that will be compatible with Android’s market. Financial Information • The company also offers broadband and other Internet-related services, • Market Cap: $31.6 billion information communications technology services, business and data • Enterprise Value: $40.4 billion communications services, and domestic and international long distance • 2009 Revenues: $22.5 billion services. • 2009 Net Income: $1.4 billion • 2009 Profit Margin: 4.55% • P/E Ratio: 30.48 • Ticker Symbol: CHU Countries of Operation Major Shareholders Key Management • China • Telefonica (8%) • Xiaobing Chang, Chairman, • FMR LLC (.28%) CEO, Chairman of the Unicom • Dimensional Fund Advisors (.28%) Group and President of the • FIL LTD (.22%) China Telecom Corp • Yimin Lu, President & Executive Director • Jilu Tong, CFO & Executive Director 12 12

Wireless Carriers! Deutsche Telekom Updated:
June 2010 Category: Wireless Carrier URL address: www.t-mobile.net Headquarters: Bonn, Germany No. of employees: 36,000 Company Background Alliances/Subsidiaries • T-Mobile is the wireless provider and subsidiary of Deutsche Telekom. It • Everything Everywhere • Blackberry is the 6th largest wireless provider in the world and the leading company • T-Mobile USA • Garmin in Germany with over 151 million subscribers worldwide. • Android • Dell • T-Mobile UK created a joint venture with France Telecom's Orange UK to • Motorola • HTC form the UK's largest mobile operator called Everything Everywhere. • Samsung • Nokia • Sony Ericsson • T-Mobile USA is a subsidiary of Deutsche Telekom and the 4th largest wireless provider in the U.S. with 33.7 million subscribers and generates Financial Information over $17 billion in revenues. • Market Cap: $57.2 billion (Deutsche Telekom) • Enterprise Value: unknown • 2009 Revenues: $83.2 billion • 2009 Net Income: $456.8 million • 2009 Profit Margin: 1.32% • P/E Ratio: 20.04 • Ticker Symbol: XETRA: DTEL.DE Countries of Operation Major Shareholders Key Management • Germany • Federal Republic of Germany (14.8%) • Rene Obermann, CEO • UK • KfW Bankengruppe (16.9%) • Timotheus Hottges, CFO • USA • Olivier Baujard, CTO • Austria • Anastassia Lauterbach, Acting • Croatia Chief Product & Innovation • Czech Republic Officer • Hungary • Netherlands 13 13

Wireless Carriers! KT Updated: June
2010 Category: Wireless Carrier URL address: www.kt.com Headquarters: Sungnam, South Korea No. of employees: unknown Company Background Alliances/Subsidiaries • KT, originally Korea Telecom, was the state-owned telecommunications • MT (Mongolia) • East Telecom (Uzbekistan) provider in South Korea. After spinning out its wireless division, KTF, it • KT China • Apple acquired it back in 2009, so both landline and wireless services are • NTC (Russia) housed under KT. • KT JC (Japan) • KT is the exclusive distributor of Apple’s iPhone in Korea, which has • KTAI (USA) experienced tremendous sales and has made it more competitive with the leading carrier in Korea, SK Telecom. Financial Information • KT provides integrated telecommunications services. It offers telephone • Market Cap: $9.3 billion services, including local, domestic, and international long-distance fixed- • Enterprise Value: $15.4 billion line telephone services. The company also provides broadband Internet • 2009 Revenues: $16.9 billion access and other Internet-related services, including IP-TV services; and • 2009 Net Income: $524 million PCS mobile telecommunications service, and third-generation HSDPA- • 2009 Profit Margin: 2.52% based IMT-2000 wireless Internet and video multimedia communications • P/E Ratio: 20.78 services. (Yahoo! Finance) • Ticker Symbol: KT Countries of Operation Major Shareholders Key Management • S. Korea • Silchester Int'l Investors (3.63%) • Suk-Chae Lee, CEO, • Mongolia • BlackRock Fund Advisors (2.83%) Chairman of Exec. Committee • China • Franklin Resources (2.15%) • Sang-Hoon Lee, President, • Russia Director and President of • Japan Enterprise Customer Group • USA • Soo-Ho Maeng, CFO & Sr. • Uzbekistan Exec. VP of Global Business Unit 14 14

Wireless Carriers! NTT DoCoMo Updated:
June 2010 Category: Wireless Carrier URL address: www.nttdocomo.co.jp Headquarters: Tokyo, Japan No. of employees: unknown Company Background Alliances/Subsidiaries • NTT DoCoMo is the leading wireless provider in Japan with over 56 • Sharp (handset maker) • Samsung million subscribers and 50% market share. Its cutting-edge i-mode • Panasonic (handset maker) • Blackberry service was the leader and model for many in the world to follow in 1999 • NEC Casio (handset maker) • Sony Ericsson and the early 2000s. NTT DoCoMo also launched FOMA™, the world's • Fujitsu (handset maker) • Umobile (Malaysia carrier) first 3G commercial mobile service, in 2001 which was based on W- • LG Electronics (handset maker) • Tata Teleservices (6th in India) CDMA. • NTT DoCoMo is a subsidiary of NTT, which is the primary Financial Information telecommunications company in Japan and 33.7% owned by the Japanese government. • Market Cap: $66.2 billion • Enterprise Value: $64.5 billion • The company and its subsidiaries provide wireless telecommunications • 2010 Revenues: $45.9 billion (March 2010) services, packet communications services, and satellite mobile • 2010 Net Income: $5.3 billion (March 2010) communications services in Japan. • 2010 Profit Margin: 11.55% • P/E Ratio: 11.87 • Ticker Symbol: DCM Countries of Operation Major Shareholders Key Management • Japan • NTT • Ryuji Yamada, President and • USA • Renaissance Technologies (.05%) CEODr. Kiyoyuki • UK • Scout Investment Advisors (.05%) • TsujimuraSenior EVP • France (Multimedia Services & • Netherlands Technology) • Germany • Masatoshi SuzukiSenior EVP • China (Global Business and • India Corporate) 15 15

Wireless Carriers! Orange Updated: June
2010 Category: Wireless Carrier URL address: www.orange.com Headquarters: Arcueil, France No. of employees: 176,669 (France Telecom) Company Background Alliances/Subsidiaries • Orange is the wireless and Internet subsidiaries of France Telecom. • Apple • Blackberry Recently, France Telecom also adopted the “Orange” name across most • Nokia • Sony Ericsson of its services to be consistent with its branding. The company is the • Samsung • Orange ISP (formerly leading telecom and wireless provider in France and the 9th largest • Alcatel Wanadoo) wireless providers in the world with over 132.6 million subscribers. • LG • Orange Armenia • In 2009, France Telecom fixed line business was 18.5% of their • HTC • Orange Austria revenues, mobile was 75.4%, and Internet was 6.1%. Financial Information • In 2008, Orange gained the rights to sell Apple’s iPhone in Austria, • Market Cap: $50.8 billion (France Telecom) Belgium, the Dominican Republic, Egypt, Jordan, Poland, Portugal, • Enterprise Value: unknown Romania, Slovakia, Switzerland and Orange's African markets. • 2009 Revenues: $64.8 billion • Orange is the largest ISP in Europe and provides services in France, • 2009 Net Income: $6.2 billion Spain, the United Kingdom, Kenya, Equatorial Guinea, Senegal, Guinea, • 2009 Profit Margin 6.52% Mali, Romania, Slovakia and Switzerland. • P/E Ratio: 13.47 • Ticker Symbol: FTE Countries of Operation Major Shareholders Key Management • France • France Telecom (Orange) • Stephane Richard, CEO and • Austria • Brandes Investment Partners (.36%) Head of Operations in France • Cameroon • Allianz Global Investors of America (.17%) • Gervais Pellissier, CFO, • Israel Deputy CEO, Chairman of • Kenya Claims Committee • Spain • Marc Rennard , Exec. VP, • Uganda Head of Operations - Africa Middle-East & Asia 16 16

Wireless Carriers! SK Telecom Updated:
June 2010 Category: Wireless Carrier URL address: www.sktelecom.com Headquarters: Seoul, South Korea No. of employees: unknown Company Background Alliances/Subsidiaries • SK Telecom is the leading wireless provider in South Korea with 47.9 • Android • Motorola million subscribers and over 50% market share. SK Telecom was the • China Unicom • Samsung first in the world to commercialize 3G and then HSDPA (2006), or 3.5G. • Citibank • LG • Their primary services are: NATE, a wired and wireless portal service; • Helio (acquired) JUNE, a premium multimedia streaming service (i.e. video, real-time • SK Communications (CyWorld) TV); MELON, mobile music portal; GXG, game portal service. • In 2006, SKT created a $440 million JV with Earthlink to enter the U.S. Financial Information market. The new entity was called Helio. By 2007, SKT had to invest • Market Cap: $10.2 billion $270 million more and took operational control. By 2008, Helio was • Enterprise Value: $14.7 billion acquired by Virgin Mobile for $39 million. This was probably a case of • 2009 Revenues: $12.5 billion poor management and strategy by the two JV partners. Helio oddly • 2009 Net Income: $907 million targeted Korean Americans in LA as one of its markets, which is a very • 2009 Profit Margin 8.57% niche population of 1 million people. • P/E Ratio: 9.93 • In 2008, SKT launched a JV with Citibank called Mobile Money • Ticker Symbol: SKM Ventures, which provides mobile financial service solutions globally. Countries of Operation Major Shareholders Key Management • South Korea • Citibank ADR (29.72%) • Man-Won Jung, CEO & • USA • SK Corp (23.22%) President • China • [Korea] National Pension Corp (3.4%) • Jae Won Chey, Vice • Hong Kong • POSCO (2.9%) Chairman, CEO of SK • Singapore • Tradewinds Global Investors (4.52%) Holdings, CEO of SK Gas • Philippines • Brandes Investment Partners (2.75%) • Dong-Hyun Jang, CFO • Malaysia • BlackRock Fund Advisors (2.16%) • Morgan Stanley (1.98%) 17 17

Wireless Carriers! Sprint Nextel Updated:
June 2010 Category: Wireless Carrier URL address: www.sprint.com Headquarters: Overland Park, KS No. of employees: 40,000 Company Background Alliances/Subsidiaries • Sprint Nextel is the 3rd largest wireless provider in the U.S. with 47.8 • RadioShack • IBM million subscribers. Sprint launched the first 4G service in the U.S. using • Boost Mobile • Northrop Grumman Clearwire’s WiMAX technology. • Alcatel Lucent • HTC • Sprint owns 56% in Clearwire, who built out the 4G network for Sprint. • Cisco • LG • HP • Sanyo • Boost Mobile is a brand of Sprint Nextel under its Prepaid Group, and • Palm • Samsung has over 5 million subscribers. They additional have the Virgin Mobile and Assurance Wireless brands under this group. Financial Information • Sprint Nextel provides wireless services on networks that utilize CDMA, • Market Cap: $13.7 billion iDEN (from Nextel acquisition), and 4G (WiMAX) technologies. The • Enterprise Value: $30.3 billion other major U.S. wireless carrier that uses CDMA technology is Verizon • 2009 Revenues: $32.3 billion Wireless. • 2009 Net Income: ($2.4) billion • 2009 Profit Margin (8.42%) • P/E Ratio: N/A • Ticker Symbol: S Countries of Operation Major Shareholders Key Management • USA • AXA (7.98%) • Dan Hesse, Chairman, CEO & • Dodge & Cox (7.84%) President • Bank of New York Mellon (7.10%) • Robert H. Brust, CFO • Goldman Sachs Group (4.00%) • Keith O. Cowan, President of • Vanguard Group (3.47%) Strategic Planning & Corp • State Street Corp (3.40%) Initiatives • BlackRock Institutional Trust (2.99%) • Daniel H. Schulman, President of Prepaid Group 18 18

Wireless Carriers! Softbank Mobile Updated:
June 2010 Category: Wireless Carrier URL address: mb.softbank.jp Headquarters: Tokyo, Japan No. of employees: 6,300 Company Background Alliances/Subsidiaries • Softbank Mobile is a subsidiary of Softbank Corp, which is the holding • Apple • Panasonic (handset maker) company of Masayoshi Son. It is the 3rd largest wireless provider in • Android • Nokia Japan with 22.5 million subscribers. • Casio (handset maker) • HTC • In 2006, Vodafone sold Vodafone Japan (Vodafone KK) to SoftBank for • Toshiba (handset maker) • Samsung 1.75 trillion yen (approx US$15.1 billion). • Sharp (handset maker) • ZTE • NEC (handset maker) • Softbank Mobile was the exclusive distributor of Apple’s iPhone in Japan, which allowed it to capture 72% of the smartphone market Financial Information (BusinessWeek, April 22, 2010). However, the smartphone market isn’t • Market Cap: N/A large relative to Japan’s overall wireless market. Japan’s advanced • Enterprise Value: N/A feature phones dominate the current consumer interests. • 2009 Revenues: (latest available is 2005) • 2009 Net Income: (latest available is 2005) • 2009 Profit Margin: (latest available is 2005) • P/E Ratio: N/A • Ticker Symbol: Countries of Operation Major Shareholders Key Management • Japan • Softbank Corp • Masayoshi Son, Chairman & CEO • Ken Miyauchi, Senior EVP & COO • Tetsuzo Matsumoto, Senior EVP 19 19

Wireless Carriers! Telefonica Updated: June
2010 Category: Wireless Carrier URL address: www.telefonica.com Headquarters: Madrid, Spain No. of employees: 259,209 Company Background Alliances/Subsidiaries • Telefonica is the leading wireless provider in Spain and the 3rd largest in • O2 the world with 202 million subscribers worldwide. • Terra • The company operates in 25 countries with its strongest presence in • China Unicom Europe and Latin America. More than 60% of its business is outside of Spain. In Latin America, it services more than 172 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 Financial Information landline and wireless services in Spain and Latin America. O2 is their • Market Cap: $95.5 billion brand for similar services in the UK, Germany, Ireland, Czech Republic, • Enterprise Value: $155.6 billion and Slovakia. Terra is their brand for interactive services and online • 2009 Revenues: $81.4 billion content for Spain and Latin America. • 2009 Net Income: $11.2 billion • In 2005, O2 was acquired by Telefonica for GBP17.7 billion (approx. US • 2009 Profit Margin: 13.40% $27.1 billion). Currently O2 UK has 18.4 million subscribers. • P/E Ratio: 9.73 • Ticker Symbol: TEF Countries of Operation Major Shareholders Key Management • Spain • Argentina • Banco Bilbao Vizcaya Argentaria (6.96%) • César Alierta Izuel, Executive • Colombia • Brazil • Caixa d'Estalvis i Pensions de Barcelona ("La Caixa") (5.44%) Chairman & CEO • Ecudaor • Chile • Morgan Stanley (.68%) • Julio Linares Lopez, COO • El Salvador • UK • Dodge & Cox (.53%) • Jose Maria Alvarez-Pallete • Guatemala • Ireland • Franklin Resources (.36%) Lopez, Executive Director and • Mexico • Germany GM of Telefónica • Nicaragua • Czech Republic Latinoamérica • Panama 20 20

Wireless Carriers! Verizon Updated: June
2010 Category: Wireless Carrier URL address: www.verizon.com Headquarters: Basking Ridge, NJ No. of employees: 217,100 Company Background Alliances/Subsidiaries • Verizon Wireless is a joint venture between Verizon Communications • Verizon Wireless • Samsung (55%) and Vodafone Group (45%). This is the leading wireless provider • Vodafone • Blackberry in the U.S. with 92.8 million subscribers. • Android • LG • Verizon Communications operates in two segments, Wireline and • Motorola • Claro (Puerto Rico) Domestic Wireless. The Wireline segment provides voice, Internet • HTC access, broadband video and data, next generation Internet protocol (IP) • HP/Palm network services, network access, and long distance services to Financial Information consumers, carriers, businesses, and government customers. (Yahoo! Finance) • Market Cap: $75.5 billion • Enterprise Value: $134 billion • In 2009, Verizon Wireless acquired Alltel Wireless for $28.1 billion. This • 2009 Revenues: $107.8 billion allowed Verizon Wireless to become the largest wireless provider in the • 2009 Net Income: $3.65 billion U.S. in terms of subscribers. • 2009 Profit Margin: 2.23% • The company is one of two major wireless carriers utilizing CDMA • P/E Ratio: 31.40 technology. The other is Sprint Nextel. • Ticker Symbol: VZ Countries of Operation Major Shareholders Key Management • USA • Capital World Investors (4.87%) • Ivan G. Seidenberg, Chairman • Puerto Rico • Vanguard Group (3.47%) & CEO • BlackRock Institutional Trust (2.69%) • John F. Killian, CFO & Executive VP • Lowell C. McAdam, Executive VP & CEO of Verizon Wireless • John W. Diercksen, Executive VP of Strategy & Planning 21 21

Wireless Carriers! Vodafone Updated: June
2010 Category: Wireless Carrier URL address: www.vodafone.com Headquarters: Newbury, UK No. of employees: 85,000 Company Background Alliances/Subsidiaries • Vodafone is the 2nd largest wireless provider in the world with over 341 • Verizon Wireless (45%) • Safaricom (Kenya, 35%) million subscribers. In its home market, the UK, Vodafone is the 3rd • SFR (France, 43.9%) • Softbank Mobile (Japan) largest carrier. • Plus (Poland, 24.4%) • Chunghwa Telecom (Taiwan) • The company has operations in 31 countries and partner networks in • China Mobile (China, 3.4%) • Android another 40 countries. Vodafone’s strongest presence is in Europe, Asia • Airtel (India, 4.4%) Pacific, Africa, the Middle East and the U.S. Financial Information • Market Cap: $135.9 billion • Enterprise Value: unknown • 2009 Revenues: $68.7 billion • 2009 Net Income: $13.4 billion • 2009 Profit Margin: 19.4% • P/E Ratio: 9.15 • Ticker Symbol: VOD Countries of Operation Major Shareholders Key Management • UK • Czech Republic • Dodge & Cox (1.75%) • Sir John Bond, Chairman • USA • Romania • FMR LLC (.74%) • Vittorio Colao, CEO • Germany • Turkey • Morgan Stanley (.39%) • John Buchanan, Deputy • Greece • Australia Chairman • Hungary • India • Andy Halford, CFO • Italy • New Zealand • Netherlands • China • Spain • Egypt 22 22

Mobile Operating Systems! Android Updated:
June 2010 Category: Mobile OS URL address: www.android.com Headquarters: Mountain View, CA No. of employees: approximately 250 / 20,621 (Google) Company Background Alliances/Subsidiaries • Android is Google’s Linux-based mobile operating system, which • Open Handset Alliance • NEC includes middleware and key applications. Original Android, Inc, it was • HTC • Kyocera acquired by Google in July, 2005. The co-founders were Andy Rubin (co- • Motorola • ZTE founder of Danger), Rich Miner (co-founder of Wildfire Communcations), • Samsung • Nuance Nick Sears and Chris White. • Dell Garmin • ARM • Android’s vision and plans were revealed in late 2007 with the • Haier • Qualcomm announcement of the Open Handset Alliance, which was a consortium of Financial Information 71 hardware, software and telecom companies seeking to accelerate mobile innovation. Android was its foundation as the first complete, • Market Cap: $157.3 billion (Google) open and free mobile platform. Google released the Android code under • Enterprise Value: $129.29 billion the Apache License, which is an open source license. • 2009 Revenues: $23.7 billion • 2009 Net Income: $6.52 billion • 2009 Profit Margin: 28.30% • P/E Ratio: 22.49 • Ticker Symbol: GOOG Countries of Operation Major Shareholders Key Management • USA • FMR LLC (6.37%) • Eric E. Schmidt, Chairman, • Japan • Capital Research Global Investors (3.85%) CEO • South Korea • Vanguard Group (3.52%) • Dr. Larry Page, Co-Founder, • China • Price (T.Rowe) Associates (3.47%) President of Products • UK • State Street Corporation (3.26%) • Sergey Brin, Co-Founder, • Spain • BlackRock Institutional Trust (2.98%) President of Technology • Germany • Andy Rubin, VP of • France Engineering, Head of Android 23 23

Mobile Operating Systems! Apple Updated:
June 2010 Category: Mobile OS URL address: www.apple.com Headquarters: Cupertino, CA No. of employees: 34,300 Company Background Alliances/Subsidiaries • Apple is a leading consumer electronics, PC and mobile smartphone • FileMaker manufacturer. The company's best-known products include the • AT&T Macintosh computers, the iPod, the iPhone and the iPad. They also • Foxconn Technology Group operate 284 retail stores in 10 countries. • Apple's strength is in its design and creating cool, cutting products. Steve Jobs, their CEO, has famously stated they don't use focus groups for their products because they know what consumers want. Financial Information • iOS is Apple's mobile operating system that was developed for iPhone • Market Cap: $228.8 billion and now used in iPad. This operating system and related user-interface • Enterprise Value: $205.9 billion (UI) is elegantly designed. The iOS/iPhone's App Store is a revolution in • 2009 Revenues: $42.9 billion mobile services since the iPhone SDK has allowed numerous • 2009 Net Income: $8.23 billion companies and individuals to create new mobile applications that were • 2009 Profit Margin: 21.15% not possible or ideal in previous mobile environments. • P/E Ratio: 21.32 • iPhone 4 was released on June 24, 2010 and sold 1.7 million during the • Ticker Symbol: AAPL first three days. Countries of Operation Major Shareholders Key Management • USA • FMR LLC (4.99%) • Steve P. Jobs, Co-Founder, • China • Vanguard Group (3.53%) CEO • UK • BlackRock Institutional Trust (2.90%) • Peter Oppenheimer, CFO & • Australia • Price (T.Rowe) Associates (2.67%) SVP • New Zealand • Janus Capital Management (2.07%) • Timothy Cook, COO • Japan • Scott Forstall, SVP of iPhone • Germany Software Engineering & • France Platform 24 24

Mobile Operating Systems! Linux Updated:
June 2010 Category: Mobile OS URL address: www.linux.com Headquarters: San Francisco, CA No. of employees: n/a Company Background Members • In 1991, Linus Torvalds wrote the Linux kernel that spawned the • Fujitsu • AMD development of the Linux operating system. Linux was an excellent • Hitachi • Cisco example of the power of collaboration within open source software. • IBM • Google • In 2007, the Linux Foundation was created to sponsor the work of Linus • Intel • HP Torvalds and add need infrastructure into the Linux community. • NEC • Motorola • Oracle • Nokia • Linux became an alternative to Symbian, Windows CE and others for mobile devices since it was inexpensive and flexible enough to allow Financial Information customization. In 2006, 16.7% of smartphones in the world were using • Market Cap: N/A Linux. • Enterprise Value: N/A • In 2009, Linux had 5% of the overall mobile operating system market • 2009 Revenues: N/A (Gartner). • 2009 Net Income: N/A • 2009 Profit Margin: N/A • P/E Ratio: N/A • Ticker Symbol: N/A Countries of Operation Major Shareholders Key Management • USA • N/A • John Zeglis, Chairman and • UK CEO • China • Michael Keith, EVP • Japan • Mohan Gyani, President & • France CEO, Wireless Services • Germany • Brazil • Finland 25 25

Mobile Operating Systems! Microsoft Updated:
June 2010 Category: Mobile OS URL address: www.microsoft.com Headquarters: Redmond, WA No. of employees: 93,000 Company Background Alliances/Subsidiaries • Microsoft Corporation provides software and hardware products and • HTC solutions worldwide. The Client segment offers Windows 7/Vista • Samsung comprising Home Basic, Home Premium, Enterprise, and Starter • LG 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, Silverlight, Biz Talk Server, and others. The Online Financial Information Services Business segment provides online advertising platform; online information offerings; and email and instant messaging services. • Market Cap: $223.6 billion • Microsoft’s mobile OS is Windows Mobile. Windows Mobile market share • Enterprise Value: $189.1 billion has fallen over the past several years due to its clunkiness and • 2009 Revenues: $58.4 billion bugginess. It currently has a 9% share of the mobile OS market. • 2009 Net Income: $14.6 billion • 2009 Profit Margin: 29.03% • The latest version is “Windows Phone 7” which is launching this October • P/E Ratio: 13.22 2010. It’s been emphasized that Windows Phone 7 will be an advertising • Ticker Symbol: MSFT platform. Countries of Operation Major Shareholders Key Management • USA • Capital Research Global Investors (4.20%) • Steven A. Ballmer, CEO • UK • Vanguard Group (3.20%) • B. Kevin Turner, COO • China • State Street (3.02%) • Robert Bach, President of • Japan • Capital World Investors (2.78%) Entertainment & Devices • Germany • BlackRock Institutional Trust (2.56%) • Stephen A. Elop, President of • Brazil Microsoft Business Division • Spain • Russia 26 26

Mobile Operating Systems! RIM Updated:
June 2010 Category: Mobile OS URL address: www.rim.com Headquarters: Waterloo, Ontario, Canada No. of employees: 12,000 Company Background Alliances/Subsidiaries • Research In Motion Limited (RIM) is a Canadian wireless device and • eBay • Vodafone telecommunications company that created the BlackBerry smartphone. • Tata Indicom • Airtel Initially starting out as a pager company, RIM's BlackBerry product • China Telecom • T-Mobile started its stranglehold on the enterprise market in the early 2000s with • Alcatel-Lucent • China Mobile its ability to quickly send and receive emails. This earned the nickname • Orange • Telefonica "CrackBerry” from corporate users across North America and than the • IBM • SK Telecom globe. Financial Information • Over 50 million BlackBerry phones have been sold, which makes it the second best selling smartphone. • Market Cap: $30.6 billion • Enterprise Value: unknown • 2009 Revenues: $14.9 billion • 2009 Net Income: $2.46 billion • 2009 Profit Margin: 16.8% • P/E Ratio: 11.34 • Ticker Symbol: RIMM Countries of Operation Major Shareholders Key Management • Canada • FMR LLC (4.16%) • Mike Lazaridis, Founder, • USA • Janus Capital Management (4.07%) President & co-CEO • UK • Royal Bank of Canada (2.73%) • Jim Balsillie, co-CEO • France • Toronto Dominion Bank (2.55%) • Don Morrison, COO • Germany • Invesco (2.17%) • Robin Bienfait, CIO • Japan • Blackrock Inc (1.93%) • Brian Bidulka, CFO • South Korea • China 27 27

Mobile Operating Systems! Symbian Updated:
June 2010 Category: Mobile OS URL address: www.symbian.org Headquarters: London, UK No. of employees: 10+ Company Background Members • They Symbian Platform started out as Symbian Software Limited. In • Fujitsu • Sony Ericsson 2008, Nokia acquired it and created an independent non-profit called the • Huawei • AT&T Symbian Foundation. The foundation doesn’t directly develop the • LG • Vodafone platform, but seeks to ensure compatibility and coordination within the • Nokia • NTT DoCoMo Symbian community. Such as organizing, distributing and building the • Samsung • Orange Symbian source code among its members. • Sharp • Softbank • The "Symbian platform" is the successor to the "Symbian OS", and was Financial Information made available as open source code in February 2010. The platform was created by integrating the software contributions from Nokia, NTT • Market Cap: N/A DoCoMo, Sony Ericsson, and Symbian Ltd. This was obviously a move • Enterprise Value: N/A to counter the growing threat of Google's Android. • 2009 Revenues: N/A • 2009 Net Income: N/A • While Symbian still retains 47% of the mobile OS market and is the • 2009 Profit Margin: N/A leader in the smartphone market, its grip is quickly becoming undone. • P/E Ratio: N/A • The founding members where: Nokia, Sony Ericsson, NTT • Ticker Symbol: N/A DoCoMo, Motorola, TI, Vodafone, LG, Samsung, and others. Countries of Operation Major Shareholders Key Management • UK • N/A • Lee Williams, Executive • USA Director • South Korea • John Forsyth, Technology & • China Delivery Management • Japan • Tim Holbrow, Finance & Ops • Finland • Dietmar Tallroght, General • India Counsel • Brazil 28 28

Mobile Phone Makers! Apple Updated:
June 2010 Category: Mobile Phone Maker URL address: www.apple.com Headquarters: Cupertino, CA No. of employees: 34,300 Company Background Alliances/Subsidiaries • Apple is a leading consumer electronics, PC and mobile smartphone • FileMaker manufacturer. The company's best-known products include the • AT&T Macintosh computers, the iPod, the iPhone and the iPad. They also • Foxconn Technology Group operate 284 retail stores in 10 countries. • Apple's strength is in its design and creating cool, cutting products. Steve Jobs, their CEO, has famously stated they don't use focus groups for their products because they know what consumers want. Financial Information • Apple's revolutionary iPhone was introduced in January 2007. At the • Market Cap: $228.8 billion time, the iPhone had a unique multi-touch screen with a virtual keyboard • Enterprise Value: $205.9 billion and its App Store, which allowed third-party developers to create various • 2009 Revenues: $42.9 billion applications for the platform. • 2009 Net Income: $8.23 billion • iPhone 4 was release on June 24, 2010 and sold 1.7 million during the • 2009 Profit Margin: 21.15% first three days. • P/E Ratio: 21.32 • Ticker Symbol: AAPL Countries of Operation Major Shareholders Key Management • USA • FMR LLC (4.99%) • Steve P. Jobs, Co-Founder, • China • Vanguard Group (3.53%) CEO • UK • BlackRock Institutional Trust (2.90%) • Peter Oppenheimer, CFO & • Australia • Price (T.Rowe) Associates (2.67%) SVP • New Zealand • Janus Capital Management (2.07%) • Timothy Cook, COO • Japan • Scott Forstall, SVP of iPhone • Germany Software Engineering & • France Platform 29 29

Mobile Phone Makers! HP Updated:
June 2010 Category: Mobile Phone Maker URL address: www.hp.com Headquarters: Palo Alto, CA No. of employees: 304,000 Company Background Alliances/Subsidiaries • Hewlett-Packard Company is the storied original startup of Silicon Valley. • Palm Founded in a Palo Alto garage in 1939 by Bill Hewlett and Dave • O2 Packard. • AT&T • HP sells various products, technologies, solutions, and services • Sprint Nextel worldwide. Its Personal Systems Group division makes PCs for • Vodafone consumer and enterprise, handheld computing devices, calculators, and other related products. Financial Information • HP recently acquired Palm for $1.2 billion. Palm’s CEO, Jon Rubinstein, • Market Cap: $108.6 billion (HP) now runs Palm under Todd Bradley's Personal Systems Group. Bradley • Enterprise Value: $111.4 billion is also a former Palm CEO. • 2009 Revenues: $114.6 billion • Palm was once the leader in PDAs with their Palm Pilot, Palm V, Zire • 2009 Net Income: $7.66 billion and Tungsten series. They also had successful entry into the • 2009 Profit Margin: 7.09% smartphone market with the Treo and Centro models, but competition • P/E Ratio: 13.19 from Apple, BlackBerry and Android made their next series, Pre, an • Ticker Symbol: HPQ unsuccessful launch. Countries of Operation Major Shareholders Key Management • USA • Vanguard Group (3.57%) • Mark Hurd, Chairman, CEO & • UK • FMR LLC (3.51%) President • Singapore • Dodge & Cox (2.97%) • Catherine A. Lesjak, CFO & • New Zealand • BlackRock Institutional Trust (2.77%) EVP • Malaysia • Capital Research Global Investors (2.44%) • Ann M. LIvermore, EVP of • Mexico • Capital World Investors (2.11%) Enterprise Business • Brazil • Todd Bradley, EVP of Personal Systems Group 30 30

Mobile Phone Makers! HTC Updated:
June 2010 Category: Mobile Phone Maker URL address: www.htc.com Headquarters: Taoyuan City, Taiwan No. of employees: 8,948 Company Background Alliances/Subsidiaries • In 1997, Cher Wang and Peter Chou founded HTC as a notebook • Microsoft • Sprint Nextel computer manufacturer. They shifted towards hand-held PCs and • T-Mobile • AT&T smartphones within a few years. In 2009, they shipped out 11.71 million • Orange • Softbank Mobile units with 3G wireless handsets accounting for 95% of total units • Telefonica • NTT DoCoMo shipped. • Vodafone • Qwest • HTC was the first mobile manufacturer for Microsoft's Pocket PC, a • Verizon • Android Microsoft powered smartphone, Microsoft 3G phone, and the first Financial Information Android-based mobile phone. In June 2009, they launched the HTC Evo 4G, the first 4G mobile phone in the U.S. • Market Cap: unknown • Enterprise Value: unknown • In March 2010, Apple claimed that HTC infringed upon 20 its patents • 2009 Revenues: $4.5 billion covering aspects of the iPhone user interface and hardware. HTC • 2009 Net Income: $703 million countered by claiming Apple infringed on 5 of its patents. Also in a • 2009 Profit Margin: 15.6% probable defensive measure against Apple, HTC signed a broad patent • P/E Ratio: unknown agreement with Microsoft for various patents related to mobile • Ticker Symbol: 2498.TW technology. They will be paying royalty fees to Microsoft. Countries of Operation Major Shareholders Key Management • USA • Way-Chih Investment Co. (5.14%) • Cher Wang, Chairman • Canada • Way-Lien Technology (4.78%) • Peter Chou, CEO & President • Taiwan • Euro Pacific Growth Fund (3.08%) • Fred Liu, Senior EVP & • China • Hon-Mou Investment Co. (2.86%) President of Engineering • Japan • Hui-Ming Cheng, CFO • Singapore • UK • Germany 31 31