MetroPCS CEO: `Wireless is safe haven'

Wireless carriers have taken over from wired phone companies as a stable investment in a poor economy, the chief executive of regional carrier MetroPCS Communications Inc. told analysts Thursday.

"I think one thing that has been proven is that wireless is a safe haven," said CEO Roger Linquist, speaking at a Goldman Sachs analyst conference.

"Wireline used to be a safe haven," he said, contrasting the line losses of the phone companies with MetroPCS's own performance.

The Dallas-based company had an early indication of economic weakness when the number of customers who canceled service rose in the fourth quarter last year, but it has added 600,000 net subscribers this year, even though its target customers have low incomes and are often immigrants.

Meanwhile, the larger phone companies have reported a slight speed-up in the rate customers are canceling wired phone service.

MetroPCS has limited service areas, but undercuts larger carriers by offering unlimited calling for $40 per month from within those areas.

Like other telecoms, MetroPCS shares have been hit by the recent financial crisis. They rallied Friday with the rest of the market, rising 82 cents, or 5.3 percent, to $16.19.

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