Chairman Jeffrey Citron said that Vonage Holding Corp is planning to launch Wi-Fi based phone products in 2007. Wi-Fi, short for wireless fidelity, is a technology mostly associated with laptops, cellular phones and gaming devices.
Citron said that Vonage expects to release next generation wi-fi for better availability of their services. He did not expound on the specifications of their new product but he did say that it has something to do with cellular phones and handheld devices.
"For us it will be another generation of handsets for sure, and those handsets will of course ... take advantage of the new trends in this space," he said.
According to him, this is in line with the objective of the company to increase profit in the first quarter of 2008 while keeping the expenses constant or just a little higher in the years to come.
A 60 percent decline has been experienced by Vonage shares since it went public in May because of tough competition with cable and internet companies. On Friday afternoon, shares are being valued at $6.52.