LeRoy T. Carlson, Jr. (left)
Chairman of the Board
John E. Rooney (right)
President and Chief
Executive Officer
Investing for the Future
U.S. Cellular® took important steps in 2008 to ensure that its network supports developing customer needs for technology. The company expanded its 3G network to approximately 23 percent of its cell sites, and intends to bring 3G speeds to at least 60 percent of its cell sites by the end of 2009. The company also continued to add many new cell sites in 2008—financing the expansion in part with Universal Service Fund (USF) disbursements.
These investments enabled U.S. Cellular to maintain its award-winning network quality. J.D. Power and Associates has ranked U.S. Cellular as having "Highest Call Quality Performance Among Wireless Cell Phone Users in the North Central Region" for seven consecutive reporting periods.
U.S. Cellular, indirectly through its limited partnership interest in King Street Wireless, made strategic investments in spectrum in 2008 through participation in a major Federal Communications Commission (FCC) auction. The company also made several direct spectrum acquisitions. The spectrum covers areas that complement U.S. Cellular's strategic footprint and could help support an eventual transition to 4G / Long-Term Evolution network technology.
At year-end, U.S. Cellular was well-positioned for strong future growth, with a total operating market population of 46 million in 26 states.
Share Repurchases
To partially offset dilution from various benefit plans, U.S. Cellular repurchased 600,000 shares in 2008 for $32.9 million.