LEAP, PCS Slide as Wal-Mart Offers Cheap Prepaid Wireless Plans

The already intensively competitive wireless sector today finds itself with a tough new player: Wal-Mart (WMT). The retailing giant has teamed up with American Movil (AMX) to sell low-cost service under the Straight Talk brand. The company is offering unlimited voice and text minutes for $45 a month, or 1,000 minutes and 1,000 text messages for $30 a month.

WMT is rolling out the plans nationwide after previously testing service via 234 stores, according to Reuters.

This is something of a nightmare for the pure-play pre-paid wireless companies, including MetroPCS (PCS) and Leap Wireless (LEAP), which just a few days ago found themselves facing the prospect of AT&T (T) jumping into the pre-paid market.

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