Verizon Is Mapping a New Road to Riches

Some telcos have located a promising new revenue source in satellite navigation services.

As the cell phone morphs into an all-in-one communications and entertainment device, phone companies are constantly on the lookout for ways to make it pay off.

With the approach of Apple's (AAPL Quote) iPhone, music on cell phones is finally starting to take off -- but not in the lucrative way wireless service providers had hoped. It seems instead of spending a fortune downloading tunes over cellular networks, kids prefer loading their playlists off their computers.

And before music, cameras were going to be the big wireless revenue opportunity. But then it turned out cell phone pictures, if they were transferred at all, went to the PC, not over the air in any billable fashion. ...