Why NII Holdings (NIHD) Is Up Today

NEW YORK (TheStreet) -- NII Holdings (NIHD) continued its rise from last week on Tuesday after the company announced that its PRIP, an advanced Push-to-Talk app, has been made available for iPhone users in the United States. The stock was rising 5.67% to $3.15 in midday trading.

On Friday, NII Holdings announced that it would offer the Apple  (AAPL) iPhone 5s and iPhone 5c on the Nextel Brazil network on Jan. 31. The Brazilian telecom's customers can pre-register for either smartphone on its Web site. Nextel Brazil will become the fifth carrier in the nation to offer the iPhone.

PRIP is built on Motorola Mobility's PTT technology and allows users to engage with other PRIP subscribers and Nextel users in real-time, instantaneous and unlimited communication through 3G, 4G or Wi-Fi. The app is available on the Apple App Store and on Google Play for $1.99 per month with the first month free.

The introduction of the PRIP iPhone app brings the service to 97% of smartphone users in the U.S.

"We are excited to expand PRIP to iOS, bringing true push-to-talk capabilities to more users in the U.S.," said Greg Santoro, executive vice president and chief strategy and marketing officer for NII Holdings in a company statement. "As our customer demands evolve and new devices enter the marketplace, it is important we continue to expand our offerings to meet their needs."

TheStreet Ratings team rates NII Holdings as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

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