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Virgin Mobile USA, Inc. principally serves as the holding company for Virgin Mobile USA, L.P., an indirect, majority owned (81.5%) subsidiary engaged in the wireless communications services business. The minority equity interest (18.5%) in Virgin Mobile USA, L.P. is held by Sprint Nextel Corporation. The Company provides voice and data services, handset units and other related offerings that are designed to meet the lifestyle of the youth sector, its targeted market. Virgin Mobile USA commercializes its products and services under the Virgin Mobile brand. It delivers its services using the nationwide Sprint PCS network. As of December 31, 2007, the Company served approximately 5.1 million customers within its service areas. In August 2008, Virgin Mobile USA, Inc. announced that it has completed its acquisition of Helio, a joint venture between SK Telecom Co., Ltd. and EarthLink.