Vonage offering new phone device

Internet phone company Vonage Holdings Corp said on June 28 it aimed to expand its customer base to businesses with a new device that can be carried and plugged into computers for making phone calls.
Analysts, however, said the product was not enough to change their dim outlook for Vonage, which saw its shares tumble around 50 percent since its May initial public offering (IPO) on worries about increasing competition and persistent losses.
Vonage is one of the US leaders in Web-based telephone services, or Voice-over-Internet Protocol (VoIP), which are usually cheaper than traditional phone services and are popular among younger tech-savvy consumers.
But with a growing number of telecoms, cable and Internet firms competing in the same market, Vonage is trying to expand its services.