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Article: Move from pay to cell phones smart move for Fayetteville, N.C., firm.
- Article from:
- The Fayetteville Observer (Fayetteville, NC)
- Article date:
- July 14, 2004
CopyrightCOPYRIGHT 2004 The Fayetteville Observer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Al Greenwood
Jul. 14--Michael Karaman hesitated when a company offered to buy his pay phones in 1991. The phones were a money maker.
But Karaman accepted the offer.
It turns out that Karaman didn't give up a cash cow. He sold a dinosaur.
Karaman's company, The Phone Network, used the money from the sale to expand into cell phones and telecommunications equipment for businesses, he said. Through the 1990s, demand for more sophisticated telephones and telephone systems continued to grow, and Karaman's company expanded.
Two weeks ago, The Phone Network moved out of the Eutaw Shopping Center and into a larger building ...