XM Satellite Radio has cleared a major hurdle regarding its SkyFi 2 radio receiver.Thursday, the Federal Communications Commission certified XM's SkyFi 2 radio receiver model. According to estimates from Bear Stearns analyst Robert Peck, XM has sold approximately 500,000 SkiFi 2 recievers so far.
Investment firms are still cautious about XM's prospects, although this was another in a short string of good news for the company.
According to Bear Sterns' Peck, "While we believe this is definitely a positive event for the company, we think there are still major issues that need to be addressed,"
Other issues faced by the satellite radio broadcaster include ongoing inquiries from the Federal Trade Commission, product delays, stakeholder lawsuits and tepid consumer demand.
[via Forbes]
