A mobile virtual network operator (MVNO) is a company that provides mobile phone services without owning its own wireless network infrastructure. Instead, MVNOs lease network access from established mobile network operators (MNOs) like Verizon or AT&T. This allows them to offer their own plans and services to customers while relying on the MNO's network for coverage. MVNOs often target specific market segments, such as budget-conscious consumers or niche communities, by providing tailored pricing and services. They can offer competitive rates and flexible plans, making them an attractive option for users looking for alternatives to traditional carriers.