Typically, when you hear the word radio in relation to a cell phone, it is referring to cellular phone and other wireless communications. The radios on the phone have different wireless communication functions. The TB has 6 radios, I believe. GPS, Bluetooth, wifi, 4G, and the 2 other phone-radio bands.
Others, you may correct me if I got it wrong.
I love the fact that I can make a call and have tethering to my laptop on actively at the same time, even in 3G areas like where I live.
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