inmarsat does sell a handheld satellite phone product (google "inmarsat isatphone") which uses narrow band data channels and handhelds to talk to geostationary satellites. Its coverage is not quite as solid or reliable as iridium, because you can be easily obstructed by a mountain on your south side if you're at latitude 45N or something, and doesn't extend beyond about 70 degrees north, but it's also priced cheaper than iridium for the hardware and the monthly service.

what most people think of as a satellite phone is indeed LEO since iridium has the lion's share of the market.