Sprint Sold 1.4 Million iPhones, But Lost 2 Million Subscribers
Sprint announced last night that they lost around 2 million customers last quarter, mainly due to the shut-down of the Nextel network. Sprint recently acquired spectrum from U.S. Cellular and sold a majority stake of their own company to SoftBank. Sprint is also acquiring the remainder of Clearwire. Sprint launched 4G LTE in 151 cities, including 41 markets that was announced this past Monday. The company is expecting their network to cover 200 million people by the end of the year.
Sprint posted an $874 million operating loss for the quarter due to charges that were related to the Nextel shutdown. The company’s net loss was $1.6 billion. Last year, the company reported an operating loss of $629 million and a net loss of $1.4 billion. Sprint reported revenues of $8.8 billion.
According to AllThingsD, Sprint said that the number of contract customers on their network, the revenue per customer, and the total Sprint-brand revenue reached the best-ever levels for the quarter. The company said that out of the contract Sprint platform phones, 86% of the devices were smartphones. This includes 1.4 million iPhones.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry