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Sprint's Loss Widens, But Customer Growth Returns |
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Sprint's Loss Widens, But Customer Growth Returns
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Wed Jul 28, 2010 1:01 pm
Sprint said that it lost fewer subscribers in its latest quarter, helped by the high-speed Evo from HTC, as the embattled company continues to improve customer service and retention.
Since it bought out Nextel five years ago, Sprint has been hemorrhaging customers. That network, which is incompatible with Sprint's, features a walkie-talkie push-to-talk service. But that unique technology also limits the side to a small selection of smartphone, resulting in over a million subscriber exoduses every year. Hesse acknowledged that the Nextel business is still doing poorly.
The company has also had issues holding onto post-paid subscribers, which have left by the millions over the last several years.
"You had a business that was in rapid decline," said Dan Hesse, Sprint's chief executive. "Now we got it to stable. Then the next phase will be growth."
Sprint has hoped to win over contract customers with its new higher-speed fourth-generation, or 4G, network. But the first handset to run the technology, the Evo from HTC, has been in short supply.
Its lone bright spot -- in prepaid -- shows strong growth.
Sprint posted a second-quarter loss of $760 million from a $384 million loss a year ago. Revenue fell 1.4 percent to $8.0 billion.
More News: Sprint (234) | Reports (219) | Prepaid (22) |
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Wed Sep 01, 2010 8:49 am
Sprint is considering whether to allow rival T-Mobile invest in Clearwire, the company that is building out its "4G" service, in a move that would let the two companies share the same next-generation network.
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Fri Aug 27, 2010 1:18 pm
AT&T, Verizon, Sprint and T-Mobile control 90 percent of the wireless market, making it hard for smaller companies to compete, according to government report.
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Sun Aug 15, 2010 8:17 pm
Sprint's buyout of Nextel is ranked as one of the worst mergers of the last five years, according to financial services firm Bloomberg.
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Thu Aug 12, 2010 8:11 am
Sprint said it will release the Samsung Epic 4G, its second fourth-generation smartphone, on August 31 for $250 with a two-year contract.
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Thu Aug 05, 2010 2:08 pm
Clearwire, a data network company mainly owned by Sprint, said it would start testing a rival wireless technology known as Long-Term Evolution, or LTE, to power its high-speed 4G network.
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