Sprint loses 1 million Cell Subscribers
Sprint this morning reported its results for the first quarter of 2008 and has revealed continued severe losses in its cellular business. The carrier says its net revenue declined nine percent year-over-year to $9.3 billion and that it lost a total 1.09 million wireless customers in the most recent period. The company says the poor results were “expected” but that it’s continuing to rework its strategy, including more focused advertising, cost reductions, and larger strategic decisions. Its news last week of a team-up with Clearwire for nationwide WiMAX also points to a turnaround, according to the company.
The company’s total 52.8 million customers keep it in third place among US wireless carriers. AT&T and Verizon have extended their leads with significant gains in the most recent quarter and support 71 and 67 million cellphone users respectively. T-Mobile is in fourth place at 30 million customers.
Sprint is throwing their hat in the ring against the iphone, starting off with the HTC Touch, which is in no way a worthy competitor, however, if they get their hands on the upcoming “Diamond”, it could be the iphone’s closest competition yet, however, the iphone will likely be at a much better price. We’ll just have to wait and see what happens.
Also, if they could drop that dead weight called Nextel, Sprint may become much more attractive to possible suitors, to pick up their weakening cell business.
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