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Partial acquisition by Japanese carrier

Sprint Nextel Corp. (S) posted a rather grim earnings report for its fiscal Q4 2012, however, the blow was softened somewhat by its pending $20B USD partial acquisition by Japanese carrier giant Softbank Corp. (TYO:9984).  Sprint is losing money -- and subscribers -- but is expected to benefit from Softbank's commitment to finance a large network upgrade to 4G LTE in 2013.

Sprint lost $1.32B USD on revenue of $9B USD in Q4 2012.  That represents a 3.2 percent rise in revenue, but essentially no shift on the loss front (in 2011 Sprint lost $1.3B USD in Q4).  Sprint lost 337,000 customers for the quarter (about the same as the Q4 2011) losses and its sister Nextel network lost 1 million subscribers.

Rivals Verizon Wireless -- the U.S. mobile carrier jointly owned by Verizon Communications Inc. (VZ) and Vodafone Group Plc. (LON:VOD) -- and AT&T Inc. (Tboth added customers for the quarter.  Verizon added 2.1 million new contract subscribers, while AT&T bumped subscriptions by 780,000.

Sprint sign
[Image Source: Scott Lippincott]

Sprint's postpaid offerings did quite well and it did manage to sell 2.2 million iPhones in the quarter (versus 8.6 million iPhones sold by AT&T and 6.2 million iPhones by Verizon).

For the year Sprint gained about 605,000 customers thanks to strong postpaid performance.  Sprint lost $4.3B USD for the year on revenue of $35.3B USD.

Sprint has begun constructing LTE network capabilities in 450 cities.  Its current network covers 58 cities, and 170 more will be added in "coming months". The network upgrade is expected to run $3.6B USD.

Source: Sprint

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its about customer serivice sprint!
By ComputerJuice on 2/7/2013 3:12:22 PM , Rating: 2
Ive been with every major carrier in the US (and some small ones) as I move around a lot, and usually whoever I am on contract with pays for my phone, often that means a new carrier. Sprint actually has a lot going for it in terms of what you get for what you pay, however, I would NEVER go with sprint again if I had a choice... Why? Simply, Their customer service is abysmal. Its like you are the enemy when you have to call and talk to someone... just speaking to a human is not a simple thing and when finally do you are treated like you are trying to scam them. Then billing... for crying out loud.

My personal story is this, contractor gave me a phone, I wanted an upgraded phone not part of the deal and had to pay out of pocket... NP until sprint charged me for the phone & didnt send it, upon them discovering that, they charged me again then sent 2 phones. Called to send them back 1 phone & get a refund resulted in another phone & another charge. This continued happening until I had 5 unopened phones in addition to the one I was using as well as a $1800 phone bill the first month. When I finally got that straightened out (3 months later), they had sent me to collections but given me $2600 credit on my bill... madness ensued, mostly mine because they didnt give a squat. Eventually it got worked out (almost 1 year later), but by that time I was already with a different carrier in a different country.

2 years later (last year), I had a contract and guess what? Back to sprint, learning my lesson I just took the phone they gave me but upgraded the plan, simple enough but the same what can only be described as harassment. Jebus... I only wanted to spend more money with you sprint why the hostility?

By ComputerJuice on 2/7/2013 3:15:54 PM , Rating: 2
I guess my point was this: If sprint had some measure of decent customer service, they'd likely not be hurting for cash.

RE: its about customer serivice sprint!
By DiscoWade on 2/7/2013 6:39:07 PM , Rating: 2
My dad had Sprint once. He called to ask for the mailing address so that he could pay the bill. The answer he got was "why?" That told me enough right there to never get Sprint.

I have AT&T right now. I find their customer service to be friendly but incompetent. I can live with that. Since I'm grandfathered into a great rate plan and since my service is good enough where I live, I stay with them.

By Dr of crap on 2/8/2013 12:42:18 PM , Rating: 2
And yet all you hear is how ATT customer service is bad.

AND why are you snail mailing in your payment. Online is so much easier.

Everyone a thier own experiences, and you'll only find the bad ones posted here. Those of us satisfied with Sprint, won't post!

"I modded down, down, down, and the flames went higher." -- Sven Olsen

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