The following is an excerpt from Tyler Lee | October 27, 2011 8:14 PDT | ubergizmo.com |
Just yesterday we reported on Sprint’s Q3 results, which by all accounts seemed to be rather optimistic in nature despite a loss of $301 million. This was made up by an increase of 2% in revenue, bringing Sprint’s Q3 revenue to $8.33 billion, and seeing an addition of 1.3 million new customers, all of which was apparently accomplished without help from the iPhone, and if you’re thinking that the iPhone will be giving Sprint that extra push, you could be wrong.
It seems that Sprint has placed one heck of a bet on Apple’s iPhone, hoping that it would attract customers in droves. This bet (or investment if you would rather) has cost Sprint quite a lot of money, coupled with their network upgrade which will see Sprint launch their LTE network next year, and LTE-Advance in 2013. It looks like perhaps Sprint might have been a little too ambitious and is now seeking an additional $7 billion in funding.
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