Sprint Seeking $7B to Cover iPhone, Network Upgrade Costs
Sprint revealed as part of its quarterly earnings report this week that it expects to hit a cashflow problem over the new few years as its spends billions to upgrade its CDMA 3G network, launch Long Term Evolution 4G, and pay Apple for the iPhone. Sprint's planned network upgrades will cost about $7 billion, and it has agreed to pay Apple $15.5 billion over the next few years to sell the iPhone. Sprint said it is expecting a shortfall of as much as $7 billion. As a result, it is seeking ways to finance its operations over the coming years. Sprint hopes to refinance $4 billion debt and raise an additional $3 billion in cash from vendors to cover costs and keep its cash-on-hand balance at $2 billion.
The is Why
There's no doubt at all that a company with less debt could very easily turn a profit at those rates.
Welcome aboard the Titanic.
Enjoy your stay on the D Deck...
lmao man Sprint really is the laughing stock of the wireless industry aren't they. The sad thing is though they do seem to come up with good and innovative ...
"To meet their target,
Can they turn this around, probably. But, it w...