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Sprint Seeking $7B to Cover iPhone, Network Upgrade Costs

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Oct 27, 2011, 8:48 AM   by Eric M. Zeman

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.

more info at Reuters »

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Subject Author Date
The is Why acdc1a Oct 27, 2011, 8:56 AM
Welcome aboard the Titanic. Admiral_Ackbar Oct 27, 2011, 9:26 AM
Bail out!!!! glinc Oct 27, 2011, 9:27 AM
"To meet their target, Jellz Oct 27, 2011, 9:14 AM
 
 
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